A Guidebook on Starting a Statistical Consulting Business
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Considerations for Running an Independent/Small Statistical Consulting Business
INTRODUCTION
This guidebook is an initiative of the ASA Section on Statistical Consulting. Current version 1.0 is first published on 7/19/2021.
For Whom:
- All statisticians/data scientists interested in the business aspects of running a statistical consulting business, from those who are thinking about starting their own consulting business to seasoned consultants who have run their businesses for a while and are looking for a sanity check or guideline to keep up with the changing times.
What it is:
- A list of topics to consider for running an independent or small consulting business.
What it is NOT:
- NOT legal, contractual, accounting, or tax advice.
- NOT guidance on general professional/consulting skills (hard skills or soft skills).
By Whom: Volunteers from the Statistical Consulting Section. Contributors (alpha order):
Table of Contents
- THE FUNDAMENTALS
- Reason for Being: The Why
- Business Model: The What
- Risk Management
- Workload
- GETTING REVENUE
- Finding Clients
- Sources (where you find clients)
- Business Development
- Marketing
- Branding and Collaterals
- Developing Awareness
- Pricing and Billing
- Setting Rates
- Invoicing and Payment
- Contract and Other Legal
- Collaborative Delivery
- OPERATIONS: ADMINISTRATIVE & LEGAL
- Business Structure (USA)
- Taxes (USA) & Accounting
- General Considerations
- Types of Taxes
- Other Tax Considerations
- Administrative/Operational Considerations
- Business Insurance
- Computing & Programming
- Computing infrastructure
- IT Support
- Other Considerations
- Office Equipment and Services
- Human Resources
- International Business
- Small Business Resources
- CHALLENGES OF AN INDEPENDENT/SMALL CONSULTING BUSINESS
- Client Management
- Ethics
- Data Security & Privacy
- Productivity
- Professional Development