I’m seriously considering leaving consulting to go freelance. I like the idea of choosing my projects, setting my rates, but the thought of losing steady income, health insurance, and PTO is terrifying. I’ve got about 6 months of savings, a few warm leads. How do you know when it’s actually the right time to take the leap versus just being burned out and romanticizing independence?

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I’d get setup before jumping ship. What I mean by that is, have your software licenses setup, have your taxes inline, health coverage setup, have a developed pipeline of potential clients. And, at least two clients signed on.

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This. I left BCG over a year ago with 2 major clients signed up. Haven't looked back since.

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Get everything setup, line up some clients, do part time work. Long story short, test out the idea and gather the data to see if its an option.

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Also, think through project duration. I usually make sure I’ve already started another for overlap as my current project(s) are winding down.

How do you get started in parallel with your solo business without breaching the existing contract, no compete etc?

Previous message - how do you freelance on the side and bypass the contract, moonlighting rules?

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