Dreaming of working solo? If you have industry expertise and drive, you absolutely can.
Whether you’re looking for work or planning a career change, there are plenty of reasons to consider becoming a self-employed business consultant or freelance business advisor.
A business consultant freelance career could be a good choice, with the average national salary1 being nearly $80,000. Freelance business consultant jobs also can offer work and scheduling flexibility, and help you strike a better work-life balance.
If you’re wondering how to become a freelance consultant, we’re here to help.
Here are a few steps to start with:
Step 1: Find your niche.
A few years working in the industry can be helpful before going solo. Clients want to know you can make recommendations based on experience. It also can help you find your niche.
Your specialty could help you find freelance business consultant jobs. Pick an area you’ve already worked in, you like, and are interested in pursuing. Some industry niches include:
- Licensing consultant
- Law consultant
- IT consultant
And the list goes on. Demonstrate your experience solving problems in your industry, and consider building a website that showcases your experience and successes.
Step 2: Protect your business early.
Roughly 43% of small business owners2 say they’ve been threatened with lawsuits. If you work in freelance business development, a client could accuse you of negligence if you make an honest mistake or if they’re unhappy with your work. You may have to hire a lawyer to defend yourself.
Imagine you’re a business marketing consultant. You create a communication plan for a high-profile client. After executing your plan, the client unexpectedly loses revenue and blames you for the outcome.
You could be stuck paying for damages and legal fees.
Getting business insurance ahead of time can offer financial protection in the event of a lawsuit, up to your policy limits. For business consultants, we recommend general liability, professional liability, workers’ compensation, and cyber.
Finding coverage is easy with our quote comparison tool. Answer a few questions and we’ll have policy options ready in minutes.
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Step 3: Define your format and style.
As a consultant, you have the freedom to choose your business model. Here are some formats I’ve seen for freelance business consultant jobs:
Onsite meetings. Sometimes making the best recommendation requires going onsite to ask questions and observe. If so, try proposing one-off or recurring in-person meetings — whatever works for you and the client.
One-on-one consulting. When business leaders need guidance, some consultants offer one-on-one services. A law consultant, for example, may prefer one-on-one meetings to provide legal counsel so they can ask specific questions to facilitate their work.
Group coaching. Other consultants offer group coaching to teams. If, for instance, you offer HR consultation services, you can counsel a management team on hiring, benefits, and compliance.
Online programs. Creating an online program, depending on your industry, could be a profitable source of passive income. An image consultant, for example, could create a course to help businesses with public relations. However, the online training market is crowded. If you’re just starting out, consider offering online training as a buy-up to existing clients.
Step 4: Write a business plan.
For your business consultant freelance career to succeed, it’s a good idea to practice what you preach and create a business plan.
Start by thinking through the following questions:
- Who are my target customers? What are their industries?
- What is their primary market need?
- How will I charge for my services?
- Who are my competitors? What are their strengths and weaknesses?
- What is my unique selling point?
- How will I market myself? Will I use social media, a website, Google AdWords, networking, and/or something else?
Hashing out these details will help you rein in your focus and land the freelance business consultant jobs you want.
Step 5: Tackle the admin.
Organizing administrative duties early is generally a good idea. As a self-employed business consultant, you want to be as organized as possible, especially when it comes to finances and communications.
Disorganization can mean losing valuable time searching for receipts and paperwork. Wondering how to start a consulting business without the chaos? Here are some tips:
Use invoicing software. It can help you track your expenses, income, and time spent on a job. Try Freshbooks or Quickbooks to track invoices from freelance business consultant jobs. Check out our guide to getting paid and free downloadable invoice template to learn more about invoicing.
Address your email inbox. Email can be a full-time job. Set aside time each day to keep up with communication, especially to clients. If you go too long without responding, you might risk losing business.
Try project management software. I’ve used Asana and Trello, two free or low-cost software project management programs. They help keep track of deadlines, which is especially helpful when juggling multiple clients.
Ask an expert if needed. Sometimes, outsourcing is more efficient, especially for bookkeeping and other day-to-day duties. It depends on your skill level, how much time you have, and your budget.
You’re in Business
Following these steps should help you on your way to building your business. Still trying to land your first freelance business consultant jobs? Try revisiting your business plan.Determine what’s working and what isn’t. Chances are that pricing, marketing, or communications may be off.
Remember: Learning how to start a consulting business is one thing. Actually doing it is another, and it takes dedication. Keep at it, learn from your mistakes, and pivot when needed — you’ll finally be on the right track.
References:
- Learn more at payscale.com/research/US/Job=Business_Consultant/Salary
- Learn more at score.org/seminnesota/resource/article/your-small-business-prepared-a-lawsuit