Archive for the ‘Consulting business ideas’ Category

5 tips from a Vancouver business plan writer

Are you working on a business plan for your business? Are you feeling stuck or having a hard time getting started with your business plan? Here are 5 tips from Vancouver business plan writer Andrea Coutu:

1. Just get started

For many, writing a business plan can feel like a daunting task. All those tables, charts, figures and all that research can feel overwhelming. And what do we tend to do when feeling overwhelmed? Procrastinate! But don’t let your tendency to procrastinate or to strive for perfection get in the way of your business planning.

Not sure how to move forward? Like any large project, a business plan is best tackled in bite-sized chunks.

An effective place to start is with a table-of-contents style outline. Here’s a sample business plan outline that includes 10 sections. 

Start by listing those 10 sections, and then brainstorm whether your unique business plan requires additional specialized sections that pertain to your specific industry. Aim to have twenty sections (or sub-sections) in your outline.  (Don’t worry, you can always cull them later. But it’s great to brainstorm quite a few sections to get your creative juices flowing.)

Once you’ve brainstormed a tentative outline, pick the section that is the most appealing to you (or pick the section that you feel will be the easiest part of the business plan to write). And now you’re on your way to writing your business plan.

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2. Research is a launching point for networking

When writing a business plan it’s integral to do research. Research can take many forms, including analyzing market research or simply chatting informally with others in your industry. Ideally, your research will include both formal and informal research.

When seeking feedback and doing research, why not enlist some friends, peers or mentors to help answer some of your burning questions? Not only will this help improve your business plan but it will help expand your network at the same time.

3. Know your strengths and weaknesses

Are you a master marketer but couldn’t multiply your way out of a paper bag? Or maybe you are the opposite – are you great with numbers but find networking or selling yourself to be a painful prospect

Get to know yourself. And if there’s an area of your business plan that you know is a weakness for you, consider bringing in extra help from a professional business plan writer in your area.

4. Connect the dots

It’s great to set high financial goals in your business plan. But don’t forget to connect the dots regarding how you are going to reach your goals.

This is why your sales and marketing plan is important. Outline a step-by-step plan regarding the specific actions you are going to take to help achieve and exceed your goals.

5. Get a second set of eyes

Once you’ve got your business plan to a final draft stage, now is the time to enlist someone you trust and who will also provide sound, constructive feedback. And don’t just get feedback from someone who always supports you. You want someone who will help you identify both the strengths and weaknesses in your plan. So choose that second (and third!) pair of eyes wisely.

Writing a business plan is something you can definitely do on your own. However, for an extra leg up or to leverage someone else’s expertise consider hiring a business plan writer to help you put together an effective business plan.

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8 reasons the economy means opportunity

Opportunities for consultants in a bad economyWorried about the economy? Don’t be.

When you’re a consultant you’re in control. You create your own business, your own contacts and your own client list. Being in control is one of the many reasons why consulting rules.

Here are 8 reasons the economy means opportunity for consultants:

1. Layoffs mean gaps that need to be filled

Fewer employees in the workforce mean that there are unmet company needs that can’t be filled by regular employees.

2. Less competition

When the economy is threatening to go sour many on-the-fence consultants looking for a change take the opportunity to get back into the regular 9-to-5 workforce.

3. More short-term contracts and one-off projects

Many companies are hesitant to take on new employees during so-called “bad” economic times and turn to consultants instead.

4. During a down-turn companies get serious about growth

During a shaky economy companies tend to get serious about marketing and planning their future. This can mean more work for consultants who offer strategic advice.

5. Opportunity to diversify your client base

If your regular source of work dries up during tough economic times it can be a great time to tweak your primary target market. Try government or healthcare or other industries who are less affected by the economy.

6. Look for new opportunities that weren’t there before

Downturn in the economy? Consider the market and whether that downturn has opened up a new opportunity in your service offering.

7. More time on your hands? Get focused.

Finding yourself with a gap in your schedule due to a slow economy? Take the time time think. Have you been too reactive when it comes to accepting new clients? Why not take this opportunity to go after the clients that you really want–rather than take the jobs that come knocking on your door. If you’ve been running from project to project without a chance to catch up or plan strategically, get serious about your business and go after the clients that will really take your business to the next level.

8. Work-life balance

Many consultants take few vacations and operate on a boom and bust schedule, often working erratic schedules if they are driven to grow their business. Finding yourself with a bit more free time? Relax. And take a moment to catch up on your work-life balance.

So don’t get sucked into worrying about the economy. Focus on the opportunities that are out there and how you can provide value in your industry.

Do you agree with these 8 reasons the economy means opportunity?

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Why build your consulting website using WordPress

Whether you are a just getting started as a consultant or whether you’re a seasoned veteran, chances are you will need a consulting website. Gone are the days where a business card will suffice when it comes to marketing your consulting business. You’re going to need a website.

The good news is that building a website is not as expensive as it used to be. And websites are becoming easier and easier to update and use.

If you are in the early stages of getting your consulting website set up, I suggest finding an IT consultant who is familiar with "WordPress" and having your consulting website built on WordPress.

What is WordPress? WordPress started out as free blog publishing software, but it is now used for more than just blogs. In fact, WordPress has been used by the Wall Street Journal, Ford, universities and many other large organizations. 

So, why build your consulting website using WordPress? Here are the top three reasons why you should build your consulting website using WordPress.

1. Inexpensive:

WordPress is free to use and inexpensive to install. Most IT consultants and firms are familiar with WordPress, and setting it up for you is a snap, which is generally reflected in the price.

Quick tip: Ensure that your WordPress site is installed on your own domain name (for example: www.yourbusinessname.com) rather than at the free WordPress blogging site (for example: www.yourbusinessname.wordpress.com).

2. Easy to use

WordPress is easy to use. And its popularity ensures that there are many online tutorials available for free. These tutorials can help you learn how to update your own website without having to rely on your IT consultant for every little change, such as changing your phone number or mailing address.

3. Standardized

If, in future, you would like to change the design of your consulting website, it will be easy to change because WordPress is standardized. You can easily buy new designs for your website, which most IT professionals should be able to install for you.

Are you looking for an IT professional to help you build your consulting website using WordPress? Check out the consultant directory.

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IT contracting rates

IT contracting rates vary greatly based on a number of factors, including location, skills required, and specialization.

Location – IT contracting rates:

In today’s world where outsourcing and cloud computing are becoming increasingly popular, be mindful that IT contractors are often competing with other IT experts from all over the world, including countries with lower costs of living. However, this competition doesn’t necessarily mean that rates are reduced or that there isn’t room for you in the IT contracting world. In fact, IT contracting rates continue to vary greatly, and there is still room for IT consultants at the higher end of the rate spectrum–as long as you are clear on the value that you provide and who your market is.

Skills required – IT contracting rates:

Regardless of location, there are a wide variety of client requirements–from small projects for individuals or small businesses to multi-year contracts for large corporations or governments. In light of this, IT contracting rates will vary greatly depending on the project and the perceived value or importance of the IT work that is being contracted. Some IT contracts require high-level skill and professionalism. For example, IT contracting in the securities and banking industry obviously require increased quality, monitoring and accountability which are reflected in price. This brings us to the next factor: specialization.

Specialization – IT contracting rates:

As in any consulting field, it’s crucial that you carve out a niche for yourself. Getting specific about your service offering helps in many ways, including being seen as an expert and being able to focus your marketing on a small, clear group of potential customers. Many IT contractors start out as generalists but they soon discover that IT contracting rates are higher in more specialized fields. Why not save yourself some time and skip directly to a specialization? Discover your niche and grow your IT contracting rates.

Are you interested in learning more information about setting IT contracting rates? Check out this excellent article about computer consulting fees. Further, if you’re looking for help setting your own IT contracting rates, obtain a copy of Consulting Fees: A Guide for Independent Consultants.

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Become an IT consultant

Become an IT consultant – Are you interested in becoming one? If you are, you’re in the right place. In this article, I have compiled some valuable resources that can help you become an IT consultant. Here are some of the top questions and answers related to how to become an IT consultant.

If you want to become an IT consultant one of the first steps is to decide how you’re going to start consulting. Will you start as a part-time consultant or will you transition into consulting full-time? IT consulting can be a second-job or a full-time job. It’s up to you. Inc Magazine notes the wide variety of opportunities in the field, but you should know that you can choose your hours and how to go about it – you don’t have to work for a big firm with long hours.

How much do IT consultants make? Take a look at this article that explains average IT consulting rates.

Do IT consultants need a specialization or niche? It’s not necessary, but finding a niche is definitely recommended because it will make your life as an IT consultant a lot easier and much more profitable. Discover your IT niche today.

I’ve decided to become an IT consultant. Where do I start? Excellent! Check out this article: I’ve decided. Now what?

Become an IT consultant today. Want to learn more about how to become an IT consultant? Consider enrolling in the become a consultant course.

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Consultant course – 5 great options for study

Taking consultant courses can be an effective way to jumpstart your career as a consultant. However, consultant courses aren’t always easy to find or aren’t necessarily in your area. Here are 5 great consulting course options for study that will help you launch into your next career as a consultant. Consider combining some of the below options for an even more effective method!

1. Self-study

Self-study can be a great way to get all the information that’s contained in a consultant course at your own pace. Self-study can be comprised of many different methods, including reading, researching, taking online consultant courses or speaking to active consultants directly.

2. Find or create a peer group (online or in person)

Do you know of any other individuals who are interested in taking consultant courses as well? Join together and share resources, motivation and insights. If you’re in an urban area, create your own starter consultant group. Ask around–both locally in your community and online. You’ll be surprised at how many like-minded people you may run into!

Your consultant course peer group can be in your own city or online.

3. Find a mentor

One of the surest ways to find success is to get to know someone who you admire and who has achieved the results that you hope to achieve. Speaking for an hour or two to a consultant in your niche can be its own consulting course! Mentors are valuable. Although busy, many potential mentors are happy to help out new consultants. Don’t be afraid to pick up the phone and connect with acting consultants in your area who specialize in your area of expertise.

4. Local courses

Consultant courses are not regular curriculum at universities or community colleges. However, you can inquire at your local business organizations regarding whether there are any consultant courses happening in your area.

5. Online courses

One of the most effective ways to become a consultant is to take an online consultant course, like Become a Consultant: How to Make the Leap, which contains a number of workbooks, audio, and a one-year subscription to the insider’s edge newsletter.

Hopefully you’ve found these 5 great options for consultant courses helpful. If you’re considering taking a consultant course that must mean that you are seriously considering this exciting life change. Why not take the next step re: consultant courses and take action on one of the items above?

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7 reasons to own a niche

1. Expertise

When you own a niche you are perceived as an expert in that niche. (And you will become an expert in that niche over time, if you aren’t already.) Customers feel more confident when they perceive you as an expert, and it’s easier to stand out in one area.

2. Clear elevator pitch

We’ve all met individuals at networking functions who stammer, "I’m a creative writer, but also do social media. And I love helping businesses with their financial books. And I sell audio files on the internet." When we hear someone with such a diverse range of interests and skills, it can be difficult to know what type of work to hire this consultant for, so we don’t end up hiring them at all.

On the other hand, if we meet someone with a very specific skill-set, such as, "I’m a fitness coach for pregnant women.", we may not need these services right away but we associate this consultant with a specific area of expertise. And when we have a need for such services, even years later, we will remember the specialist and seek her out.

3. Clear understanding of your market

When you own your niche you understand who your customers are. If you are an interior designer who specializes in the restaurant industry your customers are high-end restauranteurs. But if you are a general interior design consultant your customers are all homes and all businesses, which can be difficult to market to and stand out in.

4. Easier marketing – Direct to potential customers

When you own your niche and understand who your customers are, by default, you know where to market yourself. Advertising dollars are better spent and your message gets out to specific, potential customers more directly.

5. Your name is associated with your niche

You want people to associate you with a particular problem or situation. To use a basic analogy, if a man has gutter problems on his home he is more apt to flip to the yellow pages and contact "The Gutter Guy Co." rather than flip to the yellow pages and seek out a general handy man who may not be experienced with gutters–even if his price is lower. The same general rule applies to your consulting business. You want to be a specialist and you want to be known as "The Gutter Guy" or "The High-End Restaurant Interior Designer" or "The Fitness Coach for Pregnant Women."

6. Easier to stand out

When you own the niche it is easier to rise to the top–be it by word of mouth, in the yellow pages or in the search engine results.

7. Higher rates

Specialists earn more than generalists. It’s a fact! Customers are willing to pay for your expertise. Want to find out more about the elements that effect your rates and how much you can charge? Check out Consulting Fees: A Guide for Independent Consultants.

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Social enterprise – four rules for start up

Planting the seeds of social enterprise

Is a social enterprise in your dreams? In this guest post, Daniel Frank of GiveACar shares some tips for planting the seeds of a social enterprise.  Giveacar is a social enterprise that allows you to donate your old car, just as you might donate possessions to a charity shop. Its goals are simple – to raise as much money as possible for registered charities and to recycle cars to the highest environmental standards.

Social Enterprise [soh-shuhl en-ter-prahyz] – verb

1.      A Social Enterprise is any for-profit or non-profit organization that applies capitalistic strategies to achieving philanthropic goals.
Ok, so now that we’ve got the definition out of the way let’s get down to the nitty gritty details of how to start and run a successful social enterprise. But firstly, let me briefly tell you about myself and my experiences with social enterprises.
Basically, I am currently employed by a social enterprise in the UK called Giveacar, which has raised hundreds of thousands of pounds for hundreds of charities through the scrappage an auctioning of unwanted scrap cars. I have first-hand experience of how social enterprises operate on a daily basis and I would now like to pass this information on to you.
Rule 1# – Follow Your Passion
Running a social enterprise is a tough business and it’s only going to be successful if you’re doing what you love. Find what your passion in life is and make it the core function of your social enterprise. Giveacar founder Tom Chance was obsessed with cars; he would sell cars whilst at university so it was a no brainer for him to start a social enterprise whose core business is cars. If your hobby is also your ‘job’, you will rarely feel like you’re ‘working’ and success will follow.
Rule 2# Utilise the Benefits that come with Social Enterprises
A lot has been written about the failure rate of social enterprises, some concluding that they have not lived up to their promise. The key is to take advantage of the powerful set of factors that are available to social enterprises and not to your standard business. For example, the mission can create a strong marketing proposition which will appeal to many people, whilst social entrepreneurs have a greater chance of attracting like-minded talented workers which should help your social enterprise grow.
Rule 3# Take Advantage of Corporate Social Responsibility
These days every large businesses is so concerned about their public image that they’re spending huge sums of money on CSR just to get on the good side of the public. Being a social enterprise means that you can take full advantage of this. Get in contact with the large businesses in your area and see if they can help you out. Maybe they can provide you with some free equipment, business advice, or maybe they might give you a donation to help run your social enterprise.
Rule 4# Survive Long Enough to Get Lucky
Your job is to make sure that your social enterprise lives to fight another day, every day. If you do this enough times, then with the power of your social mission and your passion towards making a difference, your break will come.
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Smart social butterfly turned into software

I was at O’Reilly Strata last month, where I met Claude Theoret. Claude’s story is fascinating. He’s an astrophysicist turned consultant turned social media software pioneer. And he’s found a way to take his social and analytic skills and turned them into software.

Now, if you’re a consultant, you should be stoked at the thought of turning what’s in your head into a product that you can expand forever without ever worrying about time. It’s the joy of infinite solution-based consulting fees.

Claude’s Inner Consultant

Those of you who’ve read Discover Your Inner Consultant know that I encourage people to take what they love and find new and interesting ways to apply it. Claude’s got great networking skills and that’s shaped his career in some ways you might not expect. He helped found the astronomy at McGill University (known as Canada’s Harvard), then went on to work for CERN and French Universities, where he published articles in Science and Nature. Along the way, he got really good at crunching numbers and he already had great skills in connecting people. So, in 2006, he founded Nexalogy Environics, a firm with the goal to build  “the best strategic network intelligence firm in the market.”

Claude’s story of science expert turned social media expert intrigued me. After all, I’m a consultant, so anything to do with building expertise captivates my interest. And I’m a marketer, so social media really gets me fired up. But watching Claude in action was something else too – he’s that guy at a conference who seems to know everyone and who excels at introducing people to others who have their interests. (Thanks for all the introductions, Claude.) And the amazing thing is that Claude has found a way to use software to do that for other people. Imagine that you’ve tapped into the brain of a social butterfly – a really smart social butterfly. An astrophysicist social butterfly who knows marketing.

Turning consulting services into a powerful product

Originally a consulting services firm that helped organizations manage stakeholders, Nexalogy noes helps all sorts of organizations do risk mapping. What’s that, you ask? Well, let’s say you own a natural resources firm and you’re about to take on some new projects. Using Nexalogy Environics software, you can peruse social media – like Twitter or blogs, for example – to find out who’s been talking about that area or your firm. You can find out who’s a fan and who’s been griping. You can sort out the memes that emerge and then identify influencers and detractors. With that information, you can then seek to engage and educate those stakeholders about the work you’re doing. Given the breadth and span of social media, you can engage people who might not be able to show up at townhall meetings, perhaps because they live too far away or their lifestyles just don’t accommodate it.
(Now, as a consultant, I think this is really cool. Claude has productized his consulting services.)

What’s in it for consultants

If you’re a consultant, using social media tools like Nexalogy can help you bring new ideas and insights to your clients. An IT consultant can see what the big stories at major conferences are. A marketing consultant can review the online landscape, get a better understanding of an online brand, and do a better job. Claude notes that this provides a great opportunity for consultants “to look smart and value add”. He notes that Nexalogy’s going after the heavy hitters – enterprise users. But, even if you’re a start-up consultant in a small town somewhere, Claude says you can still tap into tools like Viralheat  before you scale up to Nexalogy.

New opportunities in brand evaluation

Social media software like this also means new opportunities in brand evaluation. You can scan all the blogs, Twitter and other social media and see what themes emerge, says Claude. You can find out how people are really relating to your product – and how they’re using it. You might find out some people are using your product in unexpected ways – ways that, if you brought their attention to more markets, would allow you to deepen your reach and expand sales. And you can do all this without having to read individual blogs and Twitter feeds – while still gaining information about how people spontaneously relate to your brand in their natural environment. That’s way more insightful than an artificial focus group.

Visual presentation of stuff you’d otherwise have to read

Nexalogy has some great examples of their online software in action:
 By the way, if you missed my coverage of Strata, you should at least never use 3D charts again without reading this.

Types of consultants

Types of consultants – Think there are only just a few types of consultants? Well, think again! There are hundreds of types of consultants. Here at Consultant Journal, we have profiled numerous consulting niches, and we’ve only just scratched the surface!

Types of consultants can be broadly arranged into consulting sub-categories. Of course, some types of consultants can be grouped into more than one category, so be sure to check out all the categories if you’re looking at this list of types of consultants for inspiration on your journey to become a consultant.

1. Personal consultants

Personal consultants offer personal services to individuals, such as weight loss and fitness consultants, home staging consultants, clutter consultants, skin care consultants and wedding consultants.

Personal consulting tends to be easier to get into because there are fewer certification requirements.

2. Technical consultants

Technical consultants perform technical services for business. Quite often, these types of consultants are hired to execute a specific project or deliverable, rather than provide advice.

There are a wide range of technical consultants and they can range from graphic designers, IT consultants, grant writing consultants, online researchers, copywriting consultants, and more.

3. Business consultants

Business consultants provide advice to other businesses, from small businesses to Fortune 500 companies. There are numerous types of consultants in this sub-category, especially because many business require these services but do not require them enough to warrant hiring a full-time staff member. Thus, businesses turn to consultants to fill this need.

There are numerous types of business consultants, and some examples include marketing consultants, sales consultants, human resources consultants, restaurant consultants, and business development consultants.

4. Executive consultants

Executive consultants are a smaller group of consultants, and they tend to charge the highest fees. Some examples of executive consultants are legal consultants, labor relations consultants, conflict resolution consultants, jury consultants, medical consultants, and other highly skilled and highly trained consultants.

For even more ideas for consulting ideas, check out this list of types of consultants.

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