If you are an expert in a particular field and can guide people in the right direction you can need to pick up consultancy as a business. A consultant’s job is to enlighten people and assist them with know-how’s.
To become one all that you need to have is passion and zeal for excellence.
Skills Needed to Start Consulting Business
In order to become a consultant you need to ask the following questions to yourself:
- Am I qualified to be a consultant? Do I know a subject matter inside out so as to be able to solve all problems of a person?
- Do I have the necessary certification and experience to prove that I can guide people properly?
- Am I an organized person? Can I manage my time and plan my day properly?
- Do I have the proper networking skills?
- Are my goals long term ones?
- Do I update myself on my subject of specialization?
If you have an answer for all this, then this is the business which you need to pursue.
Types of Consultancy Business
Following are the different types of consulting business you can start.
- Business Management Consulting
- Small Business Consulting
- Business Strategy Consulting
- Business Development Consulting
- IT Business Consulting
- Computer Consulting Business
- Software Consulting Business
How to Start a Consultancy Business?
Before you start a business you need to consider two important aspects of the business. One is to have a good administrative support person and the other is to fix a fee.
With a good administrative person at your beckoning you gain on three counts:
- You save on time and money
- You need not worry about office when you are at work
- You have someone to assist you in compiling and arranging work.
Your administrative help can play an important role in helping you retain a client. Your success may depend a lot on this.
Before fixing your fees, have a list of all your expenses. You cannot charge him more due to extra expenses you couldn’t foresee. Nor can you afford to carry the clients cost from your earnings. So it is good if you include a miscellaneous charge. Don’t misuse the miscellaneous figure to make additional income.
Always set your rates based on what other consultants are charging for their services. This will help you compete with others on an equal footing. You have the option of fixing your rates on hourly basis or project basis. However don’t under quote yourself. This does no good in the long run.
Guide to Start Consulting Business
Publish a brochure. Some issues your brochure needs to take care of are:
- Clearly convey what your services are.
- Tell customers why you are the best.
- Give reasons why you should be hired.
- Provide biographical information
- Talk about your other clients
Advertise about your consultancy in popular trade journals or magazines. Start collecting newsletters that are being published in your consulting field. Write a newsletter with the help of a local freelance writer and graphic designer. Make sure your newsletter carries all the information to attract potential clients.
How to become a Tax Consultant?
You can become a good tax consultant if you have the following:.
- Complete knowledge of all prevailing tax laws and related penalties.
- Ability to give proper advice and guidance when preparing and submitting documents
- Know how to check standard of practice of company or individual’s tax documents
- The right mode of tax calculations
- Determining facts and coming to the right conclusion based on legal propriety.
- Act fairly and with a degree responsibility
If you have the following skills, then consulting business is definitely your domain.