A consultant is someone who provides expert advice and knowledge to help businesses or organizations achieve an objective, improve certain aspects of their operations, or solve problems. If you have expertise in a specific field, you can lend your knowhow to clients in exchange for an agreed upon fee.
Here are some tips on starting a consultancy business in the Philippines:
Decide on your niche
What are you an expert in? What skills and knowledge can you impart to an organization to help them improve the way they do business? To be a consultant, you need to have a certain degree of authority in a field of interest that can be of use to an organization. If you have a license, a degree, or accreditation in a specialized field, that can add to your credentials as a consultant.
In the Philippines, the most sought after consultancy services include:
Business formation, acquisitions, and mergers
Management and strategy development
Market research and analysis
Human resource management
IT and website development
Develop a network
Join clubs, organizations, trade events, and similar activities related to your field of expertise, or even social clubs and non-professional groups where you can meet like minded individuals who may refer you to potential clients.
Starting and growing a network is important for several reasons. It can help spread word of mouth about your services and connect you with potential clients. You will also get to learn more about your industry and keep yourself updated with the latest trends and developments in it, which you can use in keeping your services competitive and updated.
Establish your expertise
Find opportunities to share your knowledge, such as acting as a speaker or resource person for events and seminars, self-publishing a paper or a book, contributing to a website or magazine, and so on. While these may not be income generating activities, they can help establish you as an expert in your field.
Have the right tools and human resources
At the start of your business, you may not need a large staff, but make sure you have the essential personnel to carry out jobs. In addition, it’s important to invest in any tool and equipment you might need, including software and apps.
Market your business
Selling consultancy services can be more difficult than selling tangible products. You may need to tap into clients or customers who probably are not even aware they need your services. Analyze your business and what you have to offer, and pinpoint your potential markets. From there, you can identify the best avenues to spread awareness of your services.
Here are some of the most effective ways to market a consulting service:
Create a website
People will want to know about who you are and what you do, and there’s no better way to do that than having a website where you can clearly state the type of services you offer and how you can help other businesses
With everyone in social media these days, Facebook, Twitter, LinkedIn, and other platforms can be highly effective in reaching potential clients and spreading word about your services. In addition to promoting your business on your social media, consider advertising on these platforms, as well
Email marketing is most effective when you have developed an email list of businesses or individuals with whom you at least had initial contact. Cold emails, or emails sent to businesses you’ve never communicated with previously, may not be as effective as recipients tend to ignore or even block emails from unknown senders.
As mentioned previously, networking is a highly effective marketing tool for a consulting business. It’s an excellent way to get introduced to the right people and receive referrals.
Keep growing your knowledge and abilities
Everyone benefits from continuous education. By keeping yourself informed about the latest trends and developments in your field, you’re better able to provide quality service to your clients and keep their trust. It also helps you identify and implement any adjustments or changes to your programs and services if necessary.
Register your business
With the proper business licenses, you’ll have an easier time convincing people of your authenticity and professionalism. Decide on the type of business you want to set up, whether it is a single proprietorship, a partnership, or a corporation. Register your business name with the DTI or SEC to establish your identity and avoid the chances of any wrongful or confusing use of your name or business.