Becoming Your Own Boss (BYOB, 3.1)

In the first and second articles of this series (BYOB, 1.0 and 1.1) you learned some of the facts related to the current employment picture and examined some of the choices that were available to you. In the third, fourth, and fifth articles of this series (BYOB, 2.0, 2.1, and 2.2) you answered some key question to find if starting as an independent contractor was a good idea for you.

This set of articles (BYOB, 3.x) covers a number of topics that will make it more likely that you will succeed as an independent contractor. The last article covered the tax implications and the need for a contingency fund as an independent contractor.

If one of your primary reasons for considering independent contractor status at this time is that conditions in your present position are unsatisfactory, use extreme caution in the method by which you sever the relationship. Do not, under any circumstances criticize the company or any staff members. As a would-be contractor, you cannot afford to have your present employer displeased with you. There is a very good possibility that, at some later date, a prospective client will call your present employer for a recommendation. You must leave with the understanding that you are a respected member of the team who is leaving to seek other challenges. Also, see the next paragraph.

Your Current Employer Might Be Your Best Source Of Contracts

The best way to get started as an independent contractor is either to secure a contract from your present employer before you leave, or to leave with an understanding that a contract will be forthcoming. After all, assuming that you are leaving under good conditions and that you have not done anything to poison the well, the people there know you and know that you can and do get the job done. Your task is to point out convincingly that contracting for your services is both cost-effective and efficient.

If your employer is likely to be going through a layoff in the near future, you might be able provide a favor, and also secure your first contract. Most managers lay people off very reluctantly and only after many other options have been exhausted. By volunteering for the layoff, you can make your manager look good to upper management and also relieve him or her of the trauma of actually laying off a valued department member. His or her gratitude might result in a contract for you, either immediately, or when the situation turns around.

Even if a contract is not immediately forthcoming, you will likely get a generous severance package and you will also be out selling your services before other laid off employees are ready to compete for contracts. It is possible that you might know of or suspect an imminent layoff. There might be additional things on which you can capitalize in a layoff situation. It might even be to your benefit to volunteer for a layoff. The following benefits are often provided to laid off employees:

1. It can bring you a possibly extensive termination settlement.

2. If there are only a few contracts available in your geographic area, you would be able to approach prospective clients earlier than still-employed co-workers who might have similar ideas.

3. Your employer might be so appreciative at having one less employee to give the bad news that you can quickly secure a contract with the firm.

Also, if you were one of those who produced significant amounts of work in your department or specialty, it might be that the job does not get done well without you. This might further enhance the chance of quickly securing a contract.

You Can't Have Too Many Friends, But One Enemy Might Be Too Many

To the independent contractor, reputation is everything. Yours must be spotless with your present employer, with previous employers, and with others with whom you have had professional contact. Attempt to repair anything that could be damaging to your reputation, including anything untoward that occurred during the last five years. If there are differences with others, smooth over as many as you can. Don't go overboard with the idea, but a simple apology, even if the problem was not completely your fault, often works wonders. You will probably increase in perceived stature, particularly if the person understands that the problem was not completely your fault.

Repair all damage before you make it known that you intend to leave regular employment. If you wait until after you have given notice that you are leaving, it will appear self-serving and insincere.

The next article in this series (BYOB, 3.2) addresses the important topic of the office space needs one might have as an independent contractor.

To read the rest of the series click here