You do not seem to have sufficient experience to have built up a succesful track record to start purely on you own.
However the immediate things to do are:
1. Set up a limited company (JR Consulting Ltd) and engage a sharp accountant.
2. Invest in at least the following software packages - Microsoft Office Professional - Adobe PDF - Asta Power Project - P6 - Microsoft Project.
3. Set up a website for JR Consulting
4. Join linked in and pay for the premium package - get involved in relevant group discussions.
5. Take into account that you will be responsible for the all the staff members perks.
Be aware that when you go freelance it is very difficult to get back in employment as a permanent staff member.
More particular advice:
For those who are already working like this, what are the issues that you faced that I should consider before transitioning from salaried to freelance?
See above
What’s the best way to find new clients (I have a network that I believe would hire me initially but I’m trying to figure out how to make the transition because I don’t think there would be enough work to sustain my standard of living)?
Do not go poaching your employers clients - he will sue you
How do you determine billable rates and accurately estimate how long it would take to plan a project?
You can charge the market rate for the job - which may not necessarily compare with your aspirations - if you can sell 80% of your time you are above average.
If you cannot put a time frame on your own work then you are definitely not ready. If you quote a fixed price then make sure the deliverables are clearly defined. Do not embark on % fees just yet.
Is it important to clients to have a PSP or CCE certification? I’m not yet eligible to take the exams.
Not necessarily - succesful track record is the key.
For the gaps in my understanding of planning, what are other good resources, outside of PP, to turn to?
There are many books on planning that tell you what to do but none that tell you HOW to do it. Learn by experience.
I would suggest that you ask your current consultancy if you can go freelance within their organisation - in this way you can build up a track record in your own right over the next year or so.
Member for
19 years 10 monthsHi JoeWelcome to Planning
Hi Joe
Welcome to Planning Planet.
Here is some general advice:
You do not seem to have sufficient experience to have built up a succesful track record to start purely on you own.
However the immediate things to do are:
1. Set up a limited company (JR Consulting Ltd) and engage a sharp accountant.
2. Invest in at least the following software packages - Microsoft Office Professional - Adobe PDF - Asta Power Project - P6 - Microsoft Project.
3. Set up a website for JR Consulting
4. Join linked in and pay for the premium package - get involved in relevant group discussions.
5. Take into account that you will be responsible for the all the staff members perks.
Be aware that when you go freelance it is very difficult to get back in employment as a permanent staff member.
More particular advice:
I would suggest that you ask your current consultancy if you can go freelance within their organisation - in this way you can build up a track record in your own right over the next year or so.
Best regards
Mike Testro