Consulting Business Startup SuccessCapitalize on the New Trends & Niches of Today's Consulting BusinessMillion Dollar Startup Solution
Since 2000, this industry has seen constant growth year over year, especially during and after the pandemic.
This is the newest trend in business. The business world has gotten smarter, slimmer, and meaner. Instead of employing more people, they now rely heavily on hiring consultants.
Hiring a consultant is easier; it is a contract job, and these consultants are not on the company's payroll; there are no benefits, no 401K plans, and no health insurance for them. So, companies have fewer expenses and lower legacy costs.
Let's now discuss what it takes to be a consultant. Do you need a Ph.D. in a subject to be a consultant? Sure, that will help, but most of us do not have such degrees. In reality, 75% or more of professional consultants in the workforce today do not have more than a Bachelor's degree. Out of that 75 %, around 20% do not even have a Bachelor's degree.
Being a consultant is not about having a degree but about knowledge of a specific subject.
I have a friend who worked for a solar panel maker for a few years. He recently started his own solar conversion consulting company and is doing very well. The best part is that he never went to college.
If you wonder why and how this is possible, think about it: by working at a solar panel-making company, he had plenty of exposure to everything solar. As a consultant, he consults companies on solar conversion and saving energy costs. He is enjoying the fruits of the Green Living movement.
If you want to be a consultant, you first need to do soul-searching. Answer these three questions:
- What are you most passionate about?
- What topic/subject do you know the most?
- How can you combine your passion with your knowledge?
In this book, I share the nuts and bolts of consulting. It is written as a guide to help you decide how to become a consultant.
Here is an inside peek at what you will learn:
Part -1
- Qualifications to become a consultant
- Types of consulting
- The current state of consulting business
- Mergers and Acquisitions
- Emerging markets
- New Laws
- New opportunities in the consulting industry
- Increased segmentation and specializations
- Working in Virtual Teams
- How to find a master niche in consulting
- How to check your marketable skills and experience
- Find out the demands for your skills
- Determining how much clients pay for your skills
- Searching for a more profitable niche
- 10 Groundbreaking new consulting niches you can do without a degree
- How to become a master in a niche
- How to become known in a niche
Part -2
- Setting up your consulting business
- Licenses, permits, registration, and regulations
- Setting up a company
- EIN, Bank account, and Insurance
- Setting up your office
- Creating presentations for clients
- Preparing Proposal Templates
- Designing your price/rate structure
- How to negotiate consulting contract
- Negotiating strategies
- Getting ready for your first project
- The Welcome Kit
- Collecting payments and paying taxes
- Building and maintaining relationships to grow your business
Bonus
- Sample Contract for Consulting Business
- Sample Articles of Incorporation
