You also can check around to see what other people are charging for the type of work you do. Don t make the mistake of merely dividing your most recent annual income from salary and or wages by the number of working days in a year. Having dealt with these threshold issues, if the idea of consulting still has appeal, now would be a good time for you to sit down with your accountant or tax advisor. Make sure you understand all the consequences of your new employment status with respect to taxes and planning for retirement. Even after you have decided what you are going to do and know why people will want you to do it for them, you will need a develop a good marketing plan.
Successful consultants approach the market differently than their less successful counterparts.
A good marketing plan does not have to be expensive. Finally a word of caution. As a consultant in today s workplace, you must be sensitive to the potential threat you pose to the careers of full-time employees who often already are paranoid about potential downsizings. Working relationships are much more tenuous as an consultant than as an employee. A consultant can be sabotaged very easily by employees who feel their jobs are in jeopardy.