How to start consulting services?

[mrsjoeroberson]

I currently work a full time job that is super boring, but would love to offer excel consulting services and stay home with my two boys instead. I'm proficient with formulas and have started dabbling in macros as well. I'm known if the office as the "excel person" but had no idea how little I knew until I came here. How long do you think it would probably take to get to a level that you could sell custom macros for businesses and how much do you think you could charge? Obviously this would depend on the complexity of the macros and your skill in learning but I was hoping for a general timeline (years, months, weeks?).

Jen

 

[NW1]

Jen,

Speaking as one who has been consulting for 30 years or so, Id suggest the biggest issues to overcome is the differences in money coming in in the early days.

At the moment, your probably in your comfor zone, bills are paid and perhaps a little left over each month to spend on the kids etc. When you go it alone, your monthly paychecks will stop....

Try asking your present employer if you could stay on part time and or become their excel guru, also save loads and loads of cash now and then when you start your company up, you will have some reserves.

As to the technology and your use... You could be the best and cleverest wizard in the country and still get no work ! IMHO its all about personal presence and customer interaction. Getting into one product is also a risk, perhaps looking at either the whole office suite woudl be worth keeping in your back pocket.

Good luck in whatever you decide...

 

[mrsjoeroberson]

Thanks so much for the advice! I'm excited to know that people skills carry a lot of weight because all my formal job experience is in customer service and have very good soft skills. My husband would still be working full time so as the second wage earner I would only have to make the difference between my paycheck and childcare (which isn't that much). What I don't really know is what is a fair charge. Right now my manager seems kind of hostile to macros and other time saving methods and doesn't really want me investing much time in them. I've been able to do what I have because I'm mechanizing my own tasks and the total time spent on the job is roughly the same. I think as a whole the company would be friendly towards it but you always have to get manager approval to move anywhere. /

 

[RoryA]

I think a fair charge depends on several factors:
1. What the going rate in your area is generally.
2. The complexity of the project.
3. The length of time it will take (many developers base charges on a lower hourly rate for longer jobs)
4. Whether you charge per hour or a single price for the job.
5. If you don't actually want the job, but don't want to be seen to turn work down.
6. Your skill level.
7. Whether you are including any sort of support in the price.

 

[baitmaster]

I've done consulting work for a few years. A primary point to consider, is that most companies don't want "an Excel expert". They want a cost modeller, a financial analyst, a process improvement expert etc. If during that process they realise they do want Excel super guru then congratulations, you've got loads of work, but until then its difficult getting your foot in the door

What is also important, is not just how to use Excel, but how to use it in business. E.g. are you using it for analysing trends in large data sets (data mining), or to create standalone software solutions that people with no excel experience can use easily in order to get the right answer in a fool proof way, or are you creating reports for financial managers, that take data from 3rd party systems, process it, and spew it out in their desired format? Keep learning the formulas and the code, but you will also need the business experience with it, or at least be able to say all the current management buzzwords, like "blue sky thinking" or other such meaningless prattle

You might want to approach an agency, I would suggest a specialist in the financial sector such as Robert Half - don't know if Im allowed to name them (so apologies in advance mr moderator, but I think its relevant in this context!) - and they will look at your CV and take it from there

I've had continued hostility from employers over the years, who often think VBA is a bad idea, mainly because they've had a bad experience somewhere in their past. You're right though, its bloody useful if used correctly, and if you have the right experience on your CV to back up what you say, then big organisations will take you seriously, and know you offer them something

Consultancy work around my area can be charged at £400-600 per day, but you need all the skills, not just creation of spreadsheet formulas. For that rate you must be able to deliver proven solutions, and demonstrate they are foolproof. There's a lot to learn, but the carrot on the stick is a juicy enough carrot for most people... Good luck, and I do suggest you stick with it

 

[mrsjoeroberson]

Thanks everyone!