Online Consulting Business

Starting an online consulting business is a good idea to keep costs low, and it gives you the most freedom when working with clients. You don't have to drive to in-person meetings, or rent a conference room to consult, the way you might if you were running a traditional consulting business from home. Think through the following components of an online consulting business, before you start yours:

Decide on an Online Consulting Business

You may have many areas of expertise, which makes choosing a niche difficult to do. Don't confuse prospective and existing customers by trying to be everybody's consultant. Decide what consulting business to do, and discipline yourself to stay in that industry. Some fields that are proven or emerging are:

• Emergency preparedness
• Weight loss
• Organization
• Legal
• Accounting
• Public relations
• Technology
• Marketing
• Educational

The business you choose should align with your experience, expertise and skills. If you don't have all three, then don't work as a consultant in that industry. Choose another role until you acquire these three things.

Write an Online Consulting Business Plan

There's a myth that you only need a business plan if you're seeking financing. That's not true in all cases. Savvy business owners who have no interest in outside sources of funding write business plans to give them direction in their businesses. You'll do well if you write one for your online consulting business. It should include your start up costs, a marketing plan and a technology plan to help you manage a team in the future and to deliver work to clients online. Yahoo! or some other email program is not going to be enough technology in your business. The plan should also include financial statements, such as cash flow and income projections.

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