Professional Services
Many professional services businesses are consulting firms. While some consulting firms only offer advice and guidance others provide specific services, such as business accounting, tax preparation, financial management and project management. Do you have in-demand expertise of any sort? Are you a human resources professional, a public relations practitioner, social network specialist, talented business writer, marketing genius or a technology services pro? All these skills can be the basis for a successful small business when combined with an entrepreneurial spirit. It is possible to start-up a professional services business with minimal capital, because the product you are selling is your expertise. There may be some overheads including setting up an office, employing office staff and possibly an bookkeeper, stationery, printed literature to advertise your services, as well as legal expenses such as permits, contracts, membership fees and business insurance. Make a list of pursuits you enjoy and do better than most people. Collect pictures of your field of interest and scour magazines for relevant information. Are you a good cook? Are you a genius at fixing things around the house? Do people admire your talent for making clothing or soft furnishings? If you have a particular skill or hobby, you could turn it into an income-generating business. Do you prefer working indoors or outdoors? Write a brief outline of each business idea that occurs to you, no matter how outrageous they might seem at the time; combine different ideas to create novel concepts. List all the positive aspects of the idea. Do you have a qualification in this field? Would working as an apprentice help you gain the required expertise? Do you like working with people? Is this a service or product that no one has touched yet? Can it be manufactured or provided economically and easily? Examine the viability of each idea. Entrepreneurs are dependent on feedback; conduct informal market research by talking to people already linked to the specific industry or trade. Listen and learn from people’s opinions on matters relating to the business idea.
- Make sure your resume is comprehensive and current;
- Ask former employers and customers for written references;
- Utilize Social Networks to promote your professional services; have a list of references on hand if you need to present them to potential customers;
- Look for opportunities to develop mutually beneficial relationships with other businesses. For example, if you are a social network specialist you could seek out a firm that specializes in Web design to undertake their social network management and Search Engine Optimization (SEO). Offer to refer your clients to them when they need a Web site makeover if they agree to a partnership arrangement.
Ideas for a professional services business:
- Energy Conservation
- Consulting Seminars
- Health Plan Administration
- Growth Management and Strategies
- Human Resources Consulting
- Office Space Solutions
- Business Development
- Professional Security
- First-Aid Services & Training
- Office and Home Cleaning
- Event Planning Services
Contact Theresa (ecottage@gmail.com) to create a Business Plan for your new enterprise.
