DIGITAL JUICE GIVES BACK
Hello, my name is Nate Barnes, I wanted to share three things with the entrepreneurs and corporate hustlers thinking about starting a business. I realized there are many people working 9-5 that are looking for opportunity but are lacking the "research" to make that decision to jump into entrepreneurship.
Here's a quick bio of what I did before running my Consulting business;
Before running my business, I was a senior executive at Yelp. I helped small businesses grow and get new customers. I impacted many small business owners and understood business models while working there. I made about around 75k a year working there, it was great for me for being in my mid 20's. I'm 29 now yikes! haha So, I started to notice that many of my colleagues started branching off into starting their own business and I found myself saying "I can do it too". Fast forward a year, and I'm glad I made that decision to quit. What I realized, was the skills I used at Yelp are the same exact skills I needed to start my own consulting business.
Here are three things you need to know about starting a profitable Consulting business in today's fast-paced society.
- Misconceptions about starting up a consulting business
- You don't need credibility to become a consultant
- You don't need an office and high-tech equipment
- You don't need to charge by the hour
- You don't need a long complex consulting process to help people.
2. Select a Niche
You don't want to just be "freelance" or a "business consultant"
Niching up is the best way to bring more value to the table. Your potential customers know that you can specialize in one thing. For example, "helping Cosmetic Surgeons to get more Botox Clients". The value that you have to offer is more credible because you provide value in a space that makes the potential customer trust you more. When you niche up, people will come to you asking for advice, and you will also get more referrals.
- Find an industry you like and know.
- Find out what the challenges are, and also find the solutions
- Study the market and fully understand it.
- Take Massive action to be the best consultant for that niche
3. Right now is the best time to Start your Consulting business.
According to Forbes, the Consulting Industry will grow from 100 billion to about 183 billion dollar industry by 2018. Gary Vaynerchuk says it best, " You have to run your business like a media company." In today's society, the low entry to reach big networks is easy, you simply create a facebook and build a following, advertising on Facebook for pennies on the dollar, and use landing pages to funnel in prospects. Many tech companies have scaled at massive rates because of low operating cost and generated revenue at exponential rates. I chose to quit my job at a tech company to start paying myself to do exactly just that. My operating costs are about $500 dollars a month.
That's my schedule for the week. I took the leap and have left the rat race in less than a year! I'm not showing you my calendar to boast, I'm showing you this because I want to show you that it is possible with the right tools and methods to start a successful consulting business.
So quick recap, you don't need credentials or a name for yourself. You don't need an office or high tech equipment, you just need a laptop and a phone. Find your niche and understand your industry. Figure out the challenges and find the best solutions to have the best service in that niche
Right now is the best time to start up a consulting business. The industry will grow %83 percent by 2018 according to Forbes, meaning there is plenty of room for you to make some money.
I hope this article touches you and if you've considered entrepreneurship, I'd highly recommend to "just do it."
If you have any questions and want to pick my brain, set some time up to chat on the phone or in person! Click here to get access to schedule a free consultation.