| CRBJ Charter Member: |
|
|
| CRBJ Home > June 2007 | |||||
'Independent consultant' sounds great, but it's hard workBy Peter Gray
On their resumes, these entries vary from the lofty-sounding ("Fancyname Partners -- Jane Smith, Founding Principal") to the self-explanatory ("Bob Johnson Consulting") to the modest ("self-employed"). I also have some firsthand experience with this, having spent a year as "Peter H. Gray & Company." Some of us may be heeding an inner call to "be your own boss" or "join free agent nation." But if most independent consultants are like I was -- and my conversations suggest that many are -- the entrepreneurial status is transitional. Some independent consultants, like the semi-retired or those raising children, want to work, but not full time at their current stage in life. Others lost or left a full-time job, and hope to return to one when they find the right opportunity. Self-employment challenges The challenges of self-employment are many. Small things you took for granted at an office -- like access to office supplies and a copier -- require special trips and out-of-pocket spending. The isolation tests your ability to motivate yourself. The pressure to generate business can be acute. That's the most basic challenge of all: finding clients and getting income, before the loss of a steady paycheck becomes a financial problem. Most of us are good at what we do professionally, but unaccustomed to having to market ourselves. How do you sell your services? In most cases, the first independent consulting business comes from personal relationships: former colleagues, former clients and word-of-mouth referral contacts. So at a minimum, as an independent consultant you need to talk with your network of friends and contacts to build awareness of the work you're doing. How much time and effort you invest in business infrastructure and marketing materials should be consistent with how long you expect your independent consulting to last and how important it is to attract new clients. If you are doing work for a former employer on an interim basis, this investment may be zero. If you are looking to launch a growth business, it may be significant. Avoid major fixed costs A good rule of thumb is to avoid major fixed costs for tasks you can outsource on a pay-as-you-go basis. For example: • If you need occasional professional-grade color printed business documents, use the copy store rather than buying an expensive printer/copier. • Office space is a major overhead expense, so many independent consultants use a home office as long as the type of work they do allows for it. The good news is that anyone with a home computer and a high-speed Internet connection can inexpensively get a dedicated business phone line, Web site, and e-mail address to create the impression of running a larger, more established business. Independent consulting, while often unplanned, can be a necessary interim solution for someone who is looking to return to full-time employment. In fact, often a job offer eventually comes from a consulting client. In job interviews with other companies, it's important to differentiate your self-employment work from complete unemployment by speaking about, and putting on your resume, the results you've generated for your clients. A final word about independent consulting: Strive to maintain some life balance. It's not easy to be out on your own -- it can be stressful, and at times business is slow. Set aside some of the downtime to get your mind off work and take care of yourself and your family: Exercise, read, knock some items off your personal to-do list, and spend time with loved ones. Peter Gray is the head of executive recruiting at QTI Professional Staffing in Madison. peterg@qstaff.com madison.com ©2009 Capital Newspapers. All rights reserved. |
|
||||