What are the top mistakes to avoid when starting your own consulting business?

Nope. Having founded and managed one for 25 successful year, I would add this: . Not controlling your overhead. So many new consultants spend money in anticipation of making money. I found that for every 3 good years, I had one awful year. Operate on worst case assumptions. . Trying to compete with large firms. One of my best clients said this to me: Small boats turn faster. You are a small boat, leverage that as an advantage because it is. . Expecting to have "free" time. When you aren't doing the work, you are developing new work. I skipped family vacations, I returned a client call being rolled into pre-op. . When you feel secure is when your business will start failing.

Forgetting about life that happens beyond the business we want to establish. Work-life balance, or rather LIFE balance is even more important when you are an entrepreneur. Being disciplined about it. Nobody wants to have a freshly baked business but being divorced, overweight or burn-out. Take care of yourself. You deserve it and when you’ll be well - things will fall in place ????

Always remember to keep things clear and consise. A wordy marketing campaign is a forgettable one. Be clear, direct, and consise.

O primeiro erro é n?o planejar. O planejamento e o cumprimento desse planejamento com seriedade é quest?o primordial para atingir o sucesso. Pesquisar o mercado, demonstrar o diferencial e inova??o que o seu negócio oferece aos seus clientes s?o parte do planejamento que podem te levar ao sucesso.

?? No definir tu nicho: Es esencial enfocarse en un área específica en lugar de tratar de abarcar demasiado. ?? No establecer metas y expectativas claras: Tener objetivos bien definidos y comunicarlos claramente es crucial. ?? Tarifas incorrectas: Cobrar demasiado o demasiado poco puede ser perjudicial. Es importante valorar tus servicios adecuadamente. ?? Temor a decir NO: Es importante no comprometerse con trabajos que no se ajustan a tus habilidades o valores. ?? No tener un plan: Es fundamental tener un plan claro para la entrega de servicios y el crecimiento del negocio. ?? Subestimar lo que prometes al cliente: Asegúrate de poder cumplir con lo que ofreces.

Registration with all the relevant bodies and have certificate, office location should be accessible and record should be kept and maintain all the time.

Time management is one of the most delicate tasks. The fine boundaries of your free time are also fragile. Start by assigning a specific time slot for each administrative task in your calendar. Put the pen down /close the laptop or the platform when the assigned time expires, take a break, and move to the next event.

Before a project or task, strategize what your day/week/month should look like at a high level. After you understand the requirements, take the time to schedule out your plan/day.

Not creating a business plan. Lack of marketing. Not choosing a target audience, Not diversifying your client base. Losing focus. Never act overconfident and arrogant with your clients.

Your strategic bottleneck is not your competence or your scarce resources. It is (1) access to knowledge about lucrative/prolific clients, and (2) viable ways to introduce yourself to them. The problem here is not only where and how to show up, but also how to find time for that. The challenge is to enhance your visibility and bring out your product, service, and expertise on the right forums.

Think about it this way. If it is a process/problem you have to look up, consult multiple sources, or "wing it" to figure it out. Then that should be a blog post or article. Be the authority on the subjects you struggle with and you will stand far above and beyond your competition.

????Simply having expertise is not enough. You need a robust marketing strategy and networking to attract clients . Neglecting this can lead to a slow start, limit your opportunities and growth. ????Also underestimating the Importance your personal brand and business brand can affect your credibility and client attraction.

Plain and simply you need to be proactive. If you aren't planning for, and executing on, set time for growth proactively then you aren't being accountable and you are more or less planning to fail then.

Don’t forget the extras you will need to start your business and invest in: - insurance (business & public liability) - accountant & business fees - company registration costs - IT equipment (laptop, phone, etc) - internet connection (broadband) - subscriptions & membership fees

Learn the numbers. Very simple math. You charge for a day’s work 10 [choose your currency; I use here “carrots” to make this fun]. Your costs are 6 carrots (incl. materials, marketing, insurance, a percentage of overheads, etc.). You make a profit of 4 carrots, from which the taxman cuts his share, say, a quarter – leaving you with 3 carrots. You need (or just want?) a new writing desk, which costs 12 carrots. Three questions to ask: (1) do I need this? (2) does it bring carrots in? (3) is it worth of four days work (12:3=4)? Remember, eager salespeople always try to get their share; this exercise helps you to consider things twice.

Immerse in the industry that you service. Get to know the people involved. Attend relevant seminars and trade events. Join associations. The more important thing is not what you know but who knows what you know.

Other mistakes to avoid are: 1) not having a clear plan. 2) not utilising your community and contacts. 3) not having enough money behind you. Although they seem obvious, it is worth running your plan by trusted people in your circle to make sure you haven’t missed anything or need to consider something else.

Lessons I learned: -To start any business, you need a client -The more extensive your network, the higher the chance of getting leads and references. -Don't underestimate the long-term value of a short engagement. Know your passion, talk your love, and live it. An excellent first impression is a lasting one. -Partner and surround yourself with like-minded people knowledgeable in your field. -Give freedom to your team to add value. Structure is vital, but there needs to be room for creative thinking. One of them might reveal your unique selling point. You are setting your consultancy apart from the rest. -Know your competition and follow their moves.