BROADCASTS.com

Published: Nov. 10, 2020, 6 p.m.

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We have a letter!!! Our writer (Ready to Be Independent) asks about being a consultant: what does it take, what do they need to do, and what is the pros and cons list? We break it down.

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Some of the things to consider as you're looking at making a leap like this: to consider are: inconsistent revenue as a consultant vs a regular paycheck and salary. What\\u2019s your brand and what do you uniquely offer? Are you ok with instability? If you\\u2019re a consultant, you\\u2019re a small business person and you have to assess your risk tolerance.

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Are you ready to take on the expenses of running your business? We talk about doing soul searching around risk tolerance and not knowing where the money is coming from. You have to believe in yourself.

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It\\u2019s time for your Board of Advisors to fish around to see what they would hire you for. What\\u2019s your pitch?

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Put together a business plan: sometimes people do side gigs to build cash and a customer base.

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The costs are there, and you want to be in a place of financial stability so that it\\u2019s not financially uncomfortable.

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Be clear on your mission, vision and values to make sure you can decide who you are so that can communicate that to your customers. Think about marketing and if you\\u2019re going to be comfortable with your marketing plan. Are you ready to go into a pitch meeting? If you can\\u2019t sell yourself, don\\u2019t go into consulting.

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Rely on your experts. Know what you\\u2019re good at and who you will need to hire (attorney, accountant, etc.).

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Are you organized, consistent and reliable? If it\\u2019s not you, you need to have others do it for you, Figure out how to make it work or decide if being independent isn\\u2019t for you.

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Something to think about: as a consultant, you\\u2019re an outsider and not actually on the team. Sometimes you\\u2019re left out of conversations.

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Consulting gets lonely. Not everyone\\u2019s made for that and it can be stressful. Also, vacations as a consultant usually mean a dip in revenue, and client work still needs to get done. So as a consultant, you don\\u2019t have a boss, but you also don\\u2019t have co-workers to cover for you, or even to have coffee with and talk about what you're working on.

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Career growth is possible as a consultant. It\\u2019s about relationships you make and the value you deliver. How strategic are you and what value do you bring? You can grow in many areas based off your core competencies. If you\\u2019re not want to be where you want to be professionally, it may not work.

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Kat\\u2019s favorite part of being a consultant is working from everywhere, and being able to see if a role will be a right fit for her and her client. Liz likes that she\\u2019s had an impact on a number of companies according to her values.

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Thanks for the question, Ready to be Independent.

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So listeners, are you ready to make the leap and be a consultant? As always, feel free to reach out to ask your questions or talk through your current situation.

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