How to start a consulting business:
what is, types (classification), reasons for the popularity of services, the
list of requirements for company, how to become a consultant How to Start a
Consulting Business Consulting embraces rather a broad array of issues.
Different companies may consult for various industries, starting with
narrow-focused specializations, including one business direction only
(auditing, for example), and ending with the widest one, covering the whole
range of industry services. Acting the same way with industry, each specialist
(or a company), related to this business, chooses his own direction of
consulting, a particular field of working and adds featured notes to the
service.
What is Consulting?
Let’s try to
squeeze a broad meaning of consulting into a certain definition. So, business
consulting is a form of outside activity with mission statement including analyzing
a customer’s issue and applying forecasting methods for area of expertise,
using scientific, technological, organizational, and economical innovations.
Consulting answers the question arising during activities related to
management, economics, finances, investment, strategy planning, organizational
structure optimization, business running, market outlet’s research and
economical forecast, price fluctuation, etc. In other words, consulting means
all types of support provided by outside consultants aimed at solving different
issues. The main goal of consulting is to improve management skills, increase
the whole company’s efficiency and each employee’s productivity.
Types
The
possibility to provide consulting services in all fields and by all specialists
caused a multitude of consulting companies establishment. Current top-rated
consultancies give advice in the following industries: Analyzing activity
(analyses and assurance services of the customer’s company, investment projects
analyses, developing a detailed picture of competitors’ activity, market
outlets and price fluctuation researches); Forecasting (conducting a forecast
on the above mentioned directions on the base of research and techniques used by
a consultant); Consulting a broad array of issues, related to the customer’s
enterprise and a market in general; Auditing the customer’s enterprise; Taking
part in the customer company’s life (strategy planning, solving a bunch of
issues concerning the company management in different spheres of its activity,
development and implementing informational systems, system integration, etc.).
Now let’s revise the major directions of consulting business. Things here are
not as easy as they seem. The thing is that consulting companies give different
classification to consulting business on the basis of their own experience and
the special nature of services rendered. Let’s call upon the Big Four, as the
most reputable and highly experienced companies in the industry, in order to
reveal the main direction of consulting. We will try than to give our own
classification of the most popular and highly paid consulting services on the
basis of these companies service lists.
What is Consulting?
Let’s try to squeeze a broad meaning of consulting into a certain
definition.
So, business consulting is a form of outside activity with mission
statement including analyzing a customer’s issue and applying
forecasting methods for area of expertise, using scientific,
technological, organizational, and economical innovations.
Consulting answers the question arising during activities related to
management, economics, finances, investment, strategy planning,
organizational structure optimization, business running, market outlet’s
research and economical forecast, price fluctuation, etc. In other
words, consulting means all types of support provided by outside
consultants aimed at solving different issues.
The main goal of consulting is to improve management skills, increase
the whole company’s efficiency and each employee’s productivity.
Types
The possibility to provide consulting services in all fields and by all
specialists caused a multitude of consulting companies establishment.
Current top-rated consultancies give advice in the following industries:
Analyzing activity (analyses and assurance services of the
customer’s company, investment projects analyses, developing a detailed
picture of competitors’ activity, market outlets and price fluctuation
researches);
Forecasting (conducting a forecast on the abovementioned directions
on the base of research and techniques used by a consultant);
Consulting a broad array of issues, related to the customer’s
enterprise and a market in general;
Auditing the customer’s enterprise;
Taking part in the customer company’s life (strategy planning,
solving a bunch of issues concerning the company management in different
spheres of its activity, development and implementing informational
systems, system integration, etc.).
Now let’s revise the major directions of consulting business. Things
here are not as easy as they seem.
The thing is that consulting companies give different classification to
consulting business on the basis of their own experience and the special
nature of services rendered. Let’s call upon the Big Four, as the most
reputable and highly experienced companies in the industry, in order to
reveal the main direction of consulting. We will try than to give our
own classification of the most popular and highly paid consulting
services on the basis of these companies service lists.
Source: https://www.mybusiness.org/consulting
Source: https://www.mybusiness.org/consulting
What is Consulting?
Let’s try to squeeze a broad meaning of consulting into a certain
definition.
So, business consulting is a form of outside activity with mission
statement including analyzing a customer’s issue and applying
forecasting methods for area of expertise, using scientific,
technological, organizational, and economical innovations.
Consulting answers the question arising during activities related to
management, economics, finances, investment, strategy planning,
organizational structure optimization, business running, market outlet’s
research and economical forecast, price fluctuation, etc. In other
words, consulting means all types of support provided by outside
consultants aimed at solving different issues.
The main goal of consulting is to improve management skills, increase
the whole company’s efficiency and each employee’s productivity.
Types
The possibility to provide consulting services in all fields and by all
specialists caused a multitude of consulting companies establishment.
Current top-rated consultancies give advice in the following industries:
Analyzing activity (analyses and assurance services of the
customer’s company, investment projects analyses, developing a detailed
picture of competitors’ activity, market outlets and price fluctuation
researches);
Forecasting (conducting a forecast on the abovementioned directions
on the base of research and techniques used by a consultant);
Consulting a broad array of issues, related to the customer’s
enterprise and a market in general;
Auditing the customer’s enterprise;
Taking part in the customer company’s life (strategy planning,
solving a bunch of issues concerning the company management in different
spheres of its activity, development and implementing informational
systems, system integration, etc.).
Now let’s revise the major directions of consulting business. Things
here are not as easy as they seem.
The thing is that consulting companies give different classification to
consulting business on the basis of their own experience and the special
nature of services rendered. Let’s call upon the Big Four, as the most
reputable and highly experienced companies in the industry, in order to
reveal the main direction of consulting. We will try than to give our
own classification of the most popular and highly paid consulting
services on the basis of these companies service lists.
Source: https://www.mybusiness.org/consulting
Source: https://www.mybusiness.org/consulting
How to start a
consulting business: what is, types (classification), reasons for the
popularity of services, the list of requirements for company, how to
become a consultant
How to Start a Consulting Business
Consulting embraces rather a broad array of issues. Different companies
may consult for various industries, starting with narrow-focused
specializations, including one business direction only (auditing, for
example), and ending with the widest one, covering the whole range of
industry services. Acting the same way with industry, each specialist
(or a company), related to this business, chooses his own direction of
consulting, a particular field of working and adds featured notes to the
service.
Source: https://www.mybusiness.org/consulting
Source: https://www.mybusiness.org/consulting
How to start a
consulting business: what is, types (classification), reasons for the
popularity of services, the list of requirements for company, how to
become a consultant
How to Start a Consulting Business
Consulting embraces rather a broad array of issues. Different companies
may consult for various industries, starting with narrow-focused
specializations, including one business direction only (auditing, for
example), and ending with the widest one, covering the whole range of
industry services. Acting the same way with industry, each specialist
(or a company), related to this business, chooses his own direction of
consulting, a particular field of working and adds featured notes to the
service.
Source: https://www.mybusiness.org/consulting
Source: https://www.mybusiness.org/consulting
How to Start a
Consulting Business
How to start a consulting business: what is, types (classification),
reasons for the popularity of services, the list of requirements for
company, how to become a consultant
How to Start a Consulting Business
Consulting embraces rather a broad array of issues. Different companies
may consult for various industries, starting with narrow-focused
specializations, including one business direction only (auditing, for
example), and ending with the widest one, covering the whole range of
industry services. Acting the same way with industry, each specialist
(or a company), related to this business, chooses his own direction of
consulting, a particular field of working and adds featured notes to the
service.
Source: https://www.mybusiness.org/consulting
Source: https://www.mybusiness.org/consulting
How to Start a
Consulting Business
How to start a consulting business: what is, types (classification),
reasons for the popularity of services, the list of requirements for
company, how to become a consultant
How to Start a Consulting Business
Consulting embraces rather a broad array of issues. Different companies
may consult for various industries, starting with narrow-focused
specializations, including one business direction only (auditing, for
example), and ending with the widest one, covering the whole range of
industry services. Acting the same way with industry, each specialist
(or a company), related to this business, chooses his own direction of
consulting, a particular field of working and adds featured notes to the
service.
Source: https://www.mybusiness.org/consulting
Source: https://www.mybusiness.org/consulting
How to Become a
Consultant
Identify the Niche in Which You Have Knowledge and Experience. You
may have an interest in computers. However, this does not mean you can
become an independent computer consultant (though it can give you a
head-start in this field). Knowledge and experience coupled with
interest is the only way to begin.
Acquire the Certifications and Licenses. The local or state legal
guidelines may require you to get a particular license to work as an
independent consultant in certain specialties.
Choose a name. If you want to set up a company, give it a
good-sounding name, which will be easy to remember and sticky.
Choose your legal structure. Do all the necessary legal and tax
procedures on the initial stage of operation. You may choose between
three registration options that may match your business: general or
limited partnership, corporation or sole proprietorship. The majority of
consultants prefer the last form most of all due to the complexity of
other forms registration. Besides, you must be cautious for all
liabilities involved to your business become personal liability.
Make a business plan. It is very important in consulting business.
No matter it won’t be shown to attract investments, it plays a great
role in forming a strategy in your mind for keeping a company on track,
making larger profits, marketing, gaining a reputation among customers,
setting up your business structure, generating and controlling your
funds. You can make your business plan on the basis of different books
and software related to the consulting market.
Establish an office. If you have screened all your pockets for
gaining an additional cent to start your business, you can work from
home. This will also suit the situation if you intend to render services
on part-time basis. You can occupy a spare room, a loft, a garage or
even a small corner in a hall converted into commercial location.
Build a website. All up-to-date companies must have their own
website! Internet is a large source of potential customers, who can land
on your site via Google or any advertising system.
Start marketing yourself. Free consulting on the initial stage of
operation may encourage people recommending you to the friends. Some
time later, you may take money for your job. This strategy perfectly
matches online service rendering because there are millions of people
searching for an assistance in this or that question. Use forums and
groups in social nets.
Fee Rates
There are two payment options for your work:
Hourly rates. In some cases per minute charging is all right. The
thing is that, you can give an extremely useful information that will
help to improve the business in some industries within a minute. SEO
consulting can be taken as an example.
Pay-per-project. In this case consultant is paid the certain amount
that was discussed in advance.
AddThis Sharing Buttons
Share to FacebookShare to LinkedInShare to TwitterShare to Google+Share
to E-mailShare to Еще...
Related posts
Starting an Event Planning Business
Starting a Cleaning Business
Starting a Catering Business
Starting a Trucking Company
Starting a Blog
Business Ideas
Tags: Home Business, Service industry
How to Make Money on Youtube
How to Start an Event Planning BusinessEvent Planning Business
1
Leave a Reply
avatar
1
0
0
1
Audrey Kinley
newest
oldest
most voted
Audrey Kinley
Guest
Audrey Kinley
Wow, I never knew that there was so much involved with consulting. It
seems like it’d be a pretty tough job to have. If not, the people there
are really good at their job.
0 Reply
2 years ago
Business Industries
Fashion
Food & Beverage
Home Business
Manufacturing
Online Business
Restaurants & Bars
Service industry
Trade & Commerce
Vehicle
Women Business
Search for:
Recent Comments
Monica on Starting a BlogVery good article! We are linking to this
great po…
Audrey Kinley on Starting a Consulting BusinessWow, I never knew
that there was so much involved…
Luke Smith on Starting a Clothing LineI see a lot of good clothing
lines that are more f…
Source: https://www.mybusiness.org/consulting
Source: https://www.mybusiness.org/consulting
How to Become a
Consultant
Identify the Niche in Which You Have Knowledge and Experience. You
may have an interest in computers. However, this does not mean you can
become an independent computer consultant (though it can give you a
head-start in this field). Knowledge and experience coupled with
interest is the only way to begin.
Acquire the Certifications and Licenses. The local or state legal
guidelines may require you to get a particular license to work as an
independent consultant in certain specialties.
Choose a name. If you want to set up a company, give it a
good-sounding name, which will be easy to remember and sticky.
Choose your legal structure. Do all the necessary legal and tax
procedures on the initial stage of operation. You may choose between
three registration options that may match your business: general or
limited partnership, corporation or sole proprietorship. The majority of
consultants prefer the last form most of all due to the complexity of
other forms registration. Besides, you must be cautious for all
liabilities involved to your business become personal liability.
Make a business plan. It is very important in consulting business.
No matter it won’t be shown to attract investments, it plays a great
role in forming a strategy in your mind for keeping a company on track,
making larger profits, marketing, gaining a reputation among customers,
setting up your business structure, generating and controlling your
funds. You can make your business plan on the basis of different books
and software related to the consulting market.
Establish an office. If you have screened all your pockets for
gaining an additional cent to start your business, you can work from
home. This will also suit the situation if you intend to render services
on part-time basis. You can occupy a spare room, a loft, a garage or
even a small corner in a hall converted into commercial location.
Build a website. All up-to-date companies must have their own
website! Internet is a large source of potential customers, who can land
on your site via Google or any advertising system.
Start marketing yourself. Free consulting on the initial stage of
operation may encourage people recommending you to the friends. Some
time later, you may take money for your job. This strategy perfectly
matches online service rendering because there are millions of people
searching for an assistance in this or that question. Use forums and
groups in social nets.
Fee Rates
There are two payment options for your work:
Hourly rates. In some cases per minute charging is all right. The
thing is that, you can give an extremely useful information that will
help to improve the business in some industries within a minute. SEO
consulting can be taken as an example.
Pay-per-project. In this case consultant is paid the certain amount
that was discussed in advance.
AddThis Sharing Buttons
Share to FacebookShare to LinkedInShare to TwitterShare to Google+Share
to E-mailShare to Еще...
Related posts
Starting an Event Planning Business
Starting a Cleaning Business
Starting a Catering Business
Starting a Trucking Company
Starting a Blog
Business Ideas
Tags: Home Business, Service industry
How to Make Money on Youtube
How to Start an Event Planning BusinessEvent Planning Business
1
Leave a Reply
avatar
1
0
0
1
Audrey Kinley
newest
oldest
most voted
Audrey Kinley
Guest
Audrey Kinley
Wow, I never knew that there was so much involved with consulting. It
seems like it’d be a pretty tough job to have. If not, the people there
are really good at their job.
0 Reply
2 years ago
Business Industries
Fashion
Food & Beverage
Home Business
Manufacturing
Online Business
Restaurants & Bars
Service industry
Trade & Commerce
Vehicle
Women Business
Search for:
Recent Comments
Monica on Starting a BlogVery good article! We are linking to this
great po…
Audrey Kinley on Starting a Consulting BusinessWow, I never knew
that there was so much involved…
Luke Smith on Starting a Clothing LineI see a lot of good clothing
lines that are more f…
Source: https://www.mybusiness.org/consulting
Source: https://www.mybusiness.org/consulting
How to start a
consulting business: what is, types (classification), reasons for the
popularity of services, the list of requirements for company, how to
become a consultant
How to Start a Consulting Business
Consulting embraces rather a broad array of issues. Different companies
may consult for various industries, starting with narrow-focused
specializations, including one business direction only (auditing, for
example), and ending with the widest one, covering the whole range of
industry services. Acting the same way with industry, each specialist
(or a company), related to this business, chooses his own direction of
consulting, a particular field of working and adds featured notes to the
service.
Contents [show]
What is Consulting?
Let’s try to squeeze a broad meaning of consulting into a certain
definition.
So, business consulting is a form of outside activity with mission
statement including analyzing a customer’s issue and applying
forecasting methods for area of expertise, using scientific,
technological, organizational, and economical innovations.
Consulting answers the question arising during activities related to
management, economics, finances, investment, strategy planning,
organizational structure optimization, business running, market outlet’s
research and economical forecast, price fluctuation, etc. In other
words, consulting means all types of support provided by outside
consultants aimed at solving different issues.
The main goal of consulting is to improve management skills, increase
the whole company’s efficiency and each employee’s productivity.
Types
The possibility to provide consulting services in all fields and by all
specialists caused a multitude of consulting companies establishment.
Current top-rated consultancies give advice in the following industries:
Analyzing activity (analyses and assurance services of the
customer’s company, investment projects analyses, developing a detailed
picture of competitors’ activity, market outlets and price fluctuation
researches);
Forecasting (conducting a forecast on the abovementioned directions
on the base of research and techniques used by a consultant);
Consulting a broad array of issues, related to the customer’s
enterprise and a market in general;
Auditing the customer’s enterprise;
Taking part in the customer company’s life (strategy planning,
solving a bunch of issues concerning the company management in different
spheres of its activity, development and implementing informational
systems, system integration, etc.).
Now let’s revise the major directions of consulting business. Things
here are not as easy as they seem.
The thing is that consulting companies give different classification to
consulting business on the basis of their own experience and the special
nature of services rendered. Let’s call upon the Big Four, as the most
reputable and highly experienced companies in the industry, in order to
reveal the main direction of consulting. We will try than to give our
own classification of the most popular and highly paid consulting
services on the basis of these companies service lists.
The services provided by the Big Four
KMPG Deloitte Touche Tohmatsu PricewaterhouseCoopers Accenture
Auditing and accounting services
Tax and legal advice
Valuation property
Property privatization
Business transformation and strategy planning
Management
Mergers, acquisitions and
joint venture establishing
Market research and new developments
Assurance services
Technology consulting
State of the market liquidity reviews
Actuarial services across all kinds of insurance
Accounting advisory
Tax and legal advice
Management
Human resource management
Healthcare and life science
Insurance
Mergers and acquisitions
SAP services
Retail and consumer
Government and public sector
Legal arguments
Business transformation
Real estate
Business strategy planning
Technology consulting
Auditing and accounting services
Financial services
Management
Tax and legal advice
Technology consulting
Business recovery services and solving problems related to insolvency
Insurance
Financial services
Strategy planning
Communications
Technology consulting
Government and public services
Energy and utilities
Healthcare
Business transformation
Services to improve business results
Technologies
Running business
So, here is our own classification of consulting business:
Accounting;
Advertising;
Auditing;
Business;
Business writing;
Career counseling;
Communications;
Computer consulting;
Editorial services;
Executive search/headhunter firms;
Gardening;
Grantsmanship;
Human resources;
Insurance;
Marketing;
Payroll Management;
Public relations;
Publishing;
Taxes;
Writing services.
In What Cases Customers Apply to Consulting Company?
It is widely thought, that companies apply to outside consultants on the
edge of bankruptcy only. However, rendering recovering services to an
insolvent company is not the main function of a consulting team. So, in
what cases and who applies to consulting company to get a needed
support?
At first, reputable companies need consulting services during structure
transformation concerned with expanding, business legal form amendment,
fundamental changing of enterprise activity and its diversion into more
perspective and/or profitable business directions.
At second, consultant (or auditor) may be hired by a prospering
enterprise that needs to win additional market shares, create a
reputable image for potential partners, to examine the company’s
activities (to audit, for instance) and than to turn the results into
public information.
And finally, the enterprise may apply to consulting company to get a
support in a critical period (on the edge of bankruptcy), in case it is
not able to cope the situation by its own means due to the lack of
experience and inner resources that can’t react in a proper manner and
on time. In such cases, the consulting services may be referred to
in-crisis consulting.
The List of Requirements for Company
A professional consultant or a reputable consulting company’s activity,
rendering a broad array of services, must meet the number of certain
requirements. The major ones are enumerated as follows:
A consultant (or a consulting company) must have a proven technique
of solving issues and skills needed to formulate an accurate
organizational diagnosis, to conduct effective strategy planning, to use
informational systems; consultant must operate freely the methods of
analyzing and forecasting an economical condition of the company,
diagnose its general productive efficiency, establish contacts
(communicate), and so on.
A consultant (or a consulting company) must have an opinion
independent from products suppliers, standard decision in featured
industry, traditions, unwritten laws that live within the checked
company, incumbent managers strategy. The consultant opinion must be
maximally close to truth and fair.
A consulting company must not be somehow related to the customer.
A consultant (or a consulting company) must provide a customer with a
support in using his own experience to improve his or her activity on a
constant basis.
A consultant (or a consulting company) must work with various
customers to accumulate new experience, analyze it, understand and use
in future.
A consultant (or a consulting company) must know the teaching
techniques that can be applied for customers.
How to Become a Consultant
Identify the Niche in Which You Have Knowledge and Experience. You
may have an interest in computers. However, this does not mean you can
become an independent computer consultant (though it can give you a
head-start in this field). Knowledge and experience coupled with
interest is the only way to begin.
Acquire the Certifications and Licenses. The local or state legal
guidelines may require you to get a particular license to work as an
independent consultant in certain specialties.
Choose a name. If you want to set up a company, give it a
good-sounding name, which will be easy to remember and sticky.
Choose your legal structure. Do all the necessary legal and tax
procedures on the initial stage of operation. You may choose between
three registration options that may match your business: general or
limited partnership, corporation or sole proprietorship. The majority of
consultants prefer the last form most of all due to the complexity of
other forms registration. Besides, you must be cautious for all
liabilities involved to your business become personal liability.
Make a business plan. It is very important in consulting business.
No matter it won’t be shown to attract investments, it plays a great
role in forming a strategy in your mind for keeping a company on track,
making larger profits, marketing, gaining a reputation among customers,
setting up your business structure, generating and controlling your
funds. You can make your business plan on the basis of different books
and software related to the consulting market.
Establish an office. If you have screened all your pockets for
gaining an additional cent to start your business, you can work from
home. This will also suit the situation if you intend to render services
on part-time basis. You can occupy a spare room, a loft, a garage or
even a small corner in a hall converted into commercial location.
Build a website. All up-to-date companies must have their own
website! Internet is a large source of potential customers, who can land
on your site via Google or any advertising system.
Start marketing yourself. Free consulting on the initial stage of
operation may encourage people recommending you to the friends. Some
time later, you may take money for your job. This strategy perfectly
matches online service rendering because there are millions of people
searching for an assistance in this or that question. Use forums and
groups in social nets.
Fee Rates
There are two payment options for your work:
Hourly rates. In some cases per minute charging is all right. The
thing is that, you can give an extremely useful information that will
help to improve the business in some industries within a minute. SEO
consulting can be taken as an example.
Pay-per-project. In this case consultant is paid the certain amount
that was discussed in advance.
Source: https://www.mybusiness.org/consulting
Source: https://www.mybusiness.org/consulting
How to start a
consulting business: what is, types (classification), reasons for the
popularity of services, the list of requirements for company, how to
become a consultant
How to Start a Consulting Business
Consulting embraces rather a broad array of issues. Different companies
may consult for various industries, starting with narrow-focused
specializations, including one business direction only (auditing, for
example), and ending with the widest one, covering the whole range of
industry services. Acting the same way with industry, each specialist
(or a company), related to this business, chooses his own direction of
consulting, a particular field of working and adds featured notes to the
service.
Contents [hide]
What is Consulting?
Types
In What Cases Customers Apply to Consulting Company?
The List of Requirements for Company
How to Become a Consultant
Fee Rates
What is Consulting?
Let’s try to squeeze a broad meaning of consulting into a certain
definition.
So, business consulting is a form of outside activity with mission
statement including analyzing a customer’s issue and applying
forecasting methods for area of expertise, using scientific,
technological, organizational, and economical innovations.
Consulting answers the question arising during activities related to
management, economics, finances, investment, strategy planning,
organizational structure optimization, business running, market outlet’s
research and economical forecast, price fluctuation, etc. In other
words, consulting means all types of support provided by outside
consultants aimed at solving different issues.
The main goal of consulting is to improve management skills, increase
the whole company’s efficiency and each employee’s productivity.
Types
The possibility to provide consulting services in all fields and by all
specialists caused a multitude of consulting companies establishment.
Current top-rated consultancies give advice in the following industries:
Analyzing activity (analyses and assurance services of the
customer’s company, investment projects analyses, developing a detailed
picture of competitors’ activity, market outlets and price fluctuation
researches);
Forecasting (conducting a forecast on the abovementioned directions
on the base of research and techniques used by a consultant);
Consulting a broad array of issues, related to the customer’s
enterprise and a market in general;
Auditing the customer’s enterprise;
Taking part in the customer company’s life (strategy planning,
solving a bunch of issues concerning the company management in different
spheres of its activity, development and implementing informational
systems, system integration, etc.).
Now let’s revise the major directions of consulting business. Things
here are not as easy as they seem.
The thing is that consulting companies give different classification to
consulting business on the basis of their own experience and the special
nature of services rendered. Let’s call upon the Big Four, as the most
reputable and highly experienced companies in the industry, in order to
reveal the main direction of consulting. We will try than to give our
own classification of the most popular and highly paid consulting
services on the basis of these companies service lists.
The services provided by the Big Four
KMPG Deloitte Touche Tohmatsu PricewaterhouseCoopers Accenture
Auditing and accounting services
Tax and legal advice
Valuation property
Property privatization
Business transformation and strategy planning
Management
Mergers, acquisitions and
joint venture establishing
Market research and new developments
Assurance services
Technology consulting
State of the market liquidity reviews
Actuarial services across all kinds of insurance
Accounting advisory
Tax and legal advice
Management
Human resource management
Healthcare and life science
Insurance
Mergers and acquisitions
SAP services
Retail and consumer
Government and public sector
Legal arguments
Business transformation
Real estate
Business strategy planning
Technology consulting
Auditing and accounting services
Financial services
Management
Tax and legal advice
Technology consulting
Business recovery services and solving problems related to insolvency
Insurance
Financial services
Strategy planning
Communications
Technology consulting
Government and public services
Energy and utilities
Healthcare
Business transformation
Services to improve business results
Technologies
Running business
So, here is our own classification of consulting business:
Accounting;
Advertising;
Auditing;
Business;
Business writing;
Career counseling;
Communications;
Computer consulting;
Editorial services;
Executive search/headhunter firms;
Gardening;
Grantsmanship;
Human resources;
Insurance;
Marketing;
Payroll Management;
Public relations;
Publishing;
Taxes;
Writing services.
In What Cases Customers Apply to Consulting Company?
It is widely thought, that companies apply to outside consultants on the
edge of bankruptcy only. However, rendering recovering services to an
insolvent company is not the main function of a consulting team. So, in
what cases and who applies to consulting company to get a needed
support?
At first, reputable companies need consulting services during structure
transformation concerned with expanding, business legal form amendment,
fundamental changing of enterprise activity and its diversion into more
perspective and/or profitable business directions.
At second, consultant (or auditor) may be hired by a prospering
enterprise that needs to win additional market shares, create a
reputable image for potential partners, to examine the company’s
activities (to audit, for instance) and than to turn the results into
public information.
And finally, the enterprise may apply to consulting company to get a
support in a critical period (on the edge of bankruptcy), in case it is
not able to cope the situation by its own means due to the lack of
experience and inner resources that can’t react in a proper manner and
on time. In such cases, the consulting services may be referred to
in-crisis consulting.
The List of Requirements for Company
A professional consultant or a reputable consulting company’s activity,
rendering a broad array of services, must meet the number of certain
requirements. The major ones are enumerated as follows:
A consultant (or a consulting company) must have a proven technique
of solving issues and skills needed to formulate an accurate
organizational diagnosis, to conduct effective strategy planning, to use
informational systems; consultant must operate freely the methods of
analyzing and forecasting an economical condition of the company,
diagnose its general productive efficiency, establish contacts
(communicate), and so on.
A consultant (or a consulting company) must have an opinion
independent from products suppliers, standard decision in featured
industry, traditions, unwritten laws that live within the checked
company, incumbent managers strategy. The consultant opinion must be
maximally close to truth and fair.
A consulting company must not be somehow related to the customer.
A consultant (or a consulting company) must provide a customer with a
support in using his own experience to improve his or her activity on a
constant basis.
A consultant (or a consulting company) must work with various
customers to accumulate new experience, analyze it, understand and use
in future.
A consultant (or a consulting company) must know the teaching
techniques that can be applied for customers.
How to Become a Consultant
Identify the Niche in Which You Have Knowledge and Experience. You
may have an interest in computers. However, this does not mean you can
become an independent computer consultant (though it can give you a
head-start in this field). Knowledge and experience coupled with
interest is the only way to begin.
Acquire the Certifications and Licenses. The local or state legal
guidelines may require you to get a particular license to work as an
independent consultant in certain specialties.
Choose a name. If you want to set up a company, give it a
good-sounding name, which will be easy to remember and sticky.
Choose your legal structure. Do all the necessary legal and tax
procedures on the initial stage of operation. You may choose between
three registration options that may match your business: general or
limited partnership, corporation or sole proprietorship. The majority of
consultants prefer the last form most of all due to the complexity of
other forms registration. Besides, you must be cautious for all
liabilities involved to your business become personal liability.
Make a business plan. It is very important in consulting business.
No matter it won’t be shown to attract investments, it plays a great
role in forming a strategy in your mind for keeping a company on track,
making larger profits, marketing, gaining a reputation among customers,
setting up your business structure, generating and controlling your
funds. You can make your business plan on the basis of different books
and software related to the consulting market.
Establish an office. If you have screened all your pockets for
gaining an additional cent to start your business, you can work from
home. This will also suit the situation if you intend to render services
on part-time basis. You can occupy a spare room, a loft, a garage or
even a small corner in a hall converted into commercial location.
Build a website. All up-to-date companies must have their own
website! Internet is a large source of potential customers, who can land
on your site via Google or any advertising system.
Start marketing yourself. Free consulting on the initial stage of
operation may encourage people recommending you to the friends. Some
time later, you may take money for your job. This strategy perfectly
matches online service rendering because there are millions of people
searching for an assistance in this or that question. Use forums and
groups in social nets.
Fee Rates
There are two payment options for your work:
Hourly rates. In some cases per minute charging is all right. The
thing is that, you can give an extremely useful information that will
help to improve the business in some industries within a minute. SEO
consulting can be taken as an example.
Pay-per-project. In this case consultant is paid the certain amount
that was discussed in advance.
Source: https://www.mybusiness.org/consulting
Source: https://www.mybusiness.org/consulting
How to start a
consulting business: what is, types (classification), reasons for the
popularity of services, the list of requirements for company, how to
become a consultant
How to Start a Consulting Business
Consulting embraces rather a broad array of issues. Different companies
may consult for various industries, starting with narrow-focused
specializations, including one business direction only (auditing, for
example), and ending with the widest one, covering the whole range of
industry services. Acting the same way with industry, each specialist
(or a company), related to this business, chooses his own direction of
consulting, a particular field of working and adds featured notes to the
service.
Contents [hide]
What is Consulting?
Types
In What Cases Customers Apply to Consulting Company?
The List of Requirements for Company
How to Become a Consultant
Fee Rates
What is Consulting?
Let’s try to squeeze a broad meaning of consulting into a certain
definition.
So, business consulting is a form of outside activity with mission
statement including analyzing a customer’s issue and applying
forecasting methods for area of expertise, using scientific,
technological, organizational, and economical innovations.
Consulting answers the question arising during activities related to
management, economics, finances, investment, strategy planning,
organizational structure optimization, business running, market outlet’s
research and economical forecast, price fluctuation, etc. In other
words, consulting means all types of support provided by outside
consultants aimed at solving different issues.
The main goal of consulting is to improve management skills, increase
the whole company’s efficiency and each employee’s productivity.
Types
The possibility to provide consulting services in all fields and by all
specialists caused a multitude of consulting companies establishment.
Current top-rated consultancies give advice in the following industries:
Analyzing activity (analyses and assurance services of the
customer’s company, investment projects analyses, developing a detailed
picture of competitors’ activity, market outlets and price fluctuation
researches);
Forecasting (conducting a forecast on the abovementioned directions
on the base of research and techniques used by a consultant);
Consulting a broad array of issues, related to the customer’s
enterprise and a market in general;
Auditing the customer’s enterprise;
Taking part in the customer company’s life (strategy planning,
solving a bunch of issues concerning the company management in different
spheres of its activity, development and implementing informational
systems, system integration, etc.).
Now let’s revise the major directions of consulting business. Things
here are not as easy as they seem.
The thing is that consulting companies give different classification to
consulting business on the basis of their own experience and the special
nature of services rendered. Let’s call upon the Big Four, as the most
reputable and highly experienced companies in the industry, in order to
reveal the main direction of consulting. We will try than to give our
own classification of the most popular and highly paid consulting
services on the basis of these companies service lists.
The services provided by the Big Four
KMPG Deloitte Touche Tohmatsu PricewaterhouseCoopers Accenture
Auditing and accounting services
Tax and legal advice
Valuation property
Property privatization
Business transformation and strategy planning
Management
Mergers, acquisitions and
joint venture establishing
Market research and new developments
Assurance services
Technology consulting
State of the market liquidity reviews
Actuarial services across all kinds of insurance
Accounting advisory
Tax and legal advice
Management
Human resource management
Healthcare and life science
Insurance
Mergers and acquisitions
SAP services
Retail and consumer
Government and public sector
Legal arguments
Business transformation
Real estate
Business strategy planning
Technology consulting
Auditing and accounting services
Financial services
Management
Tax and legal advice
Technology consulting
Business recovery services and solving problems related to insolvency
Insurance
Financial services
Strategy planning
Communications
Technology consulting
Government and public services
Energy and utilities
Healthcare
Business transformation
Services to improve business results
Technologies
Running business
So, here is our own classification of consulting business:
Accounting;
Advertising;
Auditing;
Business;
Business writing;
Career counseling;
Communications;
Computer consulting;
Editorial services;
Executive search/headhunter firms;
Gardening;
Grantsmanship;
Human resources;
Insurance;
Marketing;
Payroll Management;
Public relations;
Publishing;
Taxes;
Writing services.
In What Cases Customers Apply to Consulting Company?
It is widely thought, that companies apply to outside consultants on the
edge of bankruptcy only. However, rendering recovering services to an
insolvent company is not the main function of a consulting team. So, in
what cases and who applies to consulting company to get a needed
support?
At first, reputable companies need consulting services during structure
transformation concerned with expanding, business legal form amendment,
fundamental changing of enterprise activity and its diversion into more
perspective and/or profitable business directions.
At second, consultant (or auditor) may be hired by a prospering
enterprise that needs to win additional market shares, create a
reputable image for potential partners, to examine the company’s
activities (to audit, for instance) and than to turn the results into
public information.
And finally, the enterprise may apply to consulting company to get a
support in a critical period (on the edge of bankruptcy), in case it is
not able to cope the situation by its own means due to the lack of
experience and inner resources that can’t react in a proper manner and
on time. In such cases, the consulting services may be referred to
in-crisis consulting.
The List of Requirements for Company
A professional consultant or a reputable consulting company’s activity,
rendering a broad array of services, must meet the number of certain
requirements. The major ones are enumerated as follows:
A consultant (or a consulting company) must have a proven technique
of solving issues and skills needed to formulate an accurate
organizational diagnosis, to conduct effective strategy planning, to use
informational systems; consultant must operate freely the methods of
analyzing and forecasting an economical condition of the company,
diagnose its general productive efficiency, establish contacts
(communicate), and so on.
A consultant (or a consulting company) must have an opinion
independent from products suppliers, standard decision in featured
industry, traditions, unwritten laws that live within the checked
company, incumbent managers strategy. The consultant opinion must be
maximally close to truth and fair.
A consulting company must not be somehow related to the customer.
A consultant (or a consulting company) must provide a customer with a
support in using his own experience to improve his or her activity on a
constant basis.
A consultant (or a consulting company) must work with various
customers to accumulate new experience, analyze it, understand and use
in future.
A consultant (or a consulting company) must know the teaching
techniques that can be applied for customers.
How to Become a Consultant
Identify the Niche in Which You Have Knowledge and Experience. You
may have an interest in computers. However, this does not mean you can
become an independent computer consultant (though it can give you a
head-start in this field). Knowledge and experience coupled with
interest is the only way to begin.
Acquire the Certifications and Licenses. The local or state legal
guidelines may require you to get a particular license to work as an
independent consultant in certain specialties.
Choose a name. If you want to set up a company, give it a
good-sounding name, which will be easy to remember and sticky.
Choose your legal structure. Do all the necessary legal and tax
procedures on the initial stage of operation. You may choose between
three registration options that may match your business: general or
limited partnership, corporation or sole proprietorship. The majority of
consultants prefer the last form most of all due to the complexity of
other forms registration. Besides, you must be cautious for all
liabilities involved to your business become personal liability.
Make a business plan. It is very important in consulting business.
No matter it won’t be shown to attract investments, it plays a great
role in forming a strategy in your mind for keeping a company on track,
making larger profits, marketing, gaining a reputation among customers,
setting up your business structure, generating and controlling your
funds. You can make your business plan on the basis of different books
and software related to the consulting market.
Establish an office. If you have screened all your pockets for
gaining an additional cent to start your business, you can work from
home. This will also suit the situation if you intend to render services
on part-time basis. You can occupy a spare room, a loft, a garage or
even a small corner in a hall converted into commercial location.
Build a website. All up-to-date companies must have their own
website! Internet is a large source of potential customers, who can land
on your site via Google or any advertising system.
Start marketing yourself. Free consulting on the initial stage of
operation may encourage people recommending you to the friends. Some
time later, you may take money for your job. This strategy perfectly
matches online service rendering because there are millions of people
searching for an assistance in this or that question. Use forums and
groups in social nets.
Fee Rates
There are two payment options for your work:
Hourly rates. In some cases per minute charging is all right. The
thing is that, you can give an extremely useful information that will
help to improve the business in some industries within a minute. SEO
consulting can be taken as an example.
Pay-per-project. In this case consultant is paid the certain amount
that was discussed in advance.
Source: https://www.mybusiness.org/consulting
Source: https://www.mybusiness.org/consulting
){kind=link}
0 Comments