With our workforce rapidly shifting due to telecommuting, freelance and changing family dynamics, the need for dedicated human resource professionals has never been greater.
Deciding If You Are Ready to Start
While the demand may be incredibly high, the HR space can still be incredibly competitive and there are many elements that need to be considered before establishing your own HR company. Before you even get started it is important to perform your due diligence in the HR industry. You will need to determine whether you are the right person for this line of work and how well you are able to communicate with people to understand their needs. You will also be required to organize and analyze data which can be a headache for people who are suited for more practical work. If you feel that you work well with colleagues and have great leadership skills, you will most likely feel quite comfortable in HR.
Research the Competition
Once you are ready to get started, research some other companies within your area and who are working with similarly sized clients that you will be targeting. This will help you determine the rates you will be charging to your clients and is currently working for competitors will allow you to adapt and create your own unique take on their strengths while minimising their weaknesses.
Develop a Business Plan
From there, you will need to develop a business plan to understand which area of human resources you will be specializing in. Since competition is tight, you will need to find an area to excel and stand out in to target clients looking for solutions to specific problems.
Registering Your Business
Having a business plan established will allow you to acquire and file the necessary legal and tax documentation required to establish your business. You will need to register your business and determine which business structure suits your organization’s needs, this will most likely be registering as a company to ensure your consultancy will perform to the best of its ability and limit your liability towards your business. Your company information will be used on all your legal documentation and shared with your clients when invoicing and processing payments.
Once you receive your certificate of registration, it is time to start promoting your services. This is best done through networking with local professionals at corporate events. Here you can find your target clients and approach them, letting them know a bit about your business. You may also like to connect with other human resource professionals who are specialized in other areas. This can help you grow your network and refer clients to them who are seeking out solutions to challenges that are outside your field of expertise, allowing them to do the same for you.
Marketing and Promotion
Outside of events, you will be able to promote consulting services by contacting businesses and sharing with them some insight into changes in the HR industry. These could be related to those changes we discussed at the start of this article, how it would affect their business and offer some advice on how they might be able to adapt their business to these challenges. This will allow you to position yourself as an expert in this field of knowledge and will help you make some professional connections which can later grow into converted leads. You should also ensure that you have a significant online presence, making use of social media such as LinkedIn and Twitter as well other networks you might find your target market access and engage with. This will allow you to further share useful content on the state of your industry and continue to build up your brand and image.