It does not mean that you were carefree before hanging your shingle as an independent consultant. It is from all the hard work and training which has helped you to realize and establish as an independent professional.
Every professional dream of “becoming your own boss” and enjoy benefit from all the hard work done. No profit sharing, no bosses to rule, and sitting in your own office while working on your terms is a true bliss for any professional.
However, any job which pays you wants hard work, and perseverance but things become more intense when you are your own boss. There is no one to guide, save, and foresaw a disaster or a situation. In fact, there is no load sharing of the losses and issues which definitely crop up in any kind of entrepreneurship.
The owner needs to equip himself to bear the grunt of such unavoidable situations.
A few pointers and rules definitely make sure that you emerge a winner in any situation.
Discipline yourself; procrastinators are the worst kind of professionals and even the best talent is wasted if the job is delayed.
Do not work as a one-man army. This is a sure road to pitfall, as you will exhaust yourself very quickly and meanwhile will be less productive. Have a supportive back office which will reduce your workload and will do some work for you. Bookkeeping; account maintaining, billings, invoice generating and another plethora of work which takes away your productive time should be done by other qualified and trained staff.
Determining of fees is a very tricky job. An enthusiastic independent consultant tries to lure in the clients by lowering the fees. The fees charged by the consultant are not only the remuneration for the services but also an anchor for the professional to stay in the business. It is tough in fact hard-hitting to determine the fees that will make the client and the consultant satisfied. But, how to figure out the perfect remuneration that will satisfy both parties?
Keep in mind, you need to be flexible in consulting business and it is the thumb rule for the fees paranoia. So, no fixed remuneration chart in this business. You might need to compromise on it if your client really wants to hire you but has limited resources. Well, you gain much-needed experience in this bargain and you know the fact that it will compensate for future projects.
But yes, there is the ceiling for you to stoop down as it will not allow you to raise the fees in future. The ‘compromised fees’ is the foundation for future remunerations.