Ever considered making money from your expertise and pursuing a career in freelance consulting? If you have a lot of knowledge about a certain topic, or have gained experience working in the same field for several years, you could become a consultant. Here are some top tips for starting your own successful and profitable consultancy business from home.
Find Your Niche and Learn More About It
You’ll probably already know your niche and what field you are considering freelancing in. It may be that you have worked in one particular sector for many years, or you just have specialist and detailed knowledge about one topic. Once you have decided on your consultancy niche, you must conduct thorough research. You may think you know everything about your niche, but there are likely to be things you do not know or are not yet aware of. It does not hurt to learn extensive information about the field you are consulting in and be fully prepared.
Who is Your Target Market?
Who is the intended market for your consultancy service? What are their needs and particular wants? It is vital to undertake a detailed study about your target market before taking on any paid consultancy work. Why is this so important? Because if you choose the wrong market or don’t fully understand the needs and desires of your customer base, your freelance consultancy business model will fall apart.
If you do not have the right credentials, certificates or licenses necessary to do the job, there’s no point in taking on paid work. For consultants in some fields, such as accountancy and medicine, it is a legal requirement to have licenses and credentials in order to act as a consultant. Some consultants, such as gardening consultants, do not need any legal credentials at all. Make sure you know what you need to legally be a consultant in your chosen field.
Networking is Key
If you have no contacts in your chosen field and nobody knows you, it will be a struggle to find work. Networking is imperative for any freelance consultant, and maintaining and expanding your customer base should be your primary aim. Build your business contacts by starting with associates from previous jobs you had within your field, as well as family and friends. Use social media sites, such as Twitter and LinkedIn, to connect with potential clients and create quality business links that will help to raise your status as a reputable consultant.
Price Yourself Right
Avoid setting the fees for your specialist consultancy services too cheaply. You should price yourself competitively and reasonably, and as your reputation and your client base increases, so should your fees.