Starting a One-Man Consulting Business

Introduction

• Presenter: Rick Howard
• Topic: Starting a one-man consulting business remotely
• Focus: Consulting and government contracting

Overview of Government Contracting

• Definition: US government purchasing goods/services for federal agencies
• Key Buyer: US military (largest purchaser globally)
• Challenge: Less than 1% of small businesses sell to the government; declining trend
• Background: Presenter was an Acquisitions officer in the Air Force

Understanding the Government's Needs

• Wide Range of Purchases: From toilet paper to engineering software
• Examples: Social media advertising, ice cream, beer, construction
• Opportunity: Government buys across various industries

Transition to Consulting

• Post-Military Career: Helping companies (especially small businesses) sell to the government
• Niche Identification: Importance of understanding the government contracting process
• Training Challenge: Need for extensive training for new hires in the field

Starting as a One-Man Business

• Options: Freelancer, consultant, account executive, business developer
• Market Challenge: Government contracting is long-term but lucrative
• Advice for Newcomers: Start a business, gain commercial credibility, then pursue government contracts
• Consulting Model: Quick revenue generation and landing clients

Business Model for Consulting

• Initial Project: Solve a business problem with a $5,000 project
• Recurring Revenue: Transition to monthly service fees ($4,500 - $9,500)
• Revenue Goal: Manage 5 clients for a sustainable business
• Client Retention: Average consultant-client lifespan and need for lead generation

Consulting Business Strategies

• Lead Generation: Various methods including websites like Upwork, Catalant, GLG
• Sales & Marketing: Importance of continuous lead generation
• Examples of Tools and Platforms: GLG consultations, high-end platforms

Tools and Resources

• Website: USA Spending - track government spending and identify opportunities
• Analysis Tools: Identify agencies spending on specific sectors

Real-World Applications

• Case Studies: Residential construction spending analysis
• Small Business Spending: Importance of small business contracts

Learning Opportunities

• Certification Program: GovClose offers certification for consulting in government contracts
• Program Content: Covers everything from niche development to proposal writing

Closing Thoughts

• Opportunities in Government Contracting: Potential for wealth creation
• Advice for Entrepreneurs: Understand the process, solve real problems, continuously seek new leads
• Additional Support: GovClose.com for certification, consulting, and training