New Business of Consulting

ELAINE BIECH is a dedicated lifelong learner who believes that excellence isn't optional. She has been consulting for more than 35 years helping global organizations and individuals reach their potential. Elaine has been featured in The Wall Street Journal, Harvard Management Update, Investor's Business Daily, and Fortune. She has published more than 85 books, including Training and Development For Dummies, The New Consultant's Quick Start Guide, and the Washington Post #1 bestseller, The Art and Science of Training.

• Exhibits and the Companion Website xiForeword xvAcknowledgments xixIntroduction xxiOne So You Want to Be a Consultant 1What Is Consulting? 3Why Consulting Now? 4Four Ways to Get Started 10Myths About Consulting 17Realities and Rewards of Consulting 22Just What Are You Getting Yourself Into? 23For the Consummate Consultant 29Two Talents and Tolerance 31Your Skills for Success 33Roles You May Play 40Signs of a Mediocre Consultant 42Your Personal Situation 43Caution: Business Owner Ahead 45Entrepreneurial Characteristics 45For the Consummate Consultant 50Three Dollars and Sense 51How Much Income Do You Require? 52How Much Should You Charge? 56Selecting a Pricing Structure 64Other Pricing Decisions 68Other Charges 70Fee Increases 71Ethics of Pricing 73Money Discussions 75Value of a Guarantee 76For the Consummate Consultant 77Four Starting . . . 79Why Some Start-Ups Succeed and So Many Fail 81What’s in a Name? 82Selecting an Accountant 86Selecting a Legal Entity 87A Business Plan to Guide You 89Plan to Use Your Business Plan 95Start-Up Costs 100Finding Your Niche 102Your Image Is Everything 105Experiencing the Experience Maze 108For the Consummate Consultant 113Five . . . And Staying in Business 115Marketing from Day One 117Creating Your Marketing Plan 118Using the Internet 128Surprising but Practical Th oughts on Marketing 131Tactics for Low-Budget Marketing 136Contacting Potential Clients 141Proposals Lead to Contracts 148Why Would You Refuse an Assignment? 150For the Consummate Consultant 151Six The Cost of Doing Business 153Keeping Records for Your Consulting Business 155Watch Your Cash Flow 156Track Your Expenses 164Set Aside Petty Cash 172Charge Your Client 175Project Revenues 179Deal with Bad Debts 179Keep an Eye on Your Numbers 181For the Consummate Consultant 186Seven Building a Client Relationship 187Relationships: It’s Why You’re in Business 189The First Meeting 191Four Phases of Building a Client-Consultant Partnership 193Adding More Value 204How Many Clients Do You Need? 211How to Improve the Relationship Continuously 211It’s the People 214Maintain the Relationship Aft er the Project 215Ensure Success 216For the Consummate Consultant 218Eight Growing Pains 219Adding People 221Growing Without Adding People 238Expand Your Geographical Market 247Doing Everything You Can to Grow Your Current Business 249For the Consummate Consultant 253Nine The Ethics of the Business 255Consultant to Client 258Consultant to Consultant 265Client to Consultant 269Parting Ethics Shots 270For the Consummate Consultant 272Ten Exude Professionalism 273Competencies to Boost Your Consulting Success 275Continuing to Learn 286Balancing Your Life and Your Business 289Managing Your Time 291Giving Back 297For the Consummate Consultant 299Eleven Do You Still Want to Be a Consultant? 301A Week in a Consultant’s Life 304Visualizing Success 316Taking Action 317Get Ready, Get Set . . . 318For the Consummate Consultant 324Appendix 325Helpful Resources and Links 325Reading List 327About the Author 331Index 333