Strategic Startup: Founding a Consulting Practice

1. Strategic Startup: Founding a Consulting Practice Best Practices in Running Your Communications Consulting Business Fairleigh Dickinson University – Madison, N.J., July 22, 2014 Barbara ZelaskoCommmunications Management

2. Personal Assessment • Do you really want to be a consultant? • Are you just between paid positions? • Are you truly entrepreneurial? • Can you self-promote with confidence? • What do you have to offer? • Your core capabilities • What do you really want to do? • What are your values? • Define your personal and business principles • How do you see your own worth? • How do you view your clients? Barbara Zelasko Communications Management

3. Situation Assessment • Times have changed—Employers may see consultants as freelance or in transition • Are you willing to take a contract position through a recruiter—this is a temporary job, not true consulting • Do you have the constitution to assert yourself as an authority? • Are you in it for the long term? • Examine your commitment • Are you willing to manage employees and vendors? • Manage client expectations? • Choose your clients • Is the working relationship tenable? • Does your client have your back? • Will they pay you? Barbara Zelasko Communications Management

4. Strategic Business Planning • Define scope of services • Articulate your concentration • What is your point of difference? • Determine your target market • Not just industry • Dollar range • Terms – markups? • Geography • Create your business strategy and marketing plan—on paper • Do you require a complete business plan? • Are you going to be a 1099 worker, corporation, LLC • Expanding Services? • Build in flexibility Barbara Zelasko Communications Management

5. Earning Clients • Network • Trade association participation bears fruit • Deploy your marketing plan • Online presence—keep it professional • Print? Speaking engagements? • Create your image • Reflect your truth - Let go of ego • Accept your value - Overcome insecurity • Image Materials • Portfolio – Online, Take along, Leave-behind • War stories • Business cards Barbara Zelasko Communications Management

6. Retaining Clients • The reputation you create for your clients is your reputation • Focus on client needs • The money will follow • Be honest and fair • Maintain consistently high standards • Language, style, and professional communications guidelines • Performance • Treat employees and suppliers well Barbara Zelasko Communications Management

7. Operations • Set borders • Hours of operation • Timing, condition, and format of materials from clients • Be cautious about pro bono work—volunteer judiciously • Keep your discipline • You are at work at home or in your own office • Make sensible business decisions • Plan for expenses—you have to pay taxes and expenses • Hire a CPA • Reinvest in your business—updated technology • Save—your accounts could disappear overnight • Be ready to consider unforeseen opportunities Barbara Zelasko Communications Management

8. Reconsider the Big Step • What kind of bird are you? • Do you want to put a toe in the water or take flight? • Think before you leap Barbara Zelasko Communications Management