What do you do if you're a mid-career accountant looking to transition into consulting or freelancing?

1 Assess Skills

As a mid-career accountant, start by evaluating your current skill set and identifying areas for improvement. Consulting and freelancing often require a broader range of competencies than traditional accounting roles. You may need to strengthen your advisory skills, learn new industry-specific software, or become familiar with market trends that affect your potential clients. Consider taking courses or obtaining certifications that can bolster your expertise and make you more attractive to clients. Remember, the more versatile and knowledgeable you are, the more value you can offer as a consultant or freelancer.

3 Network Building

Building a robust professional network is essential when transitioning into consulting or freelancing. Start by reaching out to former colleagues, industry peers, and other professionals who can provide referrals or collaborate on projects. Attend industry events, join professional associations, and participate in online forums to expand your contacts. Networking isn't just about finding immediate clients; it's about establishing relationships that can lead to opportunities down the road. A strong network can also offer support and advice as you navigate your new career path.

4 Brand Creation

Your personal brand is your reputation and visibility in the marketplace. As a consultant or freelancer, you need to create a compelling brand that resonates with your target clients. This includes developing a professional website, crafting an engaging LinkedIn profile, and possibly creating content such as blogs or white papers that showcase your expertise. Your brand should communicate your unique value proposition: what sets you apart from other accountants and why clients should choose you for their consulting or freelancing needs.

5 Business Setup

Setting up your business is a critical step in the transition process. Decide on a business structure that aligns with your goals, such as sole proprietorship, limited liability company (LLC), or corporation. Register your business, obtain any necessary licenses or permits, and set up a dedicated business bank account. You'll also need to establish clear accounting practices for yourself, including invoicing, expense tracking, and tax preparation. As an accountant, you have an advantage in this area, but don't underestimate the administrative work involved in running your own business.

6 Marketing Plan

Finally, develop a marketing plan to attract clients to your consulting or freelancing business. This should include both online and offline strategies such as social media marketing, email campaigns, and networking events. Clearly define your services and target audience, and articulate how you can solve their problems or add value to their business. Consistently engage with your audience through valuable content and interactions. Keep in mind that marketing is an ongoing effort that requires persistence and adaptability as you learn what resonates with your clients.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?