Advice for growth.

Clm

In the future i want to run a full time Consultancy/ MSSP firm specializing in Cloud Security. Now Im not talking this year closer to five years from now. I currently have a few short term engagements with my LLC and i really enjoy it and would love to continue it . my question is has anyone started a successful IT/IS consultancy/MSSP? What advice do you have any books or papers you would recommend? any advice would be greatly appreciated.

Also any of you decision makers what do you look for when you consider a third party organization.

paul78

How do you define successful for yourself? It's great that you have this goal.

I don't have any specific suggestions but it helps tremendously to have a good network and relationships. A lot of our consulting is word of mouth and referrals so it helps to start building a reputation as soon as you can. To expand, we really have to gear up on marketing so that's one thing that I'm trying to experiment with.

One thing about starting a business is that you have to be committed to it. And have the discipline to do what it make it viable. There's gonna be up's and down's and I think that certain life experiences can help weather those cycles.

Clm

paul78 wrote: »

How do you define successful for yourself? It's great that you have this goal.

I don't have any specific suggestions but it helps tremendously to have a good network and relationships. A lot of our consulting is word of mouth and referrals so it helps to start building a reputation as soon as you can. To expand, we really have to gear up on marketing so that's one thing that I'm trying to experiment with.
One thing about starting a business is that you have to be committed to it. And have the discipline to do what it make it viable. There's gonna be up's and down's and I think that certain life experiences can help weather those cycles.

for me successful would be being able to pay my current salary and having 10+ full time employees in that range I Dont have a set number but I think i wolud be extremely happy with 75k+ pure profits yearly

paul78

That's awesome. I'm always appreciative of anyone that's willing to start a business and create jobs. Even if it's just you to start, that would be one new job created.

It sounded like you already took the first 2 steps which is (1) get started (2) get a customer. The next step when you are ready is to commit to do it full-time. For me, I prefer to have a business partner. But that's up to you.

Given your goals and you don't have to over-think it. I found that it is helpful to write-down some milestones and goals. Almost like a business plan. I personally think that remaining agile when you start is important so using quarterly goals would be better.

To support 10+ employees and/or contractors and assuming that you labor arbitrage some of the contractors - you will need recurring revenue of probably in the USD$2-3MM range. So plan for how you want to get there.

As for what you can do today - a couple of things to consider.

1. Go on as many sales and customer calls as you can
2. Understand basic marketing concepts. And maybe try out some stuff on your existing website brand - adwords, etc.
3. Attend meetups
4. Try to get speaking engagements
5. Understand how to create partnerships and be willing to subcontract to another firm
6. Don't stress the little stuff.
7. Save enough of a cushion for when you start
8. Make sure you have an exit/backup plan if things don't work out

Clm

paul78 wrote: »

That's awesome. I'm always appreciative of anyone that's willing to start a business and create jobs. Even if it's just you to start, that would be one new job created.

It sounded like you already took the first 2 steps which is (1) get started (2) get a customer. The next step when you are ready is to commit to do it full-time. For me, I prefer to have a business partner. But that's up to you.

Given your goals and you don't have to over-think it. I found that it is helpful to write-down some milestones and goals. Almost like a business plan. I personally think that remaining agile when you start is important so using quarterly goals would be better.

To support 10+ employees and/or contractors and assuming that you labor arbitrage some of the contractors - you will need recurring revenue of probably in the USD$2-3MM range. So plan for how you want to get there.

As for what you can do today - a couple of things to consider.

1. Go on as many sales and customer calls as you can
2. Understand basic marketing concepts. And maybe try out some stuff on your existing website brand - adwords, etc.
3. Attend meetups
4. Try to get speaking engagements
5. Understand how to create partnerships and be willing to subcontract to another firm
6. Don't stress the little stuff.
7. Save enough of a cushion for when you start
8. Make sure you have an exit/backup plan if things don't work out

some solid advice i appreciate it i will keep everyone informed hopeful;y i blow up lol