Consultant Starting A New Business? Here’s How It’s Done

If you’re a consultant starting a new business and trying to jump feet first into the world of the entrepreneur, there are some basic guidelines and tactics that you should use to get the best results for your future. Today, I’d like to discuss some of these skills, and how my more than a half-decade of experience has refined them to a place that I trust can help get you on your way.

The First Priority of The Consultant Starting A New Business

The first priority of your new consultancy business should be scaleability. You don’t want to have to spend your own personal time with every single client, on every single call, at every single meeting, and so forth. In other words, your goal is to go from being a consultant to an actual entrepreneur.

As you probably know, a consultant comes from outside of a given company and then solves a bunch of internal issues within the business. A consultant is basically like a doctor.

When a doctor – let’s say a sports doctor – operates on an athlete with a nasty injury, he comes in, does his work and he solves the problem for the player. He operates and mends the injury.

Yet, this doesn’t make the doctor into an athlete. The doctor is a hired expert from outside the sporting organization fixing an issue for the business.

But, if you want to become the athlete,  you’re going to have to do some of the running yourself. In fact, a lot of the running yourself. You’re going to have to master some of the skills that make people into an actual entrepreneur.

What It Takes To Be An Entrepreneur

What are those things? First, let’s give an example on how you go about from being a consultant to a working business owner.

As a consultant, you gather alot of data about clients’ needs, their problems, and how you solved them. To begin your business, you’ll likely want to take the 20% of what you did for them that generated 80% of the value and condense it down into a product.

In my case, the product was my mastermind. I take groups of people, put them into a mastermind, and implement what I’ve learned as a consultant into their lives and their businesses. In other words, I funnel them into a group as a business model.

A group is scaleable – they talk to each other and they talk to me. I can add 1,000 people to it and still I’m offering them the same exact value as I would if it was five people to one.

It’s Not As Complicated As You Think

So, that’s what you do. You take the best things that you implemented as a consultant and turn it into a product.

Of course, pick something that can be turned into a product, maybe an information product where you explain how to perform a skill, for example. I would suggest doing video; as I’ve mentioned before, it’s very successful these days.

If you can execute grouping your customers as I’ve shown, implementing what’s worked for you in the past, and release quality products your audience, you have a real business. Congratulations, you’ve done it. Try this out, tell me your results, and let’s continue to increase growth and value as much as possible.