How to set up and sustain your new consulting business as a single practitioner or as a freelancer?

Many always ask and want to know what makes for a good consultant? If you can answer these questions, you are more than likely a good consultant with whom people would be wise to meet to consult for any issues.

You should know about the capacity of standard reputable consultants as you are not just paying for 10 minutes of their time, instead you are paying for 30 years of wisdom and it’s usually worth more value than the money.

When we choose a consultant, we must take note of their previous roles and responsibilities, their industry reputation, and their knowledge compared to other consultants. Companies can find their position in the market by comparing, or benchmarking. Benchmarking is the process of comparing a company’s metrics to the metrics of industry competitors or to those of innovative companies outside the industry.

Some of the following tips may be helpful when conducting this analysis:

One tip is not to sell a project for its component parts. If you think you can complete a project in +/-12 hours and full-time employees who completes this work earn $60/hour in the Middle East for their services, use this information as a guide while you determine the value of your work to your client and its worth accordingly.

Secondly, an industry analysis used as an input to a strategic plan is Porter’s five forces. Porter’s five forces is a frame work for the five competitive forces that influences profitability in any industry. These are outlined in Porter’s model as competitor rivalry, the bargaining power of buyers, the bargaining power of suppliers, the threat of new entrants and the threat of substitute offerings. Porter’s five forces was developed by Michael E. Porter, Bishop William Lawrence (University Professor at Harvard Business School).

Who is Mathew Mathai?

A stakeholder, CEO and Technical Director of Orbit International Survey Services LLC (ORBITISS). A reputable Industrial consultant and Inspection services company in the UAE, Middle East. He has more than 35 years of tremendous experience in the different fields of oil, gas, Renewable Energy and nuclear energy sectors. He served in McDermott Incorporate, an American company, for 23 years up until 2009. He handled various prestigious projects such as Spar Hull, offshore floating and fixed modules, jacket and decks, subsea pipelines etc. as a project Quality/Manager. Between 1969 and 1972 he worked in Quality surveillance department, PPED, as a scientific officer for Baba Atomic Research Center Mumbai, India. He was also the Welding Engineer in Larsen and Tubro ( L &T), one of the prestigious international company in India, prior to joining Atomic Energy. During the period of 2009-2012 he was involved in the Strategic project of UAE ADCO pipeline as Team Leader of GL Third party certification for the integrity and safety of the entire project.
Mathew Mathai developed his own Quality awareness and Cost of Quality system that makes it easy to learn the best way to benchmark. He presents it as a part of his training seminars and Consultancy services.

Is this article useful for you? Does it add value to you or your Industry?

For more details, he will be able to give you an answer to your question. He is available on his email: mmathai@nelpurackal.com and or Contact ORBITISS, email: orbitiss@eim.ae; Telephone +97165757499