1. Research the Market: Assess the need for management consulting services in your area and begin to map out a plan for how you can fill that need.
2. Develop Your Business Plan: Outline your goals, target market, budget, and how you plan to finance your business.
3. Choose an Entity Type: Decide whether you will operate as a sole proprietorship, partnership, corporation or limited liability company (LLC).
4. Register Your Business: Register with the Secretary of State and obtain any necessary business licenses and permits in order to legally conduct business.
5. Establish Your Business Finances: Open a business bank account and credit cards, and set up an accounting system to keep track of your income and expenses.
6. Obtain Insurance: Invest in the appropriate types of insurance such as liability, workers’ compensation, property damage coverage and professional errors and omissions.
7. Create a Brand: Create a logo and tagline that will define your brand and develop marketing materials for your business.
8. Network and Market the Business: Attending seminars, industry events, trade shows and networking with other professionals in the field can help you to gain exposure for your consulting business.
9. Create Your Website: Develop a website to showcase your services and allow potential clients to contact you online.
10. Hire Professionals: Consider hiring professionals such as business advisors, legal counsel and accounting staff as needed for your business operations.