Looking for innovative online consulting business ideas that let you earn money from the very first month? Then read this post till the end to become a successful online business consultant! And yes, I have shared a consulting contract template which you can download (Free) and customize it for your consulting business.
[Updated on 23rd Jan 2020]
Planning to start a business and looking for innovative online consulting business ideas? That’s quite a great decision you have taken! Why? Because the consulting market globally has experienced steady growth over the past few years.
With a value of more than $250 billion, consulting is considered one of the largest professional service sectors worldwide. No wonder, educated youths are now hunting for innovative online consulting business ideas which assure financial freedom.
Why Should You Consider Starting an Online Business Consulting Now?
The best part about online business consulting services is that the sector has managed to shield itself from challenging economic conditions. As more and more companies try to reduce their overhead costs and stay lean, the consultation trend is getting a boost like never before.
If you know a particular subject well and have adequate experience and expertise, then you can easily find online business consulting jobs. Else you can start your own online consulting business.
Here I have shortlisted 15 innovative online consulting business ideas. Also, I have provided additional information about the online business consulting platform. These are the platforms you can join to gain some experience in case you are not yet ready with your online consulting business plan.
And last but not the least, I have added a consulting contract template, which is free to download.
What Are The Innovative Online Consulting Business Ideas That Make Money From Day One Itself?
Social Media Management – One of the Easy to Start Online Business Consulting Services
You must be aware of the scenario right now where big companies are fully utilizing the power of social media to achieve business goals. Yet a majority of small businesses still lack the necessary skills to use social media platforms to their advantage. This opens up huge opportunities for those who have a deep understanding of different social media platforms. If you know which social platform works best for what type of business then you can work out a winning social media plan.
If you pick up social media consultation, you will be handling varied responsibilities. Some of the tasks include
Designing a result-oriented social media strategy for clients,
Setting up social media business pages to increase followers,
Maintaining regular communication with existing and new clients, and so on.
Related Reading: How to Start Social Media Marketing Business
Public Relations Consulting – One of The Best Consulting Business Ideas For the PR Professional!
Most companies are cognizant of how important it is to get panoptic coverage for their business. This is why business-minded organizations are constantly looking for PR skills. If you are rightly proud of your public relations expertise, then you can become a PR consultant.
It is one of the top innovative online consulting business ideas that can help you make a lot of money in a short period of time.
Internet Marketing Management – One of the Profitable Online Business Consulting Services With Great Growth Potential
Nowadays, more than fifty percent of financial transactions are taking place over the internet. As an ever-growing number of customers now prefer to procure products and services online, enterprises are increasingly seeking to strengthen their digital presence the best way they can.
You have a tremendous scope of generating revenue in this emerging domain. If you are an Internet marketing expert, and can adeptly manage CMS, you can easily find online business consulting jobs. Also, it helps, if you know about digital campaigns, online advertising, PPC, and SEO. But this business demands thorough planning to efficiently address the client’s present and future needs.
Automation Consulting – Growing at a Steady Pace
If used intelligently, automation can drastically augment a company’s efficiency by optimizing its resources. Therefore automation has become a mandatory requirement for businesses now. Yet, there are numerous medium-sized businesses that have no idea about the many benefits of automation applications.
This tends to create a widespread marketplace for automation consultants. Considered among the hottest online consulting business ideas, automation consultancy is here to stay. In fact, the demand is expected to rise by leaps and bounds.
Career Counseling – An Attractive Online Consulting Business Idea To Start From Home
Due to the uncertainty in the global economy, many have suffered and still suffering from business downsizing. These qualified individuals are now seeking help from career consultants to bring their careers back on track. Therefore the demand for professional career consultants is on the rise.
If you have some prior experience in career consultancy and now want to start an online consulting business from home, then remember a few important points. As a career consultant, you should offer the following consultancy services:-
- Evaluate the needs of candidates,
- Prepare career-related documentation, and circulate these among candidates to help them decide the right career path
- Provide coaching, and offer interview tips
- Offer all sorts of job-search assistance.
Reputation Management – One of the Unique Online Business Consulting Services Which is in High Demand Now!
Nowadays anyone can access the internet 24×7. And this often leads to damaging information going viral within a few seconds. However, this creates a whole new consulting opportunity for reputation management consultants.
If you chose to start an online consulting business as a reputation management consultant, your job responsibility will include the following:
- Delete online errors,
- Downplay negative reviews,
- Address concerns and grievances of social media followers,
- Highlight positive aspects of the client with proper evidence
- Publish posts and news that highlight the client’s image on social media and beyond
Communication Monitoring and Consulting
Both small companies and large organizations continually require communications consultants to ensure the efficient operation of businesses. As a communications consultant, you should be able to improve connectivity between employees and management. Your ultimate goal should be to eventually optimize business output.
Leadership or Team Building Consulting Is Emerging as One of the Most Popular Innovative Online Consulting Business Ideas
A leadership consultant, also known as a team-building consultant works directly with the top management of a company.
As a leadership consultant, you need to make the management aware of its leadership abilities and responsibilities. The ulterior purpose is to motivate employees to work under them.
You should also be prepared to offer lessons related to problem-solving, decision-making, and trust-building.
Advertising Concept Consultancy – One of the Glamorous Online Business Consulting Services
Remember that an advertising consultancy business is typically driven by a few key ingredients like efficacious interpersonal skills, branding expertise, and a creative mind. If you are an individual with a marketing background, then surely you enjoy considerable advantages. As an advertising consultant, you should be able to lead enterprises in developing effective advertising strategies that promote the brand, goods, and services.
Read to know more about the role of an advertising concept consultant.
Start-up Advisory Is the Most Sought-After Innovative Online Consulting Business Ideas Today
A startup consulting firm offers end-to-end services to emerging startup businesses. As a startup consultant, you can start by researching the sustainability of a business model. Then you need to monitor processes like
- creating business plans,
- making financial projections,
- drafting investor pitches,
- designing marketing campaigns, and
- promoting the idea.
If you possess these sets of skills, then a startup consultancy business is for you.
Bookkeeping – One of the Traditional Consultancy Business Ideas To Consider Online/Offline
This is one of the best online consulting business ideas for people who know e-filing, bank reconciliation, sales tax, service tax, payroll management, etc. If you have an accounts background, then you can start this online consulting business from home without any investment.
You need to be conversant about the entire bookkeeping process. It’s better if you know how to guide organizations that want to outsource their accounts processes. You can also offer bookkeeping consultancy services as a freelancer.
Travel Consulting – One of the Best Online Consulting Business Ideas to Earn Doing Something You Love!
Love traveling? Visited many places? Then you can use your first-hand experience to start an online consulting business to fulfill the travel needs of individuals and corporate clients.
You definitely need a well-designed website to start your career as an online travel consultant. If you want to save costs, a self-hosted WordPress site is a great option to launch your travel consultancy platform from home.
You make the entire travel arrangement based on the client’s travel wishes and budget. Travel consultancy is one of the innovative online business consulting that can be exciting and glamorous!
Fitness Consulting – Steady Flow of Clients the Year Round!
With an increasing number of people wishing to drop weight, fitness has become one of the profitable niche markets to earn fast money online. As a fitness consultant, you should know how to help your clients achieve fitness-related goals. In case you have a knack for fitness or have accomplished weight loss goals in the recent past, then fitness consultancy is the perfect option for you.
Event Management – Great Consulting Business Idea for Young Entrepreneurs to Consider
It definitely helps if you have graduated in events management or a related stream. However, the best part about this business is that you don’t always need a proper qualification to get started. You can start an event management agency if you have relevant working experience in this field. What you definitely need is superior organizational and planning skills.
The best part about event management online consulting business services is that you can cater to different types of customers both individual and corporate. Ideally, your event management business should cover
- Small and medium business events,
- Educational institution functions,
- Religious events,
- Political meets,
- Marriage and social functions.
Franchise Management – One of The Fast Growing Online Consulting Services With Huge Income Potential
If you have some idea about the franchise business then consider this online consulting business idea. As a Franchise consultant, you should be prepared to provide online business consulting services to both franchisor and the franchisee.
Typically the franchise consultant offers guidance to a potential franchisee and helps him find the right type of a franchise, matching his profile and other criteria.
As a franchise consultant, you should be prepared to help SMEs also. How? There are many small and medium business owners who want to take the franchise route to expand their business. You should be able to guide them through this process of converting the business into a profitable franchise.
200+ Small Business Ideas From Home
Consulting Contract Template – Download and Customize it!
Additional Information About Online Business Consulting Platform
Not yet ready to start your own consulting business? Then you can explore some online business consulting jobs also. You can simply visit the best online business consulting platform, post your profile and let recruiters know what types of online consulting services you want to offer. Right now there are many online marketplaces that connect independent consultants with business organizations. You need to do your own research to find out the best online business consulting platform, that meets your requirements.
Online marketplaces that deserve special mention in this regard are Localsolo, Expert 360, SpareHire, Talmix, CoMatch, TapChief, Clarity, Credo, etc.
Take your pick from the above-mentioned online consulting business ideas but make sure to do your own research before you actually invest money to start your own consulting business. Prepare a detailed consulting business plan to eliminate as many future hiccups as possible!
Yes, you can but … you need to ensure that you have enough money to sustain for the next 6-12 months. You should have a good team of advisors to offer advice as and when needed. It definitely helps if you have prior work experience in a consulting firm. This can help build up contacts related to your functional areas.
As a small business consultant, you have to undertake several responsibilities. It starts with planning a business model and ends with its successful execution. Also, you have to help your clients improve their business skills and knowledge. If needed, you have to arrange the training and do problem-solving as well.
What Types of Business Consultants Are in High Demand?
There are typically 6-7 distinct fields where small businesses need consultants to help them out. These are Financial Advisory (including financial risk management), Business Strategy and Skill Development, Governance-Risk-Compliance (GRC), Business Process Management, Taxation, Business Operations, Human Resources, and finally IT.
It totally depends on your level of expertise and experience. Also, you need to consider your specific industry-standard while charging your clients for consulting services. Try to work out the hourly rate, based on the number of work hours you plan to devote every week.