What do you do if you're torn between becoming self-employed or working as a consultant?

Consider the benefits of self-employment. Working for yourself allows full control over your work, schedule, clients, and income. You can pursue passion projects, set goals, and build your brand. Additionally, self-employment offers tax deductions, lower overhead costs, and opportunities for personal growth and learning.

In my view, Self-employment offers autonomy, flexibility, and potential for higher earnings. You have full control over your work and can pursue your passions.

If you're torn between becoming self-employed or working as a consultant, it's essential to consider your strengths, preferences, and long-term goals. Reflect on whether you prefer the independence and responsibility of self-employment or the variety and flexibility of consulting. Evaluate your skills, risk tolerance, and financial stability. Research both options thoroughly, seek advice from experienced professionals, and weigh the pros and cons of each path. Ultimately, trust your instincts and choose the path that aligns best with your values and aspirations. Remember, both self-employment and consulting offer unique opportunities for growth and success.

Weigh your priorities: freedom vs. stability, income needs, and desired benefits. Choose the path that best aligns with your goals! - Self-employment offers full autonomy but requires finding clients. - Consulting provides project-based work with established clients, but less control. - Self-employment income can fluctuate while consulting often offers steady rates. - Consultants may have benefits, while self-employed typically don't.

This is such a personal decision that needs to be made based on your goals and your finances. The AI-generated advice says that you have "full control" by being self-employed, but that's wishful thinking by a computer. In reality, self-employed people have no control of market fluctuations that control their ability to get clients. Nor do they have control over life itself; if you or a family member are ill and you can't work, you have no income for that period. This may or may not be true for consultants depending on how their contract is written.

From my experience I can say that Self-employment can be unpredictable, lacking stability in income and benefits, and may require more administrative tasks and financial responsibilities.

Being Self Employed, Here are two great things about what I've learned: Autonomy: I love being my own boss. I get to make all the decisions and go my own way. Flexibility: Being self-employed lets me choose when I work. I can manage my time how I want, making it easier to balance work and life.

Self-employment Drawbacks: Face uncertainty, competition, and the need for client acquisition and retention. Manage all administrative tasks, cover your insurance and retirement, and deal with potential isolation and burnout. Comply with legal requirements.

Here's one benefit to consulting that no one talks about. If you are a baby boomer, you'll likely have a hard time getting hired as a FTE because - as one millennial manager told me, "no one wants to work with mom or dad." Ouch. But come to a millennial or GenZ populated company as a consultant, and you're Yoda.

Consulting Benefits: Offer expertise as an independent contractor or firm member, leveraging skills to solve problems, enhance performance, or drive change. Benefit from access to more resources, support, training, and a varied work environment.

Consulting Drawbacks: Navigate different work cultures and expectations, complex projects, and ethical dilemmas. Manage stakeholder relationships, balance quality with deliverables, endure travel and pressure, and face internal and external competition.

How to Choose: Reflect on your motivations, values, strengths, interests, financial and lifestyle needs, market opportunities, and the risks involved. Align your choice with your personal and professional goals for a satisfying career path.

How to Prepare: Research, plan, and network. Update your resume and online profiles, set rates and terms, market your services, and negotiate contracts. Manage your time, finances, and stress effectively to transition smoothly.

You can do BOTH! In today's job market, there can be real value in both consulting/contracting with an agency in a more part-time capacity, while also having your own direct, self-employment clients.

Additional Considerations: Consider the impact of technology on your work, the importance of building a strong personal brand, and the value of continuous learning and adaptability. Reflect on how each path aligns with long-term career aspirations and personal fulfillment.