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Best Tools for Indie Consultants

This blog post came from a conversation with a buddy of mine who is setting up their consulting business. This is effectively a transcript of that conversation:

As a consultant, having the right tools can make or break your business. Over the years, I've refined my "consulting stack" - a collection of software and services that keep my operations smooth and professional. In this post, I'll share the key components of my stack and why they matter. At the end I'll include a todo list for setting up your business foundation, and a todo list for setting up your consulting stack.

Consulting Stack Cheatsheet

If you just want all the links and referal link here you go:

  • Doola: A platform for hassle-free LLC setup in the US.
  • Mercury: A startup-friendly bank with responsive support for business banking needs.
  • Stripe: A payment processing platform for online transactions.
  • Dropbox Sign: A tool for sending and tracking proposals, and getting contracts signed digitally.
  • Cal.com: A scheduling tool for easily booking calls and meetings.
  • Circleback: A platform for meeting notes and follow-ups.
  • Anthropic Claude: An AI assistant for various tasks, including content creation and research.
  • Spiral Computer: A tool for generating memos and blog posts from transcripts.

Setting Up Your Business Foundation

The first steps in building your consulting practice involve some unsexy but crucial administrative tasks:

  1. Form an LLC: I recommend using Doola for hassle-free LLC setup if you're in the US.

  2. Open a business bank account: Mercury is my go-to for its startup-friendly features and responsive support. Avoid big banks if possible - I've had issues with Chase in the past.

  3. Get business credit cards: Once you hit minimum account thresholds, look into cards for software expenses, travel, etc. This lets you maximize tax benefits of incorporation.

  4. Hire an accountant and set up QuickBooks: Proper bookkeeping is essential for taking advantage of self-employment tax benefits. Don't leave money on the table. Email me if you'd like a referral to an accountant I trust.

Tax benefits of incorporation

As a consultant, tracking expenses well can lead to significant tax savings. Make sure you're logging everything from office supplies to client meals. I made the mistake of using personal cards for business expenses and it just made my bookkeeping a mess, esp when it came to expensing and paying myself back.

Essential Software Tools

With the legal and financial foundation in place, here are the key software tools I rely on:

  • Stripe for invoicing: Great for smaller clients. Larger companies often prefer ACH transfers. Note that if you don't allow ACH and you let companies pay you via card, you're goign to eat some fees, so always turn on DD and even ask them to pay by ACH instead. Mercury also allows invoice payments now.

  • Dropbox + Dropbox Sign: This tool is essential for sending and tracking proposals, as well as getting contracts signed digitally. It adds a layer of professionalism to your operations. Additionally, it allows you to monitor who is downloading and viewing your documents, which is particularly useful when sending contracts, documents, or proposals to clients.

  • Cal.com: For easily scheduling calls, especially free consultations. Whenever someone asks to hang out or jump on a call, I just send them a cow link immediately. In the future, you can also set up paid calls, which makes it very easy. It's a tool I love using, and it's basically free. That said, you can definitely go crazy with how you set up your availability schedules, and ultimately, I think the right answer is to hire an EA once you start making enough money.

  • Circleback: My go-to for meeting notes and follow-ups, But I often will actually take those transcripts myself and pass them into something like Cloud or Spiral Computer to produce memos and blog posts.

  • Anthropic Claude: An AI assistant crucial for content creation and research. I use it for generating proposals, leveraging example templates and detailed prompts. Unexpectedly, I've also found it valuable for creating mockups - I often share Claude-generated React code to visually communicate designs to clients, going beyond verbal descriptions.

  • Spiral Computer: I use this to generate memos and blog posts from transcripts. It's a general-purpose tool that I use to convert transcripts into tweets and blog posts, and convert blog posts into tweets. If you're committed to producing enough content and recognize that one of the best ways of increasing your surface area is to write more, Spiral Computer is a no-brainer tool for $200 a year. You'll definitely make it back if you can double the amount of content you produce.

The power of standardization

Having a standard engagement letter and proposal process saves time and projects professionalism. Don't reinvent the wheel for every client. Subribe to my news letter if you want to get notified when I publish more posts on how I set up my engagement letters and proposals examples

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Scaling Your Practice

As your consulting business grows, consider these additional investments:

Hire an EA

This can be a game-changer for managing your schedule and admin tasks. I don't really have much experience in hiring a team out of the Philippines, for example. I was lucky enough to go through my own network to find one.

But I would say that the moment you start consulting seriously and making maybe $10,000 a month, you owe it to yourself to let your entire network know that you're looking to hire an EA, especially someone who has existing EA experience.

I can't describe how lucky and grateful I am for my assistant Maria, who's helped me respect my own time more.

Develop a content strategy

Tools like Circleback.ai and Claude can help you create valuable content to attract clients. By taking a bunch of calls and using Circleback AI to create transcripts with tools like Clon and Spinal Computer, you can almost guarantee that there's a blog post for every call you take.

Each piece of content you produce:

  • Can generate more attention.
  • Has the potential to go viral on Hacker News.
  • Can be used as proof and evidence when demonstrating your expertise to a potential new client.

I'll dive deeper into these topics in future posts. Let me know in the comments if you'd like me to elaborate on any specific area - whether it's hiring support, crafting proposals, or optimizing your payment processes.

The Flywheel Effect

By setting up these systems early, you create a foundation for growth. Each component of your stack should work together to make your consulting practice more efficient and professional. This allows you to focus on what really matters - delivering value to your clients.

Remember, the goal isn't just to have a bunch of fancy tools. It's to create a seamless experience for both you and your clients. When done right, your consulting stack becomes a competitive advantage.

What tools are essential to your consulting practice? Have you found any game-changers I didn't mention? Share your experiences in the comments below.

Consulting Stack Setup Todo List

1. Set up business foundation

2. Implement essential software tools

3. Prepare standardized documents

  • Create a standard engagement letter template
  • Develop a proposal process and template

4. Plan for scaling the practice

  • Research hiring an EA, reach out to your personal network
  • Develop a content generation strategy from calls

5. Set up systems for ongoing growth

  • Implement a process for turning client calls into blog posts
  • Establish a routine for creating and sharing valuable content

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