FROM EMPLOYEE TO FOUNDER

Famous and successful entrepreneurs always say the first step in building a successful business is to identify problems and develop solutions. When you are building your own practice, you must capitalize on your expertise by first discovering your niche. Having a well-defined niche will help you stand out from the competition and attract clients who are precisely seeking the services you offer. Now you might be saying to yourself, “Great! But how do I discover my niche?” Well, that tells me you’re enjoying this post and I’ll tell you exactly what I did to discover mine.
Discovering your niche doesn’t happen simply because you found something missing in the market. In the vast world of Industrial Organizational Psychology, my niche is change management, which was not on my bingo card post-graduation. I discovered my niche by experiencing the real world. I started my career as a talent manager, but my first job out of college taught me the importance of change management and communications strategies. I leveraged the knowledge of my colleagues, shared my eagerness to learn and began my trajectory as a change expert!
Converting my newfound skills into a niche is the next step to laying a foundation to a thriving consultancy. As I mentioned, I was laid off in the first half of 2020, but I knew the world was going through a massive change. Which is when I pounced on targeting the market of change. I realized that organizations were restructuring themselves in 2020 and change was going to be a large part of those transformations. So, I began to market myself as the change expert organizations needed to successfully implement their many changes. Acknowledging your niche and marrying that to the market needs will help you stay focused and make informed decisions as you move forward.
I cannot stress enough that networking is a crucial aspect of growing a successful consultancy. I have maintained positive working relationships former bosses and colleagues. Every relationship that I made in my career experiences have proven fruitful for my consulting practice. I strongly encourage you attend industry events, seminars, and conferences to connect with potential clients and other professionals in your field. Establishing strong relationships within your industry can lead to referrals and valuable partnerships that can propel your consulting practice forward.
Developing a strong brand identity and an effective marketing strategy is vital for gaining visibility and credibility. As an organizational psychologist, I’ve branded myself as @yourorganizationalpsychologist on Instagram. Branding myself as such builds trust with a vast audience. I bombard my social pages with content about change, the courses and digital content that I’ve created for my audience, which establishes me as an expert in my field. I’ve also given my audience a name: “Curious Changers”. I want my audience to be curious, so I call them curious; the truth is, anyone going through change is curious about the future!
What makes a good consultant great is the ability to read between the lines. Often our clients do not fully understand what they need. They often ask for one specific thing, but don’t realize that request comes with several other levers that need pulling. Delivering exceptional results only makes you a good consultant, but exceeding client expectations, by highlighting risks and offering ways in which to mitigate said risk, makes you a great consultant. These are cornerstones of a successful consulting practice. Listen to what your clients are telling you and offer tailored solutions and provide tangible/realistic outcomes. Satisfied clients are more likely to become repeat customers and refer you to others.6. Continuous Learning and Professional Development
To maintain relevance in your industry, stay updated with the latest trends and advancements. Keep your ears to the market and learn how to pivot with the ever-changing market. Your services will always be needed, it’s a matter of how you package it that makes the market say, “I NEED THAT!” Invest in continuous learning and professional development to enhance your skills and keep your knowledge relevant. Being a lifelong learner will make you more valuable to your clients and enable you to offer cutting-edge solutions.
Building a consulting practice is an exciting and fulfilling endeavor. Leveraging your real world experience to define your niche, honing your niche into an expertise and finally, converting your niche a market buying opportunity is what builds a thriving practice. Remember, success in consulting is not only about your expertise but also about your ability to build lasting relationships and continuously adapt to the changing needs of your clients and the market. So, embrace the journey, be persistent, and watch your consulting practice flourish.

Starting your own consulting practice can be a thrilling and rewarding journey. As a consultant, you could leverage your expertise, offer valuable insights, and make a significant impact on your clients' businesses. I can certainly share that my practice began out of sheer need in the market for my skillset. I was a pandemic lay-off and after two verbal offers of employment failed to convert into signed contracts, I decided I was no longer willing to subject my life to anyone else. I realized my unemployment wasn’t sufficient and soon running out, so I started finding freelance work through Upwork. However, converting those gigs into a thriving consultancy required careful planning, dedication, and a clear vision. Just a reminder, my vision was to never let someone else tell me what I was doing with my life. This was my powerful motivator.