How Does One Start Their Own Business Consultancy Firm?

There are numerous consulting roles in dozens of industries with different vocations where you could offer your expertise. Whether you are looking for a side income or planning on it being your full-time job, it is a lucrative business.

Having your consultancy firm allows you to be your own boss and work at your desired timings, target the industry you have experience in, and tackle diverse challenges for the job not to become mundane.

What is Consulting?

Consultants are those people who help their clients find solutions for their company’s urgent problems, issues, or projects. The consultant, along with the business owner, analyses information and identifies the best path for the company’s success.

Consultants can be brought in full-time for a specific period of time to solve mammoth problems, or they may work with multiple companies at a time. It all depends on the issues the consultant has at hand and trying to tackle. Consultants basically sell your insight and years of experience as a service to other businesses.
Here are a few different types of consulting jobs.


Strategy consulting

Strategic consultants are adept at upper-level decision-making required to improve a business. This job covers mostly all aspects of a company and is a broad role that can fit various sectors. Prerequisites for a consultant vary depending upon the task at hand. Though an MBA or Commerce background is a great starting point, over five years of experience is the cherry on the cake in this field.

Strategy consulting

Marketing consulting

There are many areas in the field of marketing that are often unintentionally ignored by business owners. Marketing consultants help you develop new strategies to target and convert your audiences better. You only require prior marketing experience to ace this job.

Marketing consulting

Financial consulting

This one is the most sought-after service by businesses. Financial consultants are hired to improve profits and to restructure and maximize the company’s bottom line. Often, businesses do not feel the need to hire a full-time finance manager, and in such a scenario, a financial consultant comes to their rescue to set them on the right path.

HR consulting

Training and development, maintaining employee satisfaction, and conflict resolution are some of the tasks Human resources consultants are assigned. Sometimes these consultants are brought on board to hire new talents.

HR consulting

In conclusion

If you are in sixes and sevens about the type of consulting you should pursue, first identify your interests and strengths. Make sure that you have commercial awareness in your area of choice, clear communication in the jargon of your industry, and in-depth knowledge of the industry to understand every stage of the business.

About Joseph Doster