Starting a Consulting Business: Everything You Need to Know

Starting a consulting business can be very profitable. U.S. companies spent more than $12 billion on consulting in 1997. More individuals are moving into consulting positions because technology has made the transition easier.

The dictionary defines a consultant as "a professional in a specific subject who works as an advisor both to an organization or to a particular person." A consultant provides advice; no more, no less. It is that straightforward. There is no secret recipe that makes some consultants more successful than others.

Drive and passion are the main things that separate good consultants from bad consultants. An excellent consultant ought to be educated on the topic she or he specializes in. Today, anybody can be a consultant. All that’s needed is to figure out your specific area of expertise.

Things to Consider Before You Become a Consultant

Depending on your occupation, you might need a specific type certification or license for consulting. For instance, fundraising consultants do not seek specific certification, though the Association of Fundraising Professionals could license you. In some places, you must register as an expert fundraising consultant before beginning your corporation. Ensure you have the necessary skills to be a successful consultant. If you wish to be a marketing consultant, for instance, be sure stay up to date with all developments and changes within that field.

To be a consultant, one must be organized and knowledgeable in time management. Networking is also a vital component of consulting. Make sure to always be adding contacts to your network.

Top 20 Thriving Consulting Businesses

The following fields are excellent options for a consulting business:

Accounting - Accounting is essential to every business, regardless of the size. Accounting consultants assist companies with all their monetary needs.

Advertising - Advertising consultants will help a company write an advertising plan or present concepts that may help promote the company.

Business - Business consultants know the right way to help an enterprise turn a profit. This position is for individuals who have great business sense. This is the second most sought-after type of consultant.

Business writing - Most business people have trouble with several types of writing, from extensive reports to simple emails.

Communications - These consultants focus on serving workers in companies of various sizes. They help internal communication, which in the end improves the company’s culture and overall function.

Computer Programming - If you understand computer systems, your largest drawback is being so in demand that you don’t have enough time to address every client request in a day.

Editorial - Whether producing internal company documents or distributing content, consultants within the editorial field will always be appreciated.

Government/Headhunting - Some individuals enjoy discovering new talent for companies.

Gardening - Companies aren’t the only ones hiring gardening consultants; every day, people often find themselves too busy to tend to their own gardens and need a gardening consultant.

Human Resources - Since companies will always have employee issues, these consultants will enjoy an unending source of work, for both big and small companies.

Insurance Coverage - Insurance coverage is essential, but plans and pricing are often confusing. An insurance consultant helps people figure out the best plans and pricing.

Marketing - A marketing consultant is often employed by a business to develop a great strategic marketing campaign.

Payroll Administration - By utilizing your knowledge of and experience in payroll administration, you can offer your services to companies of all sizes.

Public Relations - Focusing on generating positive press for any company is an art form.

Publishing - A publishing consultant normally helps new companies launch brand new newspapers, journals, newsletters, and even websites and digital newsletters.

Taxes - Tax consultants help companies implement strategies to pay the lowest amount of taxes possible.

Writing - Writing assistance will always be a hot commodity. Once you discover your writing specialty, and the sky is the limit.

If you need help starting a consulting business, you can post your legal need on UpCounsel’s marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Stripe, and Twilio.