In the last few months, many people have asked me and been curious about my experience on the transition from many years working in blue-chip companies to launching myself into a freelance, independent career as a Consultant & Executive Coach. Questions typically go around the development of business and coping with peaks and valleys of work, although I have also spent many hours with people exploring other connected topics that are as relevant as those mentioned before.
My experience, so far, has been much better than I have anticipated with many learnings down the journey and the balance is certainly more than positive. I have been always as busy as I wanted doing the things that I enjoy the most in business and in life. I have not experienced (yet) the valleys and I am selecting those projects that make sense because of the subject, the company or the people involved.
However, I don’t think freelancing is for everyone. Having worked in a recognized corporation for many years and having moved through the ranks touching many different topics and situations is not enough for what it takes to be a successful freelancer. There are many competences required that belong to more junior roles and there is the need to be fit enough to take them on-board as they become an essential complement of the value you bring as a Consultant.
Frequently on big corporations, as Executives develop their careers, they let go of some key skills that were essential at the beginning of the journey to take them to the top but are not required anymore to be successful at that level. They have now other people supporting them with the more operational aspects of the business. Also, the longer the tenure the more likely it is that you become well-recognized within the company and stakeholders might feed back to you how great you are, and of course the PMP evaluations and the bonuses are the proof and test of it.
Many people get easily confused by this corporate title/role myopia and end up believing their worth and the value they provide is much higher than it actually is. In many cases, it’s true, there is significant value, but only applied to a context; that corporation and its business. The problem is the moment something happens (it always does), and they are released from their positions; they don’t know what to do next and freelancing and entrepreneurship looks like the easy bridge to cross to the other side. And the thing is, it’s not a walk in the park and you really need to be prepared for it.
For a successful freelance Consultant career, first of all, I believe you need to have been a Consultant in the past; you need to be able to do your own PowerPoint decks, run your workshops, do reports, follow-up with people and so on. You also need to be able to work at C-level on the discussions and the next minute you need to be able to synthesize and structure and do the actual work. This is where most people find it challenging as the specialization and slack created by corporations generates a model by which the competences senior executives develop and put into practice when they lead big teams are not enough for what is required as a post-Executive freelancing journey. The more years you’ve stayed on the same company, the harder it becomes to make the shift.
The good news is that this could be managed and fixed before you make such a bold move. There are strategies that could be followed through awareness of what you will need a few years down the line: competences (process & content, awareness of quality, attitude, service, ethics and curiosity), relationships and cash among many others.
Freelancing is great but not for everyone as entrepreneurship is great, but people fall in the trap of believing anyone can make it happen. There’s no such thing as a free lunch, as Milton Friedman used to frequently say. If you feel I can help you navigate these changes do not hesitate to drop me a line at gabsmorelli@gmail.com or visit www.gabrielmorelli.com.