How do I start a consultancy business with little or no capital?

Answer 1

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

Consulting Specific:
* How to Start and Run a Successful Consulting Business by Gregory F. Kishel, Patricia Gunter Kishel
* The Consultant's Quick Start Guide: An Action Plan for Your First Year in Business by Elaine Biech
* Getting Started in Consulting, Second Edition by Alan Weiss
* Successful Independent Consulting: Turn Your Career Experience into a Consulting Business by Douglas Florzak
* The Consultant's Manual: A Complete Guide to Building a Successful Consulting Practice by Thomas L. Greenbaum

Little to No Capital Specific:
* Free Money for Small Businesses and Entrepreneurs by Laurie Blum
* Finding Money: The Small Business Guide to Financing (Small Business Series) by Kate Lister, Tom Harnish
* Financing Your Business Dreams With Other People's Money: How and Where to Find Money for Start-Up and Growing Businesses by Harold R. Lacy
* No Cash No Fear: Entrepreneurial Secrets to Starting Any Business with No Money by Terry Allen
* Starting on a Shoestring: Building a Business Without a Bankroll by Arnold S. Goldstein

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 2

There are three general types of consultancies, and they're based on their core strengths: effeciency, experience, or expertise. (This from David Maester, if you're going to be a consultant, learn his stuff.) So, figure out which one you are, and then your strategic decisions will fall into place.

If you are about effeciency (bookkeeping, telemarketing, tax preparation, etc.) you're going to have a broad base of systems and people that implement one thing seamlessly. You'll invest time and money into systems, people, offices, etc. Your prices will look more like commodity prices, and you'll get ahead by having a smoother system rather than smarter people.

If you're about experience, then you can't leverage your ideas as easily. You've got to invest more on the learning curve: who's done this enough times to be productive, besides yourself. This is the most typical kind of consultancy. You'll put a website together and keep your eyes out for other experienced professionals that create a symbiotic relationship. You can use systems, assistants. etc., but not too much. Engineers, computer programmers, some accountants, lawyers tend to fit this category. Be sure to collect testimonials here, they prove your experience.

If you're truly expert, then the focus is the MOST narrow. You'll invest in education (PhD +) and the top gigs. This is stuff like strategic consultancies, high-end lawyers, etc. You'll be investing in exposure to the right people here.

Take a look at David Maister's (sp?) stuff. Also, Tom Peters will keep you going.

Good luck

Answer 3

Just make a website and let people e-mail you for consultations. You could also get an 800 number and charge people's credit cards for services.

Answer 4

As you want to start consultancu business, you dont need any capital as such, only expenses would be for looking for contracts etc.
As you are not buying any stuff to sell, only thing you would sell is your services so no investment required except the one mentioned above.