As a consultant you may be approached by a new client, in a similar industry as an existing client. This can be quite exciting as you are developing an expertise in an industry, and the experience may enrich the support you offer both clients. However there may be a cross over in suppliers and customers, so when does developing expertise become a conflict of interest?
If you are concerned there is an issue, then there probably is, and you need to proactively deal with it.
- Be upfront with both clients, you are an expert in this area, and this may mean that some of your clients may actually be in competition with one another.
- Inform your clients that you are following your professional bodies’ code of conduct.
- Sign a document to ensure you will not breach confidentiality with either client.
- Note discussions in the client’s contracts.
Working in a similar area can develop your expertise, and if well managed can be a win win for both you and your clients.