Pros:
1. You can make a good living consulting since business owners are willing to pay for your expertise.
2. You can specialize in an area that interests you, whether it’s marketing or finance.
3. As the sole decision-maker in your business, you can make decisions quickly and with minimal bureaucracy.
4. You have the opportunity to work with different clients and industries, so you’ll never get bored.
5. You also have more control over your own schedule than if you were employed by someone else.
Cons:
1. Starting a business consulting firm can be expensive. You’ll need to invest in technology, marketing materials, a website and other business essentials.
2. It’s important to stay up-to-date on industry trends and changes so you can offer relevant advice to your clients.
3. Getting new clients takes time and effort — you may have to invest in networking and advertising.
4. You may not have the support of a larger corporate structure, which can make it difficult to scale your business quickly.
5. It can be hard to establish yourself as an expert if you don’t have prior experience or credentials in the industry.
6. Being a consultant also means you’re responsible for your own taxes, paperwork and administrative tasks.