I often get asked about the most common concerns people have when thinking about becoming an independent compensation consultant. Typically, there are four (but relax, the Compensation Sense consulting opportunity helps calm all of these fears):
Concern #1: No Business Development Experience
No experience developing a business practice before? Have no fear! Compensation Sense addresses this with business development training as part of your onboarding. As noted on The Opportunity page, there are six business development modules that are approximately 1 to 1.5 hours each, led by an established and successful sales coach. You will learn everything from understanding your value proposition, model phone sales call, model first appointment call, how to close, efficient processing, and success habits. You will also receive two hours of one-to-one coaching with a sales coach professional. This training will put you squarely on a path for success as you venture into business development as your own independent Compensation Advisor. What’s more, there are also marketing and sales tips in the Standard Operating Procedure Manual you receive as part of your onboarding.
Concern #2: Start-up Cost
Compensation Sense makes it easy and affordable, with several options to help finance your practice. These range from upfront pay-in-full options to a few payments a year to monthly payment options. In other words, you can take the full leap at one time into your practice or invest more slowly over time – perhaps starting your practice as a side gig while still working part- or full-time. There are also a multitude of grants and small business loan options available to new entrepreneurs. Concerned about cost? We can help!
Concern #3: Lead Generation
Where will you get leads? Leads can come from many sources. For example, previous employers sometimes need some extra hands to get projects completed. Local HR consulting firms often need someone to act as an interim Compensation Analyst or Manager for a company who has an opening and needs someone to fill in during the search process. Networking and using your existing roster of contacts is one of the best ways to get business. And be sure to hang out where your potential clients are – at meetings, conferences, and networking events they attend. It is also important to build partnerships with those you can refer back and forth with to help with leads. And finally, don’t forget to utilize social media platforms such as LinkedIn. These ideas and others are covered in the Standard Operating Procedure Manual you receive as part of your onboarding with Compensation Sense.
Concern #4: Resource Building and Setup Time
Finally, there is often concern over trying to find the time to build everything you will need to service clients from scratch. But guess what? This is exactly why we created Compensation Sense in the first place! We know (from when we started) how long it took to develop all of the templates, communication tools, processes, procedures, formulas, etc., and so we have done that for you. As a Compensation Consulting Advisor, you’ll have access to the full spectrum of turnkey tools and resources — from day one!
Take the Next Step:
So, while there may be a few fears about moving into independent compensation consulting, Compensation Sense has addressed them all and more! We’ve made it super-simple to start your practice as an independent Compensation Consulting Advisor. We’ve even made it easy to learn more. Simply contact us at 317.589.8529.
Cassandra Faurote, Founder and CEO
About Compensation Sense:
Compensation Sense is Your Ideal Turnkey System for Independent Compensation Consulting. If you are a Compensation Professional in Corporate, a Human Resources Professional with deep compensation experience, OR if you currently own an HR consulting business, Compensation Sense is designed to help you take control of your future as a Compensation Advisor.
[NOTE: The Compensation Sense opportunity is not currently available for consulting practices serving clients in the state of Indiana.]