Written by Lidia Vijga, Co-founder at DeckLinks
While building DeckLinks and BYVI, I naturally gravitated towards startup consulting, helping other founders refine their Go-To-Market strategies and SEO initiatives. This symbiotic relationship proved invaluable: early-stage founders gained battle-tested insights for their immediate challenges, while I discovered fresh perspectives and opportunities that enhanced my own ventures.
I believe more founders should get involved and start a startup consulting business on a side. This creates a win-win ecosystem where experienced entrepreneurs can monetize their expertise while staying engaged with new innovations, and early-stage founders gain access to practical, battle-tested advice that complements traditional accelerator programs and advisors.
In this article, I’d love to go over the pros and cons of startup consulting and share some examples from my experience to help you figure out if this is a path that you would like to pursue.
The Pros of Startup Consulting
Let’s first discuss the biggest advantages for getting into startup consulting and why so many founders are turning their entrepreneurial experience into thriving consulting practices.
1. Diverse Experience and Rapid Learning
One of the biggest advantages of startup consulting is the sheer variety of experiences you’ll gain. In my time consulting, I’ve worked with startups across different industries, from fintech to e-commerce and everything in between. Each project is like a crash course in a new business model, market, and set of challenges.
This diversity is incredibly valuable. It allows you to develop a broad understanding of different industries, identify patterns and best practices that work across sectors, and adapt quickly to new situations and problem-solve on the fly.
For example, when I was helping a fintech startup with their GTM strategy, I learned so much about financial regulations and user acquisition in a highly competitive space. Later, I was able to apply some of those insights to a completely different project in the e-commerce sector. The cross-pollination of ideas is fantastic!
2. Networking Opportunities
We all know that in the startup world, your network is your net worth. Consulting opens doors to an incredibly wide network of founders, investors, and industry experts. Every project is an opportunity to build new relationships and strengthen existing ones.
I can’t tell you how many times a casual conversation during a consulting gig has led to introductions to potential investors, partnerships for my own startups, or invitations to speak at industry events. These connections are invaluable, not just for your consulting business, but for any future ventures you might pursue. Plus, there’s something incredibly energizing about constantly meeting new, ambitious people who are passionate about their ideas.
3. Flexibility and Work-Life Balance
One of the aspects I appreciate most about consulting is the flexibility it offers. Unlike the 24/7 demands of running your own startup, consulting allows you to have more control over your schedule. You can choose which projects to take on, when to work, and often, where to work from.
This flexibility has allowed me to travel and work from different locations and pursue personal projects and hobbies. You’ll still have deadlines and responsibilities, but the ability to structure your time can lead to a better work-life balance. And let’s be honest, in the startup world, that’s pretty rare!
4. Immediate Impact and Validation
There’s something incredibly satisfying about seeing the immediate impact of your work. As a consultant, you’re often brought in to solve specific problems or achieve particular goals. This means you get to see the results of your efforts much quicker than you might in other roles.
I remember working with a B2B startup that was struggling with their online visibility and user acquisition. Within a few months of implementing a new content marketing strategy we developed together, they saw a 40% increase in website traffic and in sign-ups. That kind of quick win is not only great for the client but also incredibly validating for you as a consultant.
5. Financial Stability (Sometimes)
Okay, let’s talk money. While startup life can be financially unpredictable, consulting can offer a more stable income stream – if you play your cards right. Once you’ve established yourself and built a solid reputation, you can command higher rates and have a more predictable cash flow.
This financial stability can be super helpful, especially if you’re bootstrapping your own startup, saving up for a big investment, or looking for a way to supplement your income while working on other projects. However, I want to be clear: this stability doesn’t come overnight. It takes time to build your reputation and client base. But once you do, it can provide a nice cushion that allows you to take risks in other areas of your entrepreneurial journey.
The Cons of Startup Consulting
Alright, now that we’ve covered the sunny side, let’s talk about some of the challenges you might face as a startup consultant.
1. The Feast or Famine Cycle
One of the biggest challenges in consulting is managing the inconsistency of work. There will be times when you’re working with a higher number of clients and working around the clock. Then, suddenly, you might find yourself in a dry spell with no projects on the horizon.
This feast or famine cycle can be stressful and anxiety-inducing, challenging for financial planning, and difficult to balance with other commitments. It’s important to plan for these fluctuations and have strategies in place to smooth out your income and workload.
2. The Pressure to Constantly Deliver Results
As a consultant, you’re often brought in as the “expert” to solve problems. This comes with a lot of pressure to consistently deliver results. Unlike in a traditional job where you might have more time to learn and grow, clients expect you to hit the ground running and provide value from day one.
This pressure can lead to high stress levels, imposter syndrome (yes, even experienced consultants feel this!), and the temptation to overwork yourself. I remember one project where the client had incredibly high expectations and a very tight timeline. I found myself working late into the night, feeling the weight of their entire Go-To-Market strategy on my shoulders. It was rewarding in the end, but man, was it intense!
3. Difficulty in Scaling
Here’s something that took me a while to realize: consulting businesses are often challenging to scale. Your time is your primary asset, and there are only so many hours in a day. While you can increase your rates as you gain more experience, there’s a limit to how much you can charge before pricing yourself out of the market.
Scaling challenges include limited ability to take on more clients without sacrificing quality, difficulty in creating passive income streams, and the need to constantly be “on” and selling your services. This scalability issue is one of the reasons why I’ve maintained my consulting work as a side gig while focusing on building scalable products like DeckLinks.
4. Emotional Investment vs. Limited Control
As a consultant, you often become deeply invested in your clients’ businesses. You pour your heart and soul into developing strategies and solutions. However, at the end of the day, you don’t have control over whether or not your recommendations are implemented.
This can lead to frustration when clients don’t follow through on your advice, a sense of helplessness when you see potential issues arising, and difficulty in separating yourself emotionally from client outcomes. I’ve had situations where I’ve developed what I believed to be one of my best content strategies for a client, only to see it shelved due to internal politics or budget constraints. It’s tough not to take it personally, even though you know it’s just business.
5. Keeping Up with Rapid Changes
The startup world moves at breakneck speed. As a consultant, you need to stay ahead of the curve, constantly learning about new technologies, market trends, and best practices. This continuous learning is exciting, but it can also be exhausting.
Challenges in staying current include finding time for professional development alongside client work, the risk of your skills becoming outdated, and the need to constantly reinvent your service offerings. I remember feeling a bit overwhelmed when I first started consulting on SEO strategies. The field was evolving so rapidly that techniques that worked one quarter could be obsolete the next. It required a significant time investment to stay on top of the latest Google Search’s core updates and best practices.
Who Should Pursue Startup Consulting?
Now that we’ve laid out the pros and cons, let’s talk about who might be well-suited for a career in startup consulting. Of course, this isn’t a one-size-fits-all answer, but based on my experience, here are some characteristics that can set you up for success.
1. The Experienced Entrepreneur
If you’ve been through the startup journey yourself – whether it ended in success, failure, or somewhere in between – you have invaluable experience to offer. You know the challenges firsthand and you can provide practical, been-there-done-that advice.
You can empathize with founders’ struggles, you have real-world examples to draw from, and you understand the emotional rollercoaster of startup life. When I started consulting, I found that my experience with DeckLinks gave me instant credibility with clients. I could share stories of our successes and failures, which resonated much more than theoretical advice ever could.
2. The Lifelong Learner
Startup consulting is perfect for those who love to learn and are intellectually curious. If you get excited about diving into new industries, technologies, and business models, this could be the path for you.
Great learners in consulting show adaptability to new situations and information, enthusiasm for research and analysis, and the ability to quickly synthesize and apply new knowledge. I’ve always been a bit of a knowledge sponge, and consulting has been a fantastic outlet for this trait. Each new client is an opportunity to deep dive into a new world, which keeps the work fresh and exciting.
3. The Natural Networker
If you’re the type of person who loves meeting new people and building relationships, you’ll thrive in consulting. Those who enjoy connecting with others have a natural advantage.
Networking skills that help in consulting include the ability to build rapport quickly, comfort in attending industry events and conferences, and skill in maintaining long-term professional relationships. I’m naturally quite introverted, but I’ve learned to push myself out of my comfort zone. The relationships I’ve built through consulting have been invaluable, not just for my consulting work but for all my entrepreneurial journey overall.
4. The Strategic Thinker
Consulting often involves looking at the big picture, identifying patterns, and developing comprehensive strategies. If you excel at strategic thinking and enjoy solving complex problems, this could be an excellent fit for you.
Key strategic thinking skills include the ability to see the forest and the trees, talent for identifying core issues amidst noise, and creativity in developing innovative solutions. My background in GTM strategy has been a huge asset in consulting. Being able to look at a business holistically and develop comprehensive marketing strategies is something clients really value.
5. The Effective Communicator
In consulting, your ideas are only as good as your ability to communicate them. If you’re skilled at explaining complex concepts in simple terms and can adapt your communication style to different audiences, you’re already ahead of the game.
Communication skills that matter include clear and concise writing, persuasive presentation skills, and active listening and ability to ask insightful questions. I’ve found that my ability to break down complex SEO concepts into actionable steps has been one of my biggest selling points as a consultant. It’s not just about having the knowledge; it’s about making it accessible and actionable for your clients.
6. The Resilient Optimist
Just like any startup, consulting can be a rollercoaster, with high highs and low lows. If you’re resilient in the face of challenges and can maintain a positive outlook even when things get tough, you’ll be well prepared to handle the ups and downs of consulting life.
I’ll be honest: there have been times when I’ve questioned whether consulting was right for me. But my natural optimism and ability to see challenges as opportunities have kept me going and ultimately led to some of my biggest successes.
7. The Ethical Leader
Finally, and perhaps most importantly, successful consultants need to have a strong ethical compass. You’ll often be privy to sensitive information and be in a position to significantly impact your clients’ businesses. If you value integrity and can be trusted to always act in your clients’ best interests, you’ll go far in this field.
Ethical considerations in consulting include maintaining client confidentiality, being honest about your capabilities and limitations, and providing advice based on what’s best for the client, not what’s easiest for you. I’ve always believed that my reputation is my most valuable asset and I only work with startups that don’t directly compete with each other.
Balancing Startup Consulting with Other Ventures
As someone who runs DeckLinks and BYVI while also consulting, I can tell you it’s definitely possible. Here are some strategies I’ve found helpful.
1. Time Management is Key
Effective time management is crucial when you’re balancing multiple ventures. I use time-blocking techniques to ensure I’m dedicating focused time to each of my projects. For example, I might block out mornings for consulting work and afternoons for DeckLinks related tasks.
Don’t forget to schedule in breaks and personal time! Burnout is real, and I cannot stress enough the importance of self-care. Your calendar needs white space to breathe, just like you do.
2. Leverage Synergies
Look for ways your different ventures can complement each other. For instance, the insights I gain from consulting often inform product decisions for DeckLinks. Similarly, my experience with DeckLinks gives me practical knowledge that I can apply in my consulting work.
I’ve found numerous opportunities to create synergies between my ventures. For example, I’ve used consulting clients as beta testers for new DeckLinks features. I’ve also applied lessons learned from our product development process to help clients streamline their own operations. And of course, the network I’ve built through consulting has been invaluable for all my ventures.
3. Be Transparent with Clients and Team Members
Be upfront with your consulting clients about your other commitments, and make sure your team members in each venture understand your overall workload.
I’ve found that this transparency builds trust with both clients and team members. It helps manage expectations about your availability and can even lead to unexpected collaborations or opportunities. For instance, I once had a consulting client who ended up taking my SEO Bootcamp after learning how SEO Content writing helped DeckLinks with lead generation.
4. Know When to Say No
This is a tough one, but it’s crucial. As exciting as it is to take on new projects or clients, sometimes you need to say no to maintain your sanity and the quality of your work. It’s better to excel at a few things than to do a mediocre job at many.
I’ve learned (sometimes the hard way) to carefully consider each opportunity that comes my way. I ask myself: Does this project align with my long-term goals? Can I take it on without compromising the quality of my existing work? Am I at risk of burnout if I say yes? Learning to say no is always challenging, but it’s necessary to maintain balance and deliver your best work.
5. Continuously Reassess and Adjust
Your balance between consulting and other ventures will likely need to shift over time. Maybe your product is taking off and needs more attention, or perhaps you’ve hit a goldmine with a consulting client and they ask you to join their team as a fractional executive. Be prepared to reassess and adjust your commitments regularly.
I make it a point to regularly ask myself: Is this balance still working for me? Am I meeting my goals in each area? Do I need to shift my focus or resources? This ongoing reassessment has helped me stay agile and responsive to changes in both my consulting work and my other ventures.
Conclusion: Is Startup Consulting Right for You?
If you’re passionate about startups, enjoy variety in your work, and have valuable experience to share, consulting can be an incredibly rewarding path. It offers flexibility, diverse challenges, and the opportunity to make a real impact on multiple businesses.
However, this path presents various challenges as I already mentioned, including unpredictable workflow patterns, demanding client deadlines, and limitations on business scalability.
Success requires developing emotional resilience, maintaining a commitment to professional growth, and mastering efficient time management – particularly crucial when you are involved in multiple professional commitments or run your own startup.
My personal journey with consulting has been a rollercoaster ride, but one that I wouldn’t trade for anything. It’s allowed me to diversify my income streams, build an incredible network, and gain insights that have been invaluable for my own startups. At the same time, it’s taught me a lot about my own strengths, weaknesses, and what truly drives me as an entrepreneur.
If you’re considering diving into startup consulting, here’s my advice:
Start small. Take on a few projects on the side to get a feel for the work. This will help you understand if consulting is truly a good fit for you without committing fully.
Leverage your unique experiences. Your personal startup journey is your biggest asset. Don’t be afraid to share your stories – both successes and failures. Clients value real-world experience over theoretical knowledge.
Build your network. Attend events, engage on social media, and don’t be afraid to reach out to people.
Never stop learning. Stay on top of industry trends and continuously expand your skill set. The startup world moves fast, and you need to move with it.
So, what do you think? Are you ready to add “startup consultant” to your Linked Profile? Whatever you decide, I hope this article has given you some food for thought and some practical insights to guide your decision.
