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Becoming a Consultant
Consulting is the greener-pasture dream of many an executive
and tech-whiz who feel trapped by their current job.
With the world’s constant demand for experts, even in
times of economic uncertainty, consultants often receive
the creamiest jobs from multiple customers, and their
niche-specific knowledge gives them a prestige inaccessible
to others.
Consulting remains a popular choice for those starting
their first business, but if you think you’re ready
to leap from employee to consultant then read on.
Selling Yourself
Before you quit your job, set up your home office, and
have your business cards printed up, consider that as
an independent consultant you’re entirely responsible
for selling your services. There’s no more sales staff
making money while you hunker down in mountains of networking
solutions or number crunching.
Remember the 90/10 rule: a starting consultant spends
90 percent of his time selling himself, and 10 percent
of his time doing his job.
Many would-be consultants, unaware of the rule, entered
their new profession with high hopes. The consultants
who last are those who can adapt to their new role as
sales people. I’m talking about letter writing, cold
calling, networking (no, networking with people, you
geek!), and meeting with CEOs so busy they schedule
their sneezes.
If you’ve ever said, "gosh, this job sucks but at least
I’m not in sales…" then you should not start your own
consulting firm.
If you’re not averse to selling, then keep reading.
Consulting just might be for you, especially if you’ve
got a marketable skill set.
Your First Move
Identify your marketable skills. Write your skills in
big letters on the walls of your home office because
these are the skills by which you will keep those walls
around you and your family.
This written summation of your skills will help you
begin the second step towards your own consulting firm
– the business plan. Your skills represent the business
concept of your business plan, and they will help you
identify the market you plan to serve.
The business plan, in addition to your willingness to
sell, will help determine whether you should become
a consultant. First off, a completed business plan is
a sure sign that you’re ready for action. If you keep
talking about becoming a consultant but never write
a business plan then perhaps consulting is not for you.
Second, a business plan will help you determine your
fiscal outlook. Perhaps you’ll find, once you’ve done
the projected income for a year, that your steady paycheck
will help you to reach your financial goals more quickly
than your consulting start up.
With your business plan in hand you’re ready to launch
a full scale assault on your first customer - your boss.
Many consultants find an eager customer in their current
employer. Ask your boss about becoming a contractual
worker – it may save her money and give you some much-needed
credibility.
Marketing Yourself
Marketing lights your consulting fire, so here are a
few ways that you may not have thought of that will
really help you to get your business started.
Websites, brochures, and letters are all excellent ways
to tell the world about your offerings. Once you’ve
written your business plan your website content should
be simple. Include your expertise, the specific services
you offer, examples of past success, reasons why your
client should say yes, and a bit about your professional
history.
You could also try the educational approach. Write articles
and submit them to trade journals in your field (or,
if they’re web or tech related, to gfrench@ientry.com),
speak at professional seminars, or meetings where you
could educate people about your topic – anything to
establish yourself as an expert in the minds of your
potential customers.
Finally, once you’ve written your ad copy and a couple
good articles, make a list of your contacts who could
be potential customers. Let them know you’re starting
a consulting practice and that you’d like them to evaluate
your marketing materials for relevance and effectiveness.
Go over the materials with them and make careful notes.
From these meetings you’re not only gaining crucial
marketing intelligence, but the potential for sales.
Another sign that you should not continue with your
consulting scheme is if you can’t find five or more
potential clients amongst your contacts. This means
either there’s not a significant market or you just
don’t know enough people. Either way, it would be best
to give up your idea of becoming a consultant.
If you know at least five people who might want to purchase
your services, and you’re not bothered by the idea of
trying to sell to them by way of asking for their advice,
keep reading. You may have what it takes to be a consultant.
Yes or Yes
A recent article in Wall Street Journal offered an excellent
sales strategy for consultants. The key is offering
different ways your key decision maker can say yes without
buying. Since timing and current budget might not allow
for your consulting fees, consider some positive alternatives
to the sale. Offer your potential client a proposal
by which he could evaluate your plans for execution.
Request your client’s objectives, metrics, and project
value. Give them everything they would need to execute
the project internally – this allows you to impress
your client with your skills.
If your prospect seems interested, but hesitates because
of potential conflicts with other internal departments,
offer to meet with the ‘enemy’ yourself. This puts you
in direct contact with the resistance and allows you
to speak directly, outside the representation of a third
party hampered by internal politics.
If your prospect is busy as the dickens, get out quick,
but not before asking for contact information with the
prospect’s minions. Gather information from your contacts
and stay out of the way until there’s a break in the
business action. You’ll be prepared for future success
and your potential client will recognize and appreciate
your tact.
Remember that a long-term relationship with a potential
buyer is better than a quick no. Options allow flexibility,
and flexibility allows sales.
Consult!
Today’s article is meant to be a tool for measuring
your desire and ability to become a consultant. If you’ve
made it this far and you’re still excited by your potential
for consulting, then it’s time you got more serious.
Visit the library and your local Small Business Association
office for more help on getting started.
I’ve included a few links that may help you as well.
Congratulations – you’re going to be a consultant!
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