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I've just been laid off from a big research agency, as part of a round of layoffs. I'm tempted by the idea of going freelance, but I could probably find another role on the agency side soon enough if I wanted to. What are the pros and cons of being an 'independent' in today’s market?
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Karen Morgan says: Depends how well you do on your own! We’ve seen a decline in consulting work in the past 18 months. It was easier to get this kind of work in a down market as consultants offered a temporary solution to clients without any commitment to hire them on permanently. Generally, I’ve seen it work against people if/when (and they usually do) they want to return to an organization. “Consulting” can be viewed as a synonym for unemployed. If you do make the decision to go out on your own, make sure you talk to potential clients to see how many would be open to working with you. Also, make sure your client list will be impressive. This will give you much more credibility both as a consultant and if you decide to go back to a company. Dabbling in work for a few non profits isn’t going to give you much credibility. We see a lot of this. One of the ongoing themes I’ve seen with folks out on their own is that if they do get busy, they are reluctant to hire anyone else and so don’t build a proper business. Again, if you can demonstrate that you built a practice beyond just yourself; this is evidence that you were successful. Some people have built small successful practices of 5-10 people and have been able to eventually sell them to larger research companies. It really depends what your goals and motivations are. Make sure you have a good reason for going out on your own. Don’t “just fall into it” as many people say they do.
Phil Reeve says: Independent will mean always looking for work and having to do the work no one else wants to do. Cons would be flexible hours and variety of clients and gaining experience selling yourself.
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