By: Lindsay Angelo, Strategy and Foresight Consultant, MBA, TEDx Speaker
Are you eager to unleash your entrepreneurial spirit as an independent business consultant while still maintaining your full-time job? Get ready to embark on a journey to becoming a successful and sought-after independent consultant.
In this article, we'll walk you through the steps to attract potential clients, create a wide range of business consulting services, and build a thriving consulting business. Let's dive in!
Assessing your Skills and Expertise as a Business Consultant
To succeed as a consultant, first and foremost, it's essential to assess your practical experience, industry expertise, business acumen, and strategic thinking. Try to identify your unique combination of skills by answering the question: "What are you uniquely qualified to deliver to the world?"
I know, a big question….but a juicy one oh-so-worthy of rumination!
For example, if you have a strong background in project management, perhaps you can help businesses streamline their operations, improve efficiency, and deliver projects on time and within budget. On the other hand, if you've honed your expertise in human resources, perhaps you can assist companies in developing talent acquisition strategies, implementing performance management systems, and fostering a positive work culture. Or perhaps effective communication and problem-solving abilities are your forte!
The key is to leverage your unique professional and personal experience (and story) to offer valuable insights to your clients. That way, you can provide them with impactful, unique, solutions tailored to their specific needs.
How to be a Business Consultant: 5 Steps
Now that you understand the importance of assessing your skills and expertise, let's dive into the practical steps you can take to become a business consultant:
1. Defining Your Services and Target Market
Building off the previous exercise, you want to clarify your consulting services. There are a wide variety of Consultants out there. Which type are you? Whether a Management Consultant, Marketing Consultant, UX Consultant, Public Relations Consultant, Legal Consultant, Futurist Consultant, AI Prompt Engineer Consultant, or in another field, ensure your services align with the needs of your target audience. Pinpoint your ideal client and tailor your offerings to their requirements. By understanding their pain points, you'll start to position yourself as the go-to consultant for professionals within that particular niche or industry.
Example: As a marketing consultant, you could offer services tailored to helping startups and e-commerce businesses drive customer acquisition, boost online visibility, or implement targeted marketing campaigns. Your target market would consist of entrepreneurs and small business owners seeking to expand their online presence and increase revenue through strategic marketing initiatives.
2. Setting Up Your Full time or Side Hustle Practice
Launching your consulting business requires some down and dirty strategic planning. Once you've identified your brand and services, establishing a professional brand identity that resonates with prospective clients is key. Start with a memorable business name and website. As with any strong brand, your assets should reflect your expertise, values, and the benefits clients can expect from working with you.
If you're just starting out, partner with a basic platform such as Squarespace or Wordpress to build your website. You can either do it yourself or hire someone off of Fiverr or Upwork to build it for you. Websites are modern-day business cards so you'll want to ensure yours is professional, engaging, and reflects your unique brand. Showcase your expertise, credibility and unique personality!
Hot tip⚡️: Build a blog early on so that you can later add content that's optimized for SEO (search engine optimization). As you build your authority, content can be a great way to attract clients.
3. Marketing and Promoting Your Business
To attract clients, employ a targeted marketing strategy that speaks directly to your target market. Craft compelling messaging that emphasizes the unique value you offer as a Consultant. Also, choose a marketing avenue that connects with your audience and that you enjoy working within. This could be social media platforms, targeted email marketing, LinkedIn marketing, or even attending industry events—whatever you choose, if you enjoy it, it will give you all the more likely to adhere to it!
Consistency is key here. Let's say you choose social media to market yourself - you’ll want to post valuable content on a recurring basis—informative articles, helpful tips, trends, the world if your oyster! This will help position you as a trusted authority in your field.
Utilize online platforms like LinkedIn to connect with professionals, and join industry-specific groups to expand your network. Remember, building a solid client roster takes time, but with a strategic and consistent marketing approach, you'll attract the right clients who recognize the value you bring to the table. Want to deep dive into client acquisition strategies? Check out our Permissionless Consultant Accelerator for more information.
4. Delivering High-Quality Consulting Services
As a successful consultant, your ability to leverage your soft skills, practical experience, and industry expertise will set you apart. For instance, let's say you specialize in management consulting. You can lean on your problem-solving abilities to analyze complex business challenges, develop strategic recommendations, and guide clients toward effective solutions. Your leadership skills will enable you to inspire and motivate teams, driving positive change within organizations. Your business acumen arms you with the ability to deliver valuable insights and guidance on financial planning, market analysis, and operational efficiency.
But it doesn't stop there. Effective communication is also key to building strong relationships with clients. By actively listening, understanding their needs, and articulating your ideas clearly, you can ensure your clients' goals are fully understood and addressed. Your commitment to their success becomes paramount, driving you to deliver high-quality services that exceed their expectations!
Want to level up your consulting skills? Enroll in our Strategic Thinking Masterclass today and master your problem-solving!
5. Growing Your Business
To nurture your consulting business, adopt a growth mindset and actively seek opportunities for expansion.
Seek out coaching and mentorship from those who have paved the path before you.
Develop a deep understanding of your target market, their pain points, and their needs. Identify prospective clients who align with your services and tailor your offerings to meet their specific requirements.
Example: If you specialize in providing digital marketing consulting services, cultivate a deep understanding of the challenges faced by small e-commerce businesses. Stay updated on industry trends and emerging strategies to offer cutting-edge solutions. Remember, every consultant is a futurist. Your clients will rely on you to peer into the future, so stay on the pulse of trends. Collaborate with other professionals, such as web developers or graphic designers, to provide comprehensive solutions to your clients.
As you successfully execute projects and deliver results, you'll establish a powerful reputation, attracting more clients who recognize and appreciate your expertise.
Dancing in the independent consulting arena is as much mindset as it is skill!
Wanting to launch a side hustle before taking your act full time? Here's how to balance your full-time job and side business
Maintaining a balance between your full-time job and your consulting business is a continuous practice. Here are some tips to help you navigate this balancing act:
Prioritize and Manage your Time. Set clear priorities and allocate dedicated time for your consulting business. Create a schedule that allows you to fulfill your responsibilities for both your full-time job and your consulting projects. Prioritize tasks based on urgency and importance.
Establish Boundaries. Clearly define the boundaries between your full-time job and your consulting business. Communicate your availability and working hours to clients, ensuring they understand your limitations. Avoid taking on more projects than you can handle or overcommitting yourself, as it can lead to burnout and compromise the quality of your work.
Leverage your Project Management Powers. Utilize project management techniques to stay organized and ensure efficient project execution. Break down tasks, set deadlines, and create realistic timelines for your consulting projects. This will help you manage your workload effectively and deliver results on time. Softwares such as Monday.com or Trello can help you stay organized.
Communicate Effectively. Maintain open and transparent communication with your consulting clients. Clearly communicate your availability and set expectations with clients regarding response times, deliverables, and project timelines to manage their expectations effectively.
Be Patient and Persistent. Balancing a full-time job and a consulting business requires a balance of patience and persistence. It takes time to build a client base and establish your reputation. Stay committed to your goals, remain focused on delivering high-quality work, and most importantly, trust the process.
Training and Development Resources for Independent Business Consultants
To further enhance your skills and maximize your potential as an independent consultant, it's crucial to invest in your professional growth.
Looking for more support in your consulting journey? Our brand new training program, Permissionless Consultant, offers customized coaching, a community, and a curriculum to launch your independent consulting business today—either on the side or full-time! Learn more about how to enroll in our exclusive Beta cohort here.
Remember, betting on yourself is the best investment you can make. So don't wait! Our goal is to provide access to the same tools we used to build a multi-six-figure purpose-driven consultancy—without an online presence and without big corporate consulting experience.
Write your own permission slip now and kick-start the journey to becoming a successful consultant!
Frequently Asked Questions (FAQs)
WHAT SKILL IS MOST IMPORTANT AS A CONSULTANT?
As a consultant, your superpower lies in critical thinking. Clients will rely on your expertise to tackle complex issues that impact their businesses. Whether they have a general direction or need you to kickstart the discussion, your problem-solving skills will be in high demand. To excel in problem-solving, it's crucial to grasp the MECE (Mutually Exclusive, Collectively Exhaustive) framework and issue trees.
You can learn more about MECE framework and issue trees here. Want to deep dive in both? Enroll in our Strategic thinking Masterclass now.
HOW DO I DETERMINE CONSULTING RATES?
Determining consulting rates depends on several factors, including your expertise, market demand, industry standards, and the value you provide to clients. Research the market rates for consultants in your field, consider your experience and unique offerings, and assess the specific needs and budget of your target clients when setting your rates. For customized coaching from a seasoned consultant, enroll in our Consulting training today.
WHO IS THE CONSULTING TRAINING FOR?
Our Business Consulting Training is suitable for individuals aspiring to become business consultants, including corporate professionals across all fields, current freelancers or advisors looking to level up their skills, and/or those interested in starting either a side hustle or a full time consultancy. We cater to all industries and niches!
What are the different types of consultants?
Successful business consultants come in all different types and forms! This includes management consultants, financial consultants, sales consultants, operations management consultants, business strategy consultants, accounting consultants, social media marketing consultants, cloud business consultants, strategic planning consultants and more. Different types of consultants take on different types of projects. There are independent consultants, traditional consulting firms and boutique firms. Consulting success can come in different packages and offer different career options depending on your goals. Have a new type of consulting in mind? Don't be afraid to start-up a new niche! Want to start up a successful consulting business? Click here to learn more about our training program.
Why do I need a business plan before starting my consulting business?
A business plan is essential for any consultant starting out. It acts as a roadmap, outlining your goals, target market, service offerings, and financial projections. Having a clear business plan ensures you’re prepared to meet client needs, set realistic expectations, and guide the growth of your consulting business. It's also crucial when seeking funding or partnerships, as it demonstrates your seriousness and strategic approach to potential stakeholders.
Is business insurance necessary for consultants?
Yes, having business insurance is a crucial step in protecting your consulting business. Whether you're working as an independent consultant or running a small firm, business insurance safeguards against potential risks such as legal disputes, client dissatisfaction, or unforeseen business interruptions. It’s an important consideration that ensures your business is protected from liabilities that could otherwise result in significant financial loss.
How important are email lists for a consulting business?
Building and maintaining email lists is vital for the growth and sustainability of your consulting business. An email list allows you to stay in touch with past, current, and potential clients, keeping them informed about your services, expertise, and any new developments. It also serves as a direct marketing tool, enabling you to share valuable insights, build relationships, and generate leads for your consulting practice.
Should I attend networking events as a consultant?
Attending networking events is a highly effective way to grow your consulting business. These events provide opportunities to connect with potential clients, industry peers, and other professionals who can refer business to you. Networking events are also great for staying updated on trends in the consulting industry and expanding your knowledge and expertise. Building a strong network is crucial for gaining new clients and establishing your reputation in the industry.
What type of business structure should I choose for my consulting practice?
Choosing the right type of business structure is an important decision when starting your consulting business. Many consultants start as sole proprietorships, which is the simplest structure and offers flexibility. However, as your business grows, you may want to consider other structures such as LLCs or partnerships to protect your personal assets and optimize your tax situation. The type of business you choose will depend on your goals, financial situation, and the level of liability protection you need.
Can I start a consulting gig while working a full-time job?
Yes, starting a consulting gig on the side while maintaining a full-time job is a common approach. It allows you to test the waters, build a client base, and gain experience without the financial pressure of relying solely on your consulting income. Many successful consultants began their careers this way, gradually transitioning from side gigs to full-time consulting businesses once they established a steady stream of extra income.
What should I consider when setting hourly rates for consulting?
Setting hourly rates is a critical aspect of managing your consulting business. Your rates should reflect the value you provide, the market rates in your industry, and your level of expertise. Consider researching what other consultants in your niche charge and adjust your hourly rates based on the specific needs of your potential clients and the type of consultant you are. Balancing competitiveness with profitability is key to ensuring your rates are sustainable.
How can I identify opportunities in the consulting market?
The consulting market is vast and filled with opportunities for those who know where to look. Stay informed about industry trends, attend relevant networking events, and engage with other professionals in your field. This will help you identify gaps in the market where your expertise can fill a need. Additionally, regularly reviewing your business plan and pricing strategies can help you pivot to new opportunities as they arise and stay competitive in the ever-evolving consulting industry.
ABOUT THE AUTHOR
Lindsay Angelo is the founder of Permissionless Consultant, supporting purpose-preneurs in launching their practices to create impact, freedom, and a life they love. She's also a practicing and award-winning Strategist, Futurist, MBA, and TEDx speaker. She launched her consulting firm six years ago with the goal of helping purpose-driven brands and business owners drive growth and impact. Since then, she's more than tripled her prior earnings while advising entrepreneurs, think tanks, celebrities, and Fortune 500 companies—all the while creating a nomadic lifestyle rooted in travel, family, and community. Named a Woman to Watch and Global Innovation Leader, Lindsay has delivered over 100+ keynotes and is the creator of a signature blueprint for driving brand growth and impact. A born entrepreneur, former NCAA athlete, and wellness warrior, she sits on the Advisory Board for World Business Research. She contributes to a variety of media houses including CBS, The Globe and Mail, Retail Executive, and the National Post. She believes magic happens where logic meets intuition, where the rational meets the emotional, and where facts meet insights.
