Comments on: So You Want to Start Consulting: Part 1

By: BLUE SAGE on Business

BLUE SAGE on Business — Thu, 09 Oct 2008 19:22:28 +0000

Hi Tim,
My story is a bit similar to yours: after 13 years in the corporate world, I decided to “light out”…and that was in 1997. I’ve never looked back.

I’d like to add a few things that I’ve learned along the way:
1. There’s a real difference between “consulting” and “contracting”. A consultant practices the art of consulting and invests in the long term value of building a business.A contractor typically looks for work while in between jobs. It’s useful to be clear which of these two roads you’re heading down.
2. If you decide to head down the consulting road, set limits for yourself. If you’re not successful/haven’t landed a client/don’t have defined products and services within a certain period of time, then acknowledge it and move on. The worst thing that could happen is that you have to look for a job (one of my personal mantras).
3. Starting a consulting practice is a difficult thing. Don’t be fooled by many of us who “make it look easy”. There are no shortcuts, but if you stay with it, the rewards are well worth the investment.

By: Tim Berry

Tim Berry — Wed, 08 Oct 2008 20:18:29 +0000

@Nitin on drafting a plan, thanks for asking, I’ve poured everything I know about it into books and software that I believe are immensely helpful as you develop your plan. That includes Business Plan Pro, the software; and The Plan-As-You-Go Business Plan, the book, which is (I’m happy to say) bundled with the software, or available on its own as well.

So you can follow up on that, if you want, by clicking the links on the right near the top.

Thanks,

Tim

By: Nitin Agarwal

Nitin Agarwal — Tue, 07 Oct 2008 13:02:17 +0000

Hi Tim,

Thanks for this article you posted on your blog. I am a budding consultant who has though of starting a consultancy business in the web domain. I do have a client at this stage who is yet to finalize his project. If that project materializes, then I will for sure quit my job and devote all my time in networking and building my business relations.

The only problem that I am facing right now is a PLAN. Could you help me out in drafting a good business plan for my web consulting business?

My website http://www.webconsulting.co.in is still under construction and I plan to launch it towards the end of this month.

I look forward to networking with you on LinkedIn.

Regards,
Nitin Agarwal

By: Ken Pirok

Ken Pirok — Mon, 06 Oct 2008 19:16:31 +0000

When I became a consultant, I rented out my house and moved in with roommates to save money. This was probably the only way that I could have afforded to get by with very little income to start out.

If you’re single, you can try my strategy and save money. If you’re married, then maybe you have a spouse who has some guaranteed income to get you by. Or, maybe you can start with one, regular client to guarantee a bit of income.

In any event, you should have some strategy. It actually doesn’t cost much to start a consulting firm. That’s the good news. The bad news is that it really does take a lot of time and effort before the money starts coming in.

By: Richard

Richard — Mon, 06 Oct 2008 15:46:59 +0000

Lately I’ve wanted to hang out my shingle as a consultant. How do you define what a “consultant” does? I want to go into a business, analyze their problems and recommend a solution. I also enjoy creating and kicking off strategies and hand off for someone else to manage.

Using what I’ve learned over the past couple of years I know I can diversify my knowledge into different revenue streams.

Any suggestions as what I can brand myself as and how to get started?

By: Richer Business Blog

Richer Business Blog — Mon, 06 Oct 2008 13:28:16 +0000

Hie Tim,

It is always hard to start a new business. But the challenges is all worth it. Of Course you need to make a plan, and it is good to have at least liquid cash equivalent of 3 or 6 months of your usual salary.

“If you fail to plan, you plan to fail”

Michel Richer
Hombyz.com