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NoviaNet

A new way to start a consultancy business

Are you considering consultancy on a self-employed basis as your next career step?

If so, your thinking might be driven by a reaction to the experiences of working for other people, a wish for increased control and autonomy in your working life, a belief that riches lie along this path, or a hope that life will be less stressful if one is self employed. Whatever your motivation, you almost certainly need a means of examining the option objectively and, if you go ahead, some practical advice and support in order to make the best possible start.
As experienced management consultants - trained by one of the 'big four', and founders of our own successful niche practice - we understand better than most about the pitfalls and opportunities that going it alone provides.

NoviaNet
A new way to start a consultancy business

NoviaNet is the name we have given to the enterprise we launched in Autumn 2001, designed to help would-be consultants to translate their previous experience into the context of consultancy. We aim to help people to address the following questions:

Is there a market for what I want to do or have experience in?

How do I get started and what are the priorities?

How do I learn the basics of the trade?

What is my support network? Who can I call on as colleagues?

How do I price a job and assess risk?

How do I put together a decent proposal?

What about the legalities and tax/financial considerations?

Is being a consultant a good idea for me personally?

Will there be an impact on me, or my family, if I go ahead?

We addressed just these questions when we set up ARA consulting a few years ago. Also, for many years, we acted as career consultants helping many of our clients decide on new career paths, including starting consultancy practices. As a result, we feel that we are perhaps uniquely qualified to provide help and support to those wanting to investigate and try this option.

Our Approach to Helping You


Over the following paragraphs we give an overview of the NoviaNet approach.

We recognise that we need to balance your wish for greater independence and freedom from bureaucracy against the necessary practicalities of a different style of working, such as the need for colleagues, professional sounding boards and for appropriate access to basic procedures and administrative support. So, we endeavour to provide sufficient structure to help you get your business profitably under way in the shortest possible time (and with the minimum of sleepless nights) while not intruding on what is to be your enterprise, which you will run as you decide. And, to reflect the widely differing needs of our clients, we aim to be highly flexible in how we tailor our services.

We use our skills and resources to enable you to undertake the journey - from your initial enquiry to the launch of your consultancy business - with confidence and professionalism.

Throughout the process you will understand the costs and risks associated with taking the next step. Our support at each phase would be agreed with you and our remuneration terms clearly established from the very beginning. Together these steps ensure there are no hidden costs or surprises and we can all focus on the job at hand. Our experience shows that some people will decide early on that the consultancy route is not for them and we have built in an appropriate means of discontinuing at minimal cost, should this arise.

Phased Approach

We have grouped the options available into three main phases to assist understanding but these are very flexible and can be modified or supplemented to meet specific needs and previous experience.

Phase 1

We assist you in making the decision as to whether consultancy is right for you. This will be a complex decision but two of the key variables will be:

the viability of the business you have in mind (which itself will depend on market demand, the relevance of your skills and experience, and resource availability)

personal considerations (lifestyle preference, personality, support from other stakeholders, financial position, domestic responsibilities, etc.)

Workshops and / or individual sessions will enable you to gather information, consider the evidence, and conclude whether you wish to pursue this option.

Phase 2

This phase surrounds the planning and establishment of your consultancy. Largely working on a one-to-one basis, the focus is on testing the viability of the proposition and planning the steps to launch the consultancy. The steps will include:

validating the market demand

positioning the service offering

producing a marketing plan

determining the resource requirements (e.g. people, finance and premises)

putting together a business plan

touching base with functional experts and financial / legal specialists

establishing an administrative system to control and monitor the operations

Phase 3

Phase 3 evolves seamlessly from the earlier stages as your consultancy is launched. Some of the issues begun in the second phase are continued here - an example being the need to do marketing 'for real'. In addition, systems are put in place to monitor and review progress across all the key activities. Using an agreed review schedule, coupled with a helpline to address unforeseen events, we will support your fledgling consultancy during its formative period. By acting as a sounding board on proposal writing or client presentations when actually required, our expertise is available to you precisely when you need it, providing a unique and individually focused learning opportunity.

Next Steps

To find out more about the NoviaNet approach to starting your consultancy business view the Contact page and take the first step by organising an initial exploratory discussion without obligation.


Other helpful Information

Publications

You may find the following books helpful, but note that very few offer guidance on the specific subject of consultancy.

"Your Own Business: The Complete Guide to Succeeding With a Small Business" by Phil Stone, How To Books

"Setting up and Running a Limited Company" by Robert Browning, How To Books

"Start Up and Run Your Own Business" by Jonathan Reuvid & Roderick Millar, Kogan Page

"The Which Guide to Starting Your Own Business" by Anthony Bailey, Which

"The Sunday Times Guide to Starting a Successful Business" by Michael Morris, Kogan Page

"Starting a Business in Britain" by Brian O'Kane (Virgin Books)

"Starting your own Business" by Jim Green, How To Books (Reprinted 2001)
ISBN 1 85703 652 2

"Starting you own Business" by Peter Hingston, Dorling Kindersley
ISBN 0 7513 1413 7

"The Small Business Handbook" by Philip and Sandra Webb, Prentice Hall ISBN 0 273 65432 2

One book that offers good advice on consultancy start up is the following, but it is not always in print:

"Start and run a Profitable Consulting Business" by Douglas A Gray, Kogan Page

Key Links

The following is a selection of websites that may prove useful to you. Please advise us if links have changed or you encounter new ones that could be useful to other potential business starters.

Barclays Bank www.clearlybusiness.com 0845 601 5962
Business Link
www.businesslink.gov.uk 0845 600 9006
Companies House www.companieshouse.gov.uk 029 2038 0801
Customs & Excise See HM Revenue & Customs  
Data Protection www.dataprotection.gov.uk 01625 545 745
Dept of Trade & Industry www.dti.gov.uk 020 7215 5000
Federation of Small Businesses www.fsb.org.uk 01253 336 000
HM Revenue & Customs www.hmrc.gov.uk Various via site
Inland Revenue See HM Revenue & Customs  
Institute of Directors www.iod.com 020 7839 1233
Prince's Trust www.princes-trust.org.uk 0800 842 842
Scottish Enterprise www.scottish-enterprise.com 0845 607 8787
Shell Livewire www.shell-livewire.org 0845 757 3252
International Business Wales, part of the Welsh Assembly Government www.ibwales.com/ 0845 796 9798

Other contacts whom we have used for setting up our own business(*), or are aware of, include:

A1 Company Services Ltd.*
Company set up & company secretarial services, including Registered Office
www.a1companies.com/ 020 8458 9637
Contact Karen Guy
Hendersons Ltd.*
Accounting Services - preparing and filing company accounts with Companies House etc.
  020 7739 4047
Contact Ian Stout
Banking - Cater Allen Private Bank*
Part of Abbey National Group
www.caterallen.co.uk/ 0800 716 177
Independent Advisory Services*
For independent financial advice
www.iasok.co.uk 020 8434 3542
Contact Neil Weston
Neat Ideas*
Stationery, office supplies
www.neat-ideas.com 0800 500 192
Skymarket Ltd.*
Web hosting, domain setup and email redirection
www.skymarket.co.uk 08701 212 555
Professional Indemnity Insurance UK
www.professionalindemnity.org 01435 868 444
Unicef - Christmas Cards*
Supplying and overprinting
www.unicef.org.uk/shop/index.asp 01245 476 315
NoviaNet
A new way to start a consultancy business
 
 
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www.araconsulting.co.uk Last update : 12 December, 2007