Becoming a data consultant

It's a been almost six years since I started Datazed and it was something that Kate Tickner asked me about in our LinkedIn live session this week, part of Pyramid Analytics' Decision Intelligence Directors series. The recording is here.

Recent lay offs and redundancies mean that even those who are still in a job may be thinking about alternative plans, just in case their role is at risk, so here are some of my personal thoughts for you to consider.

Don't think about going solo if:

• You are relying on receiving a steady income each month, and don't have savings. Aim to have 6-9 months of living costs as cash (whether that includes crypto is another conversation entirely), so you can give it some time to get started. If you are a few months in and getting nowhere, then you have a window of time to find a job.

• You love being in the office, being part of a team with your colleagues and enjoying the socials. If you can commute to your clients' offices, then yes you can be in the office regularly, but you won't be part of the team and will never fully integrate with the full time colleagues.

• You don't like talking about yourself. You've given up the brand name which you worked for, so you are your brand now. You will have to persuade people that they need your services.

Be cautious about going solo if:

• You have no interest in the commercial side of business - whether that's sales, finance or legal. All of these can be outsourced, but that costs, and you still need to understand what is going on.

• You are job hunting and want to give it a go. On one hand, you have little to lose so you can try it out; on the other hand, it's hard to make it work if you are not fully committed.

• You need external validation that you are good at what you do. Even if you do an amazing job, the engagement may come to a natural end and not every client is willing or able to provide a testimonial. Imposter syndrome is a common challenge for independent consultants.

Consider going solo if:

• You have a dream about having your own business. You take all the risk, but you make all the decisions and can take all the reward.

• You want to get involved in activities outside of your day job - as a one person operation, everything is your responsibility! One way to think about this is to write an organisation chart for your new business - with you in every role.

• You enjoy meeting new people and getting into new environments. Every firm is different and this for me is one of the most interesting elements.

I had been thinking about becoming an independent consultant for several years before I finally took the plunge but each time, I had considered what was involved and decided that I wasn't ready for it.

The third time I properly looked into it, I felt the magic combination of excitement, enthusiasm and realism that means it was time to start.

Would this be a good subject for a webinar or online session? Are there other elements of having your own business which you want to know more about? Let me know by hitting reply.

Have a wonderful week,

Charles