How to Open and Operate a Financially Successful Consulting Business

Kristie Lorette

Jan 2011 · Atlantic Publishing Company

About this ebook

Companies, organizations, or individuals hire consultants to provide advice to themselves or to clients for a fee to help solve a particular problem or provide certification within the area of their expertise. A recent survey by the Association of Management Consulting Firms found entry-level consultants earn an average of $65,000 annually while senior partners earn an average of more than $300,000 (including bonuses and profit sharing). Self-employed business consultants may earn $35 to $400 per hour depending on their market.

A majority of consultants have gained their expertise from previous employment. There are as many consultants as there are areas of expertise; one thing they all have in common is that they are well paid.

The business of consulting is growing rapidly. According to the Bureau of Labor Statistics, consulting in particular business and IT consulting are becoming one of the fastest growing business segments in the U.S. economy. There has never been a better time to start your consulting business and get ahead of the competition.

This new book is a comprehensive and detailed study of the business side of providing consulting services. If you enjoy meeting people, having a home-based business, traveling, problem solving, and using your expertise, this may be the perfect business for you. Keep in mind it looks easy, but as with any business, looks can be deceiving. To avoid the pitfalls, use this complete manual to arm yourself with everything you need including sample business forms, agreements and contracts; worksheets and checklists for planning, starting, and running day-to-day operations; and dozens of other valuable, timesaving tools of the trade that every entrepreneur should have. Here is the manual you need to cash in on this highly profitable segment of the service industry.

While providing detailed instruction, examples, and case studies, the author leads you through establishing your office, learning how to draw up a winning business plan ( the Companion CD-ROM has the actual business plan you can use in MS Word â,,¢), and provides dozens of forms you will need in your business. You will learn basic cost control systems, the best sales and marketing techniques, and pricing formulas.

This book will teach you how to hire and keep a qualified professional staff (if you even need one), to use subcontractors, to deploy word of mouth marketing to get new clients, to use the power of the Internet, to network, get referrals, evaluate consulting opportunities, do your own sales planning, have great customer service, get reimbursed for expenses, proposals, and sales presentations, track competitors, do your own accounting, be certified as a "professional" consultant, increase client satisfaction, develop valuable contacts and resources (including the top professional associations for consultants and magazines), compile monthly profit and loss statements, and prepare taxes. You will be provided IRS requirements, and even get help to set up your computer systems to save time and money. The companion CD-ROM is included with the print version of this book; however is not available for download with the electronic version. It may be obtained separately by contacting Atlantic Publishing Group at [e-mail]

Atlantic Publishing is a small, independent publishing company based in Ocala, Florida. Founded over twenty years ago in the company presidentâe(tm)s garage, Atlantic Publishing has grown to become a renowned resource for non-fiction books. Today, over 450 titles are in print covering subjects such as small business, healthy living, management, finance, careers, and real estate. Atlantic Publishing prides itself on producing award winning, high-quality manuals that give readers up-to-date, pertinent information, real-world examples, and case studies with expert advice. Every book has resources, contact information, and web sites of the products or companies discussed.

About the author

Copywriter and marketing consultant Kristie Lorette is passionate about helping entrepreneurs and businesses create copy and marketing pieces that sizzle, motivate, and sell. It is through her more than 14 years of experience working in various roles of marketing, including running an event and wedding planning service of her own for four years, that Lorette developed her widespread expertise in advanced business, marketing strategies, and communications. Lorette earned her B.S. in marketing and B.S. in multinational business from Florida State University, and her M.B.A. from Nova Southeastern University.