Explained! What Is a Freelance Consultant and How to Become One
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If you clicked on the article, you may be wondering: What is a freelance consultant? Rest assured, you clicked on the right article.
Thereβs no denying that freelancing in general is on the rise. There are several stats from credible sources which can prove it. These days, more and more people want flexibility and freedom. Gone are the days when professionals would spend thirty years in the same cubicle and retire. In fact, such a working arrangement in this day and age would be considered a nightmare.
Itβs true that workers in many industries, especially knowledge workers, are adopting this new way of working. You may have heard of freelance graphic designers, copywriters, and photographers. But can consultants get into freelancing too? And, if yes, then how to become a freelance consultant?
Letβs dive into it.
Thereβs no denying that freelancing in general is on the rise. There are several stats from credible sources which can prove it. These days, more and more people want flexibility and freedom. Gone are the days when professionals would spend thirty years in the same cubicle and retire. In fact, such a working arrangement in this day and age would be considered a nightmare.
Itβs true that workers in many industries, especially knowledge workers, are adopting this new way of working. You may have heard of freelance graphic designers, copywriters, and photographers. But can consultants get into freelancing too? And, if yes, then how to become a freelance consultant?
Letβs dive into it.
What Is a Freelance Consultant?
You may be used to the term βfreelancerβ. And, of course, you have heard the term βconsultantβ many times too. But what is a βfreelance consultantβ?
Well, first, letβs discuss what exactly a freelancer does in general.Β
Freelancers, in any industry, are contractors who engage with a company for a particular task or project. They arenβt employees as such. This means that they can choose who they work with, engage with multiple clients at the same time, and set their own rates.Β
However, the client is not obligated to offer them employee benefits like insurance, sick leave, gym membership, tools of the trade, etc. So, although there are some benefits to being a freelancer, there are some drawbacks too.Β
Okay, so weβve discussed the term freelancer in a general way. Now, letβs discuss it from a consulting perspective. So, what is a freelance consultant?Β
You see, most successful consultants start their careers working with big consulting firms. However, itβs insanely competitive there. Consulting firms are widely known to have an βup or outβ policy. This means that you either climb βupβ the corporate ladder or youβll be βoutβ of the system. Apart from this, thereβs usually a strict hierarchy and promotions only come after a few years of work.Β
This system may not suit everyone. Thatβs why some consultants, who are bright and hardworking, may choose a different path. And that is freelancing as a consultant in a nutshell. To elaborate, freelance consultants do everything that a consultant from a big consulting firm does. However, theyβll find their own clients, negotiate deals themselves, and lead the project. There wonβt be a senior consultant telling them what to do, and there wonβt be any competition with other consultants. Freelance consultants can choose their own hours, clients, and fees. This sense of freedom and flexibility is one of the reasons why consultants become freelancers.Β
If you want to know more about freelance consulting, you may like this article: Freelance Consultants Are More than Just a Trend
Well, first, letβs discuss what exactly a freelancer does in general.Β
Freelancers, in any industry, are contractors who engage with a company for a particular task or project. They arenβt employees as such. This means that they can choose who they work with, engage with multiple clients at the same time, and set their own rates.Β
However, the client is not obligated to offer them employee benefits like insurance, sick leave, gym membership, tools of the trade, etc. So, although there are some benefits to being a freelancer, there are some drawbacks too.Β
Okay, so weβve discussed the term freelancer in a general way. Now, letβs discuss it from a consulting perspective. So, what is a freelance consultant?Β
You see, most successful consultants start their careers working with big consulting firms. However, itβs insanely competitive there. Consulting firms are widely known to have an βup or outβ policy. This means that you either climb βupβ the corporate ladder or youβll be βoutβ of the system. Apart from this, thereβs usually a strict hierarchy and promotions only come after a few years of work.Β
This system may not suit everyone. Thatβs why some consultants, who are bright and hardworking, may choose a different path. And that is freelancing as a consultant in a nutshell. To elaborate, freelance consultants do everything that a consultant from a big consulting firm does. However, theyβll find their own clients, negotiate deals themselves, and lead the project. There wonβt be a senior consultant telling them what to do, and there wonβt be any competition with other consultants. Freelance consultants can choose their own hours, clients, and fees. This sense of freedom and flexibility is one of the reasons why consultants become freelancers.Β
If you want to know more about freelance consulting, you may like this article: Freelance Consultants Are More than Just a Trend
KEY TAKEAWAYS
- Experienced consultants may choose to leave the corporate hierarchy and start freelancing for better work-life balance, autonomy, and flexibility.
- Taking sales and consulting-related crash courses can give you more confidence when you plunge into freelance consulting.
- Itβs advised to have practical experience as an employee at a consulting firm before you start freelancing.
- Choosing a specific niche for freelance consulting and excelling at it may be the best choice in the long run.
- Online consulting platforms can help you find new clients relatively easily as compared to any other method.
How to Become a Freelance Consultant?
Well, we started this article with βwhat is a freelance consultantβ. But now, itβs time to give you some actionable insights on how to become one. So, pay attention, because each of these steps is important.
For example, to become a freelance consultant who gets clients constantly, you should get some sales training. The fact is, being an employee in a non-sales position doesnβt give you the much-needed sales experience. As a freelancer, youβll need to learn how to close new projects. So, getting some education and training in this field could be very helpful.
Also, you could take some crash courses to brush up on your knowledge of consulting frameworks and strategies. Consultport Academy, for example, offers courses such as Business & Corporate Strategy, Internal Analysis, and Implementation & Change Management Strategy, to name a few. Itβd be a good idea to take some of these courses and quickly go through what you have learned in university. After taking these short-term courses, you can also have a boost in your confidence as a consultant. And that is something youβll surely need when youβre talking to clients.Β
1. Get a little more education than a university degreeΒ
If youβre reading this article, then itβs highly likely that youβre the type of person who takes education seriously. Itβs also very likely that you have either completed an MBA or are thinking about pursuing it. But if you want to become a freelance consultant, you may need some more education. Weβre not talking about another university degreeβthatβd be too lengthy and time-consuming. However, there are some short-term courses that can help.ΒFor example, to become a freelance consultant who gets clients constantly, you should get some sales training. The fact is, being an employee in a non-sales position doesnβt give you the much-needed sales experience. As a freelancer, youβll need to learn how to close new projects. So, getting some education and training in this field could be very helpful.
Also, you could take some crash courses to brush up on your knowledge of consulting frameworks and strategies. Consultport Academy, for example, offers courses such as Business & Corporate Strategy, Internal Analysis, and Implementation & Change Management Strategy, to name a few. Itβd be a good idea to take some of these courses and quickly go through what you have learned in university. After taking these short-term courses, you can also have a boost in your confidence as a consultant. And that is something youβll surely need when youβre talking to clients.Β
2. Earn some work experience with consulting firmsΒ
Hereβs the deal: If you want quality clients, youβll need to have some work experience first. Unless youβre very well-connected and can find freelance clients easily as a result, it may be difficult to get into freelance consulting without experience. So, you should ideally start working with a consulting firm first and get some practical experience. When it comes to consulting firms, the more prestigious they are, the better itβll be for you. For example, if you introduce yourself as John Smith, Ex-McKinsey, or Laura Simpson, Ex-BCG, your name will carry a lot of weight.ΒHowever, you donβt necessarily need to be with MBB or the Big Four to become a freelance consultant. What you need is knowledge of how consultants actually solve problems. During your time as an employee at a consulting firm, youβll learn all-things consulting. Youβll learn how to collect quantitative data and qualitative data. Youβll learn how to use an issue tree and fishbone diagram to get to the root of the problem. Youβll learn how to practically use consulting frameworks. And most importantly, youβll learn how to present your recommendations to clients.Β
The fact is, these things cannot be taught over the internet. You have got to engage in them to truly understand them. Being a freelance consultant without this knowledge may be futile. So, get some work experience first.Β
3. Choose a niche
Ideally, you shouldnβt just want to become a freelance consultant. Instead, you should strive to become the go-to person in a certain niche of consulting. So, instead of calling yourself a freelance consultant, you should call yourself a βfreelance digital transformation consultantβ or a βfreelance HR consultantβ.Β ΒIn the article Still Worth It? An Overview of Freelance Consulting in 2023, we have mentioned some niches that could grow post-pandemic. These are as follows:
- Private Equity
- Healthcare
- Insurance
- Tech
- Retail
4. Market your freelance consulting services
As mentioned before, when you become a freelance consultant, youβll have to find clients yourself. So, consider yourself to be a one-person business. Now, you may be thinking: How to find clients as an independent consultant? Letβs find out.
- Networking: Your personal and professional network can be of great help when you start off as an independent consultant. Especially if youβve already worked as a consultant and have good relations with potential clients. So, use your network to spread the word.
- Social media: LinkedIn can be a great tool for budding freelance consultants. You could post consulting-related content to attract clients to you. However, it can take a long time to build a personal brand online. Meaning that even though social media is useful, it shouldnβt be your only way to find clients.
- Speaking engagements: Do you know who your target audience is? Do you know which events they attend? Well, then try to speak at those events. In particular, you should discuss how you solved a client's problem in the past and explain the results they achieved because of your expertise.
- Online consulting platforms: This is by far the best way to find clients as a freelance consultant. Online consulting platforms, like Consultport, can connect you with potential clients easily. This is how it works: First, you send your CV to an online consulting platform. Then, based on your skills and experience, the platform representatives will connect you with clients who are looking for someone exactly like you. How convenient!
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