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What business advice do you recommend, continue consulting or get a job?

I run a small consulting practice that I have been self funding. Up to now, I've been doing all the marketing, networking, pipeline building, and working as a consultant. In order to grow and I need a sales person. The problem is my own consulting work has stopped and I only have 5 months reserves left before I'm out of money. What is recommended, find a sales person who will work on commission or month-by-month, continue for another month doing it myself, or look for a full time job? Is it worth going into debt? What alternatives do I have?

Answers

Topic Expert
Regis Quirin
Title: Director of Finance
Company: Gibney Anthony & Flaherty LLP
LinkedIn Profile
(Director of Finance, Gibney Anthony & Flaherty LLP) |

The answer to this question will always be, it depends. For a small business, with little or no brand recognition, it is not advisable to separate Sales from the one doing the work. If you sell a product or service that can be produced/transacted by somebody else, the only differentiator is YOU. People want to do business with your Consulting business, because they are getting YOU. Delegating that responsibility is not effective.

Balbir Singh
Title: Prop.
Company: Ontime collect
(Prop., Ontime collect) |

I suggest to join some consulting firm on fee sharing basis.

Topic Expert
Kent Thomas
Title: Founder
Company: Advanced CFO Solutions
(Founder, Advanced CFO Solutions) |

It is difficult for a sales person who does not thoroughly understand your business to sell a consulting service. Most successful consulting services thrive on referrals from current or past clients and their network of service providers, bankers, lawyers, etc. If you aren't getting referrals and you want to continue consulting, you need to get a couple of good clients, deliver exceptional results while you continue your business development & networking efforts. It takes a lot of time and work so if that isn't worth it to you, I suggest that you seek full time employment in a more predictable environment.

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