• Home
  • About
  • Contact

The Phat Startup

The Ultimate Lifestyle Blog for Entrepreneurs

  • Blog
  • Blogger Lifestyle
  • Money & Finance
  • Motivation
  • Personal Growth

Personal Growth

How to Start a Consulting Business from Home

Starting a consulting business isn’t easy, but it can be very rewarding if you do it the right way. Once your business is successful, you’ll be able to enjoy the freedom that comes with working from home while also enjoying the benefits of being a consultant. Before you start a consulting business from home, you’ll need to take a few things into consideration.

The Specialty

When you’re thinking of starting a consulting business from home, the chances are you’ve already figured out what you’re good at and want to help other people do the same.

If you are already working as a consultant for someone else, consider the first step completed! You already have the experience and know-how to consult in your chosen niche. Otherwise, you’ll need to determine which type of consulting best fits your experience.

Consulting comes in many forms, but the most popular niches are business consulting, accounting, financial advisor, career consulting and insurance consulting.

You may also become a consultant in a less formal niche. If you know a lot about crafting, gardening, cooking or other creative subjects, these may be consulting options for you to consider.

Your Clients

The number one thing you can do to increase your chances of a successful at-home consulting business is networking. Since you’re a consultant, clients are the lifeblood of your business. They determine how much work you’ll do, what you’ll get paid for the work and whether you’re able to continue offering your services.

Clients can be found in many places. You will need to determine whether you’re going to do online or offline networking and have a plan in place for it. Set goals for yourself for getting new customers. Start small and try to obtain one new customer per week. Then, grow your consulting business.

If you’re of the belief that customers are not always right, it’s time to change your mindset. Now that you’re going to start a consulting business from home, your customers are the most important thing. Treat them as if they’re always right.

A happy customer will tell their friends about you and you can get a lot of business from referrals. An unhappy customer will tell twice as many people about you and you can lose a lot of business from a bad reputation.

A Space to Work

If you think you can set up your 2003 iMac at your kitchen table and invite your clients into your living room for consultations, think again. You’re going to need a dedicated space for your consulting business in your home. Ideally, you will want a room separate from the rest of the house that has it’s own entrance. If you’re unable to do that, a home office is a great idea.

While you can do the majority of your business remotely and without having to interact with clients face-to-face, have a plan in place if you do have to have a meeting. If you have a home office space you’re uncomfortable meeting clients in, consider renting a coworking space!

The Legalities

The legalities of a consulting business are important. If you are just getting started, it may be a good idea to talk with a consulting mentor (a consulting…consultant, if you will) about the legalities in your area.

You will also need the advice of a small business attorney to help you apply for business licenses and make sure your home business is legitimate. While many people skip this step and choose to do their business “under the table,” this is not the way you want to start out. You could end up paying much more in fines than you would by just hiring an attorney in the first place.

It may also be a good idea to set up a small business accountant. The accountant can help you determine what you can deduct from your business and what type of taxes you’re liable for depending on your small business. They can also help you understand financial terms you may not be well versed on.

If you think you have what it takes to start a consulting business from home, make sure you take each of these things into consideration. Your business depends on it. If you make sure your business is legitimate, you grow your customer base and you are an excellent consultant, your earning opportunities are almost limitless!

Join the discussion on this topic with The Phat Startup by visiting our contact page.


« Money Back Guarantee Reasons to Outsource Payroll
Getting Into Data Business: What’s the Difference between Data Warehouse Vs Database »

About The Phat Startup

The Phat Startup was created by Mike McOwen to create a space where entrepreneur lifestyle could be focused on. We tend to live a different lifestyle than most. Entrepreneurs tend to be interested in maximizing their life, not only their profit.

Connect With Me

  • Email
  • RSS
  • Twitter
  • YouTube

Twitter Feed

Mike McOwenFollow

Mike McOwen
PhatStartupsMike McOwen@PhatStartups·
29 Dec 2017

Why is content marketing so important? Find out here: http://thephatstartup.com/money-finance/why-your-business-needs-a-content-marketing-strategy-in-2018/

Reply on Twitter 946751505146707968Retweet on Twitter 946751505146707968Like on Twitter 9467515051467079681Twitter 946751505146707968
PhatStartupsMike McOwen@PhatStartups·
9 Oct 2017

http://yescincinnati.com/

Reply on Twitter 917521630162759681Retweet on Twitter 917521630162759681Like on Twitter 9175216301627596811Twitter 917521630162759681
PhatStartupsMike McOwen@PhatStartups·
25 Sep 2017

Wow, interesting

Forbes@Forbes

Millennial men are more likely than women to default on student debt http://on.forbes.com/60148NudC

Reply on Twitter 912458136849698816Retweet on Twitter 912458136849698816Like on Twitter 9124581368496988162Twitter 912458136849698816
PhatStartupsMike McOwen@PhatStartups·
25 Sep 2017

I LOVE Toronto! Miss that place

GO Transit@GOtransit

Explore Toronto’s art scene with GO! Enjoy special late night service during Nuit Blanche on Sept 30. https://cards.twitter.com/cards/v2l8b/4ttwx

Reply on Twitter 912458028355670017Retweet on Twitter 912458028355670017Like on Twitter 912458028355670017Twitter 912458028355670017
Retweet on TwitterMike McOwen Retweeted
BuffaloSabresBuffalo Sabres@BuffaloSabres·
25 Sep 2017

Batter's up! ⚾️ Spending quality time with our friends at @MiracleLeagueWN.

4
Reply on Twitter 912457252057034754Retweet on Twitter 91245725205703475454Like on Twitter 912457252057034754319Twitter 912457252057034754
Load More...

Blog Ideas That Make Money

8 Reasons Why Everyone Shouldn’t Like You

How to Organize a Successful Workshop for Your Employees

Why Read Red Rock Secured Reviews When Creating Your Retirement Plan

Search

Copyright © 2023 · The Phat Startup

Copyright © 2023 · Divine Theme on Genesis Framework · WordPress · Log in