Businesses hire consultants to identify and resolve issues that the company is incapable of handling internally. Consulting firms develop expertise focusing on particular business types. To expand your consulting practice, expand your consulting capabilities. Here are seven must have methods to multiply your business consulting capabilities.
1. Identify Multiple Business Markets
Look at a variety of business markets such as technology, manufacturing, or hospitality. Examine many business categories. For example, there are businesses associated with technology such as telecommunications, medical, automotive, and aerospace just to name a few.
2. Develop Multiple Business Models
Businesses associated with each category have problems and issues unique to the particular business. Identify problems and issues commonly encountered by each business.
3. Select Growing Markets
Which business markets are growing, stagnating or shrinking? Obviously, you will want to select businesses in markets that are growing.
4. Research Potential Client Base in Each Market
Analyze the types of clients found in each market and match them to your areas of expertise. If your consulting strengths are in technology, focus on businesses with a technology slant such as aerospace, medical, or automotive.
5. Cultivate Prospects Consistent with Your Niche
Once you identify the industries associated with your potential client base, cultivate relationships within those businesses.
6. Develop Best of Breed Methodologies
Your consulting methods and practices separate you from your competitors. Develop ‘best of breed’ methods and practices.
7. Plan for the Long Term
You want to keep your clients for the long term. As industries mature, new problems and issues emerge. Continually update your solutions capabilities.