Running Your Own Database Consulting Business

Business Overview:

If you’re tech-savvy, well organized and looking for a solid enterprise, consider running your own database consulting business. Small and large businesses amass huge amounts of information as part of their day-to-day operations. This information includes employee data, client data, financial information, projections, and so on. As a result of having so much information coming into their businesses many companies can become overwhelmed, disorganized, and lose control over much of their information assets. With a database consultant business, you provide a solution to this problem by helping businesses find ways to organize their information databases for easy access for those who need it. In doing this, you assess your clients’ databases and consult with them to understand their specific problems and needs. Part of your service may also include creating new database systems or modifying existing systems to allow your clients to access important information easily and more efficiently. For example, a client may contact you to help them clean up their database and remove outdated or inaccurate information. As another example, a client might want to access information on women in their database who are aged 25 to 30, so as to create a marketing campaign for products targeted to this specific demographic, but lack the ability to do so on their current system. In this case you might create a new database system for your client, or modify their existing system, so as to allow them to bring up information on their clients based on specific criteria. As you would expect, in order to start this business you will need to be well organized and possess strong programming skills in order to analyze and create or modify information database systems. Alternatively, you could hire someone to do the database consulting, analyzing and programming for you. Many companies use specific programs (such as SQL) to manage information in their databases, so you will also need to invest in the relevant software systems to provide your services. This may set you back between $5,000-$10,000 USD, but you can expect to recoup your investment quickly and start making great profits relatively quickly. Database consultants typically charge between $52 to $88 USD or more per hour, so this business idea presents a very lucrative opportunity—especially if you hire other consultants to work with you to grow your business. Virtually every business faces challenges managing various forms of information, so you’ll have a wide range of opportunities for attracting clients. For example, you could potentially attract and provide solutions for companies spanning numerous industries, including financial services, scientific, medical, engineering, manufacturing, and many others. Added to the profit making potential behind this business idea, another attractive advantage is that you can easily start and run this business from your own home and scale up as your business grows. Therefore, if you’re committed and willing to work hard, starting a database consulting business can lead you to a more enjoyable lifestyle and fantastic profits.

A Day in the Life of a Database Consulting Business Owner:

Your day will begin by reviewing your calendar to check the appointments you have booked for the day. You will then meet your clients (over the internet if you’ve chosen to run this as an online business idea and consult with them to assess the problems and challenges that they are facing with their existing databases. As part of your assessment, you will likely use software to analyze your client’s databases and identify problems. You will then advise your client on the best solutions to help solve their specific issues. Your service may end here, or you may continue your service by implementing solutions for your clients personally. This will likely include either programming a new system for your client to manage the information on their database, or modifying a preexisting system to solve your client’s problems and allow them to operate more efficiently. If you decide to hire database consultants to do your consulting and programming for you, then a typical day would be different. In this case you will primarily focus on marketing your business to attract more clients and increase your profits.

About Your Customers:

Your customers will be business owners experiencing problems organizing and managing various types of information related to their business.

What You Need to Start:

• Knowledge of how to use database management system software such as SQL, Oracle, Server and MySql (or you also hire a staff to consult and program for you)
• A business license
• A business plan
• Business insurance
• Marketing
• Financial tracking software

The Good:

• It can be highly lucrative—database consultants typically charge between $52 to $88 USD or more per hour.
• Virtually every business faces challenges managing various forms of information—so you’ll have a huge range of potential clients.
• You can start and run this business from your own home.
• It’s a truly “evergreen” business—companies will always face challenges managing and organizing information on their databases.

The Bad:

• If you’re not currently an expert on using and programming popular database systems such as SQL, Oracle, MySql etc. it will take some time and training to gain the required skills (although you can hire experts to do the consulting and programming for you).
• Purchasing the software required to start this business can be fairly costly, although if you run this as an online business you will likely be doing all your work using your client’s software.

Resources:

• Professional and Technical Consultants Association
• Independent Computer Consultant Association
• Bureau of Labor Statistics Article on Database Administrators
• Wikipedia on Databases

About The Author

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