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Project Management Business - Good Idea?

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krisvenis

posts: 1

Mar 10, 2008 2:06 PM ET Quote Report Abuse

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Hi All,

I would like to leverage my background and talents into a startup business and am looking for feedback on whether the idea would work. My educational background consists of an MBA and a certificate in project management while my professional background consists of both project and resource management. I get excited and motivated by coming up with and implementing ideas that make life easier/more efficient.

My business idea is to consult and implement projects for small to medium size businesses. Not payroll, accounting and administrative work which I believe are already covered by businesses out there. Rather, I am interested in starting a business managing projects that take the business owner away from their core business. Examples would include: determining which payroll company to hire for the small business and follow through until the payroll is outsourced, analyzing the right office location for a business and managing the project until they are moved in, determining the right type of website for a business and manage the project with the developer (including choosing the developer) until the site is up and running.

Does this business idea resonate with any of you small business owners? Can you think of a time when you would hire someone to do this?

Thanks for any and all advice!

winston2

posts: 122

Mar 10, 2008 2:48 PM ET Quote Report Abuse

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I think you may be on to something. But the three sample projects you mentioned can be handled by the small business owner or their office manager. But I just spent some time with a small relationship coaching business and they want to move a whole different direction. The owner does not have the time to devote to this project, he needs to keep the money coming in while some one else works on the new direction. He has no one to do this. He would be willing to pay a qualified person to research the best way to approach the new project and over see it until it is implemented. I think larger projects like this is where you could shine.

Winston

CraigL

posts: 9051

Mar 10, 2008 8:28 PM ET Quote Report Abuse

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Last I heard, a small business, according to someone`s definition in the government, was any business with under 50 employees. From a different perspective, say an international accounting firm, a small business is anything that earns less than $100-million in gross revenues per year.

Here on SuN, I tend to suspect that a small business is 1 person. If they`re earning anything over $1,000 a year, they`re getting started. That`s NOT to say there aren`t some entrepreneurs here in the community who aren`t making a whole lot more than that....but in general, it`s micro-business owners.

So: when you say "small business" what do you mean? I`m thinking your idea would make a lot of sense to mid-size brick-and-mortar business, such as manufacturing, retail, wholesale, transportation, logistics, and so forth.

In that case, you`d be a consultant of some sort. I`m wondering if advertising as a "project management consultant" wouldn`t be a bit confusing. Dunno, have to think about that. On the other hand, "business management consultant" might be easier, if you`re explicit that you`re focusing on planning and implementation of these types of projects, and give your above examples in your sales pitch.

That`s my off-the-top opinon, though. I think it`s a great idea...just thinking of your targe market and how to clearly define it. :-)

SecurityProfessional

posts: 56

Mar 11, 2008 12:10 AM ET Quote Report Abuse

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In my career, I have worked with a number of independent project managers who are doing exactly what you are considering. Most that I have worked with provided services related to the design and construction of new facilities. These managers serve as the owner`s representative and work with the architect and other members of the design team during the planning of the facility. When construction begins, they continue to work with the design team and contractor to see that the facility gets built properly. They then handle the planning and logistics of moving into the new facility and getting everyone settled in.

The owner hires the project manager because he or she does not have the time or inclination to handle the tens of thousands of little details that a major construction project and relocation requires. Often, the project manager already has completed numerous projects for other companies and brings a level of experience that is invaluable to the owner..

I also know of another project manager who does something similar but specializes exclusively in technology projects; e.g. wireless networks, boardroom audio/visual systems, telephone systems upgrades, etc. He doesn`t sell or install the equipment, but helps design the systems, selects a vendor, and oversees the installation and training.

In most cases, the project manager charges an hourly or monthly fee for services for the duration of the project. I think that to some degree, you need to specialize in the types of projects that you will manage because no one can be good at everything.

There is a definite need for this type of service - I would strongly encourage you to go for it once you figure out the specific niche in which you could provide the most value.

-------------------------

Michael A. Silva
Silva Consultants

www.silvaconsultants.com

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Project Management Business - Good Idea?

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