Consulting is a self-employment option that makes use of your talents and skills to help others who need your services. Consulting comes with a flexible schedule, which makes it easy to fit childcare and other family duties into your work schedule. However, there are some issues that make this job unideal to some people.
The Pros of Consulting
Consulting usually comes with a high hourly wage that is related to your skill in the industry. With experience and credentials, it is possible to earn far more as a consultant than as an employee. This means a better lifestyle and fewer working hours necessary to maintain that lifestyle.
Consulting keeps your valuable skills sharp for future employment opportunities. Even if you want to leave consultancy eventually, the time you spend as a consultant keeps you up to date on the latest trends in the industry. It also stocks your resume with a variety of projects that expand your skills.
The flexibility of consultancy hours makes this profession particularly attractive to parents. Client consultations can be scheduled around the children's schedule, unlike most traditional jobs.
Working for many different clients keeps the work day varied. This is one of the factors that interests people who have become bored in their jobs. Each day in consulting is different, keeping you from boredom and burnout.
Social people will appreciate the many networking events that consultants should attend. Joining professional groups and networking at events drums up business, and it can be fun for those who enjoy those occasions.
Choosing your own work projects gives you the ability to control who you work for and how your days pans out. When working for someone else, that type of control is rarely possible.
The Cons of Consulting
One of the biggest cons for those who go into the consulting business is that the business does not always provide a steady income. With self-employment, there can be lean times in which consulting work is scarce. This can be difficult for some families who are dependent on the income.
Collecting money from consulting clients may be easy for some clients and difficult for others. Consultants run the risk of clients who don't pay or who put off payment for extended periods of time. This can be a real hardship on a family's finances.
Building a consulting business can take time and money. Marketing your consulting services may require advertising or web design services to make your business visible to prospective clients.
When you are a consultant, you have to take care of your own benefits, taxes and retirement savings. You don't have a boss to take care of withholding or to give you benefit choices. It can be expensive to pay for your own benefits, and holding back money for taxes can be difficult for families on a budget.
Making cold calls, visiting clients and attending other social engagements can be hard for those who are shy or who have scheduling difficulties in meeting clients and attending events. With children at home, it can be difficult to get away from home to meet with clients on short notice.