Do You Work For A Management and Consulting Company? Here Are 3 Reasons Why You Could Make More Money By Going Solo

The role of a management and consulting company can be a powerful aid to businesses looking to streamline the way they operate. It’s a type of work that requires a unique set of skills and a mindset that’s always focused on improvement.

At Career Navig8r, that’s a mindset we also strive to embody as we work to create a space where skilled and talented people can develop themselves either by sharing the benefit of their experience with others or by learning directly from a Mentor. Put simply, we’re all about empowering people to make the most of their career, whether that’s with a company or by striking out on their own.

In this article, we’d like to explore three reasons why we think you could make more money going solo as well as our number one tip for starting your freelance career.

1. You Can Streamline Your Workflow

As anyone who’s had the job of pulling together an unruly team will know, making order out of chaos is no easy feat. As a company grows larger and takes on more staff, communication becomes a serious challenge and inefficiencies begin to creep in all over the place.

This is just as true for management and consulting companies as it is for everyone else and the solution is much the same: reorder, restructure, and revise your system until you have something that works for everyone.

Of course, you can’t get much more streamlined than one person and while that can mean reducing the scope of your operation, a smaller scope is always easier to manage.

2. It’s Easier Than Ever to Make More with Less

Working on your own can come with its challenges but, when it comes to management consulting, we feel the benefits far outweigh the downsides. This is in large part because management consulting is far more reliant on raw experience than most job roles.

When you take on a new client there’s obviously a great deal of work that goes into assessing their needs and working with them to design a more effective path forwards. That being said, most companies operate along similar principles and the more solutions you’ve designed, the easier the process becomes.

Over time you develop a professional feel for these things, building strong instincts on a foundation of solid principles. The better those instincts, the more efficient your work becomes.

Now we come to the part that makes all the difference: online/remote working. In years gone by, there was a necessity for management and consulting companies to have larger staff numbers but as remote working has led to increased efficiency it’s now possible for an individual person to wear more hats – assuming they have the right skills, that is.

With just a laptop and an internet connection you can put yourself out online, market to clients, manage your interactions, and ultimately help them to steer their company in the right direction, all without leaving your home.

All that being said, there is another way to make money as a private management consultant – one that’s only just finding its moment in the spotlight.

3. You Can Mentor The Next Generation

There’s no true replacement for years of experience but mentoring is the next best thing!

In 2024, there are plenty of people who are ready and willing to learn all the ins and outs of management consultancy. Some may be entrepreneurs looking for ways to run their own businesses more effectively, while others will be looking for a job role much like your own, either as a freelancer or with a management and consulting company.

By becoming a Mentor you can take those instincts you’ve developed over years of working in the industry and compress them down into valuable life lessons. You can advise people on the job and help to direct them towards the more effective, principled approach that you’ve learned over time.

At the end of the day, the longer you spend working in an industry the more valuable you become. If you want to take full advantage of that value, then the best thing you can do is find a place where people can pay you directly for the benefit of your knowledge. You’ll be able to set your own rates and take on as much or as little work as you decide. All the power is in your hands.

Now’s the time to start your solo career! Transform your knowledge into a brand new income source while working to encourage the next generation by signing up to Career Navig8r today!