What are your strengths? What do you love?
We are in our 3rd yr of completely living off our company we run from home, however, we established it in 2005 as a back up plan and it ended up being a $3 Million dollar company last year with sales up 17% over 2010. 2012 is looking fantastic right now... we are sold out for January and purchasing materials for February and March. Who would have thought!
We are in a niche market with raw materials (plastic) and we broker/consult with manufacturers. My husband has been in the industry 20+ yrs and in 2005 when he left a sales job to go to another sales job, the products were limited in the new job, BUT his customers kept calling him for references of where to purchase products, consulting regarding temps to run their machines and how much additives were needed, etc.. He was giving them info because they were good people and had been good customers. Then, we had to establish our company because they started sending him commissions, etc for his work. Fast forward until 2008, we had the opportunity to start full time on our own. Hubb knows this business inside and out, we are both numbers people, very detailed and it works for us.
We drew up a formal plan, consulted the tax and legal counsel on our team. We proceeded to fund thie company 100% with our money and opted not to go through banks, etc. WE wanted to run the company, not have the bank tell us what to do.
Hubby does all the selling/brokering/consulting and I manage all the financials, Quickbooks, travel, etc.
This sort of fell into our lap but we are glad we moved on it when we did and have now established great working relationships with manufacturing companies all over the US.
Remember to start slowly and let it grow. As CAWriterMom said.... the money does not come in the beginning, it follows if you are a success at what you are doing. You sound like you'd be a great business owner.
SO... bottom line would be what would you be consulting about? What is the industry, who would be your market?
Good luck!!