You’ve spent years climbing the corporate ladder in a field you know inside and out. You’re a seasoned manager or administrator with a wealth of knowledge and a proven track record of success. But it feels like you’re going in circles and not a ladder anymore. Maybe the room for growth seems to be shrinking, or the competition is getting downright cutthroat. Perhaps you dream of putting your expertise to work on your own terms.

Here’s the exciting truth: You have the power to build something truly your own. Have you considered starting a consulting business specifically tailored to help others in your industry?

You Know Your Stuff (and Where to Find the Rest):

You’ve spent years honing your skills and navigating the complexities of your field. You’ve worked your way up more than once, only to get pushed off the ladder again and again. You know where your strengths lie, and you’ve likely built valuable connections with other talented individuals along the way. If not, you can find them in business networking groups.

Restaurant and retail managers are building empires for owners by teaching others how to optimize kitchens, create positive work environments, boost customer experience and reviews, optimize budgets, and maximize profits. Property managers are sharing their wisdom on legal compliance, tenant management, and effective marketing strategies to foster a highly profitable business for someone else. You own the knowledge. Your expertise and networking circle give you an edge over typical, numbers-only, education-only type, corporate consultants. Could you package and sell it?

Here’s why starting a consulting business might be the perfect next step for you:

  • Become Your Own Boss: Say goodbye to office politics and hello to the freedom of setting your own schedule, choosing your clients, and building a business that reflects your values.
  • Turn Your Experience into Profit: Your years of hard work have equipped you with invaluable knowledge. Now, you can share that knowledge and guide others to achieve similar success.
  • Make a Real Impact: Imagine helping investors avoid costly mistakes, empowering restaurant owners to streamline operations, or guiding a team of managers on resident retention strategies. Your consulting services can make a real difference in the lives of your clients.

On the Flip side, consider possible challenges

  • Securing Funding and Resources: Obtaining financing, securing equipment, and acquiring necessary permits can be a complex and time-consuming hurdle, especially for new businesses.
  • Building Brand Awareness and Customer Trust: Standing out from established competitors and convincing potential customers to take a chance on a new business takes dedication and strategic marketing efforts.
  • Finding the Right Team (or Going Solo): Hiring qualified employees or managing all aspects of the business yourself requires strong leadership, delegation skills, and the ability to wear many hats.

Develop a process to teach others the same things you’ve mastered.

Imagine creating a framework that condenses years of experience into a clear, step-by-step approach – a roadmap to success for those who are new to the industry or hungry to take their skills to the next level. This is something you should start doing today even if you are not ready to go out on your own. Your knowledge is valuable.

Now Leasing flags flying under a rainbow

Brainstorm everything in your brain and write it down

Grab a notebook (or your favorite note-taking app if that works) and look back on all the amazing work you’ve done! Jot down everything you’ve learned, the problems you’ve solved, and the successes you’ve achieved. Having trouble? Think of the impact you’ve made on others’ bank accounts. How did you do it? Don’t worry about perfect organization, just get it all on paper.

Chances are you’ve got lot’s of documentation on your best work, or you may have an operating procedure manual you’ve contributed to over the years. Put yourself in the frame of mind of teaching. Think about giving classes. Write down your lessons. Start with creating your manual.

Identify Your Target Clients

Think about who would benefit most from your expertise. Have you worked with business owners that trust your expertise? Can you build a budget and explain it to investors? Are you drawn to guiding new property managers navigating legal complexities, or perhaps you excel at helping restaurant owners optimize their menus or train a team? Define your ideal client and tailor your services accordingly.

Start a Simple Brand Website You Can Grow

If a Google Business Profile is your digital storefront, a professional website is the inside of your digital store. Keep it simple initially and focus on showcasing your experience, your services, and the value you offer. This is where I come in as a web designer. I build and host WordPress websites for small business owners. I can help build your foundation and use digital marketing techniques to help you grow.

Naming your business is a strategic decision

The business name should be short descriptive of what you do like Apple Marketing Consulting. If the business is location-reliant, adding the city/area name will help with search engines.

Your logo should be clear, memorable, and easy to see on any background. A few variations are important for different situations like print and web, for example. It’s a good idea to hire a professional for guidance and to make sure you have to proper file types.

Leverage Your Connections and Make New Ones
You’ve built relationships with talented individuals during your career. Think about the gaps in your own expertise – the legal aspects, the marketing magic, or the tech troubleshooting. Reach out to your network and explore potential collaborations. There are networking groups in most cities and on Facebook. Find the people doing what you want to do and the people you think you want to work with and connect.

Start (but Don’t Stress) the LLC Process:
If you don’t have an operating business yet do it after you have a business practice and have made some money. Make sure it’s what you want to do. I have a dba for my business and I operate independently. Forming an LLC protects your personal assets while offering some tax advantages. While you don’t need to complete it all immediately, learning about different ways to register a business is part of starting. Many online resources can guide you through the steps. Disclaimer: I’m not a legal expert, and these are just general tips based on my experience. Always consult with a qualified professional for legal advice specific to your situation.

Remember, you don’t need to have everything perfectly figured out to get started. Take that first step, embrace the excitement of building something new, and watch your expertise turn into a thriving consulting business! Things change quickly in the business world, so be sure to stay up-to-date on current trends and best practices.