What is Freelance Consulting?
“2021 should be a year of growth for independent management consulting and other professional services platforms. Pandemic-induced cost controls, workforces regularly working remotely and a growing familiarity with freelancers will be important drivers.” — James Sandoval, MeasureMatch
Freelance consulting is the intersection of independence and corporate collaboration. From being hired to tackle a company’s problems and provide profitable solutions to strategizing a company’s next move or altering their operating processes for better productivity, the range of opportunities is the reason why freelance consulting is hitting the job market with full force.
Companies and executives worldwide are noticing the perks of freelance consulting more than ever before. “80% of top executives we surveyed expect constant or increasing demand for freelance consultants,” says David Kipper of Expertpowerhouse.
You might be wondering, how does freelance consulting work?
Every freelance consultant specializes in their own niche: An area of focus on which they can advise their clients. As a consultant, your niche will set you apart and help you attract the right clients. Here are some of the most in-demand niches currently:
- Operations consulting
- Financial consulting
- Human resources consulting
- Marketing consulting
- Risk and compliance consulting
- Strategy consulting
Finding your niche is easier than you think! Just follow this guide which gives you a comprehensive view into how to hone your niche, nail your pitch, and jumpstart your consulting business.
Benefits (The Good & Glory)
Being a freelance consultant brings you a worthy return on your investment. The average annual pay for a Freelance Business Consultant in the United States is $69,814 a year, which broken down is the equivalent of $1,343/week or $5,818/month. This number varies from niche to niche as well. IT consultants average around $62,161 per year, security consultants can average around $85,427, and Management consultants earn around $105,461 per year.
Apart from the pay, freelance consulting comes with many perks.
- Complete control of your professional journey with no limits
- Connecting with a larger client base, with no geographical restrictions. This allows for faster growth opportunities than any other full-time job
- Creating diverse learning opportunities for you to grow your interpersonal skills. The type of exposure freelance consulting gives you prepares you for a range of challenges.
This type of rewarding and balanced lifestyle has made positive impacts on people’s personal and professional lives. We spoke to Mylance Member and Strategic Brand Marketer, Rachel Schultz who shared with us:
“I chose to bet on myself and go out on my own 9 months ago in order to create a work culture that was worthy of my time and energy. I’ve been freelancing and consulting since October 2020, and ever since taking that leap, I’ve had the opportunity to choose what I work on and who I work for, which to me, means focusing on initiatives that drive positive social impact. I currently work with Cameo, aSweatLife, Prowess Project and Project Healthy Minds, and am so grateful to have had the opportunity to work with such amazing partners during my early journey. It’s hard to even articulate how much my mental health has improved since choosing this journey, but it’s been an incredibly positive experience! Being self-employed has provided me with a more balanced schedule, with the space and time needed for creativity, and has served as a reminder of the importance of connecting with others.”
Follow along here for the challenges that come with freelance consulting and how to get started!
