Author Topic: Starting Analytics Consultancy - don't know what I'm doing  (Read 1240 times)

clairebonk

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Starting Analytics Consultancy - don't know what I'm doing
« on: September 07, 2017, 07:03:16 PM »
I have a great occasional side gig doing analytics/data/sql/programming consultation. Pays really well. I only have 1 client right now. I would like to find more clients. Do I need an LLC? A website? Where do I find more clients? I would like to turn this into something so I can work ~10 hours/week. Maybe even have employees that can take on full time work while I stay super part-time. I have no idea where to begin, have no network that does this sort of thing, and am not a great self-promoter.... anyone have tips? Thanks!

AlanStache

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Re: Starting Analytics Consultancy - don't know what I'm doing
« Reply #1 on: September 07, 2017, 07:25:20 PM »
Also depending on how you want this to go you need to make sure your tools are all legit for paid employment.  Some places may be more interested in this than others.  But I think to get more work you will have to do some leg work. 
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MaaS

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Re: Starting Analytics Consultancy - don't know what I'm doing
« Reply #2 on: September 07, 2017, 09:14:06 PM »
I have a great occasional side gig doing analytics/data/sql/programming consultation. Pays really well. I only have 1 client right now. I would like to find more clients. Do I need an LLC? A website? Where do I find more clients? I would like to turn this into something so I can work ~10 hours/week. Maybe even have employees that can take on full time work while I stay super part-time. I have no idea where to begin, have no network that does this sort of thing, and am not a great self-promoter.... anyone have tips? Thanks!

You don't have to have an LLC, you can do business under your own name as a sole proprietor.  With that said, incorporating is generally a good idea as it provides some legal protection.  Look into an S-corp, it'll save you a ton on taxes.

For finding clients, I'd start by building a LinkedIn network of your target buyer.  It's where I find almost all of my consulting clients.

Edit: Also, nobody knows what they're doing right away.  Heck, I'm six months of full-time consulting (two years part-time) and still make it up as I go.

SeattleCPA

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Re: Starting Analytics Consultancy - don't know what I'm doing
« Reply #3 on: September 08, 2017, 01:09:16 PM »
You probably don't want to use an S corporation (or more precisely set up an LLC and elect Subchapter S status)... economics are really tough even ignoring state taxes...

https://evergreensmallbusiness.com/should-you-use-an-s-corporation-for-a-sideline-or-part-time-business/

And then even after that, note that California's LLC and S corporation franchise taxes are pretty expensive... no matter what, at least $800  a year.

https://evergreensmallbusiness.com/primer-on-california-s-corporation-taxation/

I would think a simple sole proprietorship is your best bet for a sideline gig.

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rhadams1988

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Re: Starting Analytics Consultancy - don't know what I'm doing
« Reply #4 on: September 10, 2017, 05:26:52 PM »
I'm have considered doing some Analytics consulting on the side, but I don't where I'd start finding clients. How did you find your first client?

clairebonk

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Re: Starting Analytics Consultancy - don't know what I'm doing
« Reply #5 on: September 11, 2017, 07:16:39 PM »
My first (and only) client is a start-up which lost funding so they couldn't hire me full time. I'm a SAHM and also their on-call analyst. A very nice gig. It's a small company so I work directly with directors and the CEO, so at some point I will get up the nerve to ask the CEO to recommend me to other people. I've thought about using some freelance sites but haven't gotten around to it yet. I was also on a non-profit board for many years so can foresee volunteering and then asking to get paid when they realize how awesome I am, but the money isn't as good. I also have some grad school friends that are now professors that ask for free help sometimes, maybe someday they will have status & grants enough to pay me.

jamccain

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Re: Starting Analytics Consultancy - don't know what I'm doing
« Reply #6 on: September 21, 2017, 10:19:22 AM »
I would find and hire a good coach to help you...you probably think you can't afford it, I think you can't afford not to do it. 

retireatbirth

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Re: Starting Analytics Consultancy - don't know what I'm doing
« Reply #7 on: November 09, 2017, 05:45:00 PM »
How is the business going? I'd like to do something similar.

hgjjgkj

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Re: Starting Analytics Consultancy - don't know what I'm doing
« Reply #8 on: November 12, 2017, 08:35:07 PM »
My first (and only) client is a start-up which lost funding so they couldn't hire me full time. I'm a SAHM and also their on-call analyst. A very nice gig. It's a small company so I work directly with directors and the CEO, so at some point I will get up the nerve to ask the CEO to recommend me to other people. I've thought about using some freelance sites but haven't gotten around to it yet. I was also on a non-profit board for many years so can foresee volunteering and then asking to get paid when they realize how awesome I am, but the money isn't as good. I also have some grad school friends that are now professors that ask for free help sometimes, maybe someday they will have status & grants enough to pay me.

Sounds cool, I would start by looking Linkedin, upwork and catalant for more clients. You would be surprised what you find if you set aside like 30 mins 3x a week to look through those