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Steps for Starting a Business Consulting Company

 Like any other enterprise, building a business consulting company takes hard work. Remember that being merely a business consultant and owning a business consultant company are two very different things. While being a business consultant is certainly a lot of hard work, owning a business consulting company takes hard work up another level. And while owning and running a business consulting company can be very stressful and challenging, it can also certainly be rewarding.

Here are some of the steps you need to take when you’re looking into building a business consulting company, or start-up:

1. Develop your product or service.

Make sure your product or service can compete with others in the same industry or line of work. Make sure that you are an expert in what you do and in what you offer. In the case of a business consulting company, your product is yourself, and your service is consultancy. Make sure that both are viable and good enough to compete in a tight market.

2. Build in a “unique factor” and focus on why your help is valuable.

There are tons of business consultants out there. Make sure you stand out from the crowd and find a way to attract clients to you. Find something unique about yourself and your offering, and ensure that customers find your offering so enticing and valuable that they find it hard to turn your company down.

3. Design a comprehensive marketing strategy to reach business owners needing your product or service.

It’s not enough to know who your market is; you also have to know how to reach your audience and prospective clientele. Knowing who your prospects are and how to get their attention will help you create marketing strategies that work.

4. Write a book telling your story and expertise.

Writing a book or at least content based on your story will help you exude an air of authority and know-how. Clients tend to trust you more if you are a published author. Be sure the story you tell describes your focus on how you solve problems and overcome challenges.

5. Create videos to tell your story.

Rather than reading, some people (65% of business executives) prefer to watch a video than read a document when given a choice. As a matter of fact, videos can be even more persuasive than words in a shorter amount of time. You may opt to create videos for your website and social media profile or combine them with written content.

6. Know your strengths, but also know your limits as well.

Learn from your mistakes – believe me, you will make tons of them. When you know what you can do and what you can’t, you can reduce your stress and become more efficient as a business consultant. Also, while it can be very tempting to say yes to every client and accept every project that comes your way, know the amount of work and the kind of customer you can handle.

After all, while you are technically your boss, owning a business consulting company also means that each and every one of your clients is your boss.

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