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Going it alone

 
#1 Going it alone
06/08/2009 13:50

sumo

I was made redundant a couple of months ago from a niche practice in London and given the current economic climate and eveybody else who's in the same boat, find that the job market is no longer like what it was 12-18 months ago. I have had a small number of interviews but they have not amounted to anything.

My background is in Project & Programme Management, Process Improvement, Change Management and 6 Sigma.

So I thought what about setting myself up as a limited company and going it alone? My initial thoughts are to target SMEs within a radial distance from home and cold call and offer my services to help them reduce cost and streamline their operations using my experience and this does not mean making more people redundant.

Any thoughts will greatly be appreciated.

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#2 RE: Going it alone
06/08/2009 14:00

J to sumo (#1)

Do it!

You don't need that high a day rate to earn what you were, and you will probably find clients who want a personal relationship with you, and who you are, rather than a brand, which translates into longer term assignments. Tax wise a limited company is surprisingly tax efficient.

Do consider if you want/are happy to do consultancy/contracting/interim management because they are very different beasts.

What I am a little worried about is the emphasis on cold calling. Generally I sell to people who already know what I can offer. A good agent can add lots of value.

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#3 RE: Going it alone
06/08/2009 14:25

Sumo to J (#2)

J, thanks for your advice.

Could suggest some good agents that you mentioned in your email?

Once again, many thanks

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#4 RE: Going it alone
06/08/2009 22:33

J to Sumo (#3)

I get on well with Alpine, but bear in mind they are very public sector based

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#5 RE: Going it alone
07/08/2009 09:52

David to sumo (#1)

I am an independent consultant and have worked as one for four years. It is very much a famine or feast business and you need to have confidence and financial backing to see you through the quiet times. I have worked solidly for three years making far more income than I would have done in a salaried role but this year has been very quiet and I know many experienced and very good consultants who are out of work at present.

By all means go for it but ensure you can afford to do so. You may want to hedge your bets by keeping in with the permanent market.

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#6 RE: Going it alone
07/08/2009 19:22

lonestar to sumo (#1)

Well done. I've been working independently for 1 year, first year net matches previous employed salary, same background. First four months were slow.... two or three good projects under your belt, and word travels. Now pretty constant, but need to save for a rainy day, manage the pipeline, and be prepared to travel. All the best.

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