There is authority and stature in consulting that can rarely be found in management positions, even executive positions. The authority comes from calling the shots as a business owner and making sure people know they need you; the great reputation comes from being the very best in your field…and making sure people know it.
But there is a not so subtle difference in owning your own business and owning your own consulting firm. Lots of people own businesses. My fiance owns a deli, my father owns a tiny publishing business, and my mother owns a bakery. But owning your own consulting firm lets people know that you are the cream of the crop in your field – and if they want to rise to the top like you have, they will hire you to help them.
Consulting firms, like the one you will soon own, can be anything from a one man show to a large agency bragging senior and junior associates. Most consultants make their day to day income from coaching and mentoring individuals in the field – charging anywhere from $300 (for junior level staffers) to $500 (for senior executives) per hour. They also help clients with organizational development, strategic and financial planning, and a bunch of other services including workshop facilitation, board and staff retreats. And if they like to speak in front of audiences, many consultants make thousands of dollars only talking to a crowd for a few hours about their experiences and knowledge.
While it’s not as easy as 1-2-3 to quite your job and start making $5,000 a day as a consultant, it’s certainly not as challenging as it looks – especially if you are extremely good at what you do and have knowledge that few can match. Start off as a moonlighter, which is the term used when someone has a “day job” but works on their own business in the evenings. Make a uncomplicated business card for yourself and during your lunch hour at work, travel to chamber of commerce or rotary meetings where you can network and talk to people about your new consulting practice.
It is not too difficult to pick up a little client or two this way, and once you do a super job for them and build confidence in yourself you will begin to branch out and up. People will hear about you, your phone will start ringing, those uncomplicated business cards you handed out at the rotary meetings will change hands and generate bigger clients, and you’ll begin to realize that maybe you really can quit that boring job and make it big on your very own.
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