3 min read · Written by Grant Rayner on 03 May 2023
Share by emailWhen first starting your business as an independent security professional, it’s easy to slip into a default mode of working with clients you already have a relationship with, and to continue doing what you know best.
While that approach may work initially, it can be suboptimal and prevent you from reaching your full potential. Over time, it may even become dull and frustrating. A more effective strategy is to consciously and deliberately design your business.
From the perspective of an independent security professional, business design refers to the strategic planning and structuring of your business to achieve its objectives, maximise value for your clients, and ensure long-term success. This process requires a deep understanding of the market you plan to serve, your clients’ needs, and defining your unique value proposition. It’s simple to explain but challenging to execute.
In this article, I’ll share several factors to consider when designing your business as an independent security professional.
One of the first steps is to identify a specific area of expertise or industry where you can excel and stand out from your competitors. Defining your niche helps you focus on a particular target audience and tailor your products and services to meet the needs of that audience.
Once you’ve defined your niche, you’ll need to craft your value proposition. Your value proposition is a clear, concise statement that communicates the unique benefits and solutions you can offer to your target customers, highlighting the reasons why what you can do is superior to your competitors. A crucial part of this process involves determining how your specific skills, knowledge, or experiences can address your clients’ needs.
With your niche defined, the next step in the process is to develop products and services. These products and services should align with your niche and value proposition, and must address the needs of your clients. As a simple example, you might incorporate consulting, training, or other services into your offering. You might also decide to develop products or even productise some of your services.
Establish a pricing model that reflects the value provided by your services, while remaining competitive in the market. Consider various pricing structures, such as hourly rates, fixed fees, or retainer agreements.
I’m sure pricing strategies will be of interest to many of you, so I’ll be covering different approaches to pricing in depth in future articles.
Over time, create a strong brand identity and marketing strategy that effectively communicates your value proposition, expertise, and credibility. Leverage digital channels, such as LinkedIn, networking, content marketing, and other tactics to reach potential clients.
Focus on developing strong, long-term relationships with potential clients and collaborators. Relationship building requires ongoing investment in your time and attention. Without strong relationships, winning work becomes challenging.
As you design your business, streamline your operations by establishing efficient workflows, tools, and procedures that support your work and enable effective time management. Build and refine these systems as you go to avoid wasting time, particularly in the beginning. As your business grows, your systems and processes will help you maximise your time and maintain high levels of profitability.
Continually apply lessons learned from projects to evolve and improve your business. As an independent security professional, your ability to innovate and stay ahead of the curve is crucial. By integrating lessons learned, you’ll incrementally improve and remain relevant and competitive. Always be prepared to adapt to emerging opportunities. The ability to rapidly adapt and take advantage of emerging opportunities will be what sets you apart from your larger and less agile competitors.
Here are a few additional thoughts based on my own experiences designing a business.
First, begin the business design process the moment you decide to establish your own company. The earlier you start thinking about key aspects like your niche and value proposition, the better. Write down your thoughts and build on them over time.
Second, while early planning is essential, avoid overthinking things initially. Don’t prematurely optimise by building things before you need them. It’s easy to focus inwards on your business, particularly on building products and services, and implementing systems and processes. Resist that urge. Instead, concentrate on establishing your niche and generating revenue through delivering high-quality work. This foundation will support your business growth, allowing you to build and refine from there.
Lastly, don’t neglect your own personal growth and development. Failing to invest in continuous learning and skill development will hinder your ability to stay current and provide value to your clients. You’ll need to keep up-to-date with what’s happening in your region, industry trends, and technologies. You’ll also need to prioritise professional development.
To wrap up, don’t overlook the importance of business design when setting up your own company as an independent security professional. By carefully considering the factors above, you’ll be able to create a sustainable, client-focused business that consistently delivers value and drives growth.