Enthusiasm, dedication, and hard work will not guarantee success as an independent consultant. 2. Careful market research, selecting a venture that promises clients and profit, should be the basis for deciding to start a consultant business, not just enthusiasm and emotional drive. 3. Business management practices of developing a business plan, careful price setting, and managing cash flow are essential for business survival. 4. Legal considerations, including the form of the business, contracts, and essential recordkeeping, must not be overlooked.