Why consulting will likely be a part of your career

The unemployment rate is an extremely low 4.1%, and many employers in fact now believe that there is a shortage of workers. So why is it still so difficult for some people to find jobs?

Regardless of the reasons, the answer for some people is to join the growing “gig” economy, and work as consultants. That is what well known career columnist Liz Ryan advises in her essay “Wake Up and Smell the Coffee: Employment is Over.” She knows that consulting can actually provide more job and income security than a full time job:

The old notion of employment has devolved into short-term project work. It doesn’t matter whether you get paid a salary, hourly wages or a consulting fee. Consultants and contractors have more job security than traditionally-employed people do now, because traditional employment comes with no guarantee of job security whatsoever. . . . Sometimes a full-time will meet your needs best, and other times a consulting engagement will be the best option for you. Limiting yourself to full-time jobs with benefits today is the worst thing you can do. Flexibility is the key.

Most successful consultants have multiple clients, and therefore multiple different sources of income. That in many cases provides them with more job and income security than workers whose entire income is from one employer. Many employers also like to hire consultants because they are often much cheaper than regular employees.

Here are some suggestions about how to start your consulting career.

Start consulting while you still have a job. This is critically important. If you wait until you lose your job to start consulting, you may have no income for months. You will have to deplete your savings, possibly even your retirement accounts, just to pay your bills. You should absolutely file for unemployment benefits if you lose your job. But unemployment benefits will not replace all of your previous income. In the aftermath of the recession, some states also reduced benefit amounts and the maximum number of weeks that recipients can collect benefits. 

Improve your speaking skills. Are you afraid to make a presentation, even to your colleagues and coworkers? You are definitely not alone. But being able to speak well is the best way to impress prospective clients. Very few consultants succeed despite poor speaking skills. Organizations like Toastmasters can help you learn to speak with confidence in any setting.

“Always be learning.” The workers in “Glengarry Glen Ross” are famously told that to keep their jobs they need to “always be closing.” To be successful as a consultant, you need to “always be learning,” especially about new developments in your industry. Free or inexpensive classes are ubiquitous, either online, or at local community colleges.

Become the “go to” person in your industry. Showcase that learning, and your decades of expertise and knowledge, as often as possible. Write and publish articles on LinkedIn. Many chambers of commerce and community groups are eager to publish articles from local industry experts in their newsletters. They also want experts to speak to their members. This is how you become the “go to” person in your industry.

Get free advice and help from executives. Free advice and help for new business owners is available from organizations like SCORE. Many state workforce agencies also offer free seminars and classes about how to start and run your own business.

Create a website. Having a website provides immediate professional credibility to your business. Websites can now be created using the “drag and drop” method, so it is no longer necessary to know how to code. Weebly, Wix, and Squarespace are popular service providers. They will also host your website, including a blog, and register your domain name. 

Losing a job is devastating. But these suggestions will help you join the millions of people who transform their layoff into a successful consulting career.

Good luck!