Consulting Business Startup Success
Capitalize on the New Trends & Niches of Today’s Consulting Business
Million Dollar Startup Solution
In 2015 US Census Bureau estimated the consulting industry to be worth around 600 Billion dollars. That’s Billion with a B. Since 2000 this is one industry that has seen a constant growth year over year.
This is the newest trend in business. The business world has gotten smarter, slimmer, and meaner. Instead of employing more people, they now rely heavily on hiring consultants.
Hiring a consultant is easier, it is a contract job, and these consultants are not on the company’s payroll, there is no benefits, no 401K plans, and no health insurance for them. So companies have fewer expenses and less legacy cost.
Let’s now talk about what it takes to be a consultant. Do you need a Ph.D. on a subject to be a consultant? Sure that will help, but most of us do not have such degrees. In reality, 75% or more professional consultants out in the workforce today do not have more than a Bachelor’s degree. Out of that 75 % around 20% do not even have a Bachelor’s degree.
Being a consultant is not about having a degree but it is about being knowledgeable on a specific subject.
I have a friend, who worked for a solar panel maker for a few years. He recently started his own solar conversion consulting company where he is doing very well. The best part is, he never went to college.
If you wonder, why and how this is possible, think about it, by working at a solar panel-making company, he had plenty of exposure to everything solar. Now as a consultant, he is consulting companies on how to do a solar conversion and save energy cost. He is enjoying the fruits of Green living movement.
If you are looking to be a consultant, the first thing you need to do is, soul-searching. Answer these three questions :
- What are you most passionate about?
- What topic/subject do you know the most?
- How can you combine your passion with your knowledge?
In this book, I share the nuts and bolt of consulting. This book is written as a guide to help you decide how you can get started to become a consultant.
Here is inside peek at what you will learn:
- Qualifications to become a consultant
- Types of consulting
- Current state of consulting business
- Mergers and Acquisitions
- Emerging markets
- New Laws
- New opportunities in consulting industry
- Increased segmentation and specializations
- Working in Virtual Teams
- How to find a master a niche in consulting
- How to check your marketable skills and experience
- Find out the demands for your skills
- Determining how much clients pay for your skills
- Searching more profitable niche
- 10 Groundbreaking new consulting niche you can do without a degree
- How to become a master in a niche
- How to become known in a niche
- Setting up your consulting business
- Licenses, permits, registration, and regulations
- Setting up a company
- EIN, Bank account, and Insurance
- Setting up your office
- Creating presentation for clients
- Preparing proposal Templates
- Designing your price/rate structure
- How to negotiate consulting contract
- Negotiating strategies
- Getting ready for your first project
- The Welcome Kit
- Collecting payment and paying taxes
- Building and maintaining relationships to grow your business
- Sample Contract for Consulting Business
- Sample Articles of Incorporation