Consultant After Retiring?

[pop pop]

I've got a few years to go but I've been thinking about what I might do for work and entertainment after I retire. During my time here, I've gathered that some of you are computer consultants, either full or part time. I've been considering something along those lines (what geek hasn't, right?). I'm just in the thinking and planning stage, but could you guys offer any suggestions on what to consider, do, how to proceed?

I'm currently employed full time as an engineer. I've worked on computers/electronics for about 25 years. As far as PC's go, I go back to the XT days and have broken, fixed, taken apart, put back together, configured, tweaked, and cleaned them (in every sense of the word). I would rate myself as advanced, maybe not quite expert--depending on the rating criteria you use. I'm not strong in networking, but I've learned a lot in the last year or so.

I've done some research and, based on what I've seen, the competition and profitability in custom building and sales would seem to be difficult--to say the least. Consultant would seem to be a better option.

Ideally, I would like to lay the groundwork and start this out part time to see how it goes. I've looked at creating a business plan. Would that really be necessary, at least in the early stages?

Any suggestions would be appreciated.

[saphalline]

No one has responded to this one yet?

Getting into consulting, huh? The first and most important thing I can tell you is that it's all about the people! The people you help, the people you work for, the people you meet and greet, wine and dine, whatever. Even though your job description may be about fixing or selling computers, it's the people you have to pay attention to! You probably already know this by being involved in the job market for so long, but it always bears repeating for those newbies out there! :D

Getting into consulting is very much like being your own business person. You have to network with people, do a bit of lobbying, dress nicely when not on a "house call", all that stuff. Then there's the other side of it which involves actually working. :p If you do a good job with both, you'll be remembered. Most of the time, pure geeks don't like to do things like shower everyday or get haircuts :D but consultants have to be a jack of all trades. Don't be afraid to blow your own horn, ask for recommendations (by word-of-mouth or in writing so you can use it on a flyer or something), pass out business cards, and otherwise fluff up your image. Knowing how to do your job quickly, efficiently, and correctly is only half the battle. To a certain extent, you will be hired on your merit; the rest will be you personally. People like to hire people, not machines. This is the attitude part of it.

As for creating a business plan, it's never too early!! But you have to be careful about this, too. Lots of new businesses fail at the planning stage. Lots of those who get past that fail within the first year, usually due to bad planning. :rolleyes: I advise you to take your time with the planning, but not too long. If you find yourself still "planning" after 6 months, then you haven't put nearly enough effort into it! And it will take a lot of effort. And you will have to spend some money up front, too. Don't be afraid to get some business cards printed up and start passing them out. Tell people about your new endeavor, and have a reliable method for them to get a hold of you. A phone with an answering machine/system is a requirement here. And then you have to remember to follow up with them. If you don't get back to most people within 24 hours, they'll forget you, or dismiss your services. Neither is what you want!

You'll also have to have a solid impression of what your consulting work will entail. And put it in writing for yourself. Then put it in simple terms for others. Make a catch-phrase or catch-line if you have to. Also, look into the legal implications of what you will be doing. Having a waiver form of some type (if required) isn't a bad idea. Yes, it can intimidate people. But if you present yourself in a professional manner and with full confidence, they usually won't think twice about NOT signing it. Especially if you've already built a rapport with them, in one way or another. Whether it was a friendly 5-minute phone call or a nice 2-hour lunch, people usually want to get along with you! They want you to be good at your job, and to solve their problems. In many cases, short of being rude, it's really difficult to make them not like you if you've made a good first impression.

Also think about what you will need to do your job. How much time? How will you charge people? By the hour? By the job? A combination? What tools will you need? Now, what tools with you really need? :p Whether it's a screwdriver to open a computer case or a piece of software to keep track of account info, you'll have to consider it. Also, on that tangent, get some info on how you will have to do the taxes for your consulting revenue. It can be a lot of work to keep track of the taxes by yourself, but you will save some money by doing it. On the other hand, if you're completely in the dark when it comes to filing taxes, maybe it's worth it to hire someone to do it right. And take a trip to the library, also, for some info on new business loans. Federal grants, state loans, tax breaks/exemptions - it's all worth looking into.

I realize this is mostly rambling, but consulting work is such a big topic! You will be getting into more than just working on computers. You will also be your entire business! You don't have to go big-time like a reality-TV entrepreneur, but you do have to be more than just a computer geek. If you set your mind to it, are serious about it, and just give it your all, you can easily be successful. It's just that the business end of it tends to be a bit more work than most people realize. Just some things to keep in mind...

[Cavalier90]

I read a good book on this topic. It was both funny and informative. It was called "From Serf to Surfer: Becoming a Network Consultant" by Matthew Strebe, ISBN 0782126618. Try to get it from your local library or read it online at www.books24x7.com. The company I work for have negotiated free access to this site for training purposes mainly, but there is plenty of other non-training type material available. I am not sure if there are any membership costs on this site. I'll try to find out. :)

WOW, forget the Books24x7 thing. It's about $400 per year per category! :eek:

[pop pop]

I was beginning to think nobody cared. :rolleyes: All good advice and thanks for it. I have taken quite a few preliminary steps -- checked on licensing, what type of legal entity, spoke with my accountant, came up with a name, and ordered business cards. There's much more to do.

It's not an overnight transition, I plan to plan and do it right. Thanks for the words of advice.