{"id":21920,"date":"2022-09-14T05:38:27","date_gmt":"2022-09-14T05:38:27","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=21920"},"modified":"2022-09-14T05:38:27","modified_gmt":"2022-09-14T05:38:27","slug":"how-to-start-a-consultancy-business","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/how-to-start-a-consultancy-business\/","title":{"rendered":"How To Start a Consultancy Business"},"content":{"rendered":"

\"How<\/p>\n

Are you ready to go solo and offer out your expertise as a full-time business consultant?<\/strong><\/p>\n

Making the first step to either work for yourself or start a completely new business venture can certainly be exciting but there are some things that you must consider if you\u2019re thinking of following thousands in recent years<\/a> in setting up your own consultancy business.<\/p>\n

Identify your specialisation<\/h2>\n

Business consultants often vary in the services that they offer. Depending on the size and nature of your business, you may wish to offer a specific service or cover a whole host of different topics.<\/p>\n

Your background and skillset will usually determine in which area you specialise. You usually don\u2019t need any specific qualifications but a degree or a strong commercial background could put you at an advantage. You\u2019ll often just need the knowledge that other companies can put to good use.<\/p>\n

The services which you could offer include management or finance consultancy, HR consultancy, IT consultancy or strategic consultancy.<\/p>\n

Goals and rates<\/strong><\/h2>\n

A crucial early step is to identify your goals so that you have something towards which to work. Some of your aims may include the number of clients that you plan to retain, the amount of revenue that you earn at the end of the year or how you plan to grow your business overall.<\/p>\n

Setting measurable business targets will help you on your way to becoming a successful management consultant \u2013 after all, why should people be listening to your advice if you don\u2019t have your own house in order?<\/p>\n

You must also assess from where your start-up money will come, as well as how much you plan to charge your clients. You may decide to charge an hourly rate or vary charges depending on the nature of the projects on which you\u2019re working.<\/p>\n

A retainer model, meanwhile, charges clients in advance, acting as a safety net for you and your business. It\u2019s a model that is often favoured by established consultants.<\/p>\n

Insurance<\/strong><\/h2>\n

There is always the possibility that something bad can occur unexpectedly. Whether you\u2019re just starting out or you have an established agency already, it\u2019s vital to have the right insurance for therapists in place<\/a>.<\/p>\n

Having the relevant insurance enables your business to be in a position to recover financially if necessary and can help to cover any claims and costs when you\u2019re least expecting them.<\/p>\n

Registering your business<\/strong><\/h2>\n

You need to register your business<\/a> and decide whether you are going to be a sole trader or a limited business. This will influence how you manage your finances and what tax you will need to pay.<\/p>\n

Registering as a sole trader means that you will be solely responsible for the liabilities that come with your business. On the other hand, registering as a limited company means that your consultancy business is a separate legal entity owned by shareholders, affecting how liability is placed.<\/p>\n","protected":false},"excerpt":{"rendered":"

Are you ready to go solo and offer out your expertise as a full-time business consultant? Making the first step to either work for yourself or start a completely new business venture can certainly be exciting but there are some things that you must consider if you\u2019re thinking of following thousands in recent years in […]<\/p>\n","protected":false},"author":7,"featured_media":21922,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":""},"categories":[3585],"tags":[],"acf":[],"yoast_head":"\nHow To Start a Consultancy Business - OpenBusinessCouncil Directory<\/title>\n<meta name=\"description\" content=\"Depending on the size and nature of your business, you may wish to offer a specific service or cover a whole host of different topic\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.footballthink.com\/how-to-start-a-consultancy-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How To Start a Consultancy Business\" \/>\n<meta property=\"og:description\" content=\"Depending on the size and nature of your business, you may wish to offer a specific service or cover a whole host of different topic\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.footballthink.com\/how-to-start-a-consultancy-business\/\" \/>\n<meta property=\"og:site_name\" content=\"OpenBusinessCouncil Directory\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-14T05:38:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.footballthink.com\/wp-content\/uploads\/2022\/09\/How-To-Start-a-Consultancy-Business.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Hernaldo Turrillo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Hernaldo Turrillo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.footballthink.com\/how-to-start-a-consultancy-business\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.footballthink.com\/how-to-start-a-consultancy-business\/\"},\"author\":{\"name\":\"Hernaldo Turrillo\",\"@id\":\"https:\/\/www.footballthink.com\/#\/schema\/person\/b9610afd0759dc701187a7f622375c23\"},\"headline\":\"How To Start a Consultancy Business\",\"datePublished\":\"2022-09-14T05:38:27+00:00\",\"dateModified\":\"2022-09-14T05:38:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.footballthink.com\/how-to-start-a-consultancy-business\/\"},\"wordCount\":497,\"publisher\":{\"@id\":\"https:\/\/www.footballthink.com\/#organization\"},\"articleSection\":[\"Business Resources\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.footballthink.com\/how-to-start-a-consultancy-business\/\",\"url\":\"https:\/\/www.footballthink.com\/how-to-start-a-consultancy-business\/\",\"name\":\"How To Start a Consultancy Business - 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