The world has changed.
And with it, so has businesses.
With the introduction of newer technology and digital transformation, businesses are increasingly relying on consultants.
Do you have a specialized skill-set?
Can you use these skills to offer professional consulting services to businesses?
If yes, then starting a consulting business might be your next best move.
In 2023, the demand for subject matter expertise has surged. The rise of the independent consultant is one of the most significant trends in the consulting industry today. And time time is ripe for you to ride the wave.
Convinced enough?
Here are 15 unique, new and in-demand consulting business ideas that can help you get started in no time flat.
15 Profitable Consulting Business Ideas
1. No-Code Tech Stack Consulting
Background:
A no-code tech stack refers to development tools that facilitate software or app building without coding.
It is a godsend for non-techies who love DIY projects. Companies are leaning more towards no-code software since it cut down on intensive coding efforts leading to better resource management.
No-code platforms have become the most crucial investment reason for more than 26% of business owners, which has doubled since 2020.
However, entrepreneurs just starting out with no-code might come unstuck due to a learning curve involved.
The Idea:
Build a team of expert designers, no-code developers, QA professionals and create a platform for clients to approach with tech stack building and coding needs.
You can also niche down to two or three industry-specific no-code consulting.
Factsheet:
- Industry/Category: Development/ tech architecture
- Possible Business Model/s : Subscription-based/ transactional
- Revenue Potential: $15,000 to $100,000+ per month.
- MVP Build Time: 2 to 8 weeks
- Successful Examples: NoCode Consulting, Stackrie
2. Build-in-Public Consulting
Background:
Building in public is when your consultancy helps in generating traction toward your client’s business.
Building a community, using early feedback, and creating a trustworthy voice launches the business on a smooth sailing trajectory.
A powerful word-of-mouth engine garners publicity, which supplies brand value – which in turn helps the company grow.
CopyAI went from $1 to $50,000 MRR organically in four months by building in public. And they did it by posting monthly updates on Twitter.
Creators and start-ups often fail at implementing their own BIP plan and that is why they reach out to consultants who can bring new perspectives into planning and execution.
The Idea:
Build a network for the client, provide early feedback, assist in advertisement and expansion, endorse and promote the business, and create an audience.
Factsheet:
- Industry/Category: Consulting
- Possible Business Model/s: Contractual/subscription based
- Revenue Potential: $5,000 to $50,000 per month
- MVP Build Time: 3 to 4 months
- Successful Examples: Public Lab
3. Digital Dashboard Consulting
Background:
In the present business world, the growing demand for advanced digital technology creates both an opportunity and a challenge for enterprises to take advantage of interactive dashboard applications and effectively illustrate key performance indicators and trends.
Using leading software tools, our dashboard consulting and development experts allow you to easily obtain snapshot views of your sales, marketing, financial, supply chain, CRM, ERP, and other departmental and operational data.
Further, we advise you on what makes a dashboard an exceptional tool for data analysts and corporate leadership. Does it display information in a clear, concise way? Can your leadership teams view both a high-level summary – and then drill down into granular detail – to get a more diagnostic view of the enterprise data?
The Idea:
Offer expert consulting services to enterprises seeking to leverage interactive dashboards for visualizing key performance indicators and operational data. Provide guidance on software tools and development to create customized dashboards tailored to the specific needs of each department.
Factsheet:
- Industry/Category: Data Visualization/ Business Intelligence
- Possible Business Model/s: Subscription-based/ Project-based
- Revenue Potential: $20,000 to $150,000+ per month.
- MVP Build Time: 3 to 6 weeks
- Successful Examples: Microsoft Power BI Consulting Services
4. Generative AI Consulting
Background
In today's fast-paced business landscape, staying ahead of the competition requires innovative approaches. Artificial Intelligence (AI) has emerged as a transformative force in various industries. Generative AI, a subset of AI, has gained significant popularity across multiple sectors. This concept involves creating content that closely resembles human-generated content, and it relies on a system called Generative Adversarial Networks (GANs), which uses two neural networks to generate and evaluate content, continually refining the output. Generative AI has found applications in creative content generation, healthcare, finance, product design, language translation, and more.
The Idea:
Generative AI Consulting focuses on harnessing the potential of generative AI for businesses. This consultancy service helps organizations apply generative AI to their specific needs, such as content generation, data synthesis, and process optimization. It offers guidance on how to leverage generative AI to enhance various aspects of business operations and decision-making, making it a valuable resource in the modern business landscape.
Factsheet:
- Industry/Category: AI Consulting
- Possible Business Model/s: Contractual/Subscription-based
- Revenue Potential: $25,000+ per month
- MVP Build Time: 3 to 6 weeks
- Successful Examples: N-iX
5. Product-Led Storytelling Consulting
Background:
Storytelling is an old-school but effective method of product advertisement. Customers often get disinterested if they can't form an associative understanding of the product.
Stories are compelling ways of convincing and attracting customers, and involving them in the company's journey.
If people love a brand story, 55% are more likely to buy the product in the future, 44% will share the story, and 15% will buy the product immediately
That is why, brands are heavily reliant on PLS consulting; niche-specific consultants are scoring high revenues from this.
The Idea:
Provide appropriate context, test, measure, and optimize product-centric storytelling – assessing people, place, plot, and purpose of execution – for your clients’ companies’ product storytelling needs.
Factsheet:
- Industry/Category: Advertisement
- Possible Business Model/s: Contractual/subscription based
- Revenue Potential: $10,000 - $100,000+ per month
- MVP Build Time: 3 to 4 months
- Successful Examples: Vec Studio
6. Product-Led Growth Consulting
Background:
Product-led growth is a business strategy that makes the product the main driver of customer acquisition, activation, satisfaction, retention, and scalable expansion.
For example, Slack and Dropbox don’t boast about the benefits of internal communication or cloud-based file sharing, but rather show the product in action.
Businesses often struggle to deliver value to the end user and gain vitality through organic expansion. PLG encourages users to try out the products for free with minimal constraints.
58% of B2B SaaS companies have a PLG plan in place, while 47% plan to double their investment in PLG strategy.
The Idea:
Posing freemium model ideas, focusing on UX, creating a strong community of product users, and consulting PLG ideas (eg. Hook Model, RICE prioritization framework, BJ Fogg Behaviour model) – are some of the elements to focus on while offering product-led growth consulting.
Factsheet:
- Industry/Category: Logistics and supply chain
- Possible Business Model/s: Contractual/subscription based
- Revenue Potential: $10,000 - $100,000+ per month
- MVP Build Time: 3 to 4 Months
- Successful Examples: Bias Digital, ProductLedHub
7. PPC Consulting
Background:
A pay-per-click advertising consultancy includes strategy, design, implementation, and analysis of ad performance - Google Ads, Facebook Ads, Programmatic, etc...
Compared to organic advertising, PPC advertising yields 50% more conversions and traffic.
Enterprises struggle with gaining popularity and creating awareness. Hence, such ad campaigns are highly sought after by companies.
Since 2021, 62% of marketers have decided to increase their PPC budgets, demonstrating the kind of outcomes PPC produces.
The Idea:
Build a team of PPC experts and help in enhancing clients’ paid advertisement campaigns, offering a unique set of skills paired with experience and expertise.
Factsheet:
- Industry/Category: Advertisement
- Possible Business Model/s: Contractual/subscription based
- Revenue Potential: $20,000+ per month
- MVP Build Time: 3 to 4 months
- Successful Examples: KlientBoost, Kaliber Performance Marketing, Ed Leake
8. Google Analytics 4 Consulting
Background:
Google will upgrade to GA4 in 2023, from the current GA3.
GA4 is an analytics service that will collect event-based data from both websites and apps to better understand the customer journey.
As Google makes this upgradation, more complex conversions can be made in the future. Engagement tracking is much more aligned with typical browsing behavior in GA4.
60% of companies worldwide opt for analytics consultancy for better functioning, and the numbers are only set to rise in the coming days.
The Idea:
Providing analytics services to clients for deeper correlation between product features and customers, faster navigation, and smarter business progress.
Factsheet:
- Industry/Category: Advertisement
- Possible Business Model/s: Contractual/subscription based
- Revenue Potential: $5,000 to $50,000 per month
- MVP Build Time: 4 to 6 months
- Successful Examples: Vsourz, GA4Experts
9. SEO Consulting
Background:
SEO requires web content curation for better visibility and relevance for any company that has a digital front.
Companies with a non-existent or weak digital presence, become invisible in the market. This on-screen era demands keeping up with the trends.
Blogs and websites need to rank high for better traffic, customer engagement, and conversion.
Companies fight to secure a spot on the first page of Google searches.
Each year companies spend more than $79 billion on SEO.
Hence, SEO consultancy has established a strong foothold in the market as the world turns digital.
The Idea:
Build a team of SEO experts to examine, analyze, and optimize clients’ website and search engine ranking for improved exposure and organic traffic.
Factsheet:
- Industry/Category: Technology
- Possible Business Model/s: Contractual/subscription based
- Revenue Potential: $10,000 - $5,0000+ per month
- MVP Build Time: 6 - 8 weeks
- Successful Examples: Skale, Grow & Convert, NUOPTIMA
10. Go-to-Market Strategy Consulting
Background:
A go-to-market strategy consultant’s job is to guide the client on how to introduce their product to the market.
It includes recognizing potential customers through target marketing.
Nearly all – 94.2% of organizations said they have some sort of account-based marketing program in 2020, up from just 23% the year before.
But lack of well-defined planning, and the activity of stakeholders, become root problems for its failure.
To combat these, businesses need positioning tactics, pricing strategies, and more.
The Idea:
Build a go-to-market strategy consulting team helping in setting buildable plans, suggesting marketing strategies, creating engagement, and adding to the image and value of the client’s company.
Factsheet:
- Industry/Category: Targeted Advertisement
- Possible Business Model/s: Contractual/subscription based
- Revenue Potential: $50,000 - $125,000 per month
- MVP Build Time: 3 to 4 months
- Successful Examples: Nicole Elizabeth, ConsultPort
11. SaaS Product Positioning Consulting
Background:
SaaS product positioning consulting includes strategies applied to software products to create demand and drive adoption and retention of the product.
This can be achieved by having a user-centered mindset, personalized messaging, continuous feedback loops, and data-informed decisions.
Correct brand placement decides the progress and growth of any company. Brands with consistent product positioning gain 10% - 20% revenue increase.
The Idea:
Build a team of SaaS experts, directing your clientele’s company to be more customer-centric, with innovative, intelligent SaaS product placement.
Factsheet:
- Industry/Category: Embedded marketing
- Possible Business Model/s: Contractual/subscription based
- Revenue Potential:$15,000 - $50,000+ per month
- MVP Build Time: 3 to 4 months
- Successful Examples: April Dunford, Market8
12. Web3 Marketing Consulting
Background:
Web3 marketing consulting deals with specialization in the digital promotion of blockchain-based products and services to create high-value marketing campaigns.
This data-driven approach utilizes the latest blockchain technology developments.
Companies need such services to deliver a rich, highly interactive customer experience. Great profit margins are achieved by such a targeted approach and this positively impacts purchase decisions.
Consultants providing this new-age technology are much in demand.
The Idea:
- Help your client’s business in achieving greater transparency and accuracy with customer targeting, getting a higher number of stakeholders, and creating more potential for tokenization and monetization.
Factsheet:
- Industry/Category: Marketing
- Possible Business Model/s: Contractual/subscription based
- Revenue Potential: $25,000 - $75,000+ per month
- MVP Build Time: 3 to 4 months
- Successful Examples: Web3consulting, Coinbound
13. Growth Marketing Consulting
Background:
Growth marketing deals with rapid experimentation across marketing channels and product development to identify the most efficient ways to grow a business.
Bringing unconventional ideas into marketing with new tech and data has grabbed the attention of companies.
The hottest trend in growth marketing is content marketing. The most successful organizations spend 40% of their marketing budgets on content marketing.
Sustainable growth and substantial marketing results are the reasons why companies are largely opting for this.
The Idea:
Build a team of marketing experts in various marketing niches, providing the client – with a mix of best growth marketing strategies for their business.
Factsheet:
- Industry/Category: B2B Marketing
- Possible Business Model/s: Contractual/subscription based
- Revenue Potential: $10,000 - $100,000+ per month
- MVP Build Time: 3 – 4 months
- Successful Examples: Daniel Johnson
14. Personal Productivity Consulting
Background:
According to NAPO, productivity consultants support evaluation, decision-making, and action around time, energy, and resources, helping clients achieve desired outcomes regarding goals, effectiveness, and priorities.
63% of high growth businesses have adopted personal productivity consulting plans and are heavily benefitting from them.
Personal productivity of a company is a crucial aspect to keep in check when it comes to integral efficiency, and that is where consultants come in.
The Idea:
Focus your personal productivity consulting on the financial, organizational, structural, and time management productivity of the client’s organization, consulting them with effective methods along the way.
Factsheet:
- Industry/Category: Consulting
- Possible Business Model/s: Contractual/subscription based
- Revenue Potential: $5,000 – 25,000+ per month
- MVP Build Time: 3 to 4 months
- Successful Examples: Fullfocus, ChrisBeaumont
15. Notion Consulting
Background:
Notion is basically the master of all trades. There’s soo much you can achieve with this simple yet powerful tool which initially began as a note-taking app.
A notion consultant creates a workspace and provides in-demand services to businesses of all shapes and sizes.
Staying relevant, and upgrading the business model, to maintain compatibility with changing times is key to success.
Businesses need notion consulting to stay adaptive to change. Notion consulting is highly opted for, by companies; and the influx is ever-increasing with the constantly changing market climate.
The Idea:
Build a team of notion experts and consult your clients in setting up their notion workspace and personalizing it according to their business needs.
Factsheet:
- Industry/Category: Project management
- Possible Business Model/s: Contractual/subscription based
- Revenue Potential: $10,000 - $25,000+ per month
- MVP Build Time: 3 to 4 months
- Successful Examples: Notiondad
16. Community Marketing Consulting
Background:
Community marketing consulting focuses on the perceived needs of existing customers of a company. Alongside gaining more customers, maintaining engagement with older customers is imperative.
Handling customer complaints, gathering product feedback, grievance redressal, and nurturing advocates are must-dos.
Companies need customer marketing consultants so that they don't lose sight of such points. 66% of companies report having better customer retention due to community marketing.
The Idea:
Create a connection of the brand to a specific community, starting conversations, and continuous communication for prolonged engagement.
Factsheet:
- Industry/Category: Marketing
- Possible Business Model/s: Contractual/subscription based
- Revenue Potential: $5,000 - $25,000 per month
- MVP Build Time: 3 to 4 months
- Successful Examples: Rosieland
Wrapping Up
Admittedly, consulting can be a tricky business to break into. But if you have the right expertise, can adapt and troubleshoot on a moment's notice, and have an eye for detail, then you might just have what it takes to succeed as a consultant.
While a majority of the consulting businesses that we have highlighted here do not require any upfront investment, you will surely have to spend money on training and gaining expertise in your desired field.
They all offer great opportunities – choose one, build your confidence and start working as a consultant to become a successful entrepreneur.
And, not only large corporates but small businesses are also seeking consultancy services. So, if you’re just starting out, small business consulting might be your way to go.
Capitalizing on the demand for your skillset might be the best decision you’ll make.
Not sure how and where to start a consulting business? This video will guide you:
Now is the perfect time to put your expertise to good use!
Now, time to answer some of your most common questions on Consulting Business Ideas:
What is the best consulting business?
We have curated the above list of 15 unique and new consulting business ideas to aid your expert journey.
Below are some consulting sectors which won’t go out of demand, anytime soon:
- Management
- HR
- IT
- Marketing
- Legal
- Finance
How do I start a consulting business?
The primary and paramount gear you need to start your own consulting business is – to master the niche in which you’re planning to become a consultant.
Once you’ve selected and mastered the niche, follow these steps thereafter:
- Specify the business model you’ll follow
- Determine your ideal client base and identify their pain points
- Create an offer and price it
- Lastly, market your services and generate leads
How do I start a consulting business with no experience?
You need not be an ABSOLUTE expert to make a move in consulting business.
However, you still need to have the upper hand in your chosen niche.
If you have no work experience, you will have to walk that extra mile, market your services, promote yourself and be persistent.
How do I find my first client?
Finding initial clients might prove difficult. Some steps you can take to find your first client:
- Network within your industry and niche
- Establish your presence online and create content
- Discover and pitch prospects
- Show your work online
How do I promote myself as a consultant?
When starting an online business, you should shamelessly promote yourself, otherwise you’ll never exist for your prospects.
Some ways of promoting yourself out there:
- Direct mail and outreach
- Cold calls
- Advertising
- Newsletters
- Referrals
