Career Alternatives/Consulting

2025 09 22 13 22 16

 

Many job seekers consider career alternatives when their job search gets lengthy. 

These range from starting a side gig to keep skills fresh to launching a full-fledged entrepreneurial venture. 

While our program focuses on job search, we also offer tools and resources to help you explore this new path. 

 

Assess Your Readiness

Frustrated job seekers often consider entrepreneurship, including freelancing and contracting, but it is a challenging path. This simple online quiz will help you reflect on whether you possess the necessary personality traits to launch a successful business. 

  • Do you have in-demand expertise? What unique skills or knowledge do you possess that businesses are willing to pay for? Your consulting practice will be built on the value you provide, so identify your niche. What problems can you solve? For what customers? Your niche doesn't have to be unique, but you'll want to put your personal spin on it.
  • Are you a self-starter? Without a boss to hold you accountable, you'll need to be highly disciplined and motivated. You are responsible for everything from finding clients to managing your finances.
  • Can you handle uncertainty? The income in a consulting career can fluctuate, especially in the beginning. If you are considering consulting as a job replacement, are you comfortable with an irregular paycheck and the need to constantly seek new opportunities?
  • Are you excited to learn about the many facets of running a business? You'll need to explore marketing, project management, and possibly graphic design tools like Canva. It can be fun and stimulating, but understand that there is a lot to learn.
  • Are you OK being on your own for much of the day? Consulting and solopreneurship can be lonely unless you are intentional about seeking human interaction.

 

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Consider Your Offering and Branding

Before you can attract clients, you need to know exactly what you're selling and how you're going to present it. This is about defining your unique value and building a brand that inspires trust. Before you get too far down this path, make sure you are very clear about this.

Define Your Offering

Don't try to be everything to everyone. The most successful consultants are specialists, not generalists. Think about what specific problems you solve, and for what type of organization. For example, instead of offering "marketing services," you could specialize in "social media strategy for small businesses" or "SEO for e-commerce stores." A focused niche makes it easier to position yourself as an expert and command higher rates.

Consider your Unique Selling Proposition (USP): What makes you different from other consultants in your field? It could be your extensive experience, your expertise in a unique skill, or your knowledge of a specific industry.

Craft Your Brand Identity

Your brand is more than just a logo; it's the reputation you build and the feeling clients get when they interact with you. 

To start, think about:

  • Your Mission and Values: What are you passionate about? What principles will guide your work?
  • Your Target Audience: Who do you want to work with? Understanding their needs, challenges, and goals is crucial for creating a compelling message.
  • Your Pricing: Research the going rates for consultants in your field. Your pricing should reflect your experience, the value you provide, and the complexity of the projects you take on. If you are a premium (higher-priced) offering, your branding will need to reflect that.
  • Your Voice and Style: Are you extremely professional, or more light-hearted? This will be driven by your target customers and your personality, and will inform your choice of colors, fonts, and writing style. 

A full-fledged "brand identity" is not essential in the beginning, but it's helpful to think about it now so that you can set the right tone in your initial communications. 

 

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Plan Your Business Structure and Finances

Pick a Business Structure

  • When deciding on a business structure, options include a sole proprietorship (simple, with no legal separation between you and the business), a Limited Liability Company (LLC) (which separates personal and business liability), or a partnership (for two or more owners). Setting up an LLC is relatively easy through the Oregon Secretary of State.

Make a Financial Plan

  • Create a robust budget. Map out your personal expenses and determine how much you need to earn to cover them. This will help you set realistic goals for your consulting business.
  • Build a financial cushion. If you aim to transition into consulting full-time, save at least six months' worth of living expenses. This emergency fund will provide a safety net, especially during the initial phase when you may not have a steady stream of income.
  • Understand your tax and healthcare obligations. As a self-employed individual, you are responsible for paying estimated quarterly taxes and may need to acquire health insurance privately. Understand your obligations and set aside the necessary funds as your income comes in. See the calculator below for help with this.
  • Factor in business expenses. Starting a practice involves costs such as fees for setting up your business entity, website hosting, marketing materials, and necessary software. Even as a side gig, it's important to track these. Most of these should be deductible business expenses. 

Prepare to Pay for Liability Insurance

Insurance is often required for:

  • Risk mitigation: Contractors operate as separate entities and are not covered under the employer’s corporate insurance policy, so companies require contractors to have their own insurance to offset liability risks.

  • Contractual obligation: Many corporate contracts specify minimum insurance coverage limits, and contractors must provide proof of coverage before starting work.

  • Industry standard: Insurance requirements are especially prevalent in industries with higher litigation or financial risk potential.

Who pays:

  • Contractor pays: The independent contractor is typically responsible for sourcing and paying for liability insurance as part of doing business independently.

  • Not covered by corporation: These costs are generally not reimbursed by the corporation, unless explicitly stated in the contract.

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Launch Your Business

  • Activate your network: Your professional network is your most valuable asset. Connect with former colleagues, industry peers, and potential clients. Many consulting gigs are secured through referrals.
  • Establish your online presence: Create a professional website and a LinkedIn profile that showcase your expertise, client testimonials, and case studies. You can also explore a LinkedIn company page or service offerings. This serves as your digital business card and helps build credibility.
    • See below for a document about how to manage your LinkedIn profile to seek both consulting and full-time employment.
  • Explore consulting platforms to find your initial clients: You won't make as much money, but this is where companies post opportunities and/or look for help. Review the list of platforms to consider in the Tools and Resources section. New platforms launch regularly, so research other alternatives too.

 

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Resources and Tools to Help

Documents

Websites

Networking and Learning

  • EO Portland: Run by entrepreneurs for entrepreneurs. Global; over 120 members in the Portland chapter.

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