Let’s say you’re an small business consultant specializing in one specific facet of online business. For instance, if you solely focus on AdWords, you may be missing out on more lucrative contracts due to your narrow focus. What if most of the potential clients you meet need a “full package” type service, including graphics, back-end programming, structure, training and sales copy? Unless you find potential clients only interested in your particular specialty, you could be in for a tough time. Learning all the other aspects well enough to be an expert, while laudable, takes time which could be better served marketing to businesses. So what’s the solution?

As discussed above you could try to be a “jack of all trades,” and provide multiple services. But you run the risk of doing everything mediocre as opposed to excellent. And it may take you too long to become an expert in even one of the various fields that comprises a full-services Internet consultancy. You could try to outsource some of the work inexpensively but again you deal with the possibility of missed deadlines, little to no communication and an angry client.

So, if you can’t or don’t want to do it all yourself, and the idea of outsourcing is too risky to you, what to do? Network! Go to local business meetings, get business cards of people in your field at your local business center. In short, look for people that are experts in what you are not. Once you have done this, consider forming a partnership with them.

Why you would want to do this should be obvious, but here are some benefits:

As a group you can take on much more varied, complex and higher paying contracts.
You can each work your specialty, keeping in mind the overall goal of a particular project. This will allow you to get the project done quickly, rather than taking time to research and learn about things that may not be your specialty.
You can take on more clients at a time as a group than individually.
You can offer more services collectively than as a one person shop.
You get individual projects from each other as well.
Of course there are things to watch out for as well. Firstly, make sure that you are in agreement as to how long the partnership lasts. Is it only for a job or two, or are you thinking of creating a totally new company around your solution?

Next, make sure that when you speak with a client, you are all “on the same page.” There is nothing worse that not showing a united front as this undermines your overall credibility. After all, would you hire a firm whose partners were disagreeing all the time?

Communicate. Project meetings need to be a regular occurrence so ensure that things are on track and on schedule. This way, you can also iron out any issues you may have with parts of the project before they become crises.

Finally, make sure that the profits are equally divided. The key to remember is that if you can find a way to work with other small business consultants together, you can reap the rewards of higher paying, high profile projects and the satisfaction of know you don’t have to do it all yourself.

You can really make enormous amount of money online as long as you are knowledgeable in running any type of business. You can offer your expertise to those entrepreneurs who are just starting up or those who are struggling to improve their sales and revenue.

The good thing about business consulting is that you can work from the comforts of your own home. You can relay your messages, offer your expert advice, and conduct trainings using the internet or your telephone. That would mean having more time with your family or doing the things that you are deeply passionate about while you get direct control over your salary and your working hours. Sounds fun, right?

Here’s how you can make money and excel at business consulting:

1. You must be a people person. Truth be told, entrepreneurs only work with consultants who are amiable or friendly. Well, who would want to work with somebody who is difficult to deal with? As a consultant, you need to have superb social skills. You need to be comfortable talking and working with other people. You must be a team member. You must have great disposition in life, you must be open to ideas, and you must always wear a smile on your face to easily put your clients at ease.

2. Attention to details. Running a business can be sometimes tricky. You skip or miss one important element, your business will come crashing down. That is why, it is very important that you pay attention even to the smallest details that can have direct impact on the success of a business.

3. Be willing to do overtime. There are just some times that you need to extend your working hours depending on the assistance that your clients require from you. If you intend to make it big in this field, you need to leave a lasting impression to each person that sign up to your service. Go out of your way to make sure that everything they need is covered. At times, this may mean working for longer hours.

4. Increase your knowledge. Obviously, entrepreneurs will most likely to rely on your expertise. Thus, it is a must that you always have answers to their questions. Widen your knowledge on your chosen field by doing research on a regular basis. Work together with other industry leaders and if needed, get first-hand experience on the things that are relevant to your consulting business. The more you increase your knowledge, the better business consultant you’ll become.

Here are three key strategies to be more successful with clients;

1. CLEAR AGREEMENT

The very best favor you can do for yourself and for your client is to get to an absolutely clear agreement about your relationship and the work to be done before beginning.

If you prepare a written proposal — this is the perfect opportunity to very clearly and firmly set out the objectives, describe what you will (and will not do), the timetable, the measurements of accomplishment, payment terms, everything … without the brutal formality of a contract, filled with “legalese.

If you deal with entrepreneurs, as I do more often than not, they have no “norm” in mind for what proposals ought to look like, so you have great flexibility. If you’re dealing with association committees, government agencies or big corporations, you’ll probably need to be more formal.

Brief or long, formal or informal, one thing to strive for in your “documentation” is to anticipate and prevent every possible future misunderstanding or disagreement.

2. FREQUENT, CONTINUOUS, QUALITY COMMUNICATION

First of all, all past and present clients and targeted prospective clients, referral sources, important peers, etc. should be on a “VIP mailing list” and get a regularly published newsletter or some sort of email communication from you.

Second, clients with projects in progress need to be kept informed. Here’s an important tip: the client waiting for and anticipating results feels time pass differently than does the consultant working on their behalf. A week seems like an eternity to the client, a few hours to the consultant. You can keep off a whole lot of problems by keeping your clients informed of your work and progress.

Personally, I like to send unexpected emails for this purpose. I’ll get brief up-to date memos off to my clients early morning or before the close of a business day. Sometimes I will even record a message and email it to them for clarity. Time spent sending out emails and recording messages prevents hours of needless phone conversations.

3. MANAGING FOR PROFIT

One of the the things I notice with new and experienced consultants is that they lose their focus in general. They start giving away way to much advice for free and then they feel really crummy. Ask yourself, what is the purpose of being in the consulting business? Your primary purpose must be to make as much money as humanly possible from your expertise, time, energy, resources and client relationships. Of course, you want to deliver extraordinary services. And you want to have an impact in your niche. And you want your clients to prosper, etc., etc., etc., But the smartest business decisions get made when there is one governing priority taking precedence over all others.

One issue this leads to is that of “product.” One of the very few ways for consultants to gain “leverage,” and make money outside the box of billable work/projects, is through selling your clients useful products linked to your advice and expertise.

I strongly recommend developing products of your own to support your consulting activities.

People usually become a consultant after being downsized, fired or jobless for a few months. There are some that make the transition from full-time employee to consultant. However, I was downsized.

The only difference with my situation is that I was preparing to become a consultant. I had no idea that I would be downsized. Either way, it was one of the greatest things that could have happened to me. Let me give you the six factors that can make or break your career as a consultant. Here goes:

Having a set of marketable skills and a bucket of services?
Target market: Choosing a target market(s) and areas of specialization with substantial, consistent, growing needs and demands that you can fulfill. You can choose more than one. I’ve worked with colleges, high schools, boards of education, hospice organizations, salons, spas and consultants. You don’t have to choose one. You can date a few until you find the right industry for your skills, background and expertise.
Knowing how to effectively market, sell and promote yourself and your services to a chosen industry. A systematic approach works best. I’ve developed a system for myself to use as I manage project while still having to promote myself.
Being willing to sell, promote and market your services regularly? Again, a systematic approach will help.
An ability to manage your consulting business for profit. If you don’t want to get paid then volunteer but don’t mix the two.
Being able to deliver. You’ve got to be able to fulfill the promises of your promotion. This is not like a path-mark coupon where you can get a rain check for an item that’s on sale but not on the shelf. You’ve got to be able to satisfy your clients, with positive results.
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