
Ask HN: Should I start my own consulting business? - Jeff101
Hi HN,<p>I am seeking advice on whether or not I should start my own consulting business. The business will be a management consultancy advising software companies. I&#x27;ve done the market research and I know there is demand for the niche I plan to focus on. The question is can I turn it into a successful business?<p>I’m a consultant by trade but have spent the last 7 years of my career in sales. I like to think selling is my strength and will be my only focus after 12 months in this business. My intention is to see this company out for the remainder of my corporate career so I would like to exit at some point.<p>Here’s my plan for the first few years. Appreciate your thoughts and any advice on how to get off to a good start<p>Fly solo year 1. I expect to be doing 3 jobs at once – the consultant, sales and marketing. Keep costs low.<p>Find a T1 customer, deliver above and beyond to build reputation<p>Focus on high end consulting - helping companies to make money or save it.<p>Raise profile as a thought leader in my space (working on this at present)<p>Build pipeline by networking like crazy + running local meetups as well as building a strong search and social presence.<p>Build cash pile to fuel future growth<p>Productionise my service offering to make it as repeatable and scalable as possible (if there&#x27;s such a thing for a consulting business!)<p>Build pipeline of projects for the next phase of growth<p>Expand years 1-2. Hire VP of Consulting to build fulfillment team and deliver projects.<p>Aim to hire 5 more consultants<p>I take on commercial responsibilities as Managing Director at this point<p>Grow team to 20 consultants around year 3<p>Find funding to fuel growth and establish a board.<p>....Set the business up for growth with a view to selling by year 10.<p>Thanks all,<p>Jeff
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brudgers
To me, the real test is getting a client and getting paid. No other plan
detail matters,

Good luck.

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Jeff101
Thanks brudgers!

