Ronald Kister, a fifteen-year information technology professional, works as an independent IT specialist. He knows that many experts join the field to enjoy the ability to deliver work remotely and control the amount and type of work they take on. Kister’s consultancy work has enabled him to manage and build client relationships, while also delivering programs and projects to a wide range of users.
Independent consultants, whether new or experienced, often go through common challenges. Some of these difficulties are explained below:
Setting a bill rate
You don’t want to set a very high rate, but neither do you want to go too low. So how do you get it just right?
There is a science and art to this. The science requires you understand that expenses, insurance costs, and profit margins all contribute to the rate. The art requires you to consider your skills, the economy, and the type of competition you’re up against. With these two aspects in mind, you can go about setting a billable rate that adequately compensates your efforts.
Do you do it all?
New consultants are sometimes guilty of this – trying to handle all duties and go after every new business they can handle. It’s important to maintain focus on your expertise and avoid distractions that can veer you off course. Doing this also helps you develop confidence.
As a consultant, you will negotiate and review contracts with different clients. Some of the provisions you need to keep an eye out for include non-compete clauses (which limit your ability to go after certain business in the future); warranty (necessary for physical products where it’s easy to determine fault); and indemnity (can effectively make you an insurance company for the client if written in broad language).
Ronald Kister has experience in providing professional computer training, system upgrades and support for companies in Long Island, New York.