T + D Online - starting a training business - Brief Article

Training & Development, Oct, 2001

Community

At some point, most corporate trainers have thought about starting their own business and charging a fair nickel for their expertise. Here's what ASTD's Consulting Practice Community had to suggest when a member asked, "What is the best way to break into [training consulting services] while maintaining a consistent salary and standard of living? Who can I call, and where do I start?" I suggest that you connect with the professional organization, Institute of Management Consultants. They're rich with information and probably the most helpful group of people I've been in the same room with. They really try to ensure you're successful, no matter what your level of experience.

imcusa.org

Katrina Kennedy

Start off by reading The Business of Consulting by Elaine Biech. If after reading that book you still want to consult, then I suggest you spend a year building your business while holding onto your full-time job. That way you'll still be able to put food on the table, clothes on your back, and pay your bills.

Phil

Start by setting up your business while still in your present job (business cards, Websites, networking). Then when you're ready, take a part-time job to keep at least a trickle of money coming in. That may take a year, and you may find yourself working seven days a week for a while. In this initial stage, your primary goal should be marketing your services and getting your name out there.

Pam Thorne

Bottom line: It's never as easy as you would think, and it will always take longer than you anticipate.

The best place to start, in my opinion, is with a business and financial plan. What services will you offer? How will you differentiate yourself? How will you market your services? How much seed money will it take to move you to success during the first several years?

A lot of low-cost business planning assistance can be obtained through the Small Business Development Centers on [U.S. college] campuses. I often contract with the local SBDC to provide advice to budding entrepreneurs.

Another suggestion: Talk with as many of the local consultants as you can. Ask them about their experiences and lessons learned.

Dan