6. Management Consulting: The field of management consulting continues it's 16th year of growth. The field consists of big firms to small boutique shops and independent consultants. Although there are 75,000 independent consultants in the U.S., future prospects look strong mainly because consulting is driven by globalization, deregulation, fast technological change, and the current outsourcing trend. Typical fees range from $100 per hour, to top consultants commanding fees of $500 per hour.
Building a management consulting business can be industry specific (pharmaceuticals or retail) or function specific (waste management or leadership training). Carefully select your sector. According to Association of Management Consulting Firms (AMCF), pharmaceutical consulting grew 31.6%, while systems development consulting dropped 23.9%.
7. Search Engine Optimization Business: Search engines remain the top Internet tool for shoppers to research purchases. The Association of National Advertisers states, 75% of U.S. big companies use search engine positioning. For large and small companies optimizing their web pages to provide top listing in search engines such as, Google, represents a task to be outsourced to professionals. The search engine optimization (SEO) field is is growing. The skills required to succeed in this business opportunity, as rated by SeoPros.org are: understanding reciprocal linking, ability to develop keywords, html knowledge, and strong language skills.
8. Public Relations Consultant: In an over communicated, over advertised society, public relations (PR) helps a company break through the clutter and gain credibility with it's market. Authors, Al and Laura Ries of "The Fall of Advertising & the Rise of PR", see the change in marketing where public relations should come first, and advertising second. Freelance PR consulting offers varied projects and a high level of creativity. The average freelancer makes about $85,000 per year, reports the Council of Public Relations Firms.
9. Home Inspection: Buying a home is a large investment creating a need for due diligence. Home inspectors offer real estate buyers an in-depth, unbiased, inspection of a home for purchase. To take advantage of this business opportunity, one needs training and certification. Remember, the real estate market runs in boom and bust cycles, so consider offering regular maintenance inspection contracts to survive a slow down when a hot real estate market cools.
10. Information Professional: Searching the Internet for information is often an exercise in frustration. Companies of all sizes need timely and accurate information to make intelligent business decisions. This is where the information professional or researcher is needed. Information researchers access the Internet and online databases, using advanced search techniques beyond the scope of most average Internet users.
Fees typically range from $75 to $200 per hour. Professionals specializing in areas such as, biotech or pharmaceuticals command higher fees. Invest in a good computer system and high speed Internet connection for entry into this growing field. The bigger challenge is building a strong client base for regular business. For more information, visit the Association of Independent Information Professionals (AIIP).
Selecting a new business to start is the most trying task for new entrepreneurs. Consider your passions, skills, and experience, before embarking on your small business venture.
