As an independent marketing or management consultant, you help your clients get the most out of what they have, whether that's a marketing budget or a business's organizational structure. Through your analysis and assessment, you are able to recommend new practices that can ultimately boost a business's productivity, revenue, and more.
The future looks bright for independent consultants, too. According to the U.S. Bureau of Labor Statistics , management consultants can look forward to a projected job growth of 22 percent from now until 2020, which is faster than the average for all occupations. As companies continue to grow and develop, they'll need your keen services to improve efficiency and control costs.
Management consultants can expect a 22 percent increase in job growth through 2020.
But with this promising future comes the potential for hiccups, errors, and unforeseen consequences. Marketing consultants whose campaigns go awry can cost a client big time. In turn, disgruntled clients may turn to the legal system to claim compensation.
Management consultants suffer the same conundrum. If you recommend automation software that fails to perform, for example, it could potentially lead to legal action against your business.
That's why independent consultants need adequate risk management and business continuity planning. With the proper precautions in place, you can rest assured your personal finances are protected, even when the situation seems bleak.
In this handy guide, you'll find a world of valuable business protection information, including…
- How to identify your consultancy's risks.
- What types of insurance policies can protect your business.
- Tips for choosing insurance and mitigating risks.
- And more.
Keep reading to discover how you can protect your consulting business and ensure its future success.
Next: Chapter 1: Understanding Your Independent Consulting Business's Risks