You finally did it: you made the thrilling decision to become a consultant. But even though you've committed, you might find yourself wondering, what now? Establishing yourself as a consultant can be a daunting prospect regardless of how qualified you are. For that reason, it's important to have a road map and a support system in place as you begin your consulting career.
While everyone's journey as a consultant will be unique, there are a few core things to keep in mind as you set yourself up for success:
Establish Your Niche and Skill Set
This may seem obvious, but it's an important foundational step that bears careful attention for two reasons. First, from a business development standpoint, having a clear idea of your niche, your skills, and the services you plan to offer is essential to nailing down your ideal client—that is, your target audience. In turn, this will help you define your marketing strategies and structure your business. Understanding which industry you intend to focus on will also guide your research efforts and help you stay informed about relevant news in your industry.
Further, consulting is a growing industry, which means that you will inevitably face competition for your clients at some point. As a result, it's essential that you be able to confidently and definitively articulate what you do and why you're better at it than everyone else. As you outline your services and specialties, ask yourself, what can I bring to the table that no one else can? That's your advantage, and will be a key component of your marketing efforts.
As you consider your options, it's a good idea to do some research on the state of the consulting field—particularly, which niches have the greatest demand for consultants, which ones are up-and-coming, and which ones are already oversaturated. Understanding how things stand may affect your decision about which niche to specialize in and/or your approach to building your business.
Learn to Market Yourself
Especially if you are a freelance consultant, simply being good at your job isn't enough. You will have to successfully market yourself to potential clients, but first, you'll have to research marketing strategies and figure out which one is the best fit for you. Will you take a slower, organic approach to marketing, or will you utilize more aggressive advertising techniques? Will you focus on good old-fashioned networking, or will your approach incorporate digital marketing avenues such as social media?
The answer to these questions will vary depending on the industry you've chosen, the clients you are trying to target, and your own personal capabilities and preferences. If you are a newer entrepreneur, depending on your level of experience and comfort with marketing, you might consider looking for help with establishing your brand and pinning down your strategy.
Figure Out Your Infrastructure
Once you've got a clear picture of your business and marketing strategy, it's time to take a slightly more introspective approach and decide what you want to accomplish and what your workflow will look like. Remember that even if you are a freelance entrepreneur, you are still running a business, and every business needs structure. Start by setting some preliminary goals for yourself, such as the amount of money you'd like to make in your first year, or the number of clients you'd like to have. Having a metric to work toward will help you keep yourself accountable and determine your strategy as you grow your business.
It's also crucial that you understand how you work best and what tools you'll need to obtain. Do you intend to work from home, or would you be better off in an office or co-working space? Will you utilize an invoicing service or task management software? Would you benefit from hiring an assistant or other support staff? Figuring out the system, equipment, and environment that allow you to work efficiently and happily will go a long way in setting yourself up for success.
Mentors can be an extremely valuable resource in determining your infrastructure. Finding an experienced mentor in your field can save you a lot of time, money, and trial-and-error.
Balance Growth and Maintenance
In starting off as an entrepreneur, it's tempting to focus all of your energy on expanding your business and acquiring more clients. However, it's just as important that you intentionally maintain the relationships that you have with existing clients as it is to pursue new ones. Cultivating a good rapport with existing clients will make them more inclined to hire you again, and will also increase the likelihood that they'll tell their contacts about you (hello, free word-of-mouth marketing!).
Conversely, while it may be tempting to stick with your habits once you've found a system that works for you, you'll want to make sure that you're keeping a pulse on trends in your industry, including new opportunities and emerging niches. In an evolving field like consulting, those who aren't willing to be flexible and adapt are in danger of being left behind. Reading articles from industry-specific publications and blogs from established figures in your field are a great way to stay informed and learn new tips and techniques.
If getting started as a consultant seems daunting, it doesn't have to be. Sky's the Limit is a nonprofit organization that is committed to helping members of underrepresented communities succeed. We provide invaluable resources for entrepreneurs, including Economic Capital in the form of business funding and Social Capital via one-on-one mentors who can steer entrepreneurs through the difficulties of starting a business. If you are an entrepreneur looking for capital or other resources, sign-up today to join the Sky’s the Limit community!
What can help you be 5X more successful?
Working with a mentor can make you five times more likely to succeed! Entrepreneurs, working with a mentor can help you get started and help you grow. They have experience in business and can help connect you with information and contacts and avoid obstacles. Best of all, a mentor believes in you and your dream and will listen to any ideas or concerns you have.
