Freelance Consultancy

Context

Businesses are transitioning into more professional outfits. This is increasing demand for domain experts. However, the smaller businesses who don't have a substantial budget, are looking at freelance experts for this expertise.
On the other side, there is a budding startup ecosystem. Such businesses also lack the budget to employ people on a full-time basis. So short term assignment based work is outsourced.

What's your expertise?

One should build a body of deep knowledge related to the subject. Your existing work may help build your expertise. Educational qualifications also help in building credibility. Continuos study to stay updated with the latest developments is important.

Pick a niche

Niche is a small well-defined segment of people who you may cater to. Who is going to require your services? Who is your target audience?

Try being as specific as you can. Now try and understand the characteristics of this niche and how you can tap them.

Network

Your niche needs to know that your services are available. e.g. If early stage startups is your niche, you may reach out to co-working spaces and give a seminar there.

You may also use platforms like Stratlancer, Fiverr, UpWork and list yourself as a consultant

You may also use social media to reach out to your potential audience.

Marketing

Inbound Marketing

Create a series of articles based on your expertise. Slowly this will generate readership and establish you as a known expert with a vast body of work. The process of researching for articles will also help you evolve your knowledge

Bootcamps/ Seminars

You may also deliver bootcamps related to your skillsets to an identified target audience. This will increase your visibility and give you a platform to understand varied views on the subject.

Website

Having a website goes a long way in improving your perception as an expert. Cover the following areas:

• About yourself
• Your areas of expertise
• Articles and related content
• Past projects and testimonials
• Awards, recognition and achievements
• Contact details.

Pricing

An opportunity cost plus pricing may be followed.

How much would you want to earn per hour * No of hours required

Alternatively, pricing may be based on the benefit that you will deliver if it is quantifiable.

Freelance consulting as a part-time business

We suggest freelance consulting to a number of our clients and colleagues who have passed out of premier B schools as a part-time business. This is a growing field with significant scope. There are multiple benefits to this arrangement:

• Flexible timings
• Enhanced income
• Reduced taxation by claiming business-related expenses like electronics, cars, traveling, etc
• Gaining recognition outside the workplace leading to improved career prospects

Note about the blog

At Finwisor, we wish to help people. Our motive for this blog is to spread ideas which can generate value. This will create a better world and generate employment opportunities. We have a number of ideas which can help build a fantastic career. We will be writing about these as and when we get time. Some of the ideas may also be pursued as part time businesses.

Each idea should be taken as just a starting point. These ideas will need to be fine-tuned.

Hope this helps :)