Eight Common Mistakes New FM Consultants Make
OTHER PARTS OF THIS ARTICLEPt. 1: Moving From Facility Manager to FM ConsultantPt. 2: FM Consulting During A RecessionPt. 3: This Page
Experts say that these practical tips may seem like common sense but are often forgotten.
- Separate your consulting business accounts from your personal financial account. Immediately set up an LLC or other type of business entity and use accounting software to track invoices and remittances.
- Bill on a continuous basis so that you don’t get too far behind on receiving payment, and then lose out on money due.
- Build a Web site, create at least one leave-behind brochure, and print business cards before you’ve even told potential customers about your business.
- Join and stay involved with the local chapters of professional associations. Remember, your erstwhile colleagues are your new potential customers.
- Do some pretty serious market analysis, both locally and nationally (if you plan to work in other states). This includes asking the following questions: Who is my competition? Who are potential clients? What is my position statement? What is it that I am really prepared to do?
- Don’t sell your product for less than it’s worth just to take work.
- Don’t get too frustrated if a client doesn’t implement your recommendations. This happens all the time. It’s their loss.
- Constantly expand your horizons and be willing to re-invent yourself based on which way the facilities winds are blowing. This means staying current on industry trends by attending trade shows and seminars, and reading industry publications.