The business of consulting is large. In 1995, over 100,000 consultants sold over $43 billion of advice. Compound annual growth expected to be 14 percent through 1998. Today, technology planning, strategic services and enterprise consulting represent 35 percent, 20 percent and 15 percent respectively of the worldwide consulting spending.
Some of the best people in consulting work in small firms. The
reason is that the best people may prefer the autonomy and impact
that they can have there. The responsibilities of a consultant are
significant, regardless of the size of the practice. Its much more
like being an attorney; an attorney in a small firm can have a very
large case.
It's tough to make it in solo consulting because of the difficulty of maintaining credibility and marketing yourself. Only one in ten solo consultants lasts for ten years.
If you go into business for yourself it is important to credibly convey your expertise. One way to do this is to become a Certified Management Consultant (CMC). Contact the Institute of Management Consultants, 230 Park Ave., Suite 544, New York, NY 10169, (212) 697-9693 for more information.