CI&E News

Explore New Frontiers with Confidence: 6 Benefits of Working with Space Industry Consultants

Written by: Space Foundation Editorial Team

The space industry is booming and offers infinite opportunities for businesses of all sizes to make an impact in this emerging market.

However, the complex process of breaking into the space sector may be challenging for small to medium-sized businesses that lack certain resources and expertise. But the help of a knowledgeable space industry consultant makes the dream of getting into the space industry easier to achieve than ever before.

Consulting ServicesHiring a space industry consultant with unique expertise within the space sector provides you with crucial resources, networking, and support to compete in the global space economy.

Below we’ve outlined six stellar benefits of hiring a space industry consultant.

Learn more: Space Commerce Institute Consulting Services

1. Experience is Everything

There is no substitute for experience when it comes to breaking into the space industry. They have intimate knowledge of industry trends and key players, which is essential to being competitive and making informed strategic business decisions.

When it comes to hiring a specific consultant or consultants, you should look to work with someone who has expertise in the specific area in which you need more support.

For example, if you’re looking to utilize an available NASA patent, you would want to work with a space industry consultant that has experience with IP and patent law. Or, if you’re looking to score private third-party investors, you need to work with a consultant with experience securing private capital funds.

Working with the right consultant sets you up to achieve maximum success and growth in the industry.

Learn more: What is a Space Technology Transfer

2. Access to an Abundance of Resources

One of the most important reasons to hire a space industry consultant is to leverage their resources.

Space industry consultants know who and where to go for answers and support. All of Space Foundation’s consultants have a vast network of professional connections in the industry and can utilize their skills to better help you in your business endeavors.

3. Consultants Are There for You When You Need Them

One of the best parts about working with a consultant is that they work with you ad hoc, so you get exactly what you need when you need it.

Additionally, working with consultants on an as-needed basis allows you to hire multiple consultants should your needs change during the course of your business endeavors. This ensures you get the best support possible and the greatest return on your investment.

4. Strategic Insight from People Who Have Been There Before

Improved Ground Collision Avoidance SystemGetting involved in the space industry involves strategic planning. You must know the risks involved and opportunities for growth to create a roadmap for success.

An experienced space industry consultant can help create a strategy for growth by drawing from their wealth of experience in the business. They offer insight and assistance as you create timelines, organize your internal resources, source legal support, develop goals, and more.

They know the common pitfalls businesses face when they expand into this particular market and can help you avoid them, thus increasing your chances of long-term success and profitability.

5. Objective Opinions and Fresh Perspectives

Objective opinions are crucial when it comes to new business endeavors. A space industry consultant brings new ideas and a fresh perspective to your business.

Additionally, as an unbiased party, they can better identify blind spots and areas of your business that need support or improvement.

But most importantly, they can tell you if your business ideas align with current space market trends and help you pivot if necessary.

Ultimately, their objective support allows you to put your best foot forward when stepping into the space industry.

6. They Make Navigating Complex Patent Laws and Regulations Easy

The commercial space industry is highly regulated. To be truly successful, you must navigate complex regulations, international policy, and legal issues, including property rights and patents.

A space consultant with experience in this area either knows how to handle it themselves or can leverage their connections and point you toward an industry expert.

Space Commerce Institute Can Help You Expand Your Business Into the Space Sector

SCI Workshops ImageAchieve your business goals and work with Space Foundation’s Space Commerce Institute to gain connections to the dynamic space economy through information, experience, training, mentorship, and consultancy.

Space Commerce Institute’s programming includes workshops, consulting, and professional development opportunities carefully crafted to facilitate growth within the global space ecosystem.

Explore Space Commerce Institute programming here.