Why You Should Choose Consulting As A Career

 

Consulting is an excellent career choice for someone who has sufficient knowledge of the domain. Let's understand the consulting in detail.

 What does the consultant mean?

Consultants are freelance experts who share their knowledge for money. For example, a financial consultant offers advice on financial matters, or a marketing consultant advising the company on marketing aspects. Companies hire consultants because they require expert advice. It’s a win-win situation for both, the company and the consultant.

 A consultant receives money for:

 ·        Advising on the specific problem a client might have

·        Providing expert advice on a particular process

·        Guiding the Company to ensure an efficient decision making

·        Advice on speeding up the process

 So in a way, a consultant exchanges His knowledge in return for money.

 Do you know that a top-notch IT professional is hired by an IT company just to oversee the software development process? A top-notch IT consultant can command anywhere between $50,000-75,000 just to ensure that the software is free from any bug.

 Do you know relationship consultants get paid $100 an hour just to listen to the rants of broken-hearted people?

 When you hire an SEO to rank your website higher in search results, you are hiring a consultant.

 The consultants charge insane amounts for their service because they are experts in their field. This aptly proves, "knowledge is power,"

 Successful consultants live an enviable life.

 The characteristics of a good consultant

 He is able to deliver amazing results (which full-time employee fails to accomplish)

 He is backed by years of experience (consider retired CEOs, ex-bankers)

 He has a reputation and good client base (take a look at giant consulting firms)

 Most importantly they know their clients well. A consultant will rarely approach someone who cannot afford to pay.

 Now you know why consulting is a profitable business. You should start one. You can even start consulting as a side-hustle.

 Imagine having a side business that pays to share your knowledge. More importantly, it is fun because the cost of starting your consulting business is almost zero. Zero investment equals to zero risks.

 The beauty of this business is that you get plenty of opportunities to upgrade your skills. You learn a lot of things while guiding others. Even if you hate learning, you will be forced to learn because you are getting paid to learn.

 The ABC of consulting business

 ·        Like other businesses, consulting too involves marketing yourself. You will have to work hard to find clients.

·        You must also keep a tab on the competition. Like any freelancing career, it involves offering attractive prices for your services. Once you are successful, you can increase the rates.

·        Since consulting involves marketing, you need an attractive website to communicate with your potential customers.

·        You must acquaint yourself with various billing methods. For example, you can charge on an hourly basis or you can opt to work at a fixed price.

·        You will be dealing with types of people. You will be dealing with small as well as large businesses. Each one will have different requirements even though the services required are the same.

·        If you plan to hire people, make sure that they are qualified enough to stick to the deadlines. As a professional, you can't come up with excuses for missing deadlines.

·        The biggest trait of a consultant is patience. Sometimes you may encounter a hyper client or if you are working with a large company, you may face bureaucratic hurdles. You must be able to remain calm and diplomatic.

·        Since you would be dealing with people on a regular basis it is important that you learn about people management.

·        You will also be required to maintain an active social media profile. Social media is the best platform to advertise your services. social media also helps you to build trust.

 As you can see, you will learn a lot of things when you are providing consulting services. Many people consciously or unconsciously do consult at some point in their life. When you start small, land your first client and make him happy, you begin to get referrals. This is the beginning of an exciting journey. Soon you will find yourself running a full-fledged consulting company.

 The key is to start small and deliver outstanding results. The beauty of the consulting business is that it can be started with minimal investment.

 What is the downside?

 Well, since the consulting business requires very little investment, there is a very limited downside. If you fail, at most you will lose your time and effort. But if you succeed the sky is the limit.

 Can you start consulting as a side business?

 Yes, you can start consulting as a side business without compromising your 9-to-5 job. It doesn't matter if you are a plumber or a small garage owner. you can start this business. The only qualification for this business is knowledge. In fact, everyone should start consulting as a side hustle. This will help you if you are suddenly laid off from your job.

Why consulting is ideal as a business?

 Well, in other business you are required to maintain an inventory. Consulting does not have this limitation.

• As an accountant or a lawyer, you require an educational background. Consulting does not require specific educational qualifications. Anybody can start consulting business.
•  The only hurdle to run a successful consulting business is finding clients. You have to gain people's trust and this is not easy.

 Many consultants are forced to shut shop because they cannot withstand dry business for a long time. Another hurdle is the mindset, a majority of people think they know it all and hate to take advice from other people.

 How to find your first client?

 Consulting is all about the personal touch. If you think building a website will have clients running for you then you are in for a disappointment. Instead of designing a fancy website, you should go out and meet people. Talk to people, listen to their problems, and offer solutions. If you don't love the company of people, you can never become a successful consultant.

There is a lot of grinds before you see profits. First, you will have to demonstrate knowledge. When you share your knowledge, you are building trust. Remember, this is a long game that requires patience. There is no shortcut to success.