Written by Katie McNamee: Co-Founder of LEAP and Founder of Elevate Online
The world is rapidly changing. With all this uncertainty, you might be looking ahead at your career with the desire to go out on your own and wonder: Is now the time to start a consulting or freelancing business? How can I test it out to see if it’s right for me?
If you’re wondering what our thoughts are on the impact of COVID-19 on consulting, click here to read our blog: Consulting & COVID-19: What Now?
If you’re interested in learning more about consulting and freelancing and you want to learn five practical ways you can start to explore consulting as a career right now, in any economic climate, keep reading!
What is an independent consultant?
A term we use quite often here at LEAP is ‘independent consultant’. Our definition of an independent consultant is someone with extensive or specific professional expertise who provides professional services to a variety of clients by setting up their own small, entrepreneurial business.
These are people who have decided to forgo their typical corporate careers and make something of their own. They’re excited about creating their own business with a brand and company identity.
As a consultant, you can do a variety of types of work. It can be more ‘typical’ consulting – coming in to research a problem, collaborating to find a solution, and then maybe implementing that solution. You could also do project work, writing, speaking, or a mix of all these! What you decide to do as a consultant is up to your skills, your strengths, your passions, and the market’s needs.
Where does freelancing fit?
When professionals “go out on their own,” several descriptors are used. One descriptor is a “gig” worker, someone that moves from one assignment to another.
Another descriptor is a “freelancer” or someone that has a specific skill that they contract out. In general, a freelancer will provide a narrower and more defined skill set. They may code, translate, write, or do graphic design.
Others describe themselves as consultants, typically offering a broader range of professional services and often dealing with more complex projects.
For example, a marketing consultant might help you develop a marketing strategy. Then, that consultant might engage graphic artists to freelance some of the work. An IT consultant might assess the vulnerability of your IT platforms and then hire either freelancers or sub-contractors to implement the recommendations.
5 Ways to Test if Consulting is Right for You
Right now, your daily life and maybe your thoughts about your future have been shaken by the COVID-19 pandemic. If you’ve decided you’re interested in learning more about starting your own consulting or freelancing business at this reflection point, Kris and I have five ways to test and explore this career option.
- Explore LEAP’s Resources
- Connect with Current Consultants & Grow Your Network
- Do Pro Bono Work
- Find Subcontracting Gigs
- Build Your Business in Your Free Time
1. Explore LEAP’s Resources
I’m starting with our resources simply because it’s a great entry point to learn more about consulting. The other options down the page will be useful for you if you are educated about consulting and are ready to try it out. We also have a robust Consulting Blog on many topics that can help you start your consulting business.
If you’d like to spend time exploring consulting as a career, I’d also recommend you get Kris’s book, Owning It: Take Control of Your Life, Work & Career. In Owning It, Kris shares candid insights on how she leveraged her professional expertise into a consulting business that has provided her with a six-figure income for over 15 years.
2. Connect with Current Consultants & Grow Your Network
Your network as a freelancer or consultant will be one of your most important assets. It’s why one of our Launch Series lessons is on how to grow your network strategically.
When you’re just getting started, one great way to explore consulting and expand your network is by connecting with current consultants. You might try to find consultants in your field and industry or an adjacent field/industry. Start by politely reaching out to them and asking for some of their time, letting them know where you are currently and what you’re thinking about doing.
Here are some of the best questions you can ask during the meeting:
- Tell me about how you got started and the steps you took.
- What do you wish you knew before you launched?
- What are the benefits of creating your consulting business? The challenges?
- What advice would you give to someone considering getting started?
These questions should help you better understand what it will take to start your business. As a benefit, the consultants you connect with could become potential collaborators when you start your business, or they might have subcontracting opportunities for you.
One last note on networking that we can’t stress enough – don’t forget to ask what you can do for them!
3. Do Pro Bono Work
Are you considering consulting, but you don’t know if you have a good enough network or portfolio to launch your business? Or maybe, you don’t know if you’ll enjoy doing the work without the support of a larger organization? Finding pro bono work is one way to tackle these issues.
There are a few main things to think about when considering what pro bono work you should do. First, ask yourself what causes do you support, and what are you passionate about? Then, consider what type of work you want to be paid to do when you launch your business. Find an organization where you can do that type of work so that you can build your portfolio in that area.
Lastly, as a bonus, consider the people that are in the organization you want to work with. Ask yourself, are these people potential paying clients? Or, are these people connected to potential paying clients? If either answer is yes, then it could be a great opportunity for you as you start your business.
4. Find Subcontracting Gigs
Subcontracting can be a great way to get into consulting. Both Kris and I first took subcontracting gigs when we started; now, I still partake in a subcontracting gig if it allows me to work with my ideal clients.
Subcontracting is where another firm finds and secures the work for you, and then you come into the project in a defined role. Usually, these projects have a fixed duration, and there won’t be much wiggle room on your rate.
These types of gigs can allow you to experience what it feels like to come into a project as a consultant. They can help build your portfolio, although you’ll need to confirm with the firm that secures the work that you can talk about the projects. They can also be a way to make money while you work on finding and securing clients through your business.
Some places where you can find subcontracting gigs include:
- Websites like the PWC Exchange, Expert Connect, and more
- Local small to mid-sized consulting firms in your area
- Other independent consultants
5. Build Your Business in Your Free Time
Whether you’re between jobs, facing furlough, or have a full-time position, one way to explore consulting is to begin building your business in your free time.
For some people, this might look like creating a “side hustle,” where you’re actively employed, but you’re also building your business and doing projects in your free time. For others, you might focus on building your business foundation by going through a program like the Launch Series and then beginning to take on clients.
To build your business in your free time, you might make use of a number of the ways we talked about above to test consulting. You might start by exploring our resources, do a pro bono project, and then decide you’re ready to commit to building your business in your free time.
If you’re someone who has been laid off or furloughed due to the state of the economy, this might be the perfect time to test if consulting is right. You can build out your business plan and then fully committing to trying consulting as a long-term career option.
We believe that many of the reasons people choose to hire consultants in ‘normal’ times are the same reasons they’ll hire a consultant now.
- The company can bring an expert onto their team for a fixed duration of time.
- The company can access talent without the time and expenses of a hire.
- The world is rapidly changing (whether you’re in marketing, HR, finance, manufacturing…you name it), and businesses need experts in their fields that can guide them and help them excel through change.
Wishing you luck on your freelancing or consulting career journey!
Kris and I have both found consulting to be the best choice we could have made for our careers. There are many reasons we would encourage others to consider consulting as a career option – the flexibility, the freedom, the control over the work you do, the income, and more.
If you feel that now is the right time to test the consulting waters, we hope to support you on this path. Whether it’s through our free resources, Owning It, or by getting you started swiftly, smartly, and with support with the Launch Series, we want to help you create a consulting business that serves you well.
Until next time,
Katie McNamee
Co-Founder of LEAP
