How to Start a Financial Consulting Side Business

 

## How to Start a Financial Consulting Side Business

Starting a financial consulting side business can be a great way to leverage your expertise and earn extra income. Here are the key steps to get your financial consulting business off the ground:

### 1. Assess your skills and choose a niche

Take an honest look at your financial skills and experience. What areas are you most knowledgeable in? Some potential niches for financial consultants include:

- **Personal finance** - helping individuals with budgeting, investing, retirement planning, etc.

- **Small business finance** - advising entrepreneurs on accounting, taxes, financial projections, etc.

- **Specialized industries** - focusing on industries like healthcare, real estate, or tech

Choose a niche that aligns with your strengths and interests[1][2].

### 2. Develop your offerings and pricing

Decide what specific services you will provide. Will you offer one-time projects, ongoing retainers, workshops, etc? Clearly define your offerings and how you will deliver value to clients.

Next, determine your pricing. Consider factors like your experience level, the complexity of the work, and market rates. A good rule of thumb is to charge 3-5x your hourly rate as an employee[3]. 

### 3. Set up your business

Choose a business structure (sole proprietorship, LLC, etc) and register your company. Open a separate business bank account and credit card. Invest in basic tools like invoicing software, a CRM, and a website[1][4].

### 4. Build your brand and marketing

Develop a professional brand identity including a name, logo, and website. Optimize your LinkedIn profile. Leverage your existing network to find initial clients. Implement marketing tactics like blogging, email newsletters, and social media to attract new leads[2][4].

### 5. Deliver great work and grow

Provide excellent service to your first clients. Aim to over-deliver and get referrals. Continuously look for ways to improve your offerings and streamline your processes. As you gain traction, consider expanding your team or creating digital products to scale[3][4].

The keys to success are choosing a profitable niche, delivering great value, and consistently marketing your business. With focus and persistence, you can build a thriving financial consulting side gig. Let me know if you have any other questions!

Citations:

[1] https://www.seekahost.com/how-to-start-a-consulting-business/

[2] https://blog.hubspot.com/sales/consulting

[3] https://roostervane.com/how-to-start-a-consulting-business-on-the-side/

[4] https://luisazhou.com/blog/start-a-consulting-business/

[5] https://www.linkedin.com/pulse/how-start-side-hustle-consulting-jason-alleger

[6] https://www.consultingsuccess.com/how-to-start-a-consulting-business

[7] https://www.reddit.com/r/Entrepreneur/comments/u42dh0/quitting_my_170k_job_in_finance_and_start_my_own/

[8] https://www.thimble.com/blog/how-to-start-a-consulting-side-business