4 Things You Need to Think About When Starting a Consulting Business

If you are in the later years of your life or have been working in your industry for a number of years as a driver, you may be thinking that it’s time to get out of the truck and begin a new career as a consultant. This often happens to people who have been downsized and find themselves unemployed after holding an executive position. Many find that the positions available for them in the marketplace are underneath their pay grade or are junior positions. This gets most thinking that becoming a consultant may be the answer, but is it?

Starting a consultant business is no easy task and like any other business a

Bruce Outridge
Bruce Outridge

business plan is suggested. Before you dive into business plans and print up business cards there are a few questions you should ask yourself. The first question is possibly the hardest, what do you want to consult in? I like to be unique in my business so unless you are planning on just becoming another safety consultant you may find you have quite a bit of competition. Your second question is whom is your target market? Who will want your services? If you don’t have clients willing to pay for your services you may find that you have a business with nothing to do. The last question is about finding the timeline to when you want to begin your new venture. You will need to do some planning and you want to make sure that you have income coming in as you plan your transition.

There are many more questions that have to be answered and a business plan is certainly the vehicle to help you answer those questions. You may need certain types of training depending on the area of expertise that you decide to follow. You will then have to think about business set up, training materials, marketing material, insurance, and more. Focusing on what you like to do and what you are good at is the first part of deciding whether a business is for you. Possibly the most important question you should ask yourself before any other question is this: are you the type of person that is willing to put in the work and struggle required to be a business owner? If so then start your homework and follow your dream. The best place to start that homework is to subscribe to The Lead Pedal Podcast with career and business information for those in the transportation industry.

About the Author

Bruce Outridge is an entrepreneur and transportation consultant with over 30 years of experience. He is the author of various business books for the trucking industry and host of The Lead Pedal Podcast for professional truck drivers. To learn more about Bruce and his work visit his websites www.outridgeenterprises.ca and www.theleadpedalpodcast.com