It can be rewarding to run your own consulting business, but you must realize that the actual consulting portion of the work is but a small component of running the business itself. Activities like marketing, selling, contracting, and administering the business are critically important, and will consume a great deal of time and effort.
- A lot of my friends who work in corporate jobs tell me, "Someday I want to do what you do." I ask them what do you think I do? They say, "Well, you speak and teach and get paid for it, "and that looks like a lot of fun." I tell them it is, but it's only 10% of what I actually do. Let me tell you about the other 90%. I then share all the topics I'll be covering in this course. It can be rewarding to run your own consulting business, but you must realize that the actual consulting portion of the work is but a small component of running the business itself.
Activities like marketing, selling, contracting, and administering the business are critically important and will consume a great deal of time and effort. Subjects I've covered in other courses include things like writing a business plan which helps you build a solid business, solving business problems which offers a classic consulting method for understanding problems and generating solutions, getting ideas approved covers how to craft compelling recommendations that your clients will support, and building high performance teams will give you ideas on how to create a team whose work you'll be proud of.
I offer these as suggested resources to help you build your consulting firm. Throughout this course I'll use examples from running my own consulting firm for going on 15 years, having worked at a major consulting firm, and from consulting firms run by friends, colleagues, and clients. This will give you a sense for the wide variety of consulting practices available and help you understand how the principles in this course apply to different business models.
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- Identify types of consulting business models.
- Describe revenue models.
- Explain how to estimate and manage costs.
- Price services using pricing strategies.
- Explain how to negotiate deals with clients.
- List effects of responding to RFPs.
- Identify the phases of constructing a consulting engagement.
- Present findings and implement recommendations.
- Describe different ways to manage legal issues.