1)Do Your Budget Projections
Every business has to have a proper system of budgetary planning. This is vital because you do not want to lose a potential contract because you can’t afford to take a plane flight to sign it!
If you are unsure, it will be advisable to meet up with friends in same industry. But do your homework first and check if they will be in direct competition with you; they may not give you accurate advice because they may reveal vital information about their core competencies. Alternatively, you can source out information from your business association.
2)Get a Private Banker
Every Consultancy needs good financial advice. Learn to delegate some financial requirements to professionals. They may actually help you to avoid pitfalls that can impede progress of your consultancy.
If you believe that foundation of your consultancy is built on a franchise or a first-mover opportunity, you should seriously consider getting private funding. However, before you start to “hit streets with your business plan”, get legal advice about protection of your intellectual property and do a background check on venture companies that you are approaching.
A big advantage of getting venture funds is that principal sum is much bigger and there is better support.
4)Consistent Pricing Plan
In order to be credible and professional, you should put serious thought in pricing plan for your services. The basis can be drawn from a Per hour/Per contract basis. However, you can make exceptions if you have intentions of creating alliances with you customers or embark in a co-branding exercise (online and offline).