Manage your Independent Contractor Career Like a Business

by Andrea Grabemeyer on December 18th, 2013

Nearly one in three working Americans is an independent worker. That’s 42 million people! Contract roles are also now the norm now in the IT field. In IT, 43% of jobs are outsourced contract jobs.

There are numerous benefits to being independent (vs. an employee) and just like any profession or career, Independents must devote time and resources to developing their business activities. You are a marketable consultant, your own business, and you should learn how to manage your career like a business.

First of all, you want to make sure you have marketing materials that are properly branded to make you stand out and look professional. You'll need business cards, a professional resume, and an online presence.

There are several ways to get inexpensive business cards printed that don't look cheap. Use the resume builder on TheProfessional.me to help with your resume. And for most contractors, LinkedIn is a great resource for your online presence because it is free and can serve as your online resume, references and business webpage. For others, you may want to start a simple website on WordPress or SquareSpace to host your portfolio and additional information.

However, there is a lot more to managing a business than marketing materials. You will need to learn how to read and negotiate a contract, withhold the correct amount of taxes for yourself, and track your finances like a business. Make sure to consider whether you need to purchase your own health insurance also. Do you need to keep track of mileage and meals? Maybe. Consult professionals and research software tools and applications that might be able to help you. There are a lot out there so choose wisely.

I've compiled some resources here for you to arm yourselves with some of the information you might need to be successful in this kind of career:

http://www.sba.gov/content/self-employed-independent-contractors

http://jobsearchtech.about.com/od/laborlaws/l/aa121800.htm

http://jobs.aol.com/articles/2011/06/21/you-need-to-know-before-you-sign-an-independent-contractor-agreement/

https://turbotax.intuit.com/tax-tools/tax-tips/Self-Employment-Taxes/Tax-Topics-for-Freelancers--Contractors--and-Consultants/INF12025.html

http://www.kdragonfly.com/gurus/get-set-up-contractor.php

As always, please consult a professional when you have questions about your taxes, any legal documents or rights, or financial planning.

This is the new world of work, so you have to be ready and take control.

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