Becoming self employed (IT contractor)

PGstudent

After graduating I have spent the last 7 years in IT. Got on quite well in my career but became bored and wanted a new challenge. I went back to grad school to do a masters in consultancy. I have been doing some tech consultancy on the side (free- as it is for a charity, been going well so far).

Anyway I'll be finished my masters in the new year and Im wondering should I go back to the corporate ladder or make the leap to self employment (contractor).

I have no experience of working for myself but have a few friends who did it and have pretty much said "I havent looked back since" but then they also say "its something I always knew I would do"

I am half minded- on the one hand Id love the challenge and experience of going it on my own but on the other Im not sure if Im being naive, is this the right time? Is there ever a right time?

What do people think? Any advice, personal experience?

duncanb

Go for it if you are really hungry for it.

Do not do it if success is all you are after.

Also you must take an interest in your business as a whole when your self employed...this eats time so be aware of that.

you will make no money for the starting years and it will take years for you to develop a strong clientel base....but dont let that turn you away.

what is an i.t contractor??? does that mean web designer?(i am a bit stupid)

stoneroses

." .....you will make no money for the starting years and it will take years for you to develop a strong clientel base....but dont let that turn you away.

....what is an i.t contractor??? does that mean web designer?(i am a bit stupid)"



How can you state the fact in line one above without knowing the answer to your question in line two ?

duncanb

stoneroses wrote: »

." .....you will make no money for the starting years and it will take years for you to develop a strong clientel base....but dont let that turn you away.

....what is an i.t contractor??? does that mean web designer?(i am a bit stupid)"



How can you state the fact in line one above without knowing the answer to your question in line two ?

I know what i am talking about when it comes to business.

but i was adding that i dont really know anything about I.T..and was asking what a i.t contractor was....sorry i shoulD have specified that i am a bit stupid WHEN IT COMES TO I.T.

PGstudent

duncanb wrote: »

Go for it if you are really hungry for it.

Do not do it if success is all you are after.

Also you must take an interest in your business as a whole when your self employed...this eats time so be aware of that.

you will make no money for the starting years and it will take years for you to develop a strong clientel base....but dont let that turn you away.

what is an i.t contractor??? does that mean web designer?(i am a bit stupid)

Sorry I should have explained this. As an IT contractor I would probably be mostly involved with advising companies in aspects of their IT. There is specialisation within IT so the work would probably be tailored to when a client is running a specific project. For example I am currently advising a client (I say client but Im not actually billing them as its volunteer work) on how to implement a CRM system. Some contracts might last a few months and you could possibly be running a couple of contracts at the same time (depending on time constraints.

As an IT contractor I would probably register with some recruitment agencies at first to source new contracts

duncanb

Go for it if it feels right.

At least its not like most self employment business' where you will be working alone.

I am sure there is good money in that consultancy sector.

Am i right in saying you would be synchronising their software and ceating MIS?

PGstudent

duncanb wrote: »

Go for it if it feels right.

At least its not like most self employment business' where you will be working alone.

I am sure there is good money in that consultancy sector.

Am i right in saying you would be synchronising their software and ceating MIS?

Kind of, theres a few specialist area's in IT. My background would probably be be mostly related to systems admin , which is kind of the jack of all trades of IT, network design and support, server admin, but I have worked on things like customer relationship management and have been an IT trainer.

duncanb

Goodluck anyway....

hope it goes well.