In late night restlessness, and throughout countless banal work days, this question has floated through the minds of many, many communications professionals…
Should I finally take the leap and go solo as a consultant?
For some, it’s an escapist fantasy.
For others, it’s a concrete long-term plan.
Nearly 10 years ago, I took that leap myself. I left my full-time role as an Account Director at a mid-size Chicago agency and jumped into the great unknown as an independent.
Today, I have a lot to say about the pros and cons of that decision.
Read on, and allow me to illuminate your path.
7 Reasons Not To Become A Consultant
You’re the primary breadwinner for a family – Due to the volatility and uncertainty of consulting, I wouldn’t suggest this path to anyone who needs to provide the primary income for underage children or other dependents. Candidly, your stress and anxiety level will be through the roof.
You live in the U.S. and depend heavily on your corporate healthcare plan – While there are absolutely solutions for consultants to find independent healthcare coverage, it’s not the best choice if you have recurring needs for expensive medications or complex treatments.
You have no financial cushion to provide for your start-up period – You’ll need runway to properly build your consultancy and client base (could be several months before income comes in), and that means having some savings in place to live comfortably while you put each brick in place.
You have no emergency savings to provide for lulls in work – Once you’re off and running, you will encounter periods of financial uncertainty. You may have weeks or months with little to no income. In addition to your start-up cushion, you’ll need an emergency fund to provide for these slow seasons.
You are extremely shy or have a visceral distaste for “selling” yourself – When you’re a consultant, you’re the product. Your counsel, your expertise, your abilities. There are many ways to effectively promote yourself that don’t feel gross – but if the whole idea gives you the ick, this probably isn’t the life for you.
You thrive off of lots of time with others, especially in-person – If you’re a born extrovert who cannot get enough time with your team, and especially if you love going into a bustling office, consulting may not be a great fit for you.
You struggle to self-motivate and hold yourself accountable – If you really need a manager looking over your shoulder, keeping you on-task and holding you accountable, you may not be as successful as an independent as you would be in a traditional full-time role.
7 Reasons To Become A Consultant
You crave control over your schedule – If you’ve long been frustrated by last-minute meetings suddenly being added to your calendar, having to be “on call” for your boss’s whims after hours, and feeling forced to attend workplace social events and happy hours, you’ll love having total ownership over your work schedule and time.
You want to choose your projects and partners – When you build an in-demand consultancy, you have the ultimate privilege and power of selecting the work you want to take, and the people you want to partner with. There’s no better feeling in the world than saying “no” to things you don’t want to do.
You have major goals and interests outside of work – When you’re paid what you’re worth, you don’t have to work all the time. Consulting life can provide a lot of time (throughout the week, or through extended breaks between projects) for your real-life goals and interests, whether that’s spending more time with your kids, starting a fun side business, volunteering more, or finally writing that novel.
You want to reach for a much higher income threshold – Consultants have no salary cap. If you become successful enough, you can command astronomical project fees and build multiple secondary streams of income (speaking, coaching, book publishing, etc).
You want to personally benefit from your hard work – As a consultant, every bit of work you do – whether it’s for a client, for your business administration, or to curate new leads – pays off for you personally. Not so with traditional full-time jobs, where the real payoff goes to senior leadership or shareholders.
You want to take your power back – Successful consultants understand that they have the power within themselves to create opportunities whenever and wherever they choose. As a consultant, you’ll never be laid off, demoted, underpaid or underappreciated.
You’re a self-starter with big ideas – If you’re a self-motivated person who loves working independently, and you always seem to have more visionary ideas than the next guy – you’ll love your life as a consultant.
I’ll leave you with this:
Consulting is definitely not for everyone. But if it’s for you, it might really be for you.
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Ashley Dennison is a longtime communications consultant and the founder of CommsConsultants.com. She’s built an expansive community of independent experts in communications, marketing and creative services. Follow her on LinkedIn for communications insights, hot takes and the occasional dog photo.
