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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