We all have different aims in life, and we all operate in our own way. This is especially true when it comes to business, as one person could work happily in an organisation that another person would hate. This is why the question, “is it worthwhile becoming a freelance business consultant?” is tricky to answer, as everyone has their own circumstances to deal with.
However, if you are asking this question as you want to consider it for your future career, it might be helpful for you to learn about some of the opportunities and hurdles that you may face. Here is a brief rundown of these points to get your journey on the road:
The first thing to think about is whether your current or future career would be more secure. If the place you are currently working is experiencing trouble, it may be the case that you are looking to change job anyway. Redundancies are sometimes unavoidable, so if you think you might be next in line, it does seem sensible to have a backup plan.
Yet starting up a business on your own may present its own set of security problems too, and this really all depends with the industry in which you work, as well as how much of a success you want to make it. Some people can handle the long hours and initial low income; are you one of them?
There are risks in any job, but if you are responsible for your own company, you might face them on a more regular basis. There can be problems getting invoices paid by clients, which could leave you out of pocket, or they could even try and claim against you if they believe you have given them a poor consultation. You might want to visit hensure.com for more information on PI insurance which can be helpful when it comes to claims against you as a professional.
If you are moving from full time employment in a company to working for yourself, you cannot guarantee your income which could make paying for your mortgage and bills more stressful. You will have to put in a lot of effort when it comes to new business, which means plenty of networking events and hours spent on services such as LinkedIn. Your company website should be professional and up-to-date, explaining what you do in simple language, and making it easy for people to get into contact with you.
It is important to remember that you must pay tax for your business when you set it up, so you will need to be very good at keeping your accounts organised. If you work from home you may be able to claim some services back such as the energy that you have used for the business percentage of your day, so have a look online for more information that might apply to you in the future.