- Some types of consulting require you
to have licenses to practice.
You may need to be certified by licensing boards
or associations.
Find out which licenses or certifications
you need before you start your firm.
Understand how much they cost each year.
Know what it takes to get licensed.
Are there exams?
Or do you simply have to fill out and submit a form?
What's it take to maintain your license
beyond any annual fees?
Do you have to complete any continuing education credits?
Does everyone in your organization need to be licensed?
Or is it enough for one person to hold the certificate?
Licenses and certifications can be costly.
License fees, exam and continuing education credit cost
and the cost of not serving clients
during certification time can have a big impact
on your profitability and cashflow.
In additional licenses, there are certifications
that can help you win business.
If your business is certified as small,
veteran owned, minority owned or women owned,
you may be eligible for special consideration
by your clients.
Know what these certifications are
and how to get and maintain them.
Many clients will ask you for these certifications
when you enroll as a supplier.
And then validate those certifications on a regular basis.
Usually, it's an annual process.
For some certifications and some clients,
you'll be able to self-certify.
You fill out the form and say,
yes, I'm a veteran or yes, I'm a women-owned business.
For other clients, you'll need to go through
a formal certification process
and get appropriate documentation.
Some of those processes are easy and free
while others are complex and costly.
Before you rush out and get certified,
do cost benefit analysis.
Will the certification really give you an edge
and win you extra business?
Is it worth going through the process of getting certified?
Remember, time is your most valuable resource.
Spend it wisely.
Know your required certifications and licenses
and keep them up to date.
They can help you differentiate your firm
and win incremental business.