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Thinking of starting a consulting job? There are countless types of consulting roles in dozens of different industries. With the right skills and experience, you could be well on your way to becoming a consultant.

Whether it’s a full-time job or a side hustle that generates some extra cash, a consulting business can be a gratifying and lucrative job. It allows you to:

    Be your own boss
    Target an industry you’re passionate about (and have experience in)
    Keep things interesting by tackling diverse challenges

We’ll go a little more into the pros and cons of starting your own consulting business below. First, let’s identify what consultants do and why they’re important.
What is consulting?

Consultants specialize in helping clients resolve their company’s most urgent problems, issues, or projects. They work across a huge range of roles and industries and share their gift of analyzing information and identifying the best path for each company to take.

Consultants tend to be individuals with at least a few years of experience under their belts in a particular field or focus. They sell this insight as consulting services to other companies.

Consultant can work on a project-by-project basis or for months or years as a contractor. Consultants can also have as many clients as they have the capacity for.  
What are the pros and cons of becoming a consultant?

Like any career, consultant jobs come with highs and lows. Every business you work with will provide you with different, and often contrasting, experiences.
The pros of a consulting business

    It’s challenging and rewarding: If you start a consulting business, every day may throw new challenges your way. These challenges pay off, with rewarding experiences in dragging a business out of a slump and setting it up for the future. Plus, the success you have with each project contributes directly to your personal brand.

    It’s fast-paced and you get a sense of freedom: Consultants are often hired in desperate times to rectify a serious situation. The consulting industry is fast-paced and perfect for someone who enjoys a challenge, and a sense of freedom.

    You’ll be constantly learning: Business consultants are experts in their field. They must always be learning and adapting to  industry trends. This enables them to help businesses (including themselves) to stay ahead of their competitors.

The cons of a consulting business

    Income instability: There is a certain air of instability when working as a consultant. You never really know when or where your consulting service is going to be required next.
    There’s constant change: You might be required to uproot and move across states, or travel across the country to suit clients. You may also need to consistently drive to different locations to work with clients directly.

Weighing the pros and cons allows you to understand if being an independent consultant is best for you. Building a profitable consulting business is hard work, so if you’re not sure, try it out as a side hustle first! As long as you have the right processes and systems in place, like a CRM for consultants, it’s easier to grow and scale.