Seven Steps to Start a Consulting Business

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Letter from the Lead Navigator:
Chart Your Course will soon be moving its home base! After 20 years in Conyers,
Ga., we are packing up and moving to Raleigh-Durham, N.C. We are moving to be closer
to some of our clients, our children and our two grandchildren.
We have made so many friends and enjoyed being part of the incredible community
in Rockdale County. With our house on the market, we don't know the exact date of
our move, but expect it will be sooner than later. We'll keep you updated!
Also we have continued to experience an incredible response to our Build Your Business
Boot Camp! If you've ever thought about starting a business or becoming a consultant,
sign up today!

Helping you Chart Your Course!

Gregory P. Smith

President and Lead Navigator

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Seven Steps to Start a Consulting Business
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The baby boomer generation has been discussed, dissected and debated since its emergence
in the mid-1940s. Seventy-six million strong, the group was the center of a new
youth-oriented America with changing social norms, new suburbs, and growing modernizations
and opportunities.

Boomers have also dominated the American workforce. As they reach the winter of
their careers, their choices are certain to impact the economy. Will they retire,
work part-time or start new endeavors? According to MBO Partners, a support service
for independent consultants, boomers are a fast growing sector of the independent
workforce. Armed with decades of experience and connections, the group is leveraging
social media and cloud and mobile computing to build their businesses.

In its 2012 Independent Workforce Index, MBO Partners estimates that boomers account
for around a third of all independent consultants. A small portion of those workers
(around 20 percent) were consulting after retiring or unemployment, but the majority
were seeking new challenges and more flexibility, even if it meant a smaller paycheck.
Boomers also indicated a desire to make a difference in their industry and do something
they enjoy.

While the thought of becoming a consultant may be alluring, it also can be a daunting
task. Here are six steps to start the process.

1. Own Your New Identity. Whether you are still working part-time or putting all
your time into your new business, own your identity. Don't introduce yourself to
potential clients with, "I'm starting to consult," or "I work part-time here, but
I want to be a consultant." Claim your title proudly, "I am a consultant for performing
arts organizations, or I am technology consultant."

2. Specialize. While it might be tempting to generalize your services so you can
reach more customers, specializing is smarter. Generalizing your skills means you'll
blend into the crowd and face more competition for new clients. Specializing helps
you stand out and connect with the right clients.

3. Set Your Price. A common question I hear from new consultants is, "How much do
I charge?" Avoid charging too little, or you might end up feeling resentful. Don't
charge too much or you won't be competitive for attracting clients. Research what
other people are charging, while factoring in your unique expertise. Also consider
the size or resources of each client when negotiating. Plus, be sure to research
any taxes you need to plan for so you're not hit with a large bill come tax time.

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Industry Facts and Figures
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Want happy employees? Don't we all! Consider these results from a recent survey
from Yast, an international software company located in Norway. Workers cited reasons
they would not leave their current employers. In this order here are the top six:
enjoyed their work, great work/life balance, felt connected to the organization,
believed they were making a difference, received praise and recognition, and were
rewarded financially for their work. For more on improving employee engagement,
visit our blog. [http://r20.rs6.net/tn.jsp?e=001QSYCGq00LH1537h2ngtaA9KGhqYQSFjaEj92NnQiv0inSexpx7iNDu0RPUulh3jcutLZmHo9RruEnIXugw4YC0_BAdltihfghqojLlAFhiYDW6So6uUhEWtGsj4p47BS72AT1dYjd7zje2qp2vudkwiJ7l7Gl_4nCcyNnXAjlPM5TPkV0D46VgTziw0WAPKswK4cqcO8P0RBfA3nMKdoOlwUvl2fNkZWyIajBJ63PtxnDSCgvuaFvwsE6bIwHaRIjGtJSifCOdPeOLfhocbCVGq_EEcgXnaIxLDqwId1bHKIgxjtSErYEbC-AjF511ujY9OotX6kTs3BJ_WQOh7qSPjrZ9KtT_L-XiH5oaJ9GU80uBq2e6o07J8lONM8lZOW]
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Gregory P. Smith
Lead Navigator
President

In This Issue

Feature Article
Industry Facts and Figures
DISC Training

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Build Your Business Boot Camp
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Ready to Build Your Business?
Sign up today for CYCs Build Your Business Boot Camp! Our first session starts Sept.
12, and seats are limited to just ten people. Visit our website for dates, details
and pricing.
Also, we are pleased to provide discounts for early registrants, military veterans
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scholarship to a deserving individual. To be considered, please tell us about yourself
and your business goals.

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