Business Consultant

Startup Costs:$10,000 - $50,000
Home Based:Can be operated from home.
Part Time:Can be operated part-time.
Franchises Available?No
Online Operation?Yes

THE BRIEF

If you like the idea of coming in to help other companies deal with change, which could range from internal reorganization to revamping the public face of the business, being a business consultant could be for you. A background in project management, marketing and publicity and communication would serve you well in this context. In addition to helping individual clients over a longer period of time for a specific initiative, you could also offer one off consultations, write blog posts, speak at events and conferences and teach workshops about your particular area of expertise.

ASK THE PROS:

How much money can you make?

The average business consultantsalaryis $72,639, according to careers site PayScale.

What kind of experience do you need to have?

“You must assert your knowledge in the niche for which you were hired. Clients select you to work on their behalf because you know something that they don't. This means that you tell it to them like it is, and don't back down. Deliver the knowledge that they pay for. If they don't like it, so be it. If they disagree, so be it. Your deliverable is knowledge, and if you deliver it in a half-baked way, you're losing the quality of your service.” -Neil Patel, entrepreneur and online marketing expert

What’s the most important thing to know about this business?

“Early on, we were a catch-all branding agency, trying to be everything to everyone … We had too many clients to juggle and lacked focus. We ended up with some hits, sure, but we had way too many misses. Today, we reject more than 90 percent of the folks who knock on our door, and that's been the best move for our clients and our business. Deeper integration means better results, and better results means better case studies that demonstrate our work and impact. The job of a consultant isn't to have lots of clients -- it's to add significant value to every single client.” -Adam Bornstein, founder of Pen Name Consulting