Independent Consulting Bootcamp

Your future starts here...

Self Employed Business Wins every time




Operating as a Self Employed Business provides a number of Key Advantages to an Independent Consultant.

Relationship with your clients
  • Operating as a self employed business you will have your own loyal, hand-picked client base. That relationship is personal to you rather than being that of your employer. If you are not comfortable with any aspect of that relationship then you are able to propose changes to the client and ultimately have the option to terminate that relationship if in your view the balance of risk and reward is not acceptable
  • As a self employed business, the contract that you agree and sign directly with your client defines the nature of the relationship, services to be provided, fees and expenses - this puts YOU firmly in control
  • Running a self employed business is hard work . You will sometimes need to work long hours, but it's all on your terms
  • You get true satisfaction from doing a good job for your clients


Financial
There are many financial advantages available to an individual operating a self employed business compared with someone working as an employee.

  • Your fees will fully reflect the market value of your skills, experience and expertise
  • Operating as a self employed business your annual profits are likely to treble or even quadruple your previous annual salary as an employee
  • You could repay your mortgage in full tomorrow if you chose to do so
  • You invoice your clients direct and the full value of each invoice (including Sales Tax / VAT) is credited direct to your own business bank account within 30 days (or in line with terms as agreed)
  • You pay yourself first - before you pay the tax man. At the end of each trading year, you decide how much to pay yourself from your own business

Taxation
  • On advice from your accountant and tax adviser you structure your drawings from the business as a mixture of salary, dividends and other benefits to optimise your tax position
  • Your business pays tax many months or even years after the end of the trading period in which the profit was generated. Meantime, that cash is on deposit, fully in your control, in your business bank account, earning you interest
  • You pay tax typically at a lower average rate than previously as an employee

The combined effect of higher earnings and lower average rates of taxation make self employment very attractive relative to working as an employee.
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Self respect and reputation
  • You have no need to sell - your hard earned reputation for delivery enables you to secure contracts through solid referrals from delighted clients - one of the real satisfactions of operating a self employed business
  • Your practice is flourishing; you have a growing portfolio of written testimonials from delighted clients that you are proud to be able to show to potential new clients

Your network
  • You are part of a flourishing network of like-minded Independent Consultants
  • Each an expert in his own field
  • Each willing selflessly to help, support and assist others in the network

Mindset and perspective
  • You feel energised, exhilarated and excited by the commercial opportunities that open up to you on a daily basis
  • You wake each morning with a feeling of empowerment - no longer the grey dawning of yet another day working to make someone else wealthy
  • Typically your mind races as you try to sleep as you work through the range of possibilities for developing your practice

Flexibility and lifestyle - work life balance
  • You will be able to choose when to take your holidays and take time out for professional development. For example, you could schedule a four week holiday during August to coincide with your clients' summer break, comprised of two weeks in the sun and two weeks of professional development activity
  • You will also be able plan ahead to take longer breaks, for example three months, to enable you to plan the next phase of development of your business or simply enjoy time travelling or with family
  • As you develop and refine your self employed lifestyle you will have the opportunity to achieve a much more satisfactory work life balance

Pricing and Speed of Response
There are a number of key commercial advantages to operating on a self employed basis:
  • You will be able to price your services significantly below your competition since your business overheads will typically be much lower
  • You will be much more nimble, able to make decisions on the spot and respond much more quickly to the needs of your client

 



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