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What is the most stressful part of creating a technology consulting business? #Spring24 ?
I am a junior in High School interested in Computer Science and Business. In the future I hope to become an entrepreneur with a computer based consulting business such as IT help, Cyber Security, Web development, etc.
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5 answers
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Ryan’s Answer
Hi Ashley,
I would recommend getting a few years of consulting experience with an established firm before venturing into a firm of your own. I think having that entrepreneurial spirit and a vision for what you want to do is amazing! But realistically there so many variables you would need to manage if you tried to launch your own firm as your first career objective. Getting some experience with an established firm would help you to limit those variables. You can focus your time on building your technical knowledge, project management skills, consultancy skills, and certifications without the added pressures of owning a business.
Once you have your own consultancy your time spent skill building will be limited. Before you receive a dollar from a client you would need to invest time into:
Software procurement
Partnerships with vendors
Building methodologies and business models
Hiring
Marketing
Certifications
RFP's
Demos
SOW's
Additionally, you will get alot more traction with clients once you have established a track record and a reputation in a given industry.
I would recommend getting a few years of consulting experience with an established firm before venturing into a firm of your own. I think having that entrepreneurial spirit and a vision for what you want to do is amazing! But realistically there so many variables you would need to manage if you tried to launch your own firm as your first career objective. Getting some experience with an established firm would help you to limit those variables. You can focus your time on building your technical knowledge, project management skills, consultancy skills, and certifications without the added pressures of owning a business.
Once you have your own consultancy your time spent skill building will be limited. Before you receive a dollar from a client you would need to invest time into:
Software procurement
Partnerships with vendors
Building methodologies and business models
Hiring
Marketing
Certifications
RFP's
Demos
SOW's
Additionally, you will get alot more traction with clients once you have established a track record and a reputation in a given industry.
Updated
Henry’s Answer
The most challenging aspect could be assembling your pioneer team. Remember, as a budding enterprise, your success is directly tied to the individuals who join you on this journey towards your goals. It's crucial to be thorough and evaluate potential team members carefully. Equally important is understanding their motivations and ensuring they align with the company's objectives. This process can be tough, but it's an exciting opportunity to shape the future of your business. So, embrace it with optimism and enthusiasm.
Updated
Jody’s Answer
Greetings Ashley, you've asked a specific answer for a very broad undefined path. We live in a stressful world with multiple challenges that can redirect our journey in multiple directions based on the future decisions made at any give time by you or somebody else. The fancy phrase I use for that is called conditional probability. And I could be very wrong, but I am OK with being wrong till I get redirected for a better path.
Learning to deal with stress is a life long journey and I will give you this free advice which is like free coffee, which is complimentary but with optional and questionable quality, learn not to be afraid of failure. Failure is an undesired result that can catapult you out of your comfort zone and change your path against your will. Tomorrow is never guaranteed so my advice is to keep your goals high and not let the bumps, valleys, and mountains you need to climb dissuade you from being who you truly are. What I have learned from my multiple failures is that I tend to get what I need and what I earn, versus what I think I want. Invest your time in people who value you, and what I have learned from the multiple supervisors I was forced to work for who did not value me, I learned how to keep growing as a professional regardless of the petty challenges and hindrances they presented against me, and then move on to a higher plateau when the opportunity arose. Ashley, you will be successful, I already know this, how successful is based completely on you. Good Luck and God Speed !
Learning to deal with stress is a life long journey and I will give you this free advice which is like free coffee, which is complimentary but with optional and questionable quality, learn not to be afraid of failure. Failure is an undesired result that can catapult you out of your comfort zone and change your path against your will. Tomorrow is never guaranteed so my advice is to keep your goals high and not let the bumps, valleys, and mountains you need to climb dissuade you from being who you truly are. What I have learned from my multiple failures is that I tend to get what I need and what I earn, versus what I think I want. Invest your time in people who value you, and what I have learned from the multiple supervisors I was forced to work for who did not value me, I learned how to keep growing as a professional regardless of the petty challenges and hindrances they presented against me, and then move on to a higher plateau when the opportunity arose. Ashley, you will be successful, I already know this, how successful is based completely on you. Good Luck and God Speed !
John Easton CEng FIET FBCS CITP
Design large computer systems for companies
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Answers
Updated
John’s Answer
Hi Ashley
Great to see your vision. I think the biggest challenge will be trying to decide what makes your business stand out. What is it that is going to make organisations come to you for their consulting needs? It may be that you specialise by technology, by industry, by size of business, or on some combination of these. The challenge is that you probably won't know this up front so you're going to have to place your bets on a few different ideas and see which of those actually deliver business to you. This might mean that a few things fail. That's fine, but can be stressful. Just think of this not so much as a failure but as a learning opportunity. Even if it didn't work out, what did you learn from the experience? Over time you'll figure out where your niche is and then it all starts falling into place. Good luck!
Great to see your vision. I think the biggest challenge will be trying to decide what makes your business stand out. What is it that is going to make organisations come to you for their consulting needs? It may be that you specialise by technology, by industry, by size of business, or on some combination of these. The challenge is that you probably won't know this up front so you're going to have to place your bets on a few different ideas and see which of those actually deliver business to you. This might mean that a few things fail. That's fine, but can be stressful. Just think of this not so much as a failure but as a learning opportunity. Even if it didn't work out, what did you learn from the experience? Over time you'll figure out where your niche is and then it all starts falling into place. Good luck!
Updated
Steven’s Answer
The other's have hit the nail on the head -- you need to focus and use that focus to craft why you stand out from the numerous other businesses like yours. Also, you need to build a great support team around you, as you cannot do it all yourself (although freelancing is certainly a viable option, but that will be much different than an "business").
Also, don't be afraid to fail. Try hard at whatever you think will work and if it doesn't after a reasonable period of time, at least you have now learned one thing that WON'T work. Take that experience and try again, or even just pivot and / or reframe your focus to see if you can get more traction.
When I first started my business, a mentor told me that the most important skill of an entrepreneur is persistence. I didn't really understand that until a few years down the road when we had to make our first big pivot, and after 20 years, I find myself often giving others the same advice. Be persistent! If you want it, you can make it happen.
Good luck!
Also, don't be afraid to fail. Try hard at whatever you think will work and if it doesn't after a reasonable period of time, at least you have now learned one thing that WON'T work. Take that experience and try again, or even just pivot and / or reframe your focus to see if you can get more traction.
When I first started my business, a mentor told me that the most important skill of an entrepreneur is persistence. I didn't really understand that until a few years down the road when we had to make our first big pivot, and after 20 years, I find myself often giving others the same advice. Be persistent! If you want it, you can make it happen.
Good luck!