Let's stay in touch!

Close Search

Compliance Consultant Business Idea

Becoming a compliance consultant is in high demand – especially when new laws are being introduced or when a company is looking to expand into new products and services.

All businesses are regulated by various laws which ensure that their workers are safe and their products will not harm their customers.

However, these laws are long and complicated and vary from state to state and sometimes even from city to city.

As such, many companies choose to hire a consultant to ensure that they meet all necessary legal requirements for their industry.

Getting Started

It’s not necessary to have a college degree if operating within the US, but training and certification is required in many states. Even if such certification is not necessary, it is important to familiarize yourself with any and all rules and regulations concerning OSHA, HIPAA, and Sarbanes Oxley compliance.

Remember that you may be asked to not only ensure that a corporation is in compliance with safety rules, but also to check legal standards concerning accounting records, public disclosure, and other laws. The more laws and rules you are familiar with, the more businesses you will be able to consult.

What A Compliance Consultant Will Need

More than anything else you will need a love of detail and the ability to study and remember many rules and regulations. It is important to contact legal and business authorities in your area to ensure that you keep up to date concerning the laws governing businesses.

You must work on always learning new laws and seeking ways to improve your ability to help a company comply with the law. Remember, in the event that a company fails an audit from a federal inspector, they may advise other companies not to hire you!

Getting Business

This business is almost exclusively run through contacts and word-of-mouth recommendations. While a few well-placed ads in the phonebook or local business publications would be wise, the best way to get business is to do an excellent job and make sure that people remember how good you are at what you do.

It is wise to build up a list of contacts and see if you can get contracts to inspect specific companies or facilities on a regular basis. Also, it may be a good idea to focus on specific forms of compliance such as accounting accuracy or workplace consistency so that you can become extremely skilled in that area.

The compliance consultancy business is complex and will require a lot of training, skill and dedication. It’s key that you build up a good reputation and a good list of contacts and that you keep up to date on all relevant rules and regulations.

You must also maintain a serious, professional demeanor and make sure that your customers know you are there to help them and will make the compliance process as painless as possible. You will also find that many times during the year you will have little or no business.

A successful compliance consultant will use this down time to update their knowledge of laws and regulations and to build contacts for potential future business.

No comments yet.

Leave a Comment