What are the risks of starting as a consultant?

There are risks in leaving the security of a 9 to 5 job and taking the plunge to become a consultant:

  • You may lack the profile to stand out and be noticed?
  • You may lack the credibility to attract customers
  • You may feel lonely and unsupported 
  • You may go through sleepless nights
  • Your financial reserves may not be big enough to funds your startup period
  • After all your effort your business may fail.

Want to reduce these risks? Check out GoConsult.nz – The Jungle Pathfinder for New Consultants

Bruce Holland’s experience

In 1992 I went consulting. In some ways I was qualified for the role and in others woefully unqualified. 

I had over 20 years experience working in large private sector corporates mainly in financial and strategy roles. However, I had limited experience in the two areas where I wanted to specialise: people (liberating human energy) and leadership. 

I knew about the private sector but had no experience in the public sector or local government. This was an issue because I lived in Wellington, the capital city of  New Zealand where most opportunities were in government. 

Finally, I had never run a business of my own.

Your risks may be quite different but I bet your fears are similar:

  • I had a great salary and conditions and no idea whether I would be able to replace them
  • I had never been a consultant and did not know if I had what it took
  • I had always worked in large corporates and never worked by myself
  • I had lots of ideas but no real products to sell
  • My brand was good inside my company but weak outside
  • I was concerned about selling myself, especially cold calls
  • I had no idea where my first job would come from or how much to charge.

The risks are real. I just wish I had a mentor like GoConsult.nz to help me get going.