What Contractors Can Learn From Game of Thrones

Originally written July 2019 (When we were in the Summer of Contracting)

Winter is Coming!

Anyone remotely interested in Game of Thrones will know this line. It has become renowned with the popular HBO series but surprisingly, was actually said just 15 times before winter arrived.

Contracting too has seasons (which I've detailed below). Up until the effects of Covid19, we were in the middle of the Contracting Summer. We had a brief winter through April and May. We're now in Spring and my prediction is the Contracting SUmmer will be with us by September.

More and more people are opting to become Independent Professional Contractors because it’s easy to get set up, it offers great flexibility, higher earnings and greater prospects of working with companies where you might otherwise not have the opportunity to do so.

Policy makers, research institutes, the media and many more outlets are talking about the new world of work and remote working and flexibility. The current working arrangements have made workers more used to, and companies more open to, home/remote working arrangements.

The fear I have however is the 'talk' by companies about the benefits of this remote-working might not transition them into walking the walk when all returns to normal.

If the work-life balance you have now while working from home is something you crave, then you may just have a better chance of retaining that as an Independent Contractor rather than an employee. It’s a perfectly acceptable way of working. It’s compliant, you pay your taxes each month, you’re fully insured (with Contracting PLUS) and there’s nothing to worry about. Making Contracting Simple is our tagline - it's what we do.

The contracting seasons don’t match the seasons of nature, but in life everything is cyclical.

Spring:

Follows winter like night follows day. Things start to warm up (this is where we currently are). New opportunities bud. Your phone starts to tweet a little more often. Negotiate carefully because summer is on the way.

Summer:

Earnings are high. Your skills are in demand. More contract roles become available. (I expect us to be here by September).

Autumn:

Putting in the hard work will reap rewards at harvest time. Those who have proven their worth will get picked. If your clients see you as a necessary part of their business, you’re in a strong position.

Winter:

Don’t get left out in the cold. Once you’re indoors (in a contract) you’re in a good position. You might not be getting the highest rate, but it’s secure. Employees are losing jobs, but companies still need work done and they'll opt for Contractors over the the higher risk of taking on permanent employees. Work hard, keep your head down and you’ll be leaping come spring time.

It can be difficult for Contractors operating alone or in smaller pockets to have a good barometer to gauge the market temperature so follow Contracting PLUS so you get all the latest news on what’s happening in specific industries and in the Contracting market as a whole.

No one is immune from downturns, but the financial planning and advice service we provide gives our Contractors that extra level of security as they feel one step ahead of the posse.

Contracting will see you earn more money. However, it’s not how much you earn, but how much you keep that matters!

If you would like any more information about Contracting, please call our Solutions team on 1 800 54 54 22. You don't need to be a client to get good advice on your next (or first) contract role.

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