When contemplating starting a consulting business, the first step is to develop a business plan. The plan should include provisions relating to the mission statement, the description of the consulting business, marketing efforts, market research analysis, financial summary, the challenges of the business and how these challenges will be met. In addition, when starting a consulting business, it is necessary to determine the business form. The business could be a sole proprietorship, partnership or corporation, depending upon the circumstances of the proposed business. Once the form is selected, the procedural steps must be taken in order to establish the business form. Moreover, insurance should be reviewed in order to make sure that the business has the proper level of insurance coverage. In addition, it is necessary to review whether licenses are required for the consulting business and if so, licenses must be procured.