Should You Start Your Own Independent Consulting Business?

In my most recent blog post, I wrote about some of the reasons why independent consulting businesses are thriving in the new economy. I also related some of the key differences between corporate consulting firms and smaller, independent practices. Today, I'd like to highlight a few more reasons why independent consulting firms are thriving, and I'd like to offer some advice if you're thinking of starting your own independent consulting business.

Times Have Changed, and Business Has Changed, Too

I've written extensively about how small and mid sized businesses are more willing than ever before to consider the services of an independent consulting business. These businesses want to avoid making the mistakes of the past while preparing for a lucrative future. Modern companies and their leaders are interested in sticking around for the long haul, and they're not afraid of hiring consultants to help them realize their visions of the future. However, if you step back and look at the business world as a whole, you'll see that smaller organizations have been changing in other important ways that benefit independent consultants.

Cost-Savings Through Efficient Hiring Practices

Businesses that used to commit to hiring teams of full-time staff members have been rethinking their hiring strategies. In many cases, they've realized that they can drive results more effectively by bringing consultants into the fold instead of hiring new employees. More importantly, the cost-savings for businesses are tremendous when they contract with consultants instead of brining new people on board.

Understanding the Data

It's become increasingly important for business leaders to engage with metrics, statistics and other data that can help them guide their companies more effectively. The trouble is that many of these leaders simply don't know how to cull this data properly, much less massage into actionable business plans. Consultants can gather important metrics about a business and help leaders develop plans that take advantage of the real numbers.

Consulting Provides Proven Results

A recent article on Forbes.com discusses the results of a study that proves the value of management consulting. In years past, businesses didn't really know whether consultants could help them or not. Today, there is data available that shows without a doubt how consulting practices are transforming businesses in a positive fashion. As a result, businesses are investing more in consulting, which is one of the major reasons why your own consulting business has a chance to thrive if you take the right approach.

Should You Start Your Own Consulting Business? Yes!

By now, it should be clear to you that consulting is one of the rising career paths in our new economy. Modern business leaders understand that many of the ideas of the past are no longer valid, and they are turning to consultants to help them survive, thrive and grow. If you're looking for a change to your career, and you've got the knowledge and experience to help business leaders find solutions and drive results, you've got what it takes to start a successful consulting business.

Of course, starting a consulting business isn't easy to do on your own, so I encourage you to take a look at the numerous resources Ex3 Matters has available. Whenever you're ready, we can help you join the thriving field of consulting without throwing your life into a tailspin. You've got the knowledge and experience you need to perform at a high level as a consultant; we have the education, resources, community and tools to help you ensure success.

Are you interested in learning more about starting your own independent consulting business? Check out Buddy Hobart's free eBook, “Experience Matters,” and download your free Ex3 Matters consulting guides.