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Launching A Consultancy Business
Posted By: pitchitdown* on 3/3/2005 1:24 AM (CST) 250 Points
I have a very diverse, multi-disciplined background and want to set up a market consultancy firm specializing in branding, strategy, qualitative research and idea creation.

I don't have a formal marketing education, and I'm wondering if anyone can point me in the direction of any good resources (online or not, it doesn't matter), or can offer any tips or advice.


Posted by: Sanjeev Kumar Vyas Accepted Answer
3/3/2005 1:58 AM (CST)
Hi Pitch,
There have been similar questions that have been asked here on the forum previously I think it would help you if you read them.
Since you do not have formal Marketing education I hope you have a lot of experience in Branding, Strategy, etc. Cause else it will be difficult for you to get your 1st clients.
Sanjeev Kumar Vyas
 
Posted by: thinkmor Accepted Answer
3/3/2005 7:43 AM (CST)
Hi Pitch

Here are some serious question you should consider:

What consulting services are you good at that you can deliver better than competitors?

Why should clients choose your services over competitors? i.e. differentiation

Why are your services needed?

What benefits can your bring to clients others can't?

Why should anyone care whether you are in business?

Once you have all of the above 'down' research your competitive landscape, decide on your niche you can best serve, segment and target your audience and position yourself within the marketplace so prospective clients know you are right for them when they are looking to use services like yours. Obviously, this is simplified but you get the idea.

I would also recommend you get Michael Goodman's consulting book, Rasputin For Hire (http://www.rasputinforhire.com) as a good insight for new and experienced people looking to consult. He's one of many experts on KHE.

Hope this helps & Good luck!

Zahid Adil
 
Posted by: Paul Copcutt Accepted Answer
3/3/2005 2:36 PM (CST)
Congratualtions on taking this step.

Advice would be to make sure you do the work involved in identifying your goals, is is that is unique about what you offer, your competitors, etc etc

A great place to do a lot of this work would be the Reach Branding Club - Entrepreneurs section - where you can use some on line modules and a wealth of other resources to work on your personal brand

www.reachbrandingclub.com

Also books to take a look at apart from Rasputin for Hire would be:

Million Dollar Consulting - Weiss
Guerilla Marketng for Consultants - Levinson
Professional Services Firm 50 - Tom Peters
The Tipping Point - Gladwell
Free Agent Nation - Pink
Purple Cow - Godin

Good luck!
 
Posted by: mgoodman Accepted Answer
3/3/2005 10:06 PM (CST)
I can't resist.

First, thank you all for referring pitchitdown to Rasputin For Hire : An inside look at management consulting between jobs or as a second career. I think the book really does address the specific question he/she is asking.

Even before you start the book, though, I'd suggest you take the self-assessment on the Rasputin For Hire website. It can be accessed by a link from the homepage at www.rasputinforhire.com . It's in a large brown box that's pretty hard to miss.

If you will take seriously the questions posed and the issues raised, you'll actually get a lot of insight into what it takes to be a good and successful consultant. You may be surprised to learn that consulting isn't as easy as it looks.

Good luck.
 
Posted by: Head Coach Accepted Answer
5/4/2005 11:39 PM (CST)
Actually I would advise you get a marketing degree if you want to be apart of the next wave in marketing. For the last several thousands of years marketing has been practiced by millions of people with little or no training in the science of marketing. When the industrial revolution gave us mass production it was quickly followed by mass marketing. With few choices, "Any color as long as it is black!", mass marketing seemed to work but it was more an equation of finances and choice than good marketing.

Today with unlimited choices and credit debts going out of sight there is not a single person on the planet who wants to be mass marketed to yet has marketing really changed in 100 years?

If you cannot take a consulting customer beyond mass marketing your consultancy will not excell. Consider an early investment in a strong marketing program to become the cornerstone of a very successful practice. It sounds like you have the industry experience and just need this foundation to begin building your practice.

Good luck. Keep your head down and follow through (it works in business and on the course)!!

COmac
 
Posted by: Shelley, MProfs Moderator Response
5/8/2005 1:51 AM (CST)
Everyone, thanks for participating. I am closing this question since it's gathered a considerable amount of dust.

Please do NOT post questions here in the future unless you are willing to stay in the conversation AND close the question on a timely basis.
 


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