Consider Consulting

If you have a professional specialty and like what you do, but would really rather be your own boss, your best road into the world of self-employment could well be as a consultant. Consulting is one of the fastestgrowing job categories in America today - with more than 70,000 people working in the field and that number rising by about 10 percent per year. And, more than half of those in the business work as one-person operations. Consulting is a win-win proposition for both the consultant and the company that hires him or her. The consultant gets a high fee, lots of flexibility and the opportunity to pick and choose which assignments to take. The employer gets a specific job done without having to hire a full-time employee and without having to provide benefits, a pension or other costly perks.

The most successful consultants are those that help companies keep current with new technology, marketing, personnel and computer networking. However, even if your specialty doesn't fit into one of those categories, you should still be able to carve out a niche for yourself with a little planning and hard work. Before you make the jump into consulting, though, be sure to talk to several people who are already successful in the field and find out how they got started. You should also get input from some of your present clients (although you could run into trouble if you depend to heavily on your ability to steal clients from your current employer).

Another advantage of consulting is that it doesn't take much money. Your primary investment is your time. However, you will need to set aside a few hundred bucks for brochures, an answering service, telephone, FAX machine, office supplies and furniture.

Here are some secrets revealed by others who have become successful consultants:

  • Before you leave your present job, cement your contacts. The people you are working with now, or have served in the past, could become your first customers. At the very least, they are an excellent source of referrals.
  • And, speaking of referrals, get them. They can be invaluable for a new business. They cost nothing and come to you on the advice of a friend or former co-worker. Getting referrals is easy - just ask for them.
  • Do your best to leave your current job on good terms with your employer. Depending on their needs, they could become your best client once you're out on your own.
  • Don't be shy about selling your corporate experience or expertise. This gives you credibility with potential new clients. If a client looks unproductive, don't waste your time.
  • Bear in mind that your primary objective is to the sell yourself. You have a service that can help your client become more efficient, more innovative, more successful. Use this to your advantage. Learn their language. Keep in touch with clients and prospects by phone, FAX, letter writing and presentations. Let them know you're around and available.
  • Don't throw money around trying to impress people. A fancy office doesn't mean much if your work isn't up to par.
  • If you're considering a partner, look carefully at what they bring to the company - clients, contacts, invaluable information. Make sure it's worth the loss of control and decision-making power you suffer.
  • Set competitive rates. No matter how good you are, you won't succeed if you price yourself out of your desired market.

Submitted by Judy Parsetti
Cincinnati, OH