What you can expect from a Consultancy Business
Running this type of business means you’ll be providing advice and guidance to clients, most likely the business owner or a company director, who is looking to improve their business in some way. This could include all types of businesses or specific industry focused businesses if you prefer a more niche market. You may be asked to help them with strategy, operations, marketing, business growth or exit planning for example.
One of the first things to expect is a lot of hard work. As a consultant, you’ll need to be prepared to put in the hours and do whatever it takes to help your clients succeed. You’ll also need to be comfortable working independently and making decisions on your own.
Remember, not all clients will be a good fit for your business. Some may not be receptive to your advice or may have unrealistic expectations, while others may be difficult to work with. It’s important to be prepared for these situations and to be willing to walk away from a client if necessary.
Skills you’ll need
You will require a unique set of skills. Here are a few that are key to your success:
Expertise: Clients will expect you to have a deep understanding of your area of expertise, whether it’s marketing, finance, operations, process and systems for example.
Communication: You’ll need to be able to communicate complex ideas and concepts in a way your clients will understand.
Problem-solving: Clients will come to you with problems they need help solving, so you’ll need to be able to assess the situation and come up with creative solutions.
Time management: You are likely to be working with multiple clients at the same time, so it’s important to be able to manage your time effectively.
Types of businesses you may work with
There are a wide range of businesses that you can work with including:
Startups: Many startups need help developing their business plans, raising funding, and marketing strategies.
Small and medium size businesses: Business owners may need help with everything from improving their operations to expanding into new markets.
Larger organisations: This type of client may need help with strategic planning, organisational design, and other high-level initiatives.
Non-profits: This group may need help with fundraising, marketing, and other areas that are critical to their success.
Running an independent consultancy business…
This can be a challenging and rewarding at the same time. To be successful, you will need to be confident in working independently and making decisions on your own. You’ll need to have the right skills, be prepared for hard work and be willing to work with a wide range of clients. But if you’re passionate about helping businesses succeed, it can be a great way to make a difference in the world while also building a successful business of your own.
There is also another, easier, option that will help you realise all of the above and can help take out the pain of starting a business from scratch. Have you ever considered a franchised consultancy business?
If you are thinking about starting a consultancy business and you’d like to find out more, let’s arrange a convenient time for a chat. I’ve been running my own consultancy business for over 9 years so have the insight to share. Check out my profile here.
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