Tips for starting your own HR consultancy
Starting your own HR consultancy is a dream for many HR professionals, leaving behind a corporate role and having the freedom and autonomy to build the business that you want. For HR professionals looking to step out and launch their own consultancy, there are numerous things to consider. Here are our tips on how to start your own HR consultancy.
1. The Brand
Building and maintaining a strong and impressionable brand is important when starting your own business. It is the identity of your business making you memorable to clients. This also helps to distinguish yourself from competitors.
2. Business Plan
A business plan will help to set your long-term goals and set your focus for the type of business you want to build. This will also help you to spot potential gaps or problems that you may need to resolve. For many HR professionals, their expertise lies in HR and not the other business aspects that are needed to run a business; therefore, it is important to identify skill gaps and spot where you might need additional help.
3. Marketing and Lead Generation
When starting your own business, it is vital you get yourself and your business seen. If potential clients do not know you’re there, then they may seek help from a competitor. To start with, set up your own website and social media channels and plan to post regular content on them. In time, your marketing strategy will develop – Investing in marketing can give you the jumpstart you need.
4. Research
Before launching your business, it is important you do your research on the market. This will help you to determine potential competitors and your target market. This will also help you when creating your business plan.
5. Consider joining a franchise
A franchise offers the opportunity to become your own boss but with support and resources to help you thrive in running your own business. The brand and reputation are already established saving you time and money in those early stages. As well as this, a franchisor will set your business up for you, often involving a website, IT setup, documents and plenty more. They already know the market and therefore will have tried and tested their business model to find out what works. Joining a franchise means you work for yourself but never by yourself, support stems from the franchisor head office to the wider network of franchisees who are on a similar journey to you. If you are an HR professional and are interested in setting up your own HR consultancy, we would love to hear from you.
Get in touch to find out about the first and only HR Franchise collaborative network of HR professionals in Australia. Come to the Discovery Day presentation to see how you will benefit from joining The HR Dept Australia.