career ,consulting ,freelance ,management ,management consulting ,

Management consulting as a freelance career

8You are an expert management consultant, which means you may be working for a traditional Big 5 firm or a boutique firm. Back then, there were no attractive alternatives to the usual Monday-Thursday travel schedule – leaving home and family at 5am on Monday, and coming back Thursday at midnight. Thankfully, for all of us, times are changing. There is a growing prestige and attractiveness to global, online high-end consulting services. A welcome disruption has occurred to the traditional consulting model.

Fortune 500 companies and boutique firms are increasingly turning to high-quality online consultants. It’s not surprising that several successful management consultants are flocking to the freelance lifestyle. Many of the excellent self-starter characteristics required to be a successful consultant, are also required for a successful high-end freelance career.

If you are qualified as a management consultant, you have two alternatives to select in terms of career – working for a consultancy firm or working as a freelance management consultant. The first option, of course, is the conventional way.  The latter option, working as a freelancer, enables you to work with a more flexible schedule and with freedom. However, becoming a successful management consultant turned freelancer demands self-discipline and intrinsic motivation.

Advantages of freelancing:

  1. Controlling your own hours without leaving the comfort of your home every week.
  2. Selecting and vetting your own projects and clients.
  3. Building your brand online.
  4. Experiencing a variety of cultures across the globe.

Disadvantages of freelancing:

  1. It’s not for everyone. It’s only for those who have the self-starter aka ‘be your own boss’ mentality.
  2. Lack of an office/company structure.
  3. Finding and funding your own healthcare and disability insurance.

How much can a management consultant-turned-freelancer earn?

We won’t build castles in the sky for you, but we know you have what it takes as a successful self-starter. This depends on the hours you choose to work and the hourly rate you wish to charge. Generally, this hourly rate may vary from $50 to $500. The rate, of course, depends on the industry you serve and the location of the client. Before you reach higher hourly rates, you should focus on branding yourself as a management consultant via efficient networking, garnering positive reviews, and various advertising services. Nevertheless, you need to be consistent, self-motivated and dedicated to the profession to build a stellar reputation online.

Where can you begin?

If you have enough contacts, networking abilities and already built a brand image, you can simply start your career as a freelancer. This requires quite a bit of bootstrapping on your part.  Another option is to join online platforms that connect skilled professionals to businesses via posted projects.  There are excellent websites/forums that allow you to join free of charge. So, please don’t get suckered into paying an upfront fee.

To brand yourself as a management consultant within these platforms, you need to develop your social networking too. Maintain a comprehensive, professional profile with LinkedIn.

Last but definitely not least, while establishing your career as a freelancer, it is imperative to scout around for affordable independent insurance policies. Please maintain your savings account on regular basis and don’t forget a retirement plan, too.

Share This:

About The Author

I graduated from a top 20 university (Emory) with a dual degree in English and Business. I have pursued a thriving business career with just over a decade of experience in marketing strategy, branding, and communications. I have worked with Fortune 100 companies’ billion dollar accounts, empowering them to create their most enduring brand stories. However, my most challenging accounts have been the boutique-sized accounts, where the money had to work hard for the client. I have also forayed into teaching high school English. I know when to be pithy and to the point. Conversely, I know how to weave a web of words like a work of art so that it ensconces the reader like a cocoon.


Related Stories

Management consulting as a freelance career

You are an expert management consultant, which means you may be working for a traditional Big 5 firm or a boutique firm. Back then, there…

Micro Consulting: Evolution of Management Consulting

Consumers expect convenience, agility, and customization in all things.  They are now accustomed to curbside grocery pick-ups, Lyft services, delivery of fresh meal kits,  and…

Strengthen your SkillQuo profile with LinkedIn

Social media is considered to be one of the most influential inventions of this century. Platforms like LinkedIn are dedicated for professionals to build networks…

Why are Highly Skilled Professions Moving Online and Away from Traditional Brick-and-Morter Buildings?

Due to the influence of information technology, automation and telecommunication systems, the way we work and find the top notch professionals is evolving. Simply put,…