Starting a Consulting Business from Scratch: Expert Tips

Name: Starting a Consulting Business from Scratch: Expert Tips
Uploaded: 2023-07-06 03:06:11
Description: To start a consulting business, it is important to find your passion, master your craft, provide valuable advice, offer discounted or free services to build confidence, and actively reach out to potential clients.

This article is a summary of a YouTube video "How To Start A Consulting Business From Scratch" by Foundr Magazine - Entrepreneur & Business Magazine

TLDR To start a consulting business, it is important to find your passion, master your craft, provide valuable advice, offer discounted or free services to build confidence, and actively reach out to potential clients.

Key insights

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Starting a consultancy business solely for the purpose of making money will quickly become unfulfilling, so it's important to be passionate about the work you're doing.
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Being knowledgeable and skilled in your area of expertise is crucial in order to effectively help clients and achieve the desired outcomes as a consultant.
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Facebook groups can serve as a valuable platform for consultants to connect with potential clients and offer solutions to their specific needs.
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Start by providing valuable advice to people in need before asking for payment, building goodwill in the community you want to serve.
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Providing valuable advice in a public forum not only helps the person asking the question, but also benefits others who may be experiencing the same problem.
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Charging a fee for your services not only demonstrates value to clients but also boosts your confidence, allowing you to command higher fees in the future.
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Building a portfolio of successful work and showing a track record of helping people solve problems is crucial for establishing yourself as a consultant.
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Building a website and running ads should be done after establishing a client base through one-on-one communication, as it helps automate the process of attracting clients and receiving inquiries.

Timestamped Summary

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00:00
Find your passion and what you naturally gravitate towards in order to start a consulting business, as being passionate about it is crucial for long-term success.
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01:28
Master your craft by reading, watching videos, and taking courses to become knowledgeable enough to help clients in your area of expertise as a consultant.
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02:16
To start a consulting business with limited funds, join relevant Facebook groups where potential clients are seeking help with their problems.
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02:56
Provide valuable advice to people seeking help in online communities like Facebook groups, forums, and Reddit to build goodwill and establish potential paid relationships.
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03:42
Provide valuable advice in public forums to help not only the person asking the question but also others who may have the same problem, in order to leverage the network effect and build a one-on-one relationship.
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04:25
When starting a consulting business from scratch, consider offering services at a discounted rate or doing free work in exchange for testimonials to build confidence and eventually command higher fees.
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05:24
To start a consulting business, you need to reach out to 10-15 people a day, demonstrate that you can help them achieve their goals, and build a portfolio of successful projects.
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06:44
Start by doing manual outreach and communication to get clients, then once you have some clients, build a landing page and website and start running ads to automate the process of attracting clients.