{"id":185,"date":"2024-09-20T08:42:24","date_gmt":"2024-09-20T08:42:24","guid":{"rendered":"https:\/\/eetium.com\/ja\/2024\/09\/20\/avoid-these-3-pitfalls-when-opening-a-consulting-business\/"},"modified":"2024-09-20T08:42:24","modified_gmt":"2024-09-20T08:42:24","slug":"avoid-these-3-pitfalls-when-opening-a-consulting-business","status":"publish","type":"post","link":"https:\/\/eetium.com\/ja\/2024\/09\/20\/avoid-these-3-pitfalls-when-opening-a-consulting-business\/","title":{"rendered":"Avoid These 3 Pitfalls When Opening a Consulting Business"},"content":{"rendered":"

If you\u2019ve ever met someone who told you they were a \u201cbusiness consultant,\u201d and you scratched your head wondering what in the heck does that really mean, you are not alone. The term \u201cconsultant\u201d is so vague it often borders on euphemistic.<\/p>\n

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Are they essentially unemployed or trotting the globe advising Fortune 100 CEOs on their next strategic move?<\/p>\n

Because the term is so ambiguous and often misunderstood, starting a consulting business can be quite tricky. I find that new consultants have difficulty articulating their business proposition and that\u2019s certainly a recipe for disaster. At the end of the day, our job as entrepreneurs is not just helping customers understand what we\u2019re providing but more importantly helping them see why they should buy it. If they don\u2019t easily understand your services and feel a strong urge to purchase them, you\u2019ll have a steep uphill sales climb at best.<\/p>\n

So, should you abandon that consulting business idea? Not so quick. Consulting, if done correctly, can be a lucrative business for entrepreneurs \u2013 it just needs to be done correctly.<\/p>\n

Here are three major pitfalls to avoid as you plan your consulting endeavor.<\/p>\n

Not developing your subtitle<\/h2>\n

I\u2019ve noticed that virtually every non-fiction book title has the same format these days: short, catchy title followed by a longer, more descriptive subtitle. (For example, Tony Robbins\u2019 \u201cNotes From a Friend: A Quick and Simple Guide to Taking Control of Your Life\u201d.)<\/p>\n

Consulting businesses can often benefit from the same strategy. Telling someone that you\u2019re a marketing consultant may sound good, but it really provides very little information and only leaves them confused.<\/p>\n

What\u2019s more effective is starting with your catchy title and then following up with a sentence or two that provides a vivid description of tangible services that can serve a real need for someone.<\/p><\/blockquote>\n

For example, \u201cmarketing consultant focused on helping small businesses promote their products and services, so they can focus on running their business.” Yes, the second version is longer and you shouldn\u2019t blurt it out anytime anyone asks your name, but you should be prepared to share it when you\u2019re asked to describe it.<\/p>\n

The simple truth is the title \u201cconsultant\u201d is virtually meaningless and should rarely be used without any additional explanation. Develop your subtitle and use it.<\/p>\n

Providing only services without a product<\/h2>\n

The upside of service businesses is that they require little capital expenditure and barriers to entry are low. After all, if you\u2019re essentially selling your advice, it\u2019s fairly easy to develop a website, hang your shingle, and find yourself in business. The downside for service businesses though is that they\u2019re often quite labor intensive. Consulting businesses relying exclusively on services can find themselves frustrated because they are:<\/p>\n