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You will prepare and submit a term paper on Starting and Engineering Consultancy Business. Your paper should be a minimum of 1750 words in length.
You will prepare and submit a term paper on Starting and Engineering Consultancy Business. Your paper should be a minimum of 1750 words in length. Before being able to successfully launch a new engineering consultancy business, it is important to understand the skills necessary to have a successful business model. Engineering is a highly-technological field, therefore certain technical and administrative skills will be necessary to support the new idea. To launch a successful consultant business, “you don’t need to know absolutely everything. The notion that you would even be able to know everything when it comes to technology is very unrealistic” (docstoc.com, 2008, p.1). What this basically means is that the new owner of the business must identify what specific skills will be necessary to make the business operate successfully and consider recruitment efforts to find qualified staff or technical expertise to assist in the business. As part of early strategy planning, identifying qualified workers, managers or partners will require a skills analysis.
Another key strategy in consulting is to actually listen to what the customer wants and not attempt to launch a business concept which fits only personal needs (Reising, 2009). Part of early efforts in strategy should be to invest research into what buyers actually need and then try to develop the business concept around these ideas. For example, surveys and/or interviews conducted with different consultant experts or potential business customers would give quality information about current needs in consulting and the behaviors they expect from consultancy business representatives. This type of investment into research on buyer behaviors will make sure customers are heard and the business can start out with high amounts of knowledge so to avoid making costly mistakes with new clients.
In 1997, businesses spent over $12 billion on various consulting services (entrepreneur.com, 2009). This represents a very profitable opportunity if the new consultancy business meets with customer expectations for professionalism, .courtesy, affordable prices, and proof of personal knowledge of engineering.
