BSBDC gives tips on starting a consultancy
Entrepreneurs were given an insight into launching their own consultancy business at a seminar held by the Bermuda Small Business Development Corporation (BSBDC) at the Fairmont Hamilton Princess.
The consultant networking seminar, which was attended by 100 people including business owners, tax and social insurance officers, lawyers, bankers, accountants, marketing and communication specialists, IT professionals, insurance agents and managers,
The three-hour event kicked off with a welcome from the BSBDC's general manager Michelle Khaldun who introduced the subject of starting a consultancy business and the need to network with business service providers and other entrepreneurs, chosen by popular demand.
Kerry Judd of New Beginnings, with more than 10 years experience in the marketing and communications industry, who recently started her own consultancy business then talked about the need to establish the owner/consultant as the brand.
She advised when developing the business to be clear on your mission, core values, personality and service to build your reputation as a valuable partner with your client, adding that you don't need a lot of money to market your business but focus instead on establishing and expanding your relationships and networks to procure and maintain a successful client base.
Keiva Maronie, associate and owner of The Property Law Group, was next up, providing tips on the importance of seeking professional advice on entering into a commercial property lease and purchase. Ms Maronie's real life stories underscored the fact that getting a lawyer's advice when challenges arise with a landlord are inevitably more costly than having a legal professional with the relevant experience review the lease before signing.
Trott & Duncan senior associate Carla Lambert then gave a power point presentation covering the essentials of the consultant's contract, government obligations as a self-employed person, the differences between the sole proprietor and the limited liability company. This comprehensive guidance and clear instruction which normally costs at least $200 to $250 was provided for those attending as part of their $50 attendance fee.
Richard James of Covenant Holding Ltd. was the final speaker of the evening. His presentation complemented Ms Judd's remarks regarding the use of well-honed technical skills and experience with clear and trustworthy client communications.
As a skilled management consultant with both public and private sector experience, Mr. James' presentation drew agreement with the experienced service providers and engaged the aspiring entrepreneurs to begin their businesses by balancing the technical experience offerings with utilising the building of trustworthy sustainable relations as the bedrock of their businesses.
Ray Jones, BSBDC acting controller and organiser of the event, praised the commitment and enthusiasm of the participating service providers who eagerly networked with the attendees and shared information about these services for entrepreneurs, and thanked Butterfield Bank, Capital G, Freisenbruch Meyer, and the Stratford Group for their raffle prizes.
For more information on this event and our upcoming seminars contact the BSBDC at info[AT]bsbdc.bm or visit the website at www.bsbdc.bm