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You want to take your Economics consulting to the next level. How can you make that happen?

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You love Economics and you have a knack for solving complex problems with data and logic. You have been working as a consultant for a while, but you feel like you are not reaching your full potential. You want to take your Economics consulting to the next level, but how can you make that happen? In this article, we will share some tips and strategies to help you boost your skills, reputation, and income as an Economics consultant.

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Dr. Mohammed Saharti, PhD

Professor of Finance and Economics | Economist

1 Define your niche

The first step to take your Economics consulting to the next level is to define your niche. What are you passionate about? What are you good at? What are the problems and needs of your target market? By focusing on a specific area of expertise, you can stand out from the crowd, attract more clients, and charge higher rates. For example, you could specialize in behavioral economics, environmental economics, health economics, or any other subfield that matches your interests and skills.

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Dr. Mohammed Saharti, PhD

Professor of Finance and Economics | Economist
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Personal Experience: Specializing in a specific area of economics allows you to become a recognized expert. Early in my career, I noticed a high demand for environmental economics expertise amid growing concerns about climate change and sustainability. By focusing on this niche, I was able to differentiate myself and attract clients looking for specialized knowledge. Approach: Conduct market research to identify areas of high demand but low supply. Consider your interests and where you can offer the most value. Specialization can lead to higher billing rates and more referred work.

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2 Build your portfolio

The second step to take your Economics consulting to the next level is to build your portfolio. Your portfolio is your showcase of your work and achievements. It should demonstrate your skills, knowledge, and value to potential clients. You can create your portfolio by working on projects that are relevant to your niche, publishing your research or analysis on blogs or journals, or creating case studies or testimonials from previous clients. Your portfolio should be updated regularly and accessible online.

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Dr. Mohammed Saharti, PhD

Professor of Finance and Economics | Economist
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Approach: Create a diversified portfolio that showcases your best work, including research papers, policy analyses, and case studies. If confidentiality agreements allow, include summaries of consulting projects you've worked on, emphasizing the impact of your work. Personal Experience: I built my portfolio by contributing to open-source research projects and publishing articles on my website and in economic journals. Sharing my insights on social media and professional networks also helped attract attention to my work.

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3 Network and market yourself

The third step to take your Economics consulting to the next level is to network and market yourself. Networking is essential for building relationships, finding opportunities, and getting referrals. You can network by attending events, joining online communities, or reaching out to your contacts. Marketing yourself is important for raising awareness, generating leads, and establishing credibility. You can market yourself by creating a website, a blog, a social media presence, or a newsletter. You should also have a clear and compelling value proposition that explains what you do, how you do it, and why you are different.

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4 Learn and improve

The fourth step to take your Economics consulting to the next level is to learn and improve. As an Economics consultant, you need to stay on top of the latest trends, developments, and tools in your field. You also need to constantly hone your skills, expand your knowledge, and challenge yourself. You can learn and improve by taking courses, reading books or articles, watching videos or podcasts, or joining workshops or webinars. You should also seek feedback, mentorship, or coaching from others who can help you grow.

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Dr. Mohammed Saharti, PhD

Professor of Finance and Economics | Economist
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Personal Experience: Continuous learning has been key to staying ahead. I regularly enroll in online courses to learn about the latest economic models and data analysis tools. Peer feedback on my work has also been crucial for improvement. Approach: Stay updated with the latest research and methodologies in your field. Attend workshops and seminars, and consider obtaining certifications that can enhance your expertise and credibility.

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5 Manage your time and money

The fifth step to take your Economics consulting to the next level is to manage your time and money. As an Economics consultant, you are your own boss, but you also have to deal with the challenges of self-employment. You have to plan your work, set your goals, prioritize your tasks, and track your progress. You also have to manage your finances, set your rates, invoice your clients, and pay your taxes. You can manage your time and money by using tools, apps, or software that can help you organize, automate, or streamline your work.

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6 Deliver value and results

The sixth and final step to take your Economics consulting to the next level is to deliver value and results. Your success as an Economics consultant depends on your ability to satisfy your clients, solve their problems, and exceed their expectations. You have to deliver high-quality work, communicate effectively, and meet your deadlines. You also have to measure your impact, showcase your results, and ask for testimonials or referrals. You can deliver value and results by following best practices, using data and evidence, and adding your personal touch.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Jareth Jawno

Strategy Consulting | Financial Consulting | Economics Graduate | Reichman University Alum
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Expectations set = expectations met. As long as both parties (the consultant and the consulted) both enter the project discussing their expectations and are on the same page, both parties are likely to come out with a positive experience! Consulting is as much about people as it is the business.

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You want to take your Economics consulting to the next level. How can you make that happen?

1

2

3

4

5

6

7

1 Define your niche

2 Build your portfolio

3 Network and market yourself

4 Learn and improve

5 Manage your time and money

6 Deliver value and results

7 Here’s what else to consider

Economics

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You want to take your Economics consulting to the next level. How can you make that happen?

1

2

3

4

5

6

7

1 Define your niche

2 Build your portfolio

3 Network and market yourself

4 Learn and improve

5 Manage your time and money

6 Deliver value and results

7 Here’s what else to consider

Economics

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