Question

Topic: Other

Starting An Marketing Consulting Service

Posted by Anonymous on 11/30/2005 at 9:29 PM ET 500 Points
A bit of a two pronged question relating to the one topic...

I am working in-house doing marketing for a professional services firm. I've done (and am continuing to do) a revamp of everything that they have marketing wise and feedback both internally and externally has been so good that the firm has decided to outsource my services to their clients and so are aiming to set up this new "division" to launch next year.

I am in two minds because a) I would still need to output the marketing for the company (as the priority) on top of servicing clients and therefore would have a limited capacity and b) I would still be earning the same pay at the end of the day (and making other people wealthy!).

I thought about approaching my firm regarding me consulting to them instead of being an employee and them referring their clients to me with me paying them commission for all the work that they put through. I then have the capacity to employ staff and take on more work, not just from them but from any one else as well. Not sure how they would take this suggestion though.

From the research i've done, the potential for marketing services in my city is huge as the companies here are not big enough to put someone on permanently but are in dire need for help. As I am only new to the city, it may be difficult initially for me to get work if I went out on my own as it is very much a "who you know" area and the people I work for are very in the know!

Would be grateful for any thoughts/guidance you can provide me on this.

I've been in marketing and events for 10 years now and have been freelancing for 3 of those years. Work has always seemed to find me in the past due to my contacts in the city I used to live.

Either way I go I have to set up the offering and everything else associated with it like fee structure etc. Any suggestions for this would also be much appreciated as well.
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RESPONSES

  • Posted by telemoxie on 12/1/2005 at 7:33 AM Accepted
    Hey Shelly - in your question, you are saying, "...the potential for marketing services in my city is huge as the companies here are not big enough to put someone on permanently but are in dire need for help...".

    As someone who has provided outsourced marketing services to small companies (lone wolf) going on ten years, I can tell you there is a big difference between companies NEEDING services and companies BEING WILLING TO PAY A PROFESSIONAL RATE for services.

    I wholeheartedly agree with Brett's comments... and maybe Michele's suggestion is a good one.

    In your question, you seem to imply that there is some sort of problem with "making other people wealthy". Yet your marketing services, if successful, would make other folks wealthy. What's the problem with this?

    Starting your own business from scratch right now will probably cost you at least $20K in start up costs and lost revenue. I'd recommend you stick with this company (and the guaranteed money) for a year, then re-evaluate things. And, over that year, do some little things (such as arranging financing, which is easier to do when you have a paycheck) so that you have a reasonable option to begin in a year.

    I would enjoy nothing more than a long conversation about the joys and frustrations of a small marketing company... contact me offline (click my profile to the right), maybe we could talk one evening or weekend.

    Good luck.

    (p.s. Isn't someone supposed to chime in with "Hey, read my book Rasputin for hire..." or something like that?"
  • Posted by Corpcommer on 12/4/2005 at 12:05 PM Accepted
    Brazzell -- I just saw your website. Well done!

    shellycs -- In addition to all the good info our colleagues listed above, keep in mind that:

    Getting clients isn't easy

    From experience I learned that smaller clients pay quicker than larger entities

    If you give an ultimatum to your present client (refuse their proposal), be prepared for a possible "let's sever our relationship" situation. One of the world's largest professional services firms has a policy (I know this because one of their partners told me about two years before he left) that someone can refuse only one "request" from management; next step is the door. Who knows? It could lead to a good thing!

    I hope this info helps you when gathering your thoughts on how to handle your dilemma.

    All the best to you,
    MC
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