Hello everyone,Has any of you thought about starting your own consultancy? I am thinking a strategy oriented consultancy specialised in a particular industry or serviceWhat do you think is needed for successfully doing this? Thanks for your insight.

Contacts, networks and friends and family's cash

Don't listen to anon. He does not know the ropes. What you need is an opening then expand.

could you elaborate a bit more on that, gti?also i was hoping the more senior members of this forum would also have something interesting to add...thanks

How do you expect to find an opening except through client contacts - by advertising in Yellow Pages?

hilarious - I think, or the way I understood it, is that gti referred to 'opening' as a service not yet offered within the market.

Im interested in this one too, actually.

If you research the smaller fast-growing firms that feature on Top-Consultant.com and who are recruiting aggressively, you will find that almost without exception they were formed by people who had made it to a "business winning" level with a major brand consulting firm and were then able to leave that firm taking a strong client base / network with them.These people are able to trade on the fact that they are the calibre to have made it at major brand firms, but are now going to market with an offer that is either more focused or at lower fee rates than their former employer. Either of these USPs is very attractive to clients. The challenge is being able to win work and bring in revenues quickly and at modest cost - which is why those that are "rainmakers" find it much easier to set up their own firms than those that have not yet reached the stage in their careers where they need to start selling.Hope this helps - and good luck!Tony RestellTop-Consultant.com

Tony, thats a very useful answer. Thank you.I am afraid I am a junior (therefore not a rainmaker), with what I believe is a good idea. I guess I need to find a partner who might have the contacts. Is that plausible?

Don't run before you can walk.

Don't run before you can walk.

And don't walk until you can see (or at least smell) where you're putting your feet.

And don't look at where you are putting your feet until you put your shoes on.And dont put your shoes on until you have put your socks on.

When the seagull follows the trawler...

He who dares

This time next year we'll be millionaires!