Does anyone have their own consultancy business?

[ThankGoodnessForTea]

Hi,
I work in a fairly niche area in the NHS and we provide services to lots of other NHS trusts and private companies. I have realised, over time, there is an opportunity to develop a consultancy service offering advice on things to do with what we do and how it can make things easier for all.
Has anyone got their own consultancy business where they used their career as a starting point? I’m just interested to see what others have done - it’s something I’d like to do over 50.

I do.
I spent years in Sales for big corporates and after dd I was approached by an old contact for some help with a company he was running. It kind of expanded from there and DH left his job 5 years ago to do IT consultancy within my company.
Your main issue with the NHS will be getting on the approved supplier list.
You will need Insurance and a LTD co as well and will need to be careful of IR35

Sorry to jump on this post, but @Hoppinggreen, I wondered how you would have approached getting clients had you not had your contact?

I’m keen to set up my own company once my current contract comes to an end, but I’ve only worked for major global financial services so getting on a PSL is near impossible. Thanks, and happy new year 🙂

No problem.
I got my subsequent clients mostly via networking and word of mouth. In some cases I contacted people advertising a job and seeing if they were open to making it a SE contract instead (a lot did)
Bear in mind though that my speciality is Sales and Marketing so it was probably easier for me than someone in a more technical role for example as the skills I was offering were also the ones I needed to sell my services.
I have actually been persuaded to go in house now after almost 15 years (although I have still got a couple of clients I do a bit for) and the reason they wanted me was my Consultancy background as it means I approach things slightly differently. My new employers are great and largely let me have free rein to do what I want as long as it contributes to the end goals and while being employed again after so long was a bit of a leap of faith I have to say that the fact I have just had 2 weeks holiday on full pay is nice

I've just retired from doing this for 16 years. The key is having a clear proposition and a very good network. And being patient, as it can take a while to get started. Joining professional groups helps, as does joining networking groups. I don't know the NHS, but getting on a preferred suppliers list is likely to be key too. It is for corporates, although a word of mouth recommendation is the best of all.

Appreciate I’m not the OP and have gatecrashed but thank you both as your insights have really helped.

I’ve done this for almost 20 years: first as a sideline to the original niche full-time role and then as half my freelance work after going self employed.

Can only say positive things about my experience. I’m choosing the work I love to do, it’s challenging and rewarding, I employ my daughter and life is never boring. Definitely give it a shot.

My strategy was to top google searches for the work I wanted and a background in this for myself and others helped a lot; much like the other poster who had a sales and marketing background.

If marketing is new to you, then try a few courses and then put a little website together. Start blogging about your work and surround the content with good SEO. It will come together over time. Be consistent.

The main thing is showing up for yourself: everyday regardless of whether else is going on. Be a pro 👍🏻

I recently had some career coaching as am at a major cross roads in life, I shared my dreams of setting my own consultancy up. The main barrier, and appreciate how ridiculous this is, is I’m not actually sure how to articulate what I’d offer!

I’m not sales and marketing (no competition from me here!), I’m a big old mix of transformation / project management / product management / troubleshooting / ops etc!

I’ve held quite senior perm roles (ie last one was a group head). This quarter I’m really going to research everything and decide if I am going to take the plunge or not! I’ve just walked away from lovely perm package for a PAYE contract at an old employer as a tentative step towards my goal… thank you again for your tips!

@MirrorMirrorApplePie

I recently had some career coaching as am at a major cross roads in life, I shared my dreams of setting my own consultancy up. The main barrier, and appreciate how ridiculous this is, is I’m not actually sure how to articulate what I’d offer!

I’m not sales and marketing (no competition from me here!), I’m a big old mix of transformation / project management / product management / troubleshooting / ops etc!

I’ve held quite senior perm roles (ie last one was a group head). This quarter I’m really going to research everything and decide if I am going to take the plunge or not! I’ve just walked away from lovely perm package for a PAYE contract at an old employer as a tentative step towards my goal… thank you again for your tips!

Remember that you don’t know what you don’t know and neither do lots of other people. Clients don’t always know exactly who or what they’re looking for.

Sometimes you get approached as they have a problem and a vague idea on tactics, but they’re not sure and you end up strategising together and then you’re a regular touchstone. Or you might be a good fit for a left field idea, then it turns out you are and then a door into a big empty space full of opportunity with lots of different clients opens up.

This is why blogging on your subject is so useful, as Google can get a grip on the range of stuff you do and just send the info out to the universe. It does eventually find its way home (in my experience).

Sounds like you have some fun times ahead; good luck with it! Be brave in all things. The worst that can happen rarely does.

@johndglynn - really appreciate your words, they've given me that boost I was looking for!

I am an Education Consultant. I sort of fell into it during lockdown when an online tutor friend started asking me to advise on UK schools for her overseas clients. It grew really quickly and then ground to a halt in the second lockdown, I nearly gave up but recently it has exploded again. I love it and I can run it alongside my full time job. I now have an online tutoring business too which my tutor friend runs for me.
Seeing the children get into their first choice school is so rewarding.