What will I learn about: how to successfully launch your consulting business by saving a dedicated fund to sustain yourself through the critical first six to twelve months?

Discover how to successfully launch your consulting business by saving a dedicated fund to sustain yourself through the critical first six to twelve months.

What will I learn about: time management and lighten your initial workload by strictly prioritizing daily tasks and delegating projects that require skills you lack?

Master time management and lighten your initial workload by strictly prioritizing daily tasks and delegating projects that require skills you lack.

What will I learn about: Evaluate the pros and cons of different workspace options, from home setups to shared offices, and learn what essential equipment you must budget for?

Evaluate the pros and cons of different workspace options, from home setups to shared offices, and learn what essential equipment you must budget for.

What will I learn about: legally minimize your initial tax burden by structuring your new business as an S corporation to avoid double taxation?

Learn how to legally minimize your initial tax burden by structuring your new business as an S corporation to avoid double taxation.

What will I learn about: how to attract inbound clients instead of cold-calling by crafting a professional press kit and networking with key industry influencers?

Understand how to attract inbound clients instead of cold-calling by crafting a professional press kit and networking with key industry influencers.

Getting Started in Consulting

Get a Head Start in the Lucrative Consultancy Business

Alan Weiss

★ 3.6 / 5(49 ratings)

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Categories:

Management & Leadership

If You're Curious About These Questions...

You should listen to this audiobook

💡Did you know that traditional hourly billing might be the single biggest obstacle to growing a truly profitable consulting practice?
💡Have you ever wondered why some consultants command premium fees while others struggle to find their next client?
💡What if you could master the dual art of marketing and delivery so your business thrives even when you're busy with projects?

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Key Takeaways from Getting Started in Consulting

✓Discover how to successfully launch your consulting business by saving a dedicated fund to sustain yourself through the critical first six to twelve months.
✓Master time management and lighten your initial workload by strictly prioritizing daily tasks and delegating projects that require skills you lack.
✓Evaluate the pros and cons of different workspace options, from home setups to shared offices, and learn what essential equipment you must budget for.
✓Learn how to legally minimize your initial tax burden by structuring your new business as an S corporation to avoid double taxation.
✓Understand how to attract inbound clients instead of cold-calling by crafting a professional press kit and networking with key industry influencers.

Learning Tools

Reinforce what you learned from Getting Started in Consulting

Mind Map

Getting Started in Consulting

Preparation & Planning+

Workspace & Equipment+

Legal & Administration+

Marketing & Networking+

Branding & Media+

Proposals & Closing+

Setting Fees+

Long-Term Growth+

Quiz — Test Your Understanding

Question 1 of 8

According to the text, how much financial runway should a new consultant secure before fully launching their business?

A. One to three months of living expenses
B. Six to twelve months of funds to keep afloat
C. Eighteen to twenty-four months of corporate backing
D. Only enough to cover the initial equipment costs

Question 2 of 8

Why does the author recommend initially registering a consulting business as an S corporation?

A. It allows you to issue public stock to raise capital easily.
B. It prevents you from being taxed twice, as you are only taxed on your income from the business.
C. It provides the highest level of liability protection against client lawsuits.
D. It allows you to hire employees without having to pay payroll taxes.

Question 3 of 8

What is the author's primary rule regarding doing pro bono (free) work for marketing purposes?

A. It should be offered to first-time corporate clients as a trial to prove your value.
B. It should only be done for friends and family members to build a portfolio.
C. It should be avoided entirely because it devalues your professional expertise.
D. It should only be done for non-profit organizations to help build a word-of-mouth reputation.

Question 4 of 8

How should a consultant design their 'credibility website' to attract clients?

A. It should be heavily populated with special offers and promotional discounts.
B. It should function primarily as an online store where clients can add consulting packages to a cart.
C. It should be sleek, serious, and avoid special offers, acting as a professional overview of your services.
D. It should focus primarily on hosting a daily blog and interactive social media feeds.

Question 5 of 8

During a proposal meeting, what should a consultant do if a client asks for a reduction in fees?

A. Refuse entirely to maintain the premium credibility of the brand.
B. Accept the reduction only if there is a corresponding reduction in the value or scope of the services provided.
C. Accept the reduction immediately if it guarantees the client will sign a multi-year contract.
D. Match the closest competitor's lowest price to ensure the deal is closed.

Question 6 of 8

Which of the following describes the author's recommended approach to setting consulting fees?

A. Track billable hours and charge a competitive hourly rate.
B. Charge an upfront fee based on your expertise rather than your labor hours.
C. Agree to be paid only on the condition that the project is completed satisfactorily.
D. Calculate the exact financial return the client will receive and take a 20% cut.

Question 7 of 8

What is one of the key indicators that a consulting business has become successful after its first three years?

A. Active solicitation and cold-calling account for the vast majority of new business.
B. The consultant has upgraded from a home office to an expensive formal office space.
C. Returning clients constitute about 75 percent of the business.
D. The consultant must provide 24/7 attention to the practice to keep it running.

Question 8 of 8

What is the recommended follow-up strategy if a buyer does not initially respond to your submitted proposal?

A. Call them twice a day until they answer or explicitly reject the proposal.
B. Send a final letter immediately withdrawing the proposal to show your time is valuable.
C. Call once a day for three days, send a letter at one week, and send a 30-day validity letter at two weeks.
D. Offer a 10% discount every week via email until they agree to a follow-up meeting.

Getting Started in Consulting — Full Chapter Overview

1Recommendation
21 — Start your consulting journey well with saving and planning.
32 — To set up your firm, you’ll need an effective work environment.
43 — Resolving legal and organizational issues is essential to establishing your business.
54 — To attract clients, you need to network, market yourself, and even work for free.
65 — Strong branding means bringing your voice online and into the media.
76 — Close client deals by being perceptive, patient, and flexible.
87 — Set your fees based on your expertise, not your hours or results.
98 — Once your consultancy is established, you can begin growing your business and yourself.
109 — Final summary

Getting Started in Consulting Summary & Overview

Getting Started in Consulting (2009) is the go-to guidebook for budding consultants. From finding your footing and learning about legal matters to mastering the dual art of marketing and branding, these blinks outline every step on your journey to building a strong consultancy firm – and maintaining it, too.

Who Should Listen to Getting Started in Consulting?

Experts interested in a lucrative career change
New consultants seeking time-tested advice
Established consultants looking to polish their skills

About the Author: Alan Weiss

Alan Weiss is the founder of Summit Consulting Group and has penned more than 50 books, including Getting Started in Consulting and Million Dollar Referrals. In addition to being named among the National Speaker Association’s top one percent of the world’s best public speakers, he has also consulted for innumerable companies, consistently earning more than $1 million per year.

[Alan Weiss: Getting Started in Consulting] copyright [2009], John Wiley & Sons [Inc. or Ltd. as applicable] Used by permission of John Wiley & Sons [Inc. or Ltd. as applicable] and shall not be made available to any unauthorized third parties.

Getting Started in Consulting

If You're Curious About These Questions...

Listen to Getting Started in Consulting — Free Audiobook

Key Takeaways from Getting Started in Consulting

Learning Tools

Mind Map

Quiz — Test Your Understanding

Getting Started in Consulting — Full Chapter Overview

Getting Started in Consulting Summary & Overview

Who Should Listen to Getting Started in Consulting?

About the Author: Alan Weiss

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