Rank: Forum user
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I am seriously thinking about setting my own consultancy/training business up over the next couple of years. I have seen how poorly some people do it and I know that I could do it much better.
The fact of the matter is, I have no clients and no financial backing. Big negatives I know, but other people manage it. I have heard enough negativity about how big a risk it is, etc. I would love some positive advice, thoughts, comments and tips on how to get this off the ground.
If you have a magic solution to get over the negatives, please share with me.
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Rank: Super forum user
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Firstly , you need a business plan, - see your bank. Get PI insurance. Beware of cost- there are some stupidly costly operators in the field.
Secondly, you need clients. Concentrate on servicing the areas where you are competent and have experience of - there are so many safety bods operating in areas where they haven't got a clue and are out of their depth.
Thirdly, structure your payments scale accordingly.
Fourthly, develop or have developed a professional website and keep updated. Avoid referencing Regulations or re-issuing HSE generated or other bulletins. Create attractive and good quality business stationery- avoid cheap business cards.
Get yourself a good suit and quality work-wear for the environment you are targeting.
Remove all body adornments, studs, chains, earrings etc (if you are male) and cover up all tattoos.
Try not to be too sharp when you meet a prospective client. Don't play the " member grade" game. He/she will note that from your business card.
The above for starters- good luck. If you need a recommendation for PI feel free to PM me.
Jon
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Rank: Super forum user
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What i've been doing for the past 6 years is, although I'm working for my self via my own limited company i actually contract myself out to several company's.
I'm working with my latest company now for 2 years but also have one which I've been working for for just over 5 years.
Last week my company went Limited, so that how i did it.
The other thing is try and specialise in something, as opposed to just doing H&S, I'm into Construction H&S but i also do Environmental work and within Construction, they use schemes like BREEAM and LEED, which you can become an associate and specialise in Construction Sustainability.
Its something i enjoy doing, and the past 6 years or so i've just tried to concentrate on has much as i can in being top of what i do. (I was a Welder/Fabricator on sites in London previously)
Start up your Business and search for companies looking for Health & Safety Managers or Advisors, work for them on a self employed or Limited Company, and get more work as you go along.
Good Luck
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Rank: Forum user
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Thanks guys.
What do you think is more attractive to a client in relation to price structuring- a one off annual contract or a 'pay as you go' approach?
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Rank: Super forum user
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Leave the "annual contract fee" for the larger bods unless you want to go bust early.
Jon
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Rank: Super forum user
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Concentrate on developing a number of smaller clients. Leave the big boys to others. Firstly it takes time to get the big boys' business and you need cash flow now. Secondly, you then become vulnerable. If you lose one major account it can represent a large part of your income. If you lose one small account it isn't so serious and you can go out and get another. That is how I built a successful business in another area and the competition, who were concentrating on the big boys, never even noticed that I was there!
Be careful with any prospective new client. Read the small print in any purchase order, especially regarding payment terms. Particularly the big boys will often seek to impose extended payment terms. In other words they want to work with your money. To start with profit is less important than cash flow. No good making a profit on paper if you haven't got the money to pay the bills!
Chris
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