Resources for launching a personal consulting business
September 27, 2013 12:32 PM Subscribe
I've decided to quit my corporate job and try my hand at launching a personal consulting business. What are some excellent resources that cover all manner of logistical necessities in this domain?
For example, I am looking for practical guidance on how to set rates, bill projects, etc..., especially when one is just starting out in this endeavor. I am fairly confident about my skill set, target market, and there being actual demand. I just want really explicit advice on how to conduct the business side of things.
For example, I am looking for practical guidance on how to set rates, bill projects, etc..., especially when one is just starting out in this endeavor. I am fairly confident about my skill set, target market, and there being actual demand. I just want really explicit advice on how to conduct the business side of things.
I'm a fan of David Maister's work, particularly Managing the Professional Service Firm.
posted by carmicha at 2:43 PM on September 27, 2013 [1 favorite]
posted by carmicha at 2:43 PM on September 27, 2013 [1 favorite]
Take a look at this similar thread which has lots of good answers.
posted by ridogi at 8:33 AM on September 28, 2013
posted by ridogi at 8:33 AM on September 28, 2013
There are good books at Nolo Press about the tax & legal side of things.
I've forgotten what resources I used when I started, but one lesson I wish I had learned earlier is this: From the start, consider how you're going to make your services scalable. Trading your time for money puts a ceiling on your income because you can work only so many hours and charge only so much.
So as you work with clients, keep an eye out for ideas for books, membership sites, subscription information, software, courses, or whatever else you can create to sell more passively and with less of a connection to your time.
You might also do some research into "value based pricing" and strongly consider using project-based fees rather than hourly.
Good luck!
posted by ceiba at 7:17 PM on September 28, 2013
I've forgotten what resources I used when I started, but one lesson I wish I had learned earlier is this: From the start, consider how you're going to make your services scalable. Trading your time for money puts a ceiling on your income because you can work only so many hours and charge only so much.
So as you work with clients, keep an eye out for ideas for books, membership sites, subscription information, software, courses, or whatever else you can create to sell more passively and with less of a connection to your time.
You might also do some research into "value based pricing" and strongly consider using project-based fees rather than hourly.
Good luck!
posted by ceiba at 7:17 PM on September 28, 2013
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For example, the nature of your business - and, by extension, your customers - could easily have a significant impact on:
- The rates you charge
- Whether you charge by the hour or by the project
- Whether you require a deposit, or retainer, up front
- Whether your work is such that (as with advertising or design, for example) you have to show some of what you might do for a specific customer with little or no expectation of getting that customer's business
posted by John Borrowman at 2:32 PM on September 27, 2013