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The Everything Start Your Own Consulting Business Book: Expert, step-by-step advice for a successful and profitable career [NOOK Book]

Overview

Consultants work in all fields. They operate from offices and from home, work for investment firms and as personal trainers, or have expertise as accountants and wedding planners. The independence, flexibility, and potential income it brings make for an exciting and satisfying career. And it's an increasingly popular one for highly skilled, motivated professionals who've been laid off in this unstable economy....
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The Everything Start Your Own Consulting Business Book: Expert, step-by-step advice for a successful and profitable career

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Overview

Consultants work in all fields. They operate from offices and from home, work for investment firms and as personal trainers, or have expertise as accountants and wedding planners. The independence, flexibility, and potential income it brings make for an exciting and satisfying career. And it's an increasingly popular one for highly skilled, motivated professionals who've been laid off in this unstable economy.

This guide features tips and tricks to help beat the competition, including how to:

  • Set-and keep-personal and financial goals
  • Organize important paperwork
  • Price and market specific services
  • Create advertising and publicity plans
  • Grow a business, from finding a partner to managing employees
  • Minimize and eliminate business risks
Consultants are paid well for their advice-if they know how to operate a successful business. With advice from experts in a variety of areas, this valuable guide helps you create the business of your dreams!
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Product Details

  • ISBN-13: 9781605509914
  • Publisher: F+W Media
  • Publication date: 10/18/2009
  • Series: Everything
  • Sold by: Barnes & Noble
  • Format: eBook
  • Pages: 304
  • Sales rank: 1,297,678
  • File size: 2 MB

Meet the Author


Dan Ramsey (Northern CA) is the author of more than two dozen introductory and startup business book. Past president of Ramsey Business Strategies, he worked with numerous small businesses as a consultant on effective management techniques. He is the author of The Upstart Guide to Owning and Managing a Consulting Service, 101 Best Home Businesses, and other business guides. His latest titles are The Everything Guide to Starting and Running a Retail Store, The Everything Sales Book, and The Everything® Business Plan Book with CD.
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Table of Contents

Top 10 Things Every Successful Consultant Must Know x

Introduction xi

01 Opportunities for Consultants 1

The Life of Consultants 2

Consulting in the Information Age 8

Primary Consulting Services 9

Add-On Products and Services 11

Selecting Your Field of Expertise 12

How Much Will You Earn? 13

Making the Leap 15

02 What Consultants Do 17

The World of Consultants 18

Developing Expertise 20

Developing Resources 22

Developing Contacts 23

Adding Value 24

The Consulting Processp25

Minimizing Risk 28

The Market for Consulting Services 30

03 Consulting Requirements 31

Your Personal Goals 32

Your Personal Values 33

Your Financial Goals 36

Risk Tolerance 37

Licensing Requirements 40

Tools and Equipment for Consulting 42

Protecting Primary Resources 45

04 Setting Up Your Consulting Service 47

Naming Your Business 48

Structuring Your Business 50

Calculating Financial Requirements 53

Choosing Your Office 55

Setting Your Hours 57

Advanced Time Management 59

05 Resources for Consultants 61

Analyzing Your Knowledge 62

Expanding Your Credentials 64

Knowledge Resources 65

Consulting Service Opportunities 68

Small Business Administration Resources 69

Tax Information Resources 71

06 Identifying Your Clients 73

Who Are Your Clients? 74

What Do They Need? 75

Types of Businesses 77

Finding Clients 78

Features and Benefits 81

07 Writing Your Business Plan 85

Executive Summary 86

Present Situation and Objectives 87

Service Description 90

Market Analysis 90

Clients 92

Competition 94

Marketing Strategy 95

Pricing and Profitability 96

Financial Statements|98

08 Getting Help 101

Hiring an Accountant102

Hiring an Attorney 104

Hiring an Insurance Professional 105

Finding a Partner 106

Limited Liability Company 109

Starting a Corporation 110

Finding Funding 112

09 Managing Costs 117

Estimating Your Operating Costs 118

Budgeting Operating Costs 120

Managing the Value of Your Business 122

Reducing Operating Costs 123

Managing Taxes 125

10 Keeping Good Records 129

Your Recordkeeping Systems 130

Single versus Double Entry 134

Invoicing 135

Managing Equipment Records 137

Managing Petty Cash 138

Online Banking 138

11 Pricing Your Services 141

Service Pricing Basics 142

Calculating Service Costs 144

Value Pricing 145

Pricing Analysis 147

Margins and Discounts 151

Developing Your Rate Sheet 153

12 Marketing Your Services 157

Marketing 101 158

Defining Clients 160

Finding Prospects 161

Market Analysis 164

Market Strategy 166

Positioning 168

13 Advertising and Publicity 171

Word of Mouth Isn't Enough 172

Advertising 101 173

Promoting Your Consulting Business 175

Publicity Opportunities 181

Client Referrals 183

14 Working by Priority 185

Importance of Priorities 186

Setting Your Goals 188

Prioritizing Goals 190

Keeping Score 191

Revising Goals 194

Scheduling for Success 194

Advanced Time Management Tips 197

15 Profitability 199

Understanding Profit and Loss 200

Increasing Profitability 202

Improving Client Profitability 203

Cash Flow 205

16 Financial Records 211

Tracking Income and Expenses 212

Your Income Statement 214

Your Balance Sheet 215

Improving Cash Flow 216

Managing Loan Interest 217

Offering Credit to Clients 218

Improving Financial Planning 219

17 Growing Your Business 223

The Challenges of Growth 224

Growing in the Right Direction 226

Solving Common Business Problems 227

Selecting the Best Solution 230

Dealing with Business Cycles 232

Locating Reducible Expenses 233

Reducing Overhead 235

Growth Plans 237

18 Managing Employees 239

Hiring Good Employees 240

Employee Benefits 243

Selecting the Right Plan 247

Hiring Temporary Help 248

Managing Payroll Records 250

Employee Appraisals 252

19 Managing Business Risk 255

Understanding Risk 256

Degrees of Risk 257

Minimizing Risk 260

Risk Management 262

Business Insurance 264

20 The Future of Your Consulting Business 267

Enjoy What You Do 268

Keeping Your Life 270

Measuring Success 271

Avoiding Consultant Burnout 273

Taking a Break 274

Selling Your Consulting Business 275

Consulting Business Glossary 281

Index 289

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