Copyright 2005 Cheryl Downing GOING IT ALONE: Starting a Professional Consulting Business Silicon...

Copyright 2005 Cheryl Downing

GOING IT ALONE: Starting a Professional Consulting Business

Silicon Valley Engineering Council

April 30, 2005

Cheryl Downing

408-257-1049

[email protected]

http://www.cheryldowning.com


Launching Your Business

Determine your entrepreneurial personality– SBA self-test “Do you have what it takes?”

Write a business plan Set up your business operations

– Example: business licenses, accounting, taxes, loans, certifications, minority/veteran programs

Marketing - Promoting your business Sales - Propose, negotiate & close Continue to grow your skills (business management,

leadership & technical) on an ongoing basis


Write a Business Plan

Description – What services will you offer? Marketing:

– Who is your customer?– How might your services benefit them?– How will you connect with them?– What obstacles might impact your success, e.g. approved

vendor list, certification requirements, budget cycles, industry sales cycles?

Competition: – Who is your competition?– What are their strengths & weaknesses?– Determine your competitive advantage/value proposition

Financials


Marketing - Promoting Your Business

Inform, don’t sell– Treat prospect like you would like to be treated

Capitalize on your strengths in marketing material– Examples: quantifiable results, awards, testimonials,

high profile connections (companies/people/training) Determine ways to gain visibility

– Examples: referrals (from past connections), presentations, white papers, business networking (in-person & virtual), industry-related volunteering, cold calls, mailings

Build alliances, especially if sales is not a strength– Examples: partnerships (informal & formal),

subcontract through larger consulting organizations


Sales - Propose, Negotiate & Close

Proposal writing

– Gather pertinent info about your prospect

– Emphasize benefits from prospect’s perspective Negotiation preparation

– Prioritize key points for you & (expected for) prospect

– Clarify what points are non-negotiable (time, cost or quality) to you & prospect, i.e. deal breakers

Address the prospect’s concerns directly If there is not a fit, move on to the next prospect


Startup Resources (Free or Low-Cost)

AskNow.org – California reference librarians The FTC (Federal Tech. Ctr.) - www.TheFTC.org SBA - www.sba.gov

– Silicon Valley - www.ecenteronline.org SBDC - www.sba.gov/sbdc/sbdcp.html

– Silicon Valley office - www.siliconvalley-sbdc.org– Tech. Assistance Program – www.sbdctap.com

SCORE - www.score.org– Silicon Valley office - www.svscore.org

Small Business Innovation Research & Tech. Transfer Programs (SBIR/STTR) - www.sba.gov/sbir/


Minority/Women/Veteran Resource Examples

Disadvantaged 8(a) - www.sba.gov/8abd/ National Minority Supplier Development Council -

www.nmsdc.org MWBE.com - Minority & Women Owned Business Resource National Women’s Business Center -

www.womensbusinesscenter.org WomenBiz.gov - www.womenbiz.gov Women's Business Enterprise National Council -

www.wbenc.org Veterans - Office of Veterans Business Development -

www.sba.gov/vets/


Launching Your Business - Book Examples

Accidental Entrepreneur by Susan Urquhart-Brown Art of the Start by Guy Kawaski The Consultant's Calling: Bringing Who You Are to

What You Do, New & Revised by Geoffrey Bellman The Consultant's Quick Start Guide: An Action Plan

for Your First Year in Business by Elaine Biech If You're Clueless about Starting Your Own Business

by Seth Godin Getting Started in Consulting by Alan Weiss


Business Operations - Book Examples

Keeping the Books: Basic Record Keeping and Accounting by Linda Pinson

Small Business Start-Up Kit for California by Peri Pakroo, J.D. (Nolo Press)

Working for Yourself: Law and Taxes for Independent Contractors, Freelancers & Consultants by Stephen Fishman (Nolo Press)


Business (& Marketing) Plan - Book Examples

Anatomy of a Business Plan by Linda Pinson The Business of Consulting by Elaine Biech The Consultant's Manual by Thomas Greenbaum The Contract and Fee-Setting Guide for Consultants

and Professionals by Howard L. Shenson How to Succeed as an Independent Consultant by

Herman Holtz Market Planning Guide by David Bangs The One Page Business Plan by Jim Horan Value-Based Fees by Alan Weiss What to Charge: Pricing Strategies for Freelancers

and Consultants by Laurie Lewis


Promotion – Book Examples

Flawless Consulting: A Guide to Getting Your Expertise Used by Peter Block

Get Clients Now by C.J. Hayden Guerrilla Marketing for Consultants by Jay Conrad

Levinson, Michael W. McLaughlin How to Acquire Clients by Alan Weiss How to Establish a Unique Brand in the Consulting

Profession by Alan Weiss How to Make It Big As a Consultant by William Cohen Million Dollar Consulting by Alan Weiss The Ultimate Consultant by Alan Weiss


Promotion – Industry Association Examples

Association event listings (for learning/ presentations): Craigslist.org; WorkIt.com

Associations on the Net, Internet Public Library, Univ. of Michigan - (www.ipl.org/div/aon/)

Engineering Societies in Silicon Valley - www.svec.org/members.html

Institute of Management Consultants (IMC) - www.imcnorcal.org; www.imcusa.org

Professional & Technical Consultants Assn, (PATCA) - www.patca.org

Social Networks - LinkedIn.com, Ryze.com


Proposal Writing – Book & Website Examples

The Consultant's Guide to Proposal Writing by Herman Holtz

Handbook For Writing Proposals by L. Sue Baugh, Robert Hamper

How To Write A Proposal That's Accepted Every Time by Alan Weiss

How to Write Reports and Proposals by Janis Chan Persuasive Business Proposals by Tom Sant Proposal Writing by William Pfeiffer, Charles Keller Strategic Proposals by Robert Kantin Successful Proposal Strategies for Small Business by

Robert Frey Proposal Writing & Gov’t. Contracting –

www.proposalwriter.com


Negotiation/Sales – Book Examples

The Complete Guide to Consulting Contracts by Herman Holtz

The Consultant’s Proposal, Fee And Contract Problem-Solver by Ron Tepper

Getting Ready to Negotiate – The Getting to Yes Workbook by Roger Fisher & Danny Ertel

New Strategic Selling by Stephen Heiman & Diane Sanchez

New Conceptual Selling by Robert Miller, Stephen Heiman & Tad Tuleja

You Can Negotiate Anything by Herb Cohen

Copyright 2005 Cheryl Downing GOING IT ALONE: Starting a Professional Consulting Business Silicon...

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