How to go it alone and establish your own consultancy
More and more managers are abandoning the safety of company careers to become consultants in their chosen fields. They cite a number of reasons - a need to pursue their vision, a desire for increased independence, the lack of a meaningful future in a large organisation, or the reality of redundancy. If you’re contemplating such a move, here are some important actions you might take...
1. Identify existing demand.
Successful businesses provide services that people want and are prepared to pay for - the concept of supply and demand. Demand will result either from providing different services or from providing those services differently. As very few consultants have different products or services, they usually attempt to differentiate their services in other ways, such as targeting niche markets, being increasingly responsive, and so on. One indicator of demand will be that you have potential customers lined up before you start, so that, before making the jump, you can tell existing clients of your plans and secure their continuing support before.
2. Get your networks established.
Abraham Lincoln said, ‘Good things come to those who wait - but only that left by those who hustle’. Networking is an important means of hustling, so use your existing contacts to make new ones. Hustle at business breakfasts and lunches, industry seminars, and other events conducted by professional associations; have your work published in industry journals or in the local media. Then, when potential clients need the types of services you provide, they will associate your name immediately with their needs. Hustle also in directory listings and Yellow Pages. Try starting a newsletter. Create a website. Even approach former employers. Hustle for work.
3. Get a mentor and a coach.
A mentor will be someone who has succeeded in your field or in another field and who is prepared to nurture your development by taking you under his or her wing, offering guidance and advice. Mentors are role models and valuable sources of advice in such areas as getting started, providing services, finding niche markets, and advertising. Coaching differs from mentoring in that it focuses on providing specific assistance with a specific problem. A coach, for example, may teach you and help you to improve your public presentation skills so that you can, for example, increase demand for your services as a conference speaker.
