| Topic Name: |
Doing the Independent thing... |
| Message Name: |
I've done it |
| Date Posted: |
07/11/2003 |
| In Reply To: |
I'm a Sr. Manager at a top consulting firm and am considering some solid independent consulting opportunities at the moment. Already have a potential client lined up and am looking to structure a nice contract. Does anyone have any advice on what things to take into account when structuring an independent consulting contract with fees, hourly bill rates, costs incurred of going inpdependent, incorporating, benefits, pto, overhead, etc.? I'm obviously looking to set up something sweeter than what I currently have at the firm I'm with. So, I figure I need to take into account that my contract should cover total comp and costs as well as a nice profit. I've heard not to underestimate costs such as benefits and other overhead. Any advice is greatly appreciated.
Thanks. |
| Message: |
Well, it's your lucky day because I have done exactly what you are thinking of doing, and am successful. The other comments on billing are write on. Plan 50% of your time marketing and down time. Plan minimum $10k a year for associations, prof fees, networking, trade shows, etc., plan $10k on software, hardware, getting top of line equipment for presentations, etc. Once you get big, hire a part-time asst to do all the paper work. I recommend two books: Flawless Conculsting by Block, and Hot to Make it Big as a Consultant by William Cohen. Both excellent. I never worked for a big firm, I simply worked in premier operators on inside jobs all my life and had a great resume. One day I took my talents to freelance. By the way, you can design a good web-site for under $2k. I launch mine today and under construction. Check it out food.sense.com
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