If you’re thinking about how to start a consultancy business in Nigeria this article gives you glue on how to kick start. The first thing in starting a consultancy services organization is to determine the kind of problem you want to solve, and the availability of the market; that is “customers”. Consultancy is a business opportunity for anyone with professional experience, whether educated not to provide professional advisory services that solve a problem.
What information do you have that can help someone; groups of people or organization solve a problem?
Below are few areas a consultation services may be needed which you can provide.
Health care.
Engineering
Business management
Legal services
Fashion Consultant
Food and Nutrition
Estate management
Marketing
Education etc
These are few areas one can venture into and make good money depending on your level of experience, expertise, exposure and packaging.
What do you need to start this business?
Experiences: – this is the majour prerequisite to start up a consultation business. Experience is the most needed asset in consultation business, if your target markets are multinational you must know how multinationals operate, you must have a professional certificate and a good number of working experience in a similar organizational environment. But if you target individuals as mechanic engineer what you need is versatile knowledge about the field.
You will also need to incorporate your business name if you must consult for all categories of companies. But you can start first to raise money for incorporation but if you have the money is better to start up with a registered business name.
- Identify your market: – this is very important, for instance, you want to go into business consultancy, your market (customers) becomes SMEs and entrepreneurs who want to start up their own business or those that want diversification or companies that need solution to their marketing problems, staff training and development etc.
- Packaging: – your strength lies in the experience you have gathered in a particular field, the idea becomes when it is packaged as a solution to a problem. When we talk about packaging, what do we mean? Register your business name, design business logo, design website or blog, develop your business plan, source for resources, build up confidence( it is a gradual process), write proposals and distribute to companies, institutions and individuals that fall within the scope of your business and finally look presentable all the time.
- Marketing: – you must prospect for customers, share fliers, tell friends and associations and participate in trade exhibitions. You can also consider searching engine marketing and social media. These systems of marketing have been considered to be very effective for small businesses with a small marketing budget.
How much do you need to start up a consultancy service?
You don’t need much to start; the most valuable asset in this business is your experience.
Consultations mainly take place in your client’s premises therefore, you may not need to rent an office apartment at startup, you can use your house as a contact address or a friend or relative office address.
A business website is not very expensive. You can even start with a registered blog that cost 5,000 to 10,000 naira to register and design. You may need your personal printer/pc or use the business center to produce materials such as a proposal. Use email to send most of the proposals to companies that you cannot reach initially due to finance.
How do you determine your price?
The line of business consultation and the target market you’re in to serve determines the price. If you target multinationals, your price must not be too cheap because the kind of people you will hire to work with you will be expensive too. Material required and time must be considered before you give your final charge. The same with when you target SMEs and entrepreneurs, and individuals.
How do I get customers?
- Marketing: – you must market your business, it is a must. Prospect for new clients, run classified advert if necessary, cold calling
- Word of mouth: – tell friends and relatives, your church members and associations. Attend trade shows and distribute business card.
- Use Google Ad
