You know it. And you know you know it. So take your consulting business homeward, and go pro. I have, and my only regret is that I didn’t do it sooner.
There are slews of reasons why going pro with your consulting business at home is simply a great idea. For instance …
(1) A Home Consulting Business Can Be A Quick Starter
A few years ago I started a business as an online coach. I helped people set up money making websites of their own. Within 48 hours of the site going live, I had my first $3,000 contract.
Granted, getting started that quickly is rare. But it is a possibility. For most brick and mortar businesses, it isn’t even a remote possibility.
It is, at any rate, one of the faster starting home businesses. You already have the knowledge, or you wouldn’t be doing consulting. So all you need be concerned about is setting up your office and getting the word out. With good planning, that can happen very quickly.
(2) A Home Consulting Business Can Be A Big Money Maker
That $3,000 contract I noted above was just the beginning. I literally had as much business as I could handle, and then some. I finally had to restrict the number of new clients I could take each month.
Again, it doesn’t always happen like this. I was coaching people who had a real definable financial goal in mind, one that I knew I could help them reach.
Someone working with large corporations, perhaps coaching the sales team, could no doubt do a whole lot better.
And someone working solely with retirees would likely make less.
Depending on your skill set and background, this can be a big winner.
(3) Home Consulting Businesses Are A Great Way To Build Your Business
Suppose you have been consulting with small businesses and are ready to strike out on your own. Setting up a brick and mortar business gets expensive, and risky, very quickly. There are zillions of expenses, like
- Leases, with first, last and security deposits;
- Insurance costs for the property as well as professional insurance;
- Advertising in local publications;
- Build out of your new facility;
- Accommodation for prospective new hires in your new facility;
- Building codes to follow;
- Employee codes to follow;
- Telephone systems to establish;
- Internet systems to establish …
… well, you get the idea.
Now imagine converting a back room at your home into your office. How much easier does the whole thing become? Breathe a sigh of relief. Now you can focus on business instead of on the workplace.
Cutting gobs of expenses also means that you can price your services very competitively.
And you can grow that business at your own pace.
(4) A Home Consulting Business Eliminates Most Employees
This is a huge difference between a brick and mortar business and a home based business. Use contractors, not employees every chance you get.
Sure, you can still grow as big as you want to. And you may end up with some employees. But contract out every single service that you can. Using contractors allows you to buy just those services you need, and to switch service providers at will. It is a great way to run a business.
Remember, you are essentially a contractor too. You work hard to provide excellent service, and you likely make a decent living doing it. The contractors you hire will be in exactly the same boat as you, and you are all rowing in the same direction.
(5) Your Home Consulting Business Provides The Kind Of Flexibility That Just Isn’t Possible Otherwise
This morning was a gorgeous spring day, one of the first after a cold winter. And, yes, I took the morning off and went hiking among wild flowers. And that is why I am working now, at 10:00 pm, but hey, that’s my choice.
“It’s my choice”. That is the crux of your home based consulting business. There are times I worked 18 hours a day, and times I didn’t even work 18 hours a week. It was my choice.
Spend time with your family. Take care of whatever it is that needs to be taken care of in your life. Schedule your business around your life, not the other way around. Even in businesses that are essentially 9 to 5 kinds of businesses, there are still tasks that can be put off until you want to do them, like all those bookkeeping chores and report drafts. And with modern communication tools, you can stay in touch as closely as you choose to.
There is simply a freedom that no “job” offers. I personally wouldn’t trade it for any job I can think of.
Consulting Businesses That “Work” As Home Businesses
Actually, I cannot think of a consulting business that doesn’t work as a home based business. With our access to phone services, conference calling, fax services, emailing, and all the other technologies out there, most clients won’t even know you are working from home unless you tell them. Should you get a mail service, they will likely assume you are contacting them from that address.
The only time you may hit a glitch is if you need to see clients at home, and your home locale or presentation doesn’t meet their expectations. A CPA working in a $300 per month one room apartment just won’t sit well with most clients. But if you can meet clients at their place of business, or use a shared office facility from time to time, even that obstacle can be overcome.
The Best Home Consulting Businesses
So what business tend to be the most successful online home based businesses? Well, there are a lot. The key is being able to find your customer, and work with her, online. Here are a few suggestions:
- Architectural designs
- Health coach
- Yoga instructor
- Virtual assistant
- Legal, both unique specialties and small business
- FaceBook ads pro
- Language coach for business people
- Web designer for specialty niche
- Annual report writer
- Writer of instruction books for all manner of technical items
… and sooo many others. If you can think of it, odds are that you can do it.
So what are you waiting for? Start planning now. Give it some solid thought, work through any issues you’ve got, then go for it.
Got questions? Do jot them below. I’d be glad to share whatever I have learned over the past decade.