On the minus side, there is no regular pay check, no benefits, no IT department, and no one to blame but yourself if something goes wrong.
No check goes into my bank account unless I bring in the business
Remember earlier I said that no check goes into my bank account unless I go out and win the business? That is the cold, hard truth.
My husband is also self-employed, so our family has no benefits unless we purchase them ourselves. If you’re lucky enough to have a partner with corporate benefits, you are ahead of the game. The check I write each month for the health insurance is bigger than the check I write each month for the mortgage. But please don’t ever take the risk of going without health insurance. The leading cause of bankruptcy in the United States is medical bills.
No IT department
The first time my laptop broke, I really missed the IT department. Now I buy a new laptop every few years, before the old one breaks down completely, and I keep the old one to use in an emergency. My system also backs up automatically to the cloud twice a day. There is no excuse for losing client work with all the options available today.
One night I was sitting in my home office working and I decided I needed a red pen. I got up to head for the supply room and realized, there is no supply room, oh… I had to laugh. It wasn’t too difficult to stock up the supply cupboard. Make sure you always have an extra toner cartridge for the printer. Murphy’s Law dictates that you will run out of toner at 2:00 am when you’re preparing hand-outs for a 7:00 am board meeting.
You will quickly learn to build your network of support professionals and then you’ll be good to go!
- You were able to earn MORE than your corporate salary.
- You sometimes forgot that you even work full-time.
- You could decide when you work, where you work, and how you work.
- You could go on that fishing trip or climb Mt. Everest.
- You could play golf every morning.
- You could have even more impact than you do as a full-time employee.
You can have all these things and more by using your expert skills in your own successful consulting business.
People sometimes ask me, “What can I learn from you that I couldn’t figure out on my own?” I reply, “Absolutely nothing, but it took me 15 years, how long do you want to wait?”
The best way to get started as a consultant is to dive in. This FREE EMAIL COURSE will walk you through three action steps to generate revenue now. If you start right away, you can be doing billable work as soon as next week. Following these three action steps gives you the best possible chance of landing a consulting project. It works for me and I see it work for others, over and over again. Take control and take the plunge!
This is the seventh of the Top Seven Things to Know About Starting Your Own Consulting Business. I’ve had my own consulting business for more than 15 years and I love it! It’s easier than you think to get started. I invite you to read the entire series to learn the Top Seven Things to Know About Starting Your Own Consulting Business.