Consulting does not have to be a full time business—it can be something you do on the side to enhance your home business, or to supplement your more traditional job and get started in some independent contracting work. If you are considering doing some consulting work, here are some things you might think through:
What kind of consulting do you have to offer and how do you stack up against the competition? If you have experience in a field that is already crowded with consultants in your community or region, it might be harder to break into consulting work. However, if you have a specialization, contacts, or experience that is valuable and where not too many people are already working, consulting work might be a perfect outlet for you. Like any other type of business enterprise, evaluate the market place prior to leaping in the waters.
What sort of contacts and leads do you already have? It is far easier to get started in consulting if you already have some leads, job offers, or great contacts. Starting from scratch is possible, but tough. Starting with one or two clients can give you the experience and a serious boost to your consulting career.
How much time and energy can you devote to your consulting work? If you have other work and will just be doing some consulting on the side, make sure you carefully consider the time commitment and draw up contracts to reflect exactly what you will and will not be doing. Setting firm boundaries around your time and the services you provide will not only protect your other business efforts, but it will also keep you from being taken advantage of by a client. If you are building a business that is dependent solely on consulting, you’ll want to make sure you take on enough work to make the business sufficient.
It might be difficult to estimate your time and worth as a consultant in the beginning, and you may be concerned about whether or not you have the temperament and organizational skills to make a success of a consulting business. Giving yourself the chance to try things out and ease into consulting work, while doing other work (either your home business or more traditional work) can help ease the shock of becoming a full time consultant.
See Also: Using Holidays to Promote Your Business and Does Your Home Business Really Suit Your Needs?