2004 Eloquor Consulting, Inc. Stacy Wilson, ABC (www.eloquor.

com)
Starting A Communication Consultancy
A Template Approach

When you are establishing an independent communication consultancy, four start-up issues are critical:
company name; networking; structure and staffing; financial management; professional and personal
development; and technology, administrative support and office space.

Company Name

Step 1: Does your family name have substantial recognition and awareness within your target network?
Yes No
If yes, use the family name and skip to Step 3. If not, read on.

Tip: Create a descriptive name. Sonja Muller, owner of afino consulting
in Berlin, Germany, chose afino because it means refinement, elaboration
and melioration in Spanish, which she found suitable to describe her
company. Be careful, however, that the name you choose doesnt have an
inappropriate meaning in another language.

Step 2: Brainstorm some ideas
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Resources to consider:
! Language dictionaries (including Latin, Greek, English, Spanish, Japanese, etc.)
! Google
! Bartletts Familiar Quotations
! Childrens books
! The U.S. Patent & Trademark Office web site

Step 3: Do you intend to trademark your name?
Yes No
If no, go to Step 4. If yes, read on.

Tip: Research whether the name is already being used. A trademark
search will also uncover similar names that could make it difficult for
you to secure a trademark. If you decide to trademark your name, be
aware that it may take two years. You can take care of everything
yourself, but a trademark attorney can smooth the process, saving you
valuable time for business development.

Step 4: Will your business be a virtual firm?
Yes No
If yes, youll probably want a moniker devoid of surnames in case someone leaves the group.
Starting a Communication Consultancy Template
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2004 Eloquor Consulting, Inc. Stacy Wilson, ABC (www.eloquor.com)

Networking
Almost without exception independent communication consultants agree that networking is essential to
finding and keeping clients.

Get connected with people, even before you head out on your own
Which contact are you going to pursue when?

Q1 Q2 Q3 Q4
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Tip: Dont try to be everything to everybody. Pick a niche that the
market responds to and focus on that. This will help you narrow your
target list too.

Get your byline published
List publications where you have or could publish an article or with which you have a contact.
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Serve as a speaker at conferences and professional association meetings.
List the professional associations you belong to or intend to target and the conferences where you could
speak.
Associations Conferences
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Starting a Communication Consultancy Template
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2004 Eloquor Consulting, Inc. Stacy Wilson, ABC (www.eloquor.com)
Marketing and Goodwill Techniques
All of the following might not be feasible for your new business, but its a good idea to try some of them.
! Send holiday or birthday cards via direct mail to prospects and customers
! Publish a free electronic newsletter or send interesting articles via e-mail
! Create a web sitemost independent communication professionals do
! Develop print collateral (e.g., brochures, postcards, etc.)
! Join a professional association

Tip: Stacy Wilson, ABC, owner of Eloquor Consulting, Inc., sends
finely finished note card sets, custom-made by her photographer
husband, as holiday gifts to her best clients.

Structure and Staffing
Seek the counsel of attorneys or accountants on business structure, keeping in mind state-to-state and
country-to-country variations. If you are establishing a business in the U.S., consider
! An S or C corporation requires more paperwork, but allows the easy addition of salaried and
hourly staff and has some tax benefits with regard to deductions. Although it is fairly easy to
move from an S-Corp to a C-Corp, doing the reverse is more difficult.
! A Limited Liability Corporation (LLC) offers greater liability protection and more flexibility to
add partners or sub-LLCs later.
! A sole proprietorship offers much less paperwork, but little separation from personal finances and
no liability protection.
! Virtual firms are typically LLCs with several partners representing different disciplines. They
market and network together, collaborate on project work, and serve as sounding boards and
motivators. Each partner feeds a capped percentage of profit into the business, which pays for
marketing, tax preparation, etc.

Tip: Most independent communicators dont add employees right away.
Those considering it typically do so within the first two to three years.
Most prefer to subcontract for project support services.

Tip: Many senior communication consultants tap other senior
consultants as project collaborators, buying even just a few hours of time
to brainstorm together. This is a great way for both to gain new insight
and skills.


Financial Management
Lack of experience in financial management is often the biggest obstacle to making the move to
independent consulting. Move beyond these fears and get started by
! Consulting with an accountant who can lay out all of the initial and ongoing requirements for
business operation
! Picking a software accounting tool that fits your business model and is compatible with your
accountants computer systems
! Creating a safety net
! Creating and using a contract
! Exploring business insurance.

Starting a Communication Consultancy Template
Page 4 of 5

2004 Eloquor Consulting, Inc. Stacy Wilson, ABC (www.eloquor.com)
If you incorporate, set up a payroll system. Benefits include
! Psychologically, it feels better to get a regular paycheck
! A payroll system allows automatic withholding, which keeps your tax filing cleaner.

Tip: Setting up payroll means you have something to show the bank
when you refinance your house or take out a new loaneliminating the
problem many self-employed people have in proving income

Set up your safety net by obtaining a home equity line of credit, or some other secured loan, which can
lend the business money to make payroll if times get lean.

Ask colleagues for sample contracts or request a template from the Small Business Administration. Work
with your attorney to refine and review contracts. Always have a signed contract in hand before beginning
work.

Talk with your insurance broker about the many different types of insurance available and what will be
right for you and your business:
! Healthcare (medical, dental, vision)
! Disability (really important if you are the sole provider)
! Accidental Death and Dismemberment
! General Liability
! Professional Liability
! Automobile Liability

Tip: Some larger corporations require certain insurance certificates of
their contractors. Be prepared to produce the certificates or explain why
you dont carry a particular insurance.


Take Care of Your Own Professional and Personal Development
To project a professional stance and self-confidence, an independent consultant has to know what they are
talking about. Here are some tips on how you can stay up to speed on whats going on:
! Get accredited
! Go to conferences and professional meetings
! Hire other senior communicators to partner with you on projects so you can learn from them
! Listen to what clients are already doing that is cool and cutting-edge
! Take a vacation now and thenpreferably away from voicemail and e-mail

About Technology, Administrative Support and Office Space
An independent consultant can sometimes feel alone without all the support we get used to in a corporate
environment. Surround yourself with the tools and resources you need to be successful.
! Invest in the technology that will help you to do the job
! Become a technology junkyknow how things work and how you can leverage technology to
give the appearance of larger, more expansive services
! Establish a set of templates for letters, contracts, invoices, etc., that will make the administrative
grind easier
! Find a virtual administrative assistant to help with editing, proofing and fact checking
! Design your office space to ensure you can be comfortable and productive
Starting a Communication Consultancy Template
Page 5 of 5

2004 Eloquor Consulting, Inc. Stacy Wilson, ABC (www.eloquor.com)
Small Business Resources

Regulatory Agencies
U.S. Small Business Administration
www.sba.gov

U.S. Internal Revenue Service
www.irs.gov


International Trademark Association
www.inta.org

International Government Regulatory Agencies
http://www.dsrd.vic.gov.au/CA256ADF00214A
61/All/CDB9DEF3C5B47E9ECA256AE600099
C91?OpenDocument

Insurance
IABC Member Discounts and Programs
www.iabc.com/members/memdiscounts.htm

Americas Health Insurance Plans
www.hiaa.org

State-Specific Health Insurance Guides
www.healthinsuranceinfo.net

International Insurance Advisors
www.iia2000.com

Open Directory of Insurers
http://dmoz.org/Business/Financial_Services/Ins
urance



Business Tools
Webex.com
Raindance.com
Webconference.com
Marratech.com
Meetingcast.com

Collections
Dun & Bradstreet: http://sbs.dnb.com
ABC-Amega, Inc.: www.abc-amega.com

Online Newsletters, Surveys and Faxes
www.clickndrop.com
www.spss.com/pwa
www.advancedsurvey.com
www.enablingbiz.com
www.graphicmail.com
www.efax.com
www.faxaway.com

Project Management
Microsoft Project: www.microsoft.com/office/project/default.asp
AEC FastTrack Schedule: www.aecsoft.com
Ace Project: www.aceproject.com
Artemis International Solutions: www.aisc.com/us/lang_en/company/about_artemis/default.asp

Financial Management
Intuit Quickbooks: www.quickbooks.com
MYOB AccountEdge: www.myob.com/us/products/accountedge
Appgen MyBooks: www.appgen.com/products/mybooks.html
Peachtree Accounting: www.peachtree.com
ACCPAC International Simply Accounting: www.simplyaccounting.com