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How to start a successful engineering office

According to a survey by Savanta, the UK consultancy sector continues to grow.

Despite the impact of COVID-19, the Management Consultancies Association (MCA) Annual Report 2020 estimates it has increased 7% over the past year and is now worth £ 11.3 billion for the UK economy.

“Customers are investing in new technologies more than ever, whether it’s advanced analytics or machine learning. AI and virtual reality or support with the cloud introduction. The consulting industry leads the way in driving technology change and transformation for businesses, and digital and technology consulting (25%) continues to lead the distribution of service line fees, followed by program and project management (19%). Management Consultancies Association (MCA) annual report 2020

The job market is changing, and more people are moving into independent, professional and advisory work. For many, this is due to changing circumstances, such as: B. Role layoffs, wage cuts and fewer opportunities. For others, it’s because they’ve found their passion and maybe their calling.

Do what you love

The so-called “gig economy” is growing as companies rely more on contractors and consultants to fill specific roles or gaps in organizations. If you can combine an industry gap or need with something you enjoy doing, then why not consider starting your own consulting firm?

There are several reasons to start a business and the benefits can be:

• More freedom and flexibility in working hours

• Diversity and diversity of work – every day is different
• Career opportunities could improve
• The result can be higher and the opportunities for growth through scaling increase
• Learn more about a range of industries and improve your skills
• Have more fun!

What does it take to be a consultant?

The Cambridge Dictionary defines a counselor as “someone who advises people on a specific topic, someone who is paid to provide expert advice or training on a specific topic”.

The two key terms here are “expert advice” and “specific topic”.. This means that you need to have a specific skill in helping clients solve a specific challenge in order for the advice to work for you. In other words, find a problem a customer has and then find a way to solve it for them using your knowledge, experience, and expertise.

Starting a business can be daunting. According to the Bureau of National Statistics, 80% of new businesses fail in the first year, and only 42.4% of businesses founded in 2013 were still trading five years later in 2018. However, a planned and proven process can increase your chances of success.

You can start a business with just a laptop and phone.

Today, many successful entrepreneurs run a business from their living room with a webcam, phone, and laptop reaching thousands every day. Why are they so successful? They don’t have better technology and are definitely not suitable for a wide audience. You do business differently than before; You have developed a strategy, assessed the needs of your target group, created a customer database and paid attention to their conversion rates and the customer experience.

What do you need to get started?

There are few key points that you need to start your own consulting business.

Actionable tips::

1. Define. What problem does the customer have to solve?
2. Create value. Find a solution to the problem.
3. Nourish. Find people willing to pay for what you offer and build relationships.
4. Set up your business and clarify your goals. Prepare for success by laying the foundations.
5. Deliver. Find your market and share your solution with potential customers.

For a consulting firm, your job is to help people solve their most pressing problems. There are three reasons why they would pay you to do this:

1. You tried it yourself and it was unsuccessful.

2. You want to get there faster.
3. They want guidance from someone who has been there and done it.

What you create and sell helps someone move from their current location to their desired location so they can create their own value.

For more tips on starting your own journey and hearing from someone who’s started their own business, check out the free webinar. ‘How to successfully start a consulting company in challenging times‘on December 1, 2020 at 12.30 p.m. GMT.

You can now also book a place for the virtual course Start an engineering office in four weekswhich starts on February 5, 2021.

For more information on training and webinars, see imeche.org/training or contact the team at [email protected] or +44 (0) 20 7304 6907

Meet the trainer:

Matthew Laskaj

Matthew is the Chair of the IMechE Committee for the Scottish Region and Director of a successful engineering company. After working in various mechanical engineering industries around the world for 20 years, its redundancy allowed him to reevaluate the most important and decided to start a small business. Five years later, he runs a business he loves – following his passion for engineering while helping others.