What are the steps to start a consulting business?

Identifying your niche is a fundamental element when establishing a consultancy business. I would suggest exploring a few as it is quite challenging to find the intersection between market appetite and your passion. I would encourage those wanting to start up consultancy businesses in markets that are perceived to be oversaturated to do it anyways. What’s meant for you, will always find you. As a final thought, focus on your USP (unique selling point) as this will set you apart from your competitors.

Before you identify your niche, discover your own unique skills, abilities, experiences & passions and your why. Once you are clear about what sets you apart, think about who would resonate with you and your services, who could benefit from what you can offer. This is the most effective way to identify your niche. It's like looking in the mirror.

Worin besteht Ihr pers?nliches Interesse in diesem Bereich? Was haben Sie selbst erlebt, bewirkt, gestaltet? Welche Vorbilder sind Ihnen begegnet?

I had to drill down into what I would like to call my 'sub-niches'. This was the result of the feedback obtained from my engagements with potential clients which made me realise that there have even more specialised needs. Example: Niche: Human behaviour analysis Sub-niche 1: For change management Sub-niche 2: For talent management

Formulate your strategic focus platform, from where you intend to roll out, your targetted sub-strands and outcome. A basic structural focal point, would be to seriously consider, the positions and status of the populace, you're dealing with directly. This basic understanding is required, to enable you to know that it is ceetainly not a level field out there.

Defining your services involves thinking about what exactly you would like to offer your potential clients. The nature of a consultancy business is that it is capable of being multi-faceted so you can offer a variety of services under one umbrella. I would suggest having a website as this is a platform which will enable you to showcase all your offerings. There is no need to overcomplicate your value proposition, use simple language that is clear and precise in explaining what you are offering to your desired market. It is imperative that your sales funnel (your website) is user friendly.

Once you are clear about who could benefit from what you can offer (see above) reflect on the client's needs. What are their pain points? What are their desires? Then identify how you can help them. And start on some practice clients to gradually develop your services and gain experience.

Wichtiger als Ihre Dienstleistung ist der Nutzen, den Sie Ihren Kund:innen anbieten. Wenn Sie beispielsweise mehr Sicherheit in der Arbeit anbieten, ist es zweitrangig, ob Sie dafür ein Sicherheitssystem, eine regelm??ige Begleitung durch Coaching oder ein KI-Tool verwenden wollen.

Ihre Preise sollen sich nach dem Nutzen richten, den Sie Ihrem Kunden anbieten. Seien Sie nicht zu billig, sonst ist Ihre Leistung/Ihr Produkt nichts wert. Beachten Sie: der Preis spiegelt den Wert Ihrer Leistung und nie den Wert Ihrer Person!

Brand building is the most difficult part of the journey requiring patience, fortitude and agility. Further, it is an ongoing project for your consultancy business. What makes brand building difficult is that it requires you to understand who you are and how you want to present yourself to your audience. Authenticity is the secret ingredient as this is more sustainable. Leverage all social media platforms to present yourself to your desired market so that they can get to know who you are, which should be easily distinguished from what you are offering.

When building your brand, be the Purple Cow (Seth Godin). How can a business get noticed if it’s not different? Being exceptionally different, being the “Purple Cow” among the brown and black cows, will have people stop and look at your business. When other people see what you are good at and passionate about, you fascinate and attract them. This is a powerful way to become a magnet for the right customers, co-workers and business partners. In a crowded marketplace, fitting in is failing. In a busy marketplace, not standing out is the same as being invisible. The more crowded the marketplace, the busier your customers, the more you need the Purple Cow.

Marketing is not just being in peoples' faces. Remember, clients will want your products and services because of ● who you are ● what sets you apart ● how you deliver your products/ services ● the quality of your products/services ● their experience with your company and the products/services ● the results they realize by using your products/services So when you market, think how you can share content related to the above.

One thing I’ve found helpful is to identify your strengths and weaknesses. Budget and time permitting, outsource your weaknesses at your earliest convenience. It may seem obvious, however, here are a few questions to answer: 1. What is the customer experience for potential leads? 2. Which platform(s) are your services available for procurement? 3. How will you be patronised? These are elements of the business which should be on autopilot. Identify which elements of the business are outsourced, automated and which require your time and attention. This will help you in managing your consultancy business is the most cost effective and efficient manner.

Once you developed your business plan, it's crucial to stay on track to manage all you need to do. I ask my clients to review their actions regularly and break down the actions into manageable steps. It is most powerful to break it down as follows: 1. Monthly: Review your strategy, actions and accomplishments and document your progress. Celebrate the accomplishments. Modify the actions as needed. 2. Weekly: Review your strategy and identify the week’s priorities. Write out your weekly priorities 3. Daily: At the end of your work day, look at your weekly priority list to identify the key tasks you want to accomplish tomorrow.

For anyone aspiring to start a consultancy business, the first step is to prepare a business plan. This document consolidates all elements of the business including your vision, mission, marketing strategy, finances and future ambitions. It serves as a reference point and holds you accountable. Depending on how technologically and technically advanced you are, a Gantt chart and financials, should accompany your business plan. These documents should be revisited frequently to measure your progress and be adjusted accordingly to business growth.