Who better to learn from than someone who has been successful at what you're trying to do? That's the case with Alexis Grant, a former writer and editor at US News and World Report who has just launched a thriving social media consultancy. Alexis has written a book, How to Build a Part-Time Social Media Business, and was kind enough to share some of its highlights with us:

1. Recognize the opportunity. Yes, most people make money through a full-time job. But if you can’t find one, or you want to make some money on the side, putting your social media skills to use can be a great way to do that. The challenge: finding someone who will pay for those skills.

The good news is, there are lots of individuals, organizations and companies that will pay to tap into your knowledge and ease using social media. While it’s second nature for you to use Facebook and YouTube, business people often don’t have the time or desire to learn how to use those networks strategically. That’s where you come in!

2. Think about what services you want to provide. Do you want to coach individuals one-on-one to use social media? Or draw up strategies for companies that want to create communities online? Or maybe you want to run social-media campaigns for organizations – an approach I recommend in my e-guide, partly because clients often pay for those services on a monthly retainer rather than with a one-time check.

3. Beef up your experience. If you took advantage of summer internships during college, you might have enough experience – both to know what you’re doing and to convince clients that you know what you’re doing – to jump right in.

If you don’t, look for ways to practice these skills. Can you create a social media strategy for a parents’ friend’s business? Sit down with a neighbor for a social-media coaching session? Volunteer to spread the word online about a campaign or cause? Don’t fall into the trap of thinking you need a full-time job to gain this experience. Look outside the box for other opportunities.

4. Use your network to land clients. You’ve built up awesome followings on Facebook and hopefully Twitter and LinkedIn – now use them.

Tell your network about the services you’ve decided to offer, so they’ll think of you when an opportunity arises. Don’t be shy about asking your friends (nicely) to spread the word; if they like and trust you, they’ll want to help you succeed. And make sure to take advantage of an often-overlooked networking gem: your parents, and even your friends’ parents. Let them know about your new consulting biz, so they can refer you to their friends when the timing’s right.

5. Figure out how – and how much – to charge. It sounds like it should be simple, but charging for consulting can be daunting, especially at the beginning. In most cases, you’ll want to charge an hourly rate or a project rate (which is loosely based on the hourly rate), so think ahead of time about which fee structure works best for any given client.

If you want to get a sense of what other consultants charge, ask that question in LinkedIn Answers or look for other inquiries that revolve around the same issue. Beware though, that prices for social-media consulting run the gamut. Base your rates on what you think each individual client will pay and how much you want to make off the work rather than what other people are charging.