I’m still very excited about my business venture. I’ve begun the research – there are a lot of medical legal consultants out there, but I think my advantage is that I’m covering some of the basics at a cheaper rate, and with personal service to boot. Many of these companies are huge firms that provide “expert witnesses and forensic consultants from all disciplines”. They charge about $100 – 200 USD per hour, so I’m a bargain compared to that. And while you may need a surgeon with 30 years experience and numerous fancy titles to litigate certain law suits, you don’t need him to do a literature search, or summarize a topic for you. That’s where I come in. Also, I’m going to market myself more to the small firm or independent lawyer, like my Dad, who would normally want to avoid using costly consultant firms.
I also searched for some books I should get, and found a few “consulting for dummies” type references. It’s funny, actually – reading up on the consulting biz, one of the common themes I found was people who were thinking they could make millions doing this (you can, though it’s not the norm) or people who wanted to start this now and bring in a liveable income right away, only to be disappointed and discouraged by how long it takes to establish oneself. I have no such illusions or needs, so I am immediately at an advantage. I don’t expect this to take off for a few years, and I’m expecting that I will be lucky to get even one small job within a few months of beginning my advertising. But I know that one job may lead to another, and that over time I can build up a client base. Perhaps in the future as I get more experienced and more established, I can look at upping my fees, or going from an hourly-based fee to a “value-based” fee (a concept I learned about in my research yesterday).
For now, I’m going to get those books, and start working on my business card design, and getting the paperwork going for registering my business and becoming “official”. I’m very excited about that part!