Business-world.co.in|Learn & Start own business from various fields

Even if you don’t have tangible products to sell, you can still make money online. You can do this by sharing your in-depth knowledge or by offering people guides, instructions, and expert advice to help them reach their goals or solve their pressing issues. Here’s how you can get started in this endeavor:

Identify the field that you’re going to target. First thing to do is to decide as to what field you’re going to focus on. Do you intend to offer consulting services on internet marketing, on Forex trading, on building a home based business, or in a running a corporation? You can also be a sales or leadership consultant. Just make sure that you have the needed expertise, skills, and relevant experience to effectively help your potential customers.

Choose a legal structure. The next step to take is to formalize your business structure while taking into considerations all the tax and legal aspects of your business. Right now, there are 3 basic forms of businesses. These are corporations, partnerships, and sole proprietorship. A lot of consultants who are just starting out prefer to set up their new business as sole proprietorship simply because this is the easiest one to set up.

Prepare a business plan. Just like when establishing any type of business, it’s very important that you prepare your very own business plan so you’ll have something to guide you all throughout. Although online consultants are not required to present their business plan to investors, this one will help you think through ahead of time the strategies that you’re going to utilize in order to keep your business profitable. You must plan your marketing campaigns and steps that you’re going to take to get your expertise known in the online arena. You also need to know the exact steps to take to generate sales and to manage your finances. You’ll be happy to know that there are now several business plan software in the online arena that you can take advantage of to make the process of creating your business plan a bit easier.

Set up your office at home. If you’re just like those other people who are starting out with shoestring budget, I suggest that you work at the comforts of your own home. Avoiding office rent can be a big help especially if you’re not yet making any sales. Since you’re transacting online, I suggest that you invest on getting the most reliable internet service provider. Choose those that can guarantee you with little or zero downtime. Then, invest on a reliable computer and office supply that you’ll need in running your business. Once you get successful, you can have your very own office and hire consultants to work in your firm.

Source by Sean Mize

It is a great idea for a business start up in these economically challenging times to sell your own knowledge and expertise as a consultant. Independent consulting is one of the fastest growing and most profitable business models around. More and more people are enjoying the independence and extra money it brings as well as the change in the quality of life through being in control of what you do and with whom you work.

People who earn their living through what they know or ‘knowledge professionals’ are becoming increasingly dissatisfied with the corporate or employed environment they commonly occupy and find freelance or contract consultancy to be a rewarding change or additional career option. It is possible to continue working on your knowledge and expertise without all the bureaucracy of company or organizational employment and the unpleasantness of climbing the company’s greasy pole of ‘advancement’. Also, those who prefer not to operate full-time find they can grow in their skills, knowledge and ability while employed and can work from their home and in their own time.

The consulting business has grown exponentially for almost three decades now as individuals have become an indispensable part of the economy. As businesses work to change in ever-new commercial environments technologies it is very difficult for them to keep pace so those with specialist knowledge in particular areas of business are finding they are in increasing demand. organizations are relying on consultants.

So, what is a Consultant?
A consultant is someone who offers help to someone or a business trying to solve a problem. Consultants work in a specific field of knowledge and provide expert knowledge to help solve problems. This will be a field that you are most familiar with.

In theory almost anyone can be a consultant – as long as you have what a client wants. This usually means skill and knowledge to solve a problem. It is not necessary to be the world’s leading expert in a particular field. Nor do you need to have been in the same line of business yourself, nor any other kind.

Among other things you will need to be able to ’sell yourself’, and have a very good appreciation and understanding of how to solve the problem that needs to be solved. This is normally good knowledge combined with experience and good communication skills.

Take a look at what you are knowledgeable about. Look at what particular ‘problems’ other people – particularly employers you’ve had – what problems have they employed you to deal with? You may have worked for years in a particular area of knowledge and you may have special education training in this. So if you’ve worked in recruitment, or in managing events, or in training other people or have knowledge about a very specific aspect of business process or have a particular talent with financial or legal issues, then you certainly will have the kinds of knowledge that would be ‘bought in’ by clients. But there are lots of other areas of knowledge too that require consultants such as gardening and horticulture, education, farming, health and safety, marketing. In fact, it is possible to be a consultant in anything so long as you have the knowledge that a client wants and can solve their problem.

Some consultants require qualifications in their field to be seen as sufficiently skilled by certain trades and industries. For example, Engineers, computer programmers, fund raisers and sports professionals (among many others) are often required to have certain degrees and diplomas recognized by their professions as guaranteeing the necessary minimum standard of skill and expertise.

Select something which you know about and something which you like. Can you communicate the benefits of your skills to a lay person? Can you write about what you know in a way that is easy for a person to understand? Can you explain how your knowledge and skill could solve a problem. These are all essential talents you will need to have in addition to the basic knowledge of the area in which you are offering expertise.

Steps

Here are some steps that you’ll need to take to set up your consultancy
Define your market Before you do anything else. Who is it you are selling your consultancy and knowledge to and what do they want? Everything else rests on this. There is no point in doing anything until you can answer these questions. Where are the people you will be selling to and how do you know what it is they want. My point is this: however clever or knowledgeable you are about something is no guarantee that someone will pay you for it. So find out what they want first (related to your area of expertise of course) then go from there. This goes whether you are setting up as a sole trader or with others to create accompany. A mistake that many make is that they feel they are good at something and that the world owes them a living. Lots of businesses of all kinds go down the tubes for this reason. They invent or create a product and then look for someone to buy it. No! Look for something that people want then go away and create it!

Plan Once you have answered the above question, prepare your business plan. A business plan will help you work through your vision and strategy for keeping the business working. What is the rationale that your business can succeed? Provide evidence! What exactly are your products and services (you may have a main one but develop other ‘back end products too) What is it that you want to achieve by when. How much do you want to make be when. Be realistic and bold. What is your evidence that this figure can be reached. How are you going to market? What is your financial plan? Do you need to borrow? How will you convince lenders? There are lots more things that should should be in a plan and each of these needs to be unpacked and detailed. Brainstorm these, then start putting them to a time-line.

Make a space to work Where are you going to work from? Many sole traders start from home. This is a good idea as it keeps overheads down. But if you do this make sure you inform the insurers of your house as turning your home into a workplace without telling them will render your insurance null and void. Choose a space in your home that is comfortable and warm. Obviously you’ll need phone access, internet access, a place for your computer, files and books (consultants always have lots of books).

You may want to read some more articles at my website.

What about marketing?

If you don’t have clients or customers then you don’t have a business. Usually, it pays to ensure that you have some before you leave your paid employment. The next thing to do is to inform them that you are ready and available for work.

Your marketing should narrow in on you being the expert that people need to solve their problems. A good way to do this is publish a few articles on the internet with links to your site (you must have a site!) which answers a question related to your field (you could go to Answers.Yahoo.com and look for a question to answer. Show your practical value to your potential customers. People need to get the idea that you are an expert, the expert. There are tons of ways you can market yourself and get your name out there. Here are 7 things you need to be thinking about:

1. Networking. Going to events where your target market congregates is one of the most effective. You’ll need business cards if you go to these. Also be prepared to speak to a wide range of people with a wide range of potential issues they may be looking for answers to. Start with the people you already know – your former colleagues and bosses, your friends and existing industry contacts. If there are name badges make sure you have the right information on yours. Talk to as many people as you can and collect business cards. Online networks are also important. These are known as forums. Join the ones that form you target market. But don’t abuse these through blatant marketing or you’ll just get banned. Use these to build relationships

2. Ask for Referrals. If you get work and it’s successful ask your client for a referral or two. Normally people will be happy to recommend you. Ask for a quote you can put on your website. Even if the person to whom you are referred doesn’t have any work for you at the present time ask if they too could refer you to other potential clients.

3. Public presentations. Consultants are usually good at communicating. You need to be able to talk about your area of expertise to all sorts of people. Speaking at events offers a great opportunity to get your message out there. This can terrify some. But fear not. Practice with a friend what you want to say. Use visual aids to detract attention from yourself. Keep what you want to say short and to the point and ask the audience questions frequently to maintain attention and interest and interaction. Volunteer to offer them free information. Contact you chamber of commerce, organizations and forums in your locality. See what possibilities there are at local colleges, universities and libraries.

4. Adds and Articles. Try to get a short article in a publication or trade journal that your target market reads. This is good for your reputation and gets your message out there among potential purchasers. Make it interesting and engaging – not just an in-your-face advert. Approach a journalist or editor to write something for you. They are usually happy to have new information to provide. Put together a short e-book and put it on your website to sell.

5. Direct Mail. You can distribute direct mail as sales letters, ad mailings, or brochures. The thing is to create a document that attracts the attention or your recipient, engages their interest, provokes their curiosity ultimately compels them to take action. It is absolutely imperative that you emphasise the benefits that your client will receive as a result of buying your services. Concentrate less on everything else.

6. Cold Calling. Yes, I know – it sounds a pain and few people like it but don’t neglect it. Practice cold techniques. Learn the first names of the people you want to speak to so that it sounds to the gatekeepers – of which there will be plenty – that you know them. Understand that the person you assume is the decision maker may not be. It could be the person above or below them or even along from them! Make your aim of a call to get an appointment. Keep it short, keep it clear and do it early in the morning – sometimes the person you want to speak to will be in before the secretary and may well answer the phone instead.

7. Your website. It is true that much of your business will be generated from face to face relationships. Some think that this means you don’t really need a website. Think again! Your website is your presence on the web. A place for all those who don’t know a person who can solve their problem personally – so they look online. It’s a place where all those internet articles you are going to write can be stored so that people can see at a glance your expertise. It is a place where you offer back-end products and services, related business products and so on in addition to your consultancy service. Your site has the potential to send your income through the roof. Apart from having your contact details on there you absolutely must have lots of great copy (Yes, ’salescopy’), and for goodness sake have an opt-in section so that you can collect all the email addresses of people who are interested in what you do.

Source by Michael Anthony Paul Anderson

A small business computer-consulting firm can be set up once you are
clear about the economics of the venture, skills required for setting up shop and the various options available to start a business on your own.

Economics of a Computer Consultancy Business:
A typical billing rate for a small computer consultancy business would be in the range of $100 an hour. Setting a rate at this level would be appropriate for a start-up firm, as anything more would require you to move into the really big league with highly skilled sales and technical staff. Taking a 40-hour week with a 75% utilization rate, the billable time works out to 1500 hours a year. This yields gross revenue of $150,000 per year, which can typically be deployed as under:

Salary for Sales Executive: $40,000

Marketing Expenses: $10,000

Taxes, Insurance and Overheads: $50,000

Technical Staff salary: $50,000

Total $ 150,000

Skill Requirements:
Besides pure technical skill, setting up a computer consultancy business also requires business skills to ensure that you are up and running.

• o Data Management: A good knowledge of a spreadsheet program like Excel will help you to manage the data for your client and your own business.
• o Communicating Effectively: Good verbal and written communication skills are a definite asset. The ability to come across effectively on the phone while dealing with prospective clients and retaining them is essential. Hone your ability to write effective and grammatically correct emails. You may also be required to give presentations to small groups of people. Familiarity with packages like PowerPoint will be an added advantage in setting up effective presentations.
• Options for Setting Up:
  Essentially, there are two routes you can take when taking the decision to set up your home consultancy. Either you could decide to set up your business entirely on your own, or alternately you could buy into a franchise. Whichever course you decide to take, you must be prepared for some hard work, especially in the initial startup phase. You will be required to meet with prospective clients, follow up on the promising prospects personally and on the phone. The final decision will depend on how much time and financial capital you are prepared to invest in your venture.
• o Franchising: The franchiser will have certain rules and procedures that you will be expected to follow. You will also have to part with a fixed percentage of your revenue. If you are looking for independence and flexibility in running your business then you may not like to follow this route. Alternately, if you have the requisite capital, you could also consider buying up an existing business.
• o Starting Your Own Enterprise: Starting your own business can be done with a few thousand dollars, a home office, a business phone number and a business card. In addition, besides the legal licensing registrations, you may require an attorney and accountant.

Starting your own computer consulting business does require hard work initially. However, the rewards of being able to get your venture up and running would well be worth it.

Source by Alexander Gordon

Procurement consulting can be done on the Internet and many other companies provide consultation services for a fee. These consultants are usually experts in economics or related fields that can study, understand, and even predict the market trends. This makes them useful in the long term because they are capable of cutting costs for the company by providing legal and financial advice.

Buyers can wait for prices to go down or they can predict the prices, thus reducing the investment. This prediction needs to be accurate in order to have any effect on the cost of the commodity. Sometimes big companies and amateur entrepreneurs find it hard to predict prices, and consultants are hired in order to cut down the costs incurred due to procurement.

These consultants are usually experienced in all phases of purchasing and procurement consulting and focus on understanding the cost of the commodities that mostly drive the price of their supplies. This knowledge helps the buyer to negotiate prices and quality in order to bring down the cost.

E-procurement consultation is another field that is improving drastically, as new software and programs are developed in order to make the procurement process simpler and cost effective. Consultancy services are also useful for those who cannot afford losses due to financial constraints. Although many consultation firms have cropped up on the Internet, only effective research can guide a buyer to the right consultant.

Strategies can be made in order to negotiate and purchase goods at cost-effective rates. These strategies can only be effective if experts who can predict future prices and the ups and downs of the market form them. Thus, consultants can help buyers and bidders alike by saving time normally spent on negotiations and research.

Procurement consultants can not only save the company money, but also educate their clients about market trends and the scope of their client’s business venture.

Source by Alison Cole

Grant writing is attracting a lot of attention these days. More and more people are investigating how to supplement their income, or replace their day job altogether, by writing grants. I am often asked the question, how can I start my own grant writing consulting business? I would urge you to consider the matter very carefully. Making the transition is not as easy as it seems.

There are two major prerequisites one should have before marketing his or herself as an accomplished grant writer. These are having:

1) a track record of successful grant proposals; and
2) nonprofit knowledge and experience.

There are numerous people out there touting themselves as professional grant writers. Meanwhile, they have little to no field or nonprofit grant writing experience. They think because they are confident in their writing ability, or have a background in technical writing, that they would easily make the transition. Grant writing and technical writing are very different.

Grant writing is similar to technical writing in that you’re gathering information about various subject matters. As a grant writing consultant, you may have one client or multiple clients with varying missions and programs. Having a technical writing background will allow you to write about numerous subject matters with ease.

Grant writing is dissimilar to technical writing in that it is an emotional appeal. One has to be able to merge the technical side of the argument with the emotional side. People who give away money do so because they have an emotional or personal connection to a cause. It is the grant writer’s job to convince the grant or donor that their charity deserves the grant more than the dozens, hundreds, or thousands of other asking charities.

Anyone can print a business card and say they are capable of delivering such a product. However, I would dare to say, as a CEO or Executive Director of a nonprofit looking to outsource my grant writing the chances of me hiring someone with no track record, knowledge, or field experience would be close to zero. I have heard far too many horror stories about the unethical practices of people claiming to be professional grant writers. This behavior makes nonprofit leaders distrustful and resistant to the idea of outsourcing their grant writing.

If you are an experienced grant writer and you have the documentation to prove it, you can start your own home-based grant writing consulting business with very little start up costs. When I started 2 1/2 years ago, I developed a presentation folder that included:

1) a portfolio of foundations that had approved my proposals;
2) my bio with professional related experience;
3) a brochure listing the types of projects I had worked on; and
4) a postcard that highlighted the benefits of working with my company ($ secured to date, affordability, and free grants research).

I made a short presentation to a few people I knew who managed nonprofits. Then I used local grantee lists to start a database in order to send out advertisements. Each month I would mail a postcard to the nonprofits on my list and follow up with a phone call. I got my first few clients using this marketing strategy. Soon after, those clients began to refer their colleagues and the rest is history.

Source by Chataun Denis

Whether you want to hire a small business consultant or want to become a small business consultant yourself, you would do well to learn what constitutes a smart and successful business consultant. Read on for several attributes to bear in mind:

Business Consultant Skills

A consultant should have strong business skills. These include: organisational skills, technological savvy, and a strong level of business knowledge. Most consultants not only have a history in business in many areas and roles but also have a business-related degree.

Marketing Knowledge

A major part of consultancy and mentoring success happens when a consultant teaches companies how to effectively market to their existing client base and to their target customers as well. A consultant needs to understand the fundamentals of marketing.

Be aware that not all marketing educations are equal. If you are trying to make a splash online, for instance, 20th century marketing techniques no longer make the grade alone. A consultant should know how to market online as well as have a background in bricks and mortar marketing. Some marketing consultants specialise in one area and some specialise in both.

A Diversified Background

Marketing consultants that mentor small businesses aren’t typically fresh out of university. Whilst marketing majors with degrees do have a solid foundation of knowledge that can help a business succeed, these people tend to work for companies in marketing roles rather than as consultants that work with small businesses and entrepreneurs to help them take a business to the next level of success (or save it from impending doom).

Staying Abreast of Technology

Technology is a vital aspect of small business consulting. Embracing technology and all it can do for business and marketing success is a good sign of someone having the knowledge and passion necessary to mentor a business owner.

Great Listening Skills

A good consultant will be able to listen to the challenges and problems a business owner is facing. Those listening skills should help the consultant put together a customised plan to help the business owner meet and exceed their goals.

Good Communication Skills

If you want a consultant you want someone that is easy to communicate with. Because a consultant coaches and advises you, you’ll want someone that can simplify complexities for business owners and help them understand the steps needed to succeed.

Excellence in Coaching Skills

Coaching and mentoring is more than just cheerleading. An excellent small business consultant has the knowledge, background, and skills that help them to coach a company in a way that helps lead them toward reaching their goals.

Source by Chris Jenkinson

A home-based business is the ideal set-up for housewives, retirees, part-timers and anyone looking for additional sources of income. It’s easy to set up, inexpensive, convenient and helps pay the monthly bills.

While there are infinite ways to earn money while working at home, none can be as lucrative as being a small business marketing consultant. Here’s why:

* Low start-up capital

Your greatest asset in consultancy is not cash or equipment (although you will need a basic computer setup with an internet connection to start with) but your knowledge, skills and mindset. The best way to earn money is to provide a solution to a problem. Small businesses constantly need fresh input for marketing their products and services in the Internet. With your knowledge in Internet marketing, you can provide concrete solutions for which these small businesses are willing to pay.

* No inventory

Unlike most home-based businesses that sell items on the Internet, you won’t need to maintain an inventory of goods at home because your product is your skill or service. Your consulting business can continue without you having to replenish or buy new stock.

* Recurring monthly income

When you are a small business marketing consultant, you get paid monthly for your advice and services. Typically, once you are retained as a consultant, your client is bound to pay a monthly service fee at the start of each month. You not only get paid monthly, your services are prepaid as well!

* No transportation hassles

Sellers on eBay, Etsy and other eCommerce sites may be earning money from retail or wholesale but they also contend with transportation or delivery costs. While these costs may be transferred to the buyer, sellers have to step out and get their items delivered.

As a small business marketing consultant, rendering advice or providing a service is often done over the phone, by email and on the Internet. By working entirely at home, you spend less on gas and parking fees and won’t have to suffer through daily traffic jams. With virtually no commute time, you contribute to a cleaner environment as well.

Almost anyone can be a small business marketing consultant these days. Stock knowledge in Internet marketing is a plus but there are excellent resources nowadays that teach the basics and advanced techniques in short and easy-to-follow courses. There are many ways to make money from home, but if you are on a shoestring budget and love helping people, then starting a consulting business is the one for you.

Source by Kyle Tully

The Internet is increasingly being used not only for conducting online business but for marketing and advertising offline establishments and professional services as well.

As the Internet has become an important aspect of almost everyone’s life, it is a powerful medium for attracting potential clients and promoting business to a wide audience.

Offline business owners recognize this and are turning to experts in online marketing to take care of their needs, creating a huge demand for offline business consulting specialists.

Being an expert Internet marketer will be an advantage for offline business consultants but almost anyone with a drive to learn and some business skills can engage in offline business consulting as well.

Getting started

There are many aspects of online marketing that you can learn from an expert, mentor, coach and even on your own through a home study course. The key is to have access to a fast system that teaches everything you need to learn about a service you would like to provide such as:

* Website building
* SEO or traffic generation
* Lead conversion
* Content writing and management

You need not be an expert in all these services to be able to land your first few clients. You can choose one service and put all your efforts into developing the skills for it and eventually become a specialist. As you gain more experience and techniques to add to your portfolio, you can then provide a full-service offline business consulting package to your clients. Or simply outsource these tasks to another professional and take a finders fee for your efforts.

What you will need

You will be your best asset in this business. All you need to start is a computer, an internet connection, and a list of prospective clients.

Cold calls to people on your contact list are a great way to start because you may never know who among your friends and colleagues need your services unless you let them know what you can do for them. You can also ask for referrals to expand your contacts database and pinpoint your target market to improve your success rate. Many consultants find this alone is enough to keep them busy for months on end.

Importance of discipline

While you may enjoy freedom, independence and mobility by being an offline business consulting specialist, you should still practice traditional business habits like maintaining a daily schedule, time management, skills development, and record keeping.

Developing your own system for doing regular tasks like billing, sending updates, responding to clients, sending sales letters, and monitoring projects will present advantages of having more free time, generating new clients, better performance and client satisfaction.

Source by Kyle Tully