By: Dr. Chris Downs

Many solo consultants struggle, and often fail, because they were unprepared to open their companies in the first place. This lack of preparedness generally falls into five pre-launch categories:

1. Opened their practice with little or no business background.

Successful consultants typically have, or rapidly acquire, solid business skills. Consultants without those skills often struggle to establish their business, set up their bookkeeping, open bank accounts, and so forth. It’s essential to know the basics of opening and running a consulting practice from Day 1.

2. Launched the company without adequate business planning.

Just as a ship’s captain must have a destination in mind before leaving port, consultants must have a grasp on the nature and direction of their business. How will it be organized? Where might the business be in 1, 2, or 5 years? Most successful consultants write compelling, clear business plans and seek input from trusted colleagues and mentors before launching their companies.

3. Began the business with absent, ill-conceived, unclear, or bloated mission and vision statements.

I recall meeting new consultants when I used to hire them. When I asked about their mission or vision, I sometimes got long, rambling statements that told me one thing: they didn’t have a handle on what they were doing or where they wanted to go. As a hiring authority, I had no time for such people. Successful consultants write clear, succinct, and compelling mission and vision statements and are able to recite them easily, succinctly, and on the spot.

4. Based the company on abstract, impractical, or misguided objectives.

Some consultants have unrealistic notions about what they, or their consulting practice, will do for clients, or achieve for themselves. For instance, some think that consulting is easy, with substantial revenues flowing in from the start. Smart consultants have a firm grasp on where they want to take their companies, how much time and energy it will take, and how fast they hope to get there.

5. Located the company in an undesirable location (e.g., under a busy airplane landing corridor).

Wise consultants find good locations for their offices. Many select an unused room in their home, such as a basement, or an attic free of noise and distraction. They envision spending their workdays in that environment and pay attention to potential ambient noise problems (e.g., vehicle traffic, loud pedestrians, airplanes, passing trains) before they open their company.

If noise is a potential problem, successful consultants do what is necessary to soundproof their office or locate elsewhere, such as a rental office. If you’re not convinced of my point here, I urge you to go to the planned location of your office, spend a workday there: read a business book, develop a marketing list, search online for potential competitors, and call friends from that location. Were there distractions, loud noises, and so on? If so, how will you mitigate them before you open your business?

To maximize chances your brand-new consulting business gets a great start, it’s best to have:

· A grounding in basic business practices,

· Completed a solid business plan for your company,

· A short, clear mission statement you can share at a moment’s notice,

· Clear business objectives,

· A quiet, distraction-free office.

For much more on consultant preparation for opening a solo practice, I encourage you to read Solo Consulting: Insider Tips for Success!

Notice: This blog wholly reflects the views and suggestions of Dr. Chris Downs. Readers’ use of his views or suggestions are wholly the responsibility of the reader as reflected by their actions, reactions thoughts, statements, and behaviors. Dr. Downs accepts no responsibility for readers’ use of his words. Further, this blog contains no intentional or structured therapeutic intent nor is the content designed to harm or improve the psychological state of the reader. Readers are responsible for their own reactions to and/or use of any and all suggestions or advice.