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Posted by Susan Kershaw on 2015-01-21 09:26:00
Title: Hi There, After being restructured out a year ago from a broker in the Consumer Packaged Goods indu...
Category: Operations

Hi There, After being restructured out a year ago from a broker in the Consumer Packaged Goods industry and having little luck finding another job, I've decided to start a consulting business in the same industry. Something I've always wanted to do. I have an idea for a name and have updated my LinkedIn profile but that's as far as I've gotten. Can you please let me know what my next steps should be? Many thanks! Susan

Answer:

Sunil Godse
2015-01-29 09:31:00

Susan, great that you are taking a plunge in being a consultant. I have been doing that for over 20 years! The obvious upside of being a consultant is that you are independent and that you dont really answer to anyone but yourself. But there are a lot of hurdles you need to think about. There is going to be some investment needed in marketing such as business cards, a website (if required), costs related to networking such as attending events and putting miles on your vehicle. You also need to be able to articulate why your services are unique and what are the benefits to a client who pays you the rate you are asking. Your cash flow will yo yo as you take on clients and have cash coming in, and then need to spend time and money looking for clients which is a drain on cash. It will also take some time to establish yourself, create the network and then work the network to get a client. This means that you will need to have some upfront money to pay for your living expenses and the associated costs. It is a LOT of hard work, but once you establish a good reputation, things should begin to flow. Good luck.

Sunil Godse, President, Radical Solutions Group