If you’re reading this right now, the idea of going out on your own and pursuing an independent consulting or contracting career has at least somewhat seriously crossed your mind. But maybe you’re just not convinced it’s right for you yet. As you’ve probably realized by now, there are aspects to consider when going solo. That’s why we’ve put together a list of great resources to help you decide whether or not to take the next step in starting your solo career:
1. The way work gets done in today’s economy is rapidly changing, whether or not you’ve realized it yet. Find out more about the rise of the Project Economy and the growth of the number of independent workers in America.
2. If you think transitioning to the independent workforce sounds a bit complicated, you’re right, but many resources exist to help you on your journey. However, there are many technical details that you should be aware of. Need help understanding the nuances of self-employment? Review this article about tax tips for solopreneurs.
3. Another important question to ask yourself if you’re considering independent consulting is are you ready to start a business? In less than five minutes, you can discover if your characteristics, skills, and experience combined prepare you to strike out on your own. It’ll also suggest some next steps you can take, depending on your results. Check out the US Small Business Administration’s Assessment Tool for more information.
4. How would you even start to build a client list as an independent consultant? Knowing who you can sell your services to is a good place to start. Buy The Book of Lists in Your Area to figure out who the major buyers are in your market. After that, research how to market yourself online.
5. If you’re not convinced that consulting is the right move for you at this moment, you should still stay in the loop in case you change your mind somewhere down the line. Sign up for newsletters from sites that deliver good content in your industry to stay informed about news and developments. Impress potential clients with your in-depth knowledge of their market.
6. How much does it actually cost to work independently and how do you do it? Discover the true cost of being your own boss and how to run a business when you’re the only employee.
Don’t forget, you can contact MBO Partners with any of your questions or concerns while making your decision. We can handle your back office business infrastructure if you decide to take the leap and become a member of our team. From tax withholding to retirement and health benefits, your dedicated business manager will work with you so you have more time to focus on your passions, whatever they may be. Email firstname.lastname@example.org if you would like to learn more!
Learn how to calculate a cost-based bill rate with our new, easy-to-follow video tutorial.
News and notes for independent professionals and their clients. This is the October 17, 2016 edition.