Consulting, contracting and freelancing : be your own boss

Use the skills and experience you have gained in the workplace to move on to the next stage of your working life-as a consultant, contractor or freelancer. Self-employment as a service provider can give you the opportunity to work on your own terms, in your preferred location and to enjoy a lifestyle that is healthier, more relaxed and satisfying. This practical book takes you through the steps to: * Realise your vision of successful self-employment in a viable consultancy, freelancing or contracting business. * Position yourself in the market place so that you will be recognised as a consultant, contractor or freelancer. * Discover the various marketing approaches you can use and which best suit your own style. * Develop a business plan which is realistic and effective, based on successful real examples. * Learn how to price your work, know what others are charging and how to negotiate with clients so that the focus is more on your work than on your fee. * Decide which of the various business structures-sole trader, partnership or incorporation-is best for you. * Be aware of the pitfalls of solo practice so you can avoid them. Part Title......Page 5 Title Page......Page 7 Dedication......Page 9 Contents......Page 11 Preface......Page 15 1 Why become a consultant?......Page 19 What are consulting, contracting and freelancing?......Page 21 What do you need to become a consultant?......Page 22 Being a service provider is not enough!......Page 24 How does consulting differ from being an employee?......Page 26 How is being a consultant different from buying a business?......Page 27 Why is consulting a growth industry?......Page 28 Some typical consultant situations......Page 30 Do you have the appropriatee qualities?......Page 33 Key points......Page 38 2 Are you ready for this?......Page 39 What would you like to do?......Page 43 Are you ready for a change in your life?......Page 44 Where have you been and what did you do there?......Page 46 How do I show my experience is relevant?......Page 47 If I take this step, what sort of consultant will I be?......Page 52 What are the required skills?......Page 54 Do I present as a specialist or as a generalist?......Page 56 Key points......Page 59 What is the business plan?......Page 60 First, you undertake the planning process......Page 61 The parts of a written business plan......Page 75 Key points......Page 80 4 Establishing your office......Page 81 Why have your office at home?......Page 82 Where will you put your home office?......Page 85 What really makes a home office work?......Page 87 Would an external office suit you better?......Page 89 What equipment is needed?......Page 93 Are home offices professional?......Page 96 Key points......Page 98 Step 1: Selecting the business structure......Page 99 Step 2: Choosing your name......Page 106 Step 3: Do you need to register for GST?......Page 109 Step 4: If you are going to be a company, acquire it and register it......Page 110 Step 5: Registration of business name, ABN and tax registration......Page 111 Other establishment issues......Page 112 Key points......Page 119 How much will I charge?......Page 120 Set-up costs......Page 121 Operating costs/overheads......Page 123 Pricing: Converting your salary into a daily rate......Page 127 Costing......Page 129 I have the cost of the job: what will I price it at?......Page 131 Pricing questions......Page 137 Variations......Page 140 How do I negotiate fees?......Page 142 Getting the money in......Page 147 2007 Australian consultant market modal rates......Page 149 Key points......Page 152 Marketing: The first step......Page 153 Step 2: Adopt 'best practice' tangibles......Page 155 Step 3: Prepare your six-part marketing mix......Page 160 Step 4: Create your marketing tools......Page 167 Vignettes......Page 171 The minimum consultant marketing tool kit......Page 172 Step 5: Now, do some marketing!......Page 174 Key points......Page 183 8 Securing the engagement......Page 184 Why is it necessary to sell?......Page 185 Thinking about how to handle the first contact with a prospect?......Page 186 The first contact......Page 187 Ideas for a better interview......Page 189 The easiest sale......Page 192 How do I make my experience appear relevant?......Page 194 Writing the proposal......Page 195 Following up......Page 198 Key points......Page 201 Proposals: A core competency?......Page 202 Writing the proposal......Page 203 Cautionary footer for emails......Page 213 Key points......Page 214 The advisory process......Page 215 How do I handle the post-delivery part?......Page 218 Key points......Page 219 The five areas for growth......Page 220 1. How do I keep up to date?......Page 221 2. How do I grow my client base?......Page 226 3. Am I ready to move into a commercial office?......Page 233 4. Do I want to take on staff?......Page 236 5. Am I ready for partners?......Page 238 Key points......Page 241 12 It's there for the asking. Do you want it?......Page 242 Endnotes......Page 245 Resources......Page 248 Index......Page 259 Be your own boss Part Title 5 Title Page 7 Dedication 9 Contents 11 Preface 15 1 Why become a consultant? 19 What are consulting, contracting and freelancing? 21 What do you need to become a consultant? 22 Being a service provider is not enough! 24 How does consulting differ from being an employee? 26 How is being a consultant different from buying a business? 27 Why is consulting a growth industry? 28 Some typical consultant situations 30 Do you have the appropriatee qualities? 33 Key points 38 2 Are you ready for this? 39 What would you like to do? 43 Are you ready for a change in your life? 44 Where have you been and what did you do there? 46 How do I show my experience is relevant? 47 If I take this step, what sort of consultant will I be? 52 What are the required skills? 54 Do I present as a specialist or as a generalist? 56 Key points 59 3 Business plan 60 What is the business plan? 60 First, you undertake the planning process 61 The parts of a written business plan 75 Key points 80 4 Establishing your office 81 Why have your office at home? 82 Where will you put your home office? 85 What really makes a home office work? 87 Would an external office suit you better? 89 What equipment is needed? 93 Are home offices professional? 96 Key points 98 5 Establishing your business 99 Step 1: Selecting the business structure 99 Step 2: Choosing your name 106 Step 3: Do you need to register for GST? 109 Step 4: If you are going to be a company, acquire it and register it 110 Step 5: Registration of business name, ABN and tax registration 111 Other establishment issues 112 Key points 119 6 Financial aspects 120 How much will I charge? 120 Set-up costs 121 Operating costs/overheads 123 Pricing: Converting your salary into a daily rate 127 Expenses 129 Costing 129 I have the cost of the job: what will I price it at? 131 Pricing questions 137 Variations 140 How do I negotiate fees? 142 Getting the money in 147 2007 Australian consultant market modal rates 149 Key points 152 7 Marketing your business 153 Marketing: The first step 153 Step 2: Adopt 'best practice' tangibles 155 Step 3: Prepare your six-part marketing mix 160 Step 4: Create your marketing tools 167 Vignettes 171 The minimum consultant marketing tool kit 172 Step 5: Now, do some marketing! 174 Key points 183 8 Securing the engagement 184 Why is it necessary to sell? 185 Thinking about how to handle the first contact with a prospect? 186 The first contact 187 Ideas for a better interview 189 The easiest sale 192 How do I make my experience appear relevant? 194 Writing the proposal 195 Following up 198 Key points 201 9 Writing proposals 202 Proposals: A core competency? 202 Writing the proposal 203 Cautionary footer for emails 213 Key points 214 10 Service delivery 215 The advisory process 215 How do I handle the post-delivery part? 218 Key points 219 11 Growing your business 220 The five areas for growth 220 1. How do I keep up to date? 221 2. How do I grow my client base? 226 3. Am I ready to move into a commercial office? 233 4. Do I want to take on staff? 236 5. Am I ready for partners? 238 Key points 241 12 It's there for the asking. Do you want it? 242 Endnotes 245 Resources 248 Index 259 A new edition of a very practical business book on going it alone as a freelance consultant.Use the skills and experience you have gained in the workplace to move on to the next stage of your working life-as a consultant, contractor or freelancer.Self-employment as a service provider can give you the opportunity to work on your own terms, in your preferred location and to enjoy a lifestyle that is healthier, more relaxed and satisfying.This practical book takes you through the steps to:* Realise your vision of successful self-employment in a viable consultancy, freelancing or contracting business. * Position yourself in the market place so that you will be recognised as a consultant, contractor or freelancer. * Discover the various marketing approaches you can use and which best suit your own style. * Develop a business plan which is realistic and effective, based on successful real examples. * Learn how to price your work, know what others are charging and how to negotiate with clients so that the focus is more on your work than on your fee. * Decide which of the various business structures-sole trader, partnership or incorporation-is best for you. * Be aware of the pitfalls of solo practice so you can avoid them. Self-employment as a service provider can give you the opportunity to work on your own terms, in your preferred location and to enjoy an improved lifestyle. This reference shows readers how to use the skills and experience they have gained in the workplace to move on to the next stage of their working life - as a consultant or freelancer. "A practical guide to becoming a successful consultant, with advice regarding all aspects of making the transition to being self- employed." - - Provided by publisher