Setting up an advisory or consultancy business…
The idea of setting up an advisory or consultancy business is one that many thousands of people – if not millions – have every single year, and for good reason: instead of slaving away on a job that doesn’t sound appealing in the slightest, you get to use your skills and qualifications to work for yourself and reap all the rewards and accolades. But what about the pit-falls that may happen along the way? Well, now we’re going to explore a few of them and by the end of this article everyone should be a lot more in the picture.
1) Choose your field wisely: whether you are setting up an NHS Complaints compensation company that sorts out NHS patients'claims privately, or opening a business which aims to train people to become consultants themselves, you need to make sure there is a demand for it and there is a demand for it where you want to be. Many people starting a new business have a problem because they have the perfect location but have no business. Always bear location in mind as the number 1 priority. There are exceptions, of course, but these are few and far between, such as online businesses or industries where clients are happy to travel vast distances. In other words, you’d have to have an exceptional business for it to be able to work with no physical clientele!
…you may be the most eloquent person in the world, versed magnificently in dealing with angry customers, but if you hire angry staff who don’t know how to deal with, say, complaints, then you will soon find yourselves in hot water…