7 Best Practices for Becoming a Successful Consultant

Whether you’re a new member of the independent professional workforce or a seasoned veteran, operating a successful solo business can be an ongoing challenge. Early on, the challenge may be securing clients and generating revenue. Later, it could shift to adjusting your services to meet market changes and, of course, securing even more clients.

The paths to success as an independent contractor could (and do) fill books and websites. Here are seven best practices from experienced independent professionals that can help point you in the best direction.

1. Keep Your Sales Pipeline Full

At every point in your business and in every economic environment, it is important to keep a continuous flow of prospects at different stages of the customer journey.  In the early days, a full pipeline can help keep revenues coming in.

As your business gains traction, a full pipeline allows you to choose which prospects to pursue. It also acts as a safety net if one client delays, giving you other opportunities to nurture.

2. Network, Network, and Network

There is never a time in your business when networking is not important. The relationships you forge can help capture new business, form alliances with other business owners, and keep you motivated and energized.

Fortunately, there are more networking opportunities for business owners than ever before. From live events and online conferences to classes and social gatherings, choose the networking opportunities that fit your business and personal style. Nurture your network through regular communication and encourage connections among its members.

3. Position Yourself

Characterize yourself as a subject matter expert in a specific aspect of your skill area in all your communications. This can help you stand out from others in your field and also help attract projects that you are interested in. Pinpoint what you do well and enjoy doing, then lead with that expertise.

If you’re not sure what your superpower is, consider your experiences in business and identify the work that delighted you and your client. Refine those insights into a clear expression of your specific subject matter expertise.

4. Vet Potential Clients

Even if you’re just starting out, saying “yes” to every opportunity is not highly effective. Acquiring the discipline to be selective about your engagement can help accelerate your business growth. Ensure you are clear about what features, characteristics, or terms are and are unacceptable to you. Identify things that would be dealbreakers for you.

Then, when you are considering a particular opportunity, take the time to research the company and the person or people you’d be working with before deciding whether to go forward. You can get a feel for organizational culture and the worker experience through sites like Glassdoor and LinkedIn.

5. Have a Plan and Keep It Updated

Having a plan does not mean that you need to come up with a complex strategy right off the bat. It does mean beginning with clear goals, ways to measure progress against those goals, and a timeline in which to work toward them. As you gain confidence and refine your growth strategy, keep evolving your plan. Sharpen your strategic thinking, fine-tune your goals and metrics, and enhance your ability to measure results.

You should also plan to periodically review your plan—monthly, quarterly, or biannually—assess your results, and make adjustments based on what you’ve learned. Eventually, you’ll need to have more formal planning sessions and create a detailed business plan so that you can grow in the direction and at the pace you want.

6. Create and Use Standard Documents

You must have an official agreement or contract for every client or project. Clearly state the exact scope of work, including any deliverables, the engagement timeframe, your pay rate, payment terms, and late fees if applicable. Include standard sections like intellectual property rights assignments and indemnities. Research online for a contract template that suits your business and customize it as needed.

In addition, create a document that spells out your business policies—office hours, communication protocols, and any other information that informs the client about what they can expect from you. Your policy document can help maintain a good client relationship while ensuring you work how you want.

7. Mentor and Be Mentored

Mentorship is always a good business practice, and it’s especially important for solo business owners. Besides receiving insights and observations that focus on supporting you and your company, you can learn a lot about all aspects of business management from marketing to project management to technology. Seek out opportunities to mentor others and consider engaging in two-way mentorship, where both of you contribute to each other’s success.

These practices can serve as a self-check as you purse the day-to-day tasks of moving your business forward. Review them from time to time so you can make sure you’re incorporating them into your activities.