One of the most common oversights when starting a Consulting Firm is to not clearly outline your level of engagement in the business. Instead of starting a business and than seeing what it will take to become successful, design it with clear boundaries built in.
Start by deciding issues like employees, marketing, travel etc. Do not wait until you get your consulting business up and running and see how it goes. That mind set leads to you accepting any and all work that comes your way, no matter the inconvenience. I know that every business owner starts out telling themselves that they have to do whatever it takes, that they have to wear a dozen different hats, etc, etc.
When if fact that method of launching a new Coaching or Consulting Business is one of temporarily reaching in hopes that hard work leads to success. When in fact a successful business; is the result of specific design and consistent determination. So what would you put into a Business Plan that sets boundaries and leads to Business Success?
Here are 7 specifics;
1. No Employees – hire help only as you need them, only for as long as you need them.
2. Limited Phone – do not cold call, this is not a successful method to build a consulting business.
3. Create Consistent Income – with new business and residual income sources.
4. Low Overhead – work from home; tell my Clients that I do this. Brag about it, because you have achieved the all American dream.
5. Not tied to the Phone or Computer – have an online and an offline component to the business.
6. Flexible Hours and Travel – I do not want to have to be out of town all the time, I want to have flexible hours.
7. Long Weekends – I want to have long weekends by the pool sipping Rum and Coke.
So now that you have the boundaries set you can begin to build your Consulting or Coaching Business accordingly. Think of it this way if you could not build a business thatave you all of the above, why build it. I mean is not the reason you want to start a business to create a lifestyle like that described above?