Become an Entrepreneur as an Independent Consultant in Your Second Career

Do you want to become an independent consultant and pursue entrepreneurship as a second career? A lot of Baby boomers, Generation X’ers, and some even younger nowadays have started their very own consulting business.

This is an excellent career option. However, there is also much planning involved. It is work too you know. To help you get going, we have gathered together some tips from experts which you will find below.

1. Apply Serious Concerted Effort

There is this image that a lot of new consultants make – and that is the image of a coach that is in between jobs. You turn off leads that way.

Never strike that impression. It would help if you did all you can to avoid making that impression. That means you should prepare everything from business cards to your very own website. It would help if you also established your presence in social media.

2. Working from Home is the New Trend!

If you work from home (in a home office) as a consultant, then don’t pretend otherwise. It’s best to come clean with your clients – you can always take your meetings in their offices.

On top of that, working from home is the new trend today that continues to grow. Some clients will love to make deals with the actual person who works rather than a rep who sells the service. Plus working from home means you don’t charge overhead, which does include sales commission.

 Click Here For "The 13 Entrepreneur Success Tips"

3. Ex-Employer = First Client

Many successful consultants have revealed that their very first and significant client was the employer that they were leaving. Their former employers became such a reliable client.

You should explore that opportunity especially if you and your last employer are on good terms. Of course, that will not always work for everyone. If that isn’t turning out well for you, then you can close your doors entirely and move on.

4. Find Financial Sources for Upcoming Late Payments

Remember that when you go into the consulting business, you have entered an invoice to the invoicing and billing world. This means you should expect late payments. Sometimes it takes weeks before you get paid and sometimes it takes months.

Never hassle any client for your payment. They usually have turned their invoices to someone else who is now processing payments. The right way to follow up is to find out who is in charge of the payment schedule.

However, that won’t solve your cash flow problem. Moreover, that is where a bank line of credit will be beneficial. Use it as your backup in case a client pays late so you can still have cash on hand just in case. Most important however is to understand their process ahead of time.

5. Over Deliver Even If What They’re Asking is Outside of Your Service Contract

Why would you do that? The answer is simple – you’re looking to keep repeat clients. That is your key to growth and continued cash flow. Remember that it is four times more difficult to find a new client than to it is to get a repeat customer.

That means if you have to do a small job first to demonstrate your skills then so be it. You may end up getting a repeat order in the not so distant future. Even if they call you at 3 O’clock in the morning to consult on a pressing matter – go. It will establish your relationship of trust, and you will get a repeat customer.

There you go, those are our five tips to become an independent consultant as a second career. These are expert common sense secrets that are now in your hands.

About The Author

Professor Theodore Henderson is an Author-Coach-Trainer, working with entrepreneurs, small businesses, and executives for business and leadership success. Click for info.