Consulting Business

The Question: 

Dear Business Solutions, I am currently enrolled at Kaplan University for a degree in business.  I am in my second year now and my question to you is: do you think I can start an entrepreneurial consulting business with the knowledge I have gained so far or should I wait until I have a degree first.  I have experience with employee surveys, marketing, customer service plan implementation, and image building from the past two years and I would only take on assignments that I am 100% sure I am capable of handling.  Is this the proper thing to do in my situation?  Signed, Icon Consulting.

Our Response: 

Dear Icon Consulting, Yes.  Your primary responsibility as a consultant is to operate in an ethical manner.  Ethics require that you do not misrepresent yourself and that you perform work in a professional manner to the satisfaction of the client.  It sounds like you are committed to doing this so there is no reason why you should not employ the skills that you have.

Remember what a degree is and is not.  A degree is a credential that indicates that a person has a minimum set of knowledge and has demonstrated the ability to learn.  It may be a basic requirement for many jobs but certainly not all. A degree is not a magical event that grants powers to the holder. 

Your real education comes outside the classroom in the application of knowledge and skill in the real world.  The more of this education you can gain, the better off you will be.  Do as much of this as you can.

Every time someone asks me about starting a consulting business I refer them to the book: “Flawless Consulting” by Peter Block. 

If you follow his precepts, you will find it hard to go wrong.  Don’t start you business without owning a copy and reading it thoroughly several times.

The other book that I highly recommend is "High Impact Consulting" by Robert H. Schaffer.  If you use his principles you have the chance to make a significant difference for every client.  His principles can mean the difference between typical consulting that may or may not make a difference and consulting that will please both the consultant and the client.

You will need at least two things to get established as a consultant 1) skills and a product format to deliver those skills and 2) a customer base.  Of course you will also need credibility that usually is demonstrated in the form of measurable accomplishments - a track record.  The customary approaches to becoming established are: 1) work for an established consulting firm and develop skills and a track record and 2) work in industry.  It is very difficult to start as an independent practitioner without either of these foundations.  Even the best practitioners often fail to achieve their goals because they underestimate the difficulty, time and expense of marketing and selling their services.

Good luck with your consulting business.

Steven C. Martin
Business Solutions – The Positive Way