Find Out How to Finally Get Your Consulting Business Started With Entrepreneur’s Expert-in-Residence

If you’ve ever considered consulting, now’s a great time to dive in. March 28, 2020 2 min read Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. Physical office spaces around the world are closed for the foreseeable future, creating the biggest global remote workforce yet. The business world had already been trending in the remote direction but in the wake of the coronavirus, the office space may never look the same again. If companies continue to feel more comfortable with remote, external help, then, consultants will be even more in demand. As such, if you ever thought about launching a consultancy, now’s a great time to start ramping things up. If you don’t know where to start, Entrepreneur’s Digital Marketing Expert-in-Residence […]

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How to Save Your Consulting Business by Shifting Online

Leverage technology and processes to maintain your consulting business online. March 17, 2020 11 min read Opinions expressed by Entrepreneur contributors are their own. With an increasing number of people working from home or practicing other forms of social distancing, it can be challenging to maintain a consulting business. All the plans and projections you’ve established can easily change on a day-to-day basis, leaving you concerned about how you’ll be able to sustain your business.  Although this situation is globally challenging, the solution for many consultants is clear: offer remote services. I’ve worked as a business consultant for the past five years, 95 percent of my business is done remotely. Initially, this was done out of necessity, it was too challenging to consult onsite in Manhattan and make it back home to Brooklyn so I could pick up my children from daycare. Over time, I discovered it was much more efficient, and […]

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How to Start a Consulting Business: Determining Your Rates

The rates you set send a message to perspective clients. March 10, 2020 9 min read Opinions expressed by Entrepreneur contributors are their own. How much should you charge as a consultant? This can be an extremely challenging question to answer because it involves doing research, taking risks and proper planning. Fortunately, all three of these skills will come in handy as an entrepreneur so you may as well get used to it now.  In most cases, I strongly suggest asking the prospect what their budget is. If they have a number in mind, you can see how well that aligns with what you were going to charge. You might find the prospect has a much higher budget than you anticipated. However, they may respond to that question by asking what your rate is. To avoid volleying back and forth before one of you gives up, you’ll need to have this established […]

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Carve Yourself a Unique Niche

Rather than fishing in crowded waters, shrink the pond by honing in on what you do best. March 9, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. When you ask an average business audience to name the first person to fly solo, non-stop across the Atlantic, most people know it was Charles Lindbergh. Most can also name Amelia Earhart as the first woman to achieve that feat. But silence usually prevails when people are asked to name the second or third aviator to do it. The fact that the third person was Earhart reveals an important facet of human psychology, namely that we tend to remember people and things based on their category rather than as part of the broader whole. If you are the first or the best, that tends to stick. Related: How to Start a Consulting Business: Determine Your Business Model Consultants and professional […]

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How to Start a Consulting Business: Determine Your Business Model

Take the next big step in launching or scaling your consulting business. February 13, 2020 9 min read Opinions expressed by Entrepreneur contributors are their own. In my previous article How to Start a Consulting Business: Get Ready to Launch I detailed the need to get clear on who you want to help, and exactly how you’ll do so. Soon, we’ll answer the (hopefully) million-dollar questions: “How much should I charge?” When I first started my consulting business in 2015, nearly every prospect I talked to signed on to work with me. Why? Because I wasn’t charging enough. One client literally said, “I’ll gladly pay that rate”. Now, people shouldn’t hate paying you, but that was certainly a red flag on my end.  But before determining your consulting rate, you need to establish your business model. In his book, The New, New Thing, financial journalist Michael Lewis eloquently describes what a business model […]

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Take Your Career into Your Own Hands By Becoming a Consultant

Learn how to pitch prospects and convert them into clients. September 15, 2019 2 min read Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. The world of consulting is booming as businesses trend towards bringing in outside help for projects rather than hiring full-time employees. Consultants, meanwhile, stand to make a great living while remaining free to take on as many or as few clients as they’d like while maintaining a flexible schedule. It’s a win-win for both parties. If you’ve already got some in-demand expertise, in project management or software engineering for example, you may be primed to launch a consulting business. Entrepreneur‘s How to Launch a Consulting Business will show you how to leverage your skills in pitch and […]

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6 Income Streams You Can Create in the Corporate Consulting Space

Corporations have billions budgeted for consultants. May 28, 2018 5 min read Last year, according to Bloomberg, corporations paid outside consultants $39.3 billion dollars. Corporate consulting is one of the highest margin business opportunities available. The average business or marketing consultant generates $175,000 a year, according to USA Today.  For soloprenuers, freelancers, agency owners and entrepreneurs who can train, it’s an opportunity to generate multiple income streams in an industry that has billions set aside to spend. You can take your skills, knowledge and expertise into the corporate consulting space. Even though corporations have employees who can do various tasks that you would consult on, they prefer an outside perspective and fresh strategy. I know this because I do corporate consulting gigs in 25 countries a year. I’ve seen firsthand how much corporations are willing to invest in training. If you are going to enter the corporate consulting space — or you’re already in it — […]

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