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Training How-To: Launch a Training Consultancy
June 02, 2008
By Kendra Lee
Many businesspeople think about launching their own training consultancy as a potential evolution in their career. If you've already made the decision to pursue this goal, here are some of the first steps to take toward possible success:
Step 1: Take an honest look at your own competencies and think about the type of work you like to do. Doing so will help you to focus on what your initial service offerings should be (i.e., skills assessment, competencies, training development, measuring training ROI, or training delivery), and what you have to offer that companies will be willing to purchase. Always remember that you'll do well at what you enjoy and have experience doing.
Step 2: Define your services. You don't need to create elaborate marketing materials to do so, merely a piece that overviews your services, demonstrates you are serious about your business, and highlights your credibility. With a solid understanding of the services you will deliver, you'll be able to easily articulate your expertise to others and tell your own story in a convincing, concise manner, without a lot of fluff.
Step 3: Create your own biography, highlighting your expertise and—more importantly—your quantifiable results from past projects. Accentuate the roles you have played and responsibilities you have held. Include a list of recently completed projects. Potential clients will be most interested in the numbers you've generated and examples of your work, so be sure to give them what they'll want to see.
Step 4: Secure a list of references. This will require that you contact the people you'd like prospects to speak to, and make sure they're "on board," without leaving anything to chance. These conversations also will give you the opportunity to ask for an even stronger reference—a testimonial letter.
Step 5: Determine your hourly rate. Talk to others in the industry, including companies and peers, and find out what people are willing to pay. You will be asked your pricing, so know if you are going to price by the hour, or by the project. If you are pricing by the project, determine how you will scope the project. All this information will be required for your first quote or proposal. Knowing how and what others are charging will help you ensure your bid is in line with the market.
Step 6: Align yourself with other professionals who already are actively selling the services you want to be part of. KLA Group, for example, often works with training consultants and subcontracts work to them based on their level of expertise and existing needs. Similarly, there are other companies and firms actively seeking consultants who bring strong skills and are willing to work on a subcontracted basis. It's a great way to get started.
Step 7: Be seen. None of the first six steps is more important than making yourself an active part of the industry in which you want to consult. This means you should make it part of your schedule to attend events, join relevant organizations, and contact the movers and shakers. Also, don't overlook the importance of crafting useful e-mail and phone messages that will get the attention of key associates.
Kendra Lee is president of KLA Group. Specializing in the IT industry, KLA Group helps companies rapidly penetrate new markets, break into new accounts, and shorten time to revenue with new products in the small and medium-sized business (SMB) market.
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