What are the best strategies for identifying new consulting opportunities in a changing market?

The market is constantly evolving, and so are the needs and expectations of your clients. As a consultant, you need to be proactive and creative in finding new opportunities to deliver value and solve problems. But how do you identify and pursue potential consulting projects in a changing market? Here are some strategies to help you.

1 Know your niche

The first step is to define your niche, or the specific area of expertise and value proposition that you offer to your clients. Your niche should be based on your skills, experience, and passion, as well as the market demand and trends. By knowing your niche, you can focus on the most relevant and profitable opportunities, and differentiate yourself from the competition.

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Kojo Ahiakpa, MPhil., mMBA., MBA

Agribusiness Advisor I AfCFTA/Intra-African Trade Advisor I Agribusiness Value Chain Development Specialist I Data Analyst and Visualisation Specialist I Founder I Research and Programme Manager
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In a changing market, identifying new consulting opportunities requires a proactive and strategic approach. Here are some strategies to consider: 1. Stay Informed: Keep a pulse on market trends, industry developments, and emerging challenges through industry publications, news sources, conferences, and networking events. 2. Build a Strong Network: Cultivate a diverse professional network that includes industry experts, potential clients, and colleagues. Engage in industry associations, attend relevant events, and leverage social media platforms like LinkedIn to connect with key decision-makers. 3. Specialise and Differentiate: Identify areas of expertise and develop a strong value proposition.

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2 Research your target market

The next step is to research your target market, or the group of clients that you want to serve and that can benefit from your niche. You need to understand their needs, challenges, goals, and preferences, as well as their current and future scenarios. You can use various sources of information, such as industry reports, online forums, social media, surveys, interviews, and referrals, to gather insights and identify gaps and opportunities.

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Kojo Ahiakpa, MPhil., mMBA., MBA

Agribusiness Advisor I AfCFTA/Intra-African Trade Advisor I Agribusiness Value Chain Development Specialist I Data Analyst and Visualisation Specialist I Founder I Research and Programme Manager
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4. Leverage Existing Relationships: Reach out to past clients, colleagues, and professional contacts to explore potential consulting engagements. Existing relationships can be a valuable source of repeat business or referrals to new clients. 5. Offer Innovative Solutions: Be proactive in identifying emerging problems and developing innovative solutions. Stay ahead of the curve by continuously investing in professional development, research, and staying informed about industry best practices. 6. Explore collaboration opportunities with other consulting firms or professionals who complement your expertise. Collaborative projects and partnerships can expand your service offerings, broaden your reach to tap into new markets or industries.

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3 Build your network

The third step is to build your network, or the relationships and connections that you have with potential and existing clients, as well as other consultants, partners, and influencers. Your network is a valuable source of referrals, recommendations, feedback, and collaboration. You can build your network by attending events, joining groups, sharing content, offering value, and following up.

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Kojo Ahiakpa, MPhil., mMBA., MBA

Agribusiness Advisor I AfCFTA/Intra-African Trade Advisor I Agribusiness Value Chain Development Specialist I Data Analyst and Visualisation Specialist I Founder I Research and Programme Manager
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7. Monitor Competitive Landscape: Keep an eye on your competitors and their offerings. Understand their strengths, weaknesses, and market positioning. By analysing your competitors, you can identify gaps in the market or areas where you can differentiate your services. 8. Adapt and Evolve: Be flexible and adaptable to changes in the market. Continuously assess and refine your service offerings based on evolving client needs and industry trends. Embrace new technologies, methodologies, and approaches that can enhance your consulting capabilities and keep you relevant in a changing market. By employing these strategies, you can position yourself to identify and harness new consulting opportunities in a dynamic and evolving market.

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4 Create your portfolio

The fourth step is to create your portfolio, or the showcase of your previous and current consulting projects, as well as your testimonials and credentials. Your portfolio is a powerful tool to demonstrate your expertise, credibility, and results. You can create your portfolio by documenting your process, outcomes, and impact, and presenting them in a clear and compelling way.

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5 Pitch your services

The fifth step is to pitch your services, or the proposal that you make to your prospective clients to convince them to hire you for a consulting project. Your pitch should be tailored to their specific needs, goals, and situation, and highlight your value proposition, approach, deliverables, timeline, and budget. You can pitch your services by contacting your leads, preparing your proposal, and following up.

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6 Adapt and improve

The final step is to adapt and improve, or the process of learning from your feedback, results, and experiences, and making changes to your strategies, methods, and offerings. By adapting and improving, you can stay relevant, competitive, and innovative in a changing market. You can adapt and improve by evaluating your performance, soliciting feedback, identifying areas of improvement, and implementing actions.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Dr. George Wainaina

Linking WASH professionals to resources and knowledge daily| Knowledge Broker | Eawag-Sandec | Consultant
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What happened to the good old idea of identifying a problem and solving it? Shouldn't this be the whole idea for the need of a consultant? Spot a challenge in the changing market, solve it!

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What are the best strategies for identifying new consulting opportunities in a changing market?

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2

3

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1 Know your niche

2 Research your target market

3 Build your network

4 Create your portfolio

5 Pitch your services

6 Adapt and improve

7 Here’s what else to consider

Consulting

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What are the best strategies for identifying new consulting opportunities in a changing market?

1

2

3

4

5

6

7

1 Know your niche

2 Research your target market

3 Build your network

4 Create your portfolio

5 Pitch your services

6 Adapt and improve

7 Here’s what else to consider

Consulting

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