Home > Articles

This chapter is from the book

Business Acumen

Finally we come to the last set of prerequisites. You need to know how to run a business and you should have the required skills to do so, or else make sure you have access to people who have the skills you lack.

You can't hire someone to exercise good business judgment in your stead. Neither can you rely on someone else to make decisions based on sound ethics and principles. You can hire other people to handle some of the business procedures in which you lack the expertise.

The following descriptions provide a quick list of the skills you will need to succeed in business.

Between Colleagues

You might consider hiring a marketing expert (or consultant) to help you develop a marketing plan for your business. This type of investment can really pay off and is particularly useful at start-up since it will help you learn about marketing and get your business off the ground. Make sure the person you hire is familiar with your target market and area of specialization.

Marketing Skills

During the first year, you will be spending a good deal of your time figuring out how to market to your potential clients. That means you have to know something about sales and the marketing process, and about the various options you have at your disposal (for example, brochures, cold contacts, networking, associations, advertising, Internet presence).

Don't worry if you don't yet have this knowledge, but do commit to acquiring it as soon as possible. You will learn much as you go along.

Networking Skills

Networking is often part of the marketing process, but it's also an important aid in keeping your sanity and growing your support network. There is an art to it. You have to balance your "sales needs" with the need to establish free and equal relationships with other people. For example, if you use networking as a way to push your services down other people's throats, you soon won't have anyone to talk to. Nobody likes a pushy, self- centered networker.

Think about whom you should be networked with and then decide how to go about it. To increase sales, you need to network with people who are in positions to hire you or advise people who can hire you. Don't make the mistake of confusing networking with other consultants with networking with potential clients. Both are important but address different goals.

Financial Management Skills

Have trouble balancing your checkbook? Ever been late filing or paying taxes? Hate paperwork? Not good. Even though managing your company's finances is a tedious and sometimes burdensome task for which you don't get paid, it must be done. Luckily, some or much of this task can be off-loaded to others (accountants and tax preparers). Decide now whether you want to do it yourself (be realistic here) or have someone else help you out.

Computer Skills

Computer skills are even more important than you'd think. Being able to use computers efficiently to create documents, prepare marketing copy, and communicate with clients (via computer, fax, or Internet) is essential.

Consulting Confidential

Which computer skills are ab-solutely essential? The ability to use a word processor package, the know-how to send and receive e-mail, the ability to browse the Internet to accomplish simple tasks, and the ability to use a basic financial management or accounting package are musts. Also useful is the ability to use web development tools and a desktop publishing program.

Perhaps it's occurred to you that you may not be able to afford someone to handle and create correspondence, operate your customer database, or computerize your billing and accounts receivable. If you don't have the skills to undertake these tasks yourself, consider enrolling in local community college classes to acquire them. If you are well capitalized, you might be able to employ someone else to do those things—but likely not, at least in the early days of your business.

The more you can do on your computer, the faster you can work. And the less you need to rely on paid help.

Oh yes. You can type, right?

Written Communication Skills

Written communication skills are a definite must for consulting with organizations of any size, although they are less important if you are consulting to individuals. You need to be able to write prose that is easy to understand, clear, and precise. You also need to be able to create documents quickly. If it takes you a week to draft a five-page report, you are in trouble.

Your written communication skills are important in getting contracts (both in the marketing stages and in the contracting stage) and completing such documents as consulting project reports to your clients. At minimum, your clients are going to expect something on paper that summarizes your advice. Some projects may require the submission of major reports and also interim reports done during the life of the project.

Presentation Skills

Presentation skills relate to your ability to speak in public to (usually) a group of people. I know some people who would rather have teeth pulled than speak to a group of people. So are these skills essential? Yes, unless you work only with individuals.

When is it likely you'll have to do group presentations? Often, this is something you'll have to do right up-front. Corporate clients in particular may ask you to speak to a group of people about what you can offer. Next, it won't be uncommon for you to have to speak to a group of people during a contract, either to report on progress, to present interim advice, or simply to get information from them. Finally, you will want the opportunity (yes, opportunity) to speak to clients in order to present your advice in ways that will encourage them to use and implement it.

Proposal Writing Skills

Finally, if you plan on working for clients who may require you to respond to requests for proposals or who want fairly detailed plans about how you can help them, you need to develop skills in writing proposals. For some consultants, especially those who consult to government and corporations, these skills are essential. The ability to give proposal reviewers exactly what they want and little more is invaluable. A combination of writing skills like concise phrasing and document organization along with a knack for understanding what proposal reviewers are looking for will help you compete for contracts.

For others, such as those who consult mainly to individuals, they may be irrelevant.

The Least You Need to Know

  • Assess your knowledge and skills in your specialty areas in terms of breadth and depth.

  • Pay special attention to identifying where you may need to develop your consulting process skills.

  • Before making an irrevocable decision to start a consulting business, be clear about the challenges involved and examine your own values and attitudes. Is this something you will really enjoy?

  • Begin thinking about the business skills you may lack and consider filling in the gaps or deciding where you can find the expertise you lack.

InformIT Promotional Mailings & Special Offers

I would like to receive exclusive offers and hear about products from InformIT and its family of brands. I can unsubscribe at any time.

Overview


Pearson Education, Inc., 221 River Street, Hoboken, New Jersey 07030, (Pearson) presents this site to provide information about products and services that can be purchased through this site.

This privacy notice provides an overview of our commitment to privacy and describes how we collect, protect, use and share personal information collected through this site. Please note that other Pearson websites and online products and services have their own separate privacy policies.

Collection and Use of Information


To conduct business and deliver products and services, Pearson collects and uses personal information in several ways in connection with this site, including:

Questions and Inquiries

For inquiries and questions, we collect the inquiry or question, together with name, contact details (email address, phone number and mailing address) and any other additional information voluntarily submitted to us through a Contact Us form or an email. We use this information to address the inquiry and respond to the question.

Online Store

For orders and purchases placed through our online store on this site, we collect order details, name, institution name and address (if applicable), email address, phone number, shipping and billing addresses, credit/debit card information, shipping options and any instructions. We use this information to complete transactions, fulfill orders, communicate with individuals placing orders or visiting the online store, and for related purposes.

Surveys

Pearson may offer opportunities to provide feedback or participate in surveys, including surveys evaluating Pearson products, services or sites. Participation is voluntary. Pearson collects information requested in the survey questions and uses the information to evaluate, support, maintain and improve products, services or sites, develop new products and services, conduct educational research and for other purposes specified in the survey.

Contests and Drawings

Occasionally, we may sponsor a contest or drawing. Participation is optional. Pearson collects name, contact information and other information specified on the entry form for the contest or drawing to conduct the contest or drawing. Pearson may collect additional personal information from the winners of a contest or drawing in order to award the prize and for tax reporting purposes, as required by law.

Newsletters

If you have elected to receive email newsletters or promotional mailings and special offers but want to unsubscribe, simply email information@informit.com.

Service Announcements

On rare occasions it is necessary to send out a strictly service related announcement. For instance, if our service is temporarily suspended for maintenance we might send users an email. Generally, users may not opt-out of these communications, though they can deactivate their account information. However, these communications are not promotional in nature.

Customer Service

We communicate with users on a regular basis to provide requested services and in regard to issues relating to their account we reply via email or phone in accordance with the users' wishes when a user submits their information through our Contact Us form.

Other Collection and Use of Information


Application and System Logs

Pearson automatically collects log data to help ensure the delivery, availability and security of this site. Log data may include technical information about how a user or visitor connected to this site, such as browser type, type of computer/device, operating system, internet service provider and IP address. We use this information for support purposes and to monitor the health of the site, identify problems, improve service, detect unauthorized access and fraudulent activity, prevent and respond to security incidents and appropriately scale computing resources.

Web Analytics

Pearson may use third party web trend analytical services, including Google Analytics, to collect visitor information, such as IP addresses, browser types, referring pages, pages visited and time spent on a particular site. While these analytical services collect and report information on an anonymous basis, they may use cookies to gather web trend information. The information gathered may enable Pearson (but not the third party web trend services) to link information with application and system log data. Pearson uses this information for system administration and to identify problems, improve service, detect unauthorized access and fraudulent activity, prevent and respond to security incidents, appropriately scale computing resources and otherwise support and deliver this site and its services.

Cookies and Related Technologies

This site uses cookies and similar technologies to personalize content, measure traffic patterns, control security, track use and access of information on this site, and provide interest-based messages and advertising. Users can manage and block the use of cookies through their browser. Disabling or blocking certain cookies may limit the functionality of this site.

Do Not Track

This site currently does not respond to Do Not Track signals.

Security


Pearson uses appropriate physical, administrative and technical security measures to protect personal information from unauthorized access, use and disclosure.

Children


This site is not directed to children under the age of 13.

Marketing


Pearson may send or direct marketing communications to users, provided that

  • Pearson will not use personal information collected or processed as a K-12 school service provider for the purpose of directed or targeted advertising.
  • Such marketing is consistent with applicable law and Pearson's legal obligations.
  • Pearson will not knowingly direct or send marketing communications to an individual who has expressed a preference not to receive marketing.
  • Where required by applicable law, express or implied consent to marketing exists and has not been withdrawn.

Pearson may provide personal information to a third party service provider on a restricted basis to provide marketing solely on behalf of Pearson or an affiliate or customer for whom Pearson is a service provider. Marketing preferences may be changed at any time.

Correcting/Updating Personal Information


If a user's personally identifiable information changes (such as your postal address or email address), we provide a way to correct or update that user's personal data provided to us. This can be done on the Account page. If a user no longer desires our service and desires to delete his or her account, please contact us at customer-service@informit.com and we will process the deletion of a user's account.

Choice/Opt-out


Users can always make an informed choice as to whether they should proceed with certain services offered by InformIT. If you choose to remove yourself from our mailing list(s) simply visit the following page and uncheck any communication you no longer want to receive: www.informit.com/u.aspx.

Sale of Personal Information


Pearson does not rent or sell personal information in exchange for any payment of money.

While Pearson does not sell personal information, as defined in Nevada law, Nevada residents may email a request for no sale of their personal information to NevadaDesignatedRequest@pearson.com.

Supplemental Privacy Statement for California Residents


California residents should read our Supplemental privacy statement for California residents in conjunction with this Privacy Notice. The Supplemental privacy statement for California residents explains Pearson's commitment to comply with California law and applies to personal information of California residents collected in connection with this site and the Services.

Sharing and Disclosure


Pearson may disclose personal information, as follows:

  • As required by law.
  • With the consent of the individual (or their parent, if the individual is a minor)
  • In response to a subpoena, court order or legal process, to the extent permitted or required by law
  • To protect the security and safety of individuals, data, assets and systems, consistent with applicable law
  • In connection the sale, joint venture or other transfer of some or all of its company or assets, subject to the provisions of this Privacy Notice
  • To investigate or address actual or suspected fraud or other illegal activities
  • To exercise its legal rights, including enforcement of the Terms of Use for this site or another contract
  • To affiliated Pearson companies and other companies and organizations who perform work for Pearson and are obligated to protect the privacy of personal information consistent with this Privacy Notice
  • To a school, organization, company or government agency, where Pearson collects or processes the personal information in a school setting or on behalf of such organization, company or government agency.

Links


This web site contains links to other sites. Please be aware that we are not responsible for the privacy practices of such other sites. We encourage our users to be aware when they leave our site and to read the privacy statements of each and every web site that collects Personal Information. This privacy statement applies solely to information collected by this web site.

Requests and Contact


Please contact us about this Privacy Notice or if you have any requests or questions relating to the privacy of your personal information.

Changes to this Privacy Notice


We may revise this Privacy Notice through an updated posting. We will identify the effective date of the revision in the posting. Often, updates are made to provide greater clarity or to comply with changes in regulatory requirements. If the updates involve material changes to the collection, protection, use or disclosure of Personal Information, Pearson will provide notice of the change through a conspicuous notice on this site or other appropriate way. Continued use of the site after the effective date of a posted revision evidences acceptance. Please contact us if you have questions or concerns about the Privacy Notice or any objection to any revisions.

Last Update: November 17, 2020