Summary

Trends in the petroleum industry suggest corporate instability, mergers, acquisitions, and downsizing. The company employee may find him or herself laid-off and without work because of these trends. An alternative career is to work as a consultant. A consultant is defined as one who consults for another or one who gives professional advice or services.

Being in business for yourself has advantages of potentially making lots of money, freedom, being your own boss, and independence. The worst days of those who enjoy what they do are better than the best days of those who don't.

Starting of the consulting practice requires a clear concept of what you want to do, marketing and networking knowledge, sales training, and negotiating skills. The marketing and networking aspects are critical to insure survival. Seldom does a business fail because of too much work.

Consultants also need to have the following: intellect; leadership abilities; managerial abilities; communications skills; strong personal qualities; and interpersonal skills. Intellect is important because the consultant should enjoy tackling complex issues and be comfortable with ambiguity, uncertainty, and unstructured situations. Leadership abilities are important traits because the consultant needs to have vision, initiative, be able to inspire confidence, respect, and trust. The consultant needs to be well organized and be able to balance selling and doing. Projects must be kept under control to insure meeting deadlines. The consultant needs to be able to communicate in person and in writing and also be a good listener. Personal qualities are also important and include the following: having good health; being resilient; having unquestioned ethics; and always be willing to learn. Interpersonal skills that are important include having tact, being diplomatic, and also being sensitive to clients needs and expectations.

Consultants may wish to have a business structure such as a Limited Liability Company or Corporation to protect against liability and to create something that will outlast their personal involvement.

AAPG Search and Discovery Article #90937©1998 AAPG Annual Convention and Exhibition, Salt Lake City, Utah