Being a Consultant

I've decided to return to work this week. Not that I really want to -- I've still got some things to do with regard to my mother's passing. And the weather has been so nice that it's hard to go back to being cooped up in the house, staring at the computer all day.

The other issue is that I don't really have much work to do. I turned down many assignments over the past couple of months while my mom was ill. I just didn't have the time to devote to work while I was helping her out with her daily activities. But since her health was a lot more important than my work, it was an easy decision to make.

Many people want to be consultants because they hear about the good things -- you can set your own schedule, set your own fees, be your own boss, and work where you please. These are all wonderful things to have, and they are the main reasons that I have stayed with consulting for over 15 years. I've been offered a number of enticing jobs but have always turned them down. I like being independent.

But being an independent consultant has its downsides too. And one of the major downsides concerns income. If you're a consultant, no one pays your salary while you are on personal leave, on vacation, or if you get sick. You don't get paid a salary for those inevitable "down times" that occur when you have no work coming in. If your consulting practice requires you to market your services, you don't get paid for that either. You've got to pay for your own equipment, supplies, materials, and everything else you need to establish and run your business including legal and accounting services. You also need to get and pay for insurance, and set up your own retirement plan. Plus, like everyone else, you need to save for those rainy days and emergencies.

I'm not complaining -- just trying to give a realistic view of what's involved in being an independent consultant. So if consulting is something you're thinking about doing, make sure you consider both the good and not-so-good aspects of this type of work.