Independent Consultant

After establishing yourself in a particular domain of IT and becoming a real expert, can it be worthwhile to become an independent consultant? Does anyone here do this or do you know of anyone who does this? I am wondering if this is a viable way to make the big money? There seem to be many positives to this but I don't here of many people becoming independent consultant.

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Jon_Cisco

Typically in most situations the owner makes most of the profit and takes most of the risk. I am sure this is the case here also.

It is worth considering but only you know if you have the skills necessary to both market yourself in a sales role as well as complete as yet undefined tasks in a timely cost effective manner. I would be willing to bet that people try this well before they can be considered real experts. If you have a goal work towards it.

Good Luck!

paul78

denis92 wrote: »

After establishing yourself in a particular domain of IT and becoming a real expert, can it be worthwhile to become an independent consultant?

Yes. It can provide for a lot of freedom and choices when it comes to work/life balance. And I assume you really mean "independent consultant' vs contractor or sub-contractor.

denis92 wrote: »

Does anyone here do this or do you know of anyone who does this?

Yes - I do this.

denis92 wrote: »

I am wondering if this is a viable way to make the big money? There seem to be many positives to this but I don't here of many people becoming independent consultant.

It depends on what you mean by big money. But it can lead to that if that's your goal. You must be good at sales - which I suck at

Bear in mind that consulting businesses are income plays and do not fetch large multiples so you don't really see big money unless you can demonstrate recurring revenue with a service that scales.

malachi1612

Interesting.

I like to hear other peoples views on this as I'm thinking about doing the same.

I'm in my mid 30's, have no partner or kids but do have a mortgage on my house. So might be a good time to do this?!?!?!

denis92

Hey paul78, I have a couple of questions if you don't mind answering? How did you start out? Did you start doing it on the side at first while holding down a full time job or did you just go all in? Did you start by getting clients through recruiters?

paul78

malachi1612 wrote: »

So might be a good time to do this?!?!?!

The best time to do it is when you think you can afford it and when you are ready

You also should make sure you have some leads too.

denis92 wrote:

How did you start out?

My last job was as a CTO and I was just getting sick of the rat race so I decided to quit and start.

denis92 wrote:

Did you start doing it on the side at first while holding down a full time job or did you just go all in?

No. I had done pretty well over the last 3 decades and I had enough saved up to just go all in.

denis92 wrote:

Did you start by getting clients through recruiters?

No, I don't work with recruiters. I'm not a contractor. I have an independent consulting business. That's kinda why I asked if you really meant contracting vs independent consulting. My clients are my own. I do have partnerships and affiliate relationships where I may pay a small commission for leads but most of my client are referrals and direct selling.

Bear in mind that I am in the US - so your experience may differ in other parts of the world.

Feel free to ask any questions. I'm happy to answer if I can.