Probably not the right place to ask this, but I'll give it a shot. I became an expert in a specific area within capital markets, building software around that. It is a very niche thing in investment Banks and hedge funds. I'm thinking on starting an independent consultancy company to do just that, but no idea how to start, how to sell my services on these corporations, but no idea how to approach it. I was thinking I can target my self as a tech implementation partner? I've found that @capco is doing something similar within the capital markets business (but with wider targets). Anyone working in this company? Any advice?
Get a client first by calling up everyone on your network and figure how to build the business later on. Bodies can be added once you become a supplier
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Set up legal entity (LLC initially?), business bank account and find a CPA. Create a fee sheet with definition for arch service: consulting: $300 - 800 per hour. Silver service: 8 hours weekly, Gold would be more, etc. set retainer fee. Or discuss custom projects and then price them by milestone. To find customers, the absolute low hanging fruit is reaching out to friends and colleagues and existing customers. Decide on your social media strategy, meaning having a presence online but it’s been an eye on how much time you can spend on it each week. E.g Update LinkedIn and be active on there, crate YouTube channel, answer questions on Quora. Your social media part maybe it’s more like year 2. For year one I would say scope well where your services fit, what pain you solve, what benefit you offer and who is your target profile and plan to reach them on LinkedIn or through connections.
Thanks for these insights A couple of questions 1. How did you come up with that hourly rate? Are these hourly rates common along consulting? 2. About reaching out potential clients on LinkedIn, I'm never certain who is my right target,VPs (not sure if they have the ability to make desicions),MDs (certainly they can decide but not sure if they can see the need)
Well that’s where you need to start with, identifying your target buyer persona and their unique needs and pain points. Until you have this clear and you size your market, I would not make the decision to pursue this journey.