Many of us want a more flexible lifestyle. We yearn to spend time with our family and work on projects that we find meaningful. That’s why many business professionals choose the consulting lifestyle. But what exactly is the consulting lifestyle, and how can it make a difference in your life?
Read on to find out what to expect and be prepared for what it entails. As you’ll soon discover, the consulting life is full of opportunities. And it may just hold the key to the freedom you’ve been longing for.
What Is the Consulting Lifestyle?
The consulting lifestyle is a popular career choice for many professionals. It offers the opportunity to work on a variety of projects and for different clients while still maintaining the flexibility of an independent contractor. Consulting is also attractive for people who enjoy working on short-term projects with the ability to take time off when they need it.
As a consultant, you will have the freedom to set your own wages, take on the jobs you want, and enjoy more free time with your loved ones. What’s more, you can set your own hours and enjoy traveling to new places as you serve the clients you want to serve.
If you’re considering making a change in your career, this guide will give you some insight into what the consulting lifestyle is like. So read on to learn about the many benefits that this profession offers to better determine if it’s a good fit for you.
How to Achieve Enough Success in Your Business to Live the Consulting Lifestyle
Are you ready to learn how to become a successful consultant? By following four fundamental steps throughout your consulting career, you can see big returns that help you achieve your goals.
#1: Set Big Goals!
There’s no way to sugar-coat it; you need to work hard right out of the gate to ensure financial security and freedom later. Dedication and commitment will go a long way to making sure you can enjoy extra time with your family. But you need to work doubly hard at the very beginning of your career to ensure that you can enjoy the consulting lifestyle later.
Therefore, don’t try to be like every other consultant you see or read about. You want to offer something different that attracts clients to your business. You can achieve this by setting big goals for yourself and doing what it takes to reach them.
#2: Charge What You Are Worth
Consultants are typically paid per project, which allows individuals to work on multiple projects simultaneously. This is appealing for people who enjoy working on short-term projects with the ability to take time off when they need it.
As such, you should never charge by the hour. Moreover, you may want to charge a retainer for your work. Just make sure that you don’t overcharge. You don’t want to scare away prospective clients, especially during months that aren’t as busy as others. That being said, most consultants have the opposite problem: they undercharge for their work. There’s a fine line here, and with experience, you’ll learn how to toe it in your favor.
Additionally, there are no defined job responsibilities or set working hours for consultants, which means you can tailor your schedule around your life outside of work. This in itself is very appealing to professionals who are looking to spend more time with their families.
However, this also means that there isn’t any financial stability. It’s possible for consultants to be unemployed at one point in their career and then have months where they’re working non-stop with no break in between. You can help offset this potentiality by charging fair rates for each project.
#3: Don’t Take on Toxic Clients
One of the best parts about being a consultant is that you get to pick and choose your clients. If you encounter a client who only serves to cause you headaches and hassles, they will prevent you from becoming the success you envision.
As such, you should avoid signing any client who doesn’t pay you for your work or complains about the time and work you’re putting in. These types of clients ultimately end up wasting your valuable time and aren’t worth it.
One of the benefits of the consulting lifestyle is the opportunity to work with lots of different people. So instead of working with toxic clients, work with those who bring something to the table. Every day can be an opportunity to network and share your knowledge.
It’s important to remember that networking is not just for finding new clients—it’s something you’ll do every day as a consultant. Be open-minded when talking with clients and other consultants, who will often share valuable information that can help you do your job better and get one step closer to realizing your goals. Living the consulting lifestyle means living an interesting life, meeting lots of new people, and gaining valuable experience each and every day.
#4: Build Passive Income
While your consulting services are the backbone of your business, you shouldn’t stop there in your efforts to make more money. While you are serving your clients, you can build passive income by creating information products like e-books, webinars, and online classes to sell on your website.
The information products you create can teach people valuable “how to” information about your niche. For example, if you are a marketing consultant that helps people grow their businesses, you can create a class or webinar about how to do online marketing or how to create great sales copy. Very few things are as satisfying as making money while you sleep – but that's the beauty of working passive income products into your consulting business strategy.
Be Deliberate About Your Business
In living the consulting lifestyle, it’s important to remain steadfast in your goals. You have to remember that you are in charge of your consulting business, not anyone else. As such, never let anyone try to tell you how you should run your company.
By being deliberate about your career and creating an action plan for success, you can be sure to avoid the pitfalls of trying to be like other consultants. You have a vision for the future, so implement what you know and learn along the way to see your dreams come to fruition. The consulting lifestyle is a great lifestyle for any entrepreneur that wants to be their own boss, control their own time, and make good money helping other people and businesses succeed.