{"id":227,"date":"2014-04-12T09:46:35","date_gmt":"2014-04-12T09:46:35","guid":{"rendered":"https:\/\/www.consultingfact.com\/?p=227"},"modified":"2020-01-16T10:50:23","modified_gmt":"2020-01-16T10:50:23","slug":"advantages-of-having-consulting-experience-for-your-own-startup","status":"publish","type":"post","link":"https:\/\/www.consultingfact.com\/blog\/advantages-of-having-consulting-experience-for-your-own-startup\/","title":{"rendered":"Advantages of Having Consulting Experience for Your Own Startup"},"content":{"rendered":"

\"Startup<\/p>\n

Many consultants leave consulting to build their own businesses. And why not? Entrepreneurship would not be a surprising exit path for consultants as their experience offers many advantages for entrepreneurs. They are generally equipped with the essential elements to start their own company.<\/p>\n

Sophisticated Business Knowledge<\/h2>\n

You definitely need sophisticated knowledge when starting a business. For example, you\u2019ve learned how there are multiple business types and the small differences between them like an LLC versus S corporation<\/a>. Choosing the correct business type is a key step to starting your own business successfully.As an entrepreneur you need to be competent in the main functional areas of a company, such as sales, marketing, finance, and operations, etc. You need to understand how to raise capital and how to find a business model that will work for you. You also need to be knowledgeable about the market you\u2019re attempting to enter in order to deliver a good product or service to this market.<\/p>\n

And these are just some of the most important knowledge one has to have to build a successful startup. Apparently, consultants are constantly exposed to complex business problems and help companies reach new growth targets. Therefore, they have the advantage of gaining sophisticated business knowledge across diverse industries. They pretty much understand the ins and outs of running a business.<\/p>\n

Strong Startup Contacts<\/h2>\n

Apparently, consulting is an industry filled with entrepreneurial people. That means consultants have the luxury of strong professional networks that are essential in building your own startup. Perhaps, building valuable contacts during their years as a consultant would be the best benefit they can gain. It is because at the end of the day, it may all boil down to whom you know, rather than what you know, right?<\/p>\n

Strong Skillset<\/h2>\n

As consultants learn about many different industries and businesses, they also hone the necessary skills to run a successful company. Their everyday lives basically involve rapid problem solving and business plan and analysis. That makes their problem solving decision-making and creative skills sharp. As an entrepreneur, you\u2019ll need to come up with fresh ideas, and make a lot of good decisions in order to grow your company.<\/p>\n

Creativity, problem solving and decision-making are skills that professionals from the consulting industry generally developed over time. That makes them ready to face their own business problems in the near future.<\/p>\n

Key Traits and Characteristics<\/h2>\n

Successful entrepreneurs and consultants have a lot of traits and characteristics in common. Some of which are:<\/p>\n