Tag: consultant

Start a consulting business – Fred’s story

Fred consulting paperwork to start his home business

Fred consulting paperwork to start his home business

What do you need to do when starting a home business as a consultant?    The continuing story of Fred, the home based business consultant.

Fred had made the decision to work from home as a consultant rather than an employee. He had talked to his employer who was agreeable to them starting a new relationship with Fred as a part-time consultant.

For Fred to be an independent consultant, some of the things he would need to do are :

  1. Set up a home office space and office equipment
  2. Define a business name for his company
  3. Decide on the type of business as to whether he wanted to be a sole proprietorship or have an independent limited company
  4. Apply for a business number with the government so he could remit his taxes and fullfill any other government requirements when running your own business
  5. Apply for a business licence from his town or municipality so that he can run a business from his home.
  6. Sign a contract with his client (his previous employer) defining his responsibilities and his hourly rate for his services
  7. Make sure that the relationship between him and the client  was clearly defined in the contract including:
  • The defined hours of work he would be available in his home office for communications
  • The number of hours he might be required to spend in the client office during the week
  • The  other expectations of work involved activities such as meetings or required paperwork
  • The easy access to the intranet system for email conversation and collaboration and review of documents

Fred made sure he went to see a lawyer to see what should be in his standard contract to define his and his client’s role and responsibilities in this new relationship.

Fred went to see his accountant to review all the government rules and regulations he would have to fulfill as a a self employed business.

Fred also went on the internet and checked his federal government website on how to start a home business as the brochure listed the steps clearly on what regulations he had to follow whether it was:

1. United States of America 

2. Canada 

3. Great Britain

4. Australia

All the governments have very good step by step guides on starting up a home business so check them out!

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Life as a consultant – Fred’s Story Part 2

Fred 's consulting business is running smoothly!

Fred ‘s consulting business is running smoothly!

Fred had been working as a sub-consultant for his previous company for about six months when he had a look at his money coming in versus his expenses for his business.

His time spent working at home was more productive. He was spending about five hours a day in his home office available for his client working on projects. Since he wasn’t spending two hours commuting to work each day and he didn’t have to spend non-productive time in watercooler chat and meetings , he got more work done than when he worked in the company!

He did have home office expenses including internet connection, computer, phone and office supplies. However, he was able to do his work by a connection to the company intranet designing and collaborating on projects with the company actually covering costs of production and office correspondence.

Once he calculated a yearly budget for hours spent as a consultant and took away his home office expenses and taxes, he realized he would need to bring on more work to maintain his previous lifestyle. So, he decided to market his services as a consultant to other companies since he had some available hours during the day to do more work.

He found more consulting work through his contacts in his previous job. He set up his own intranet system in the Cloud where he could set up private consulting areas for each of his new clients. He increased the money coming in without increasing his expenses. He increased his productivity using systems for his communication, time and reduced his expenses by setting up a virtual office for his clients.

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