How to make the jump from full-time to contractor

So, you’re considering a career change and the perks of contracting have caught your attention? Before you make the jump, there are a few factors to take into consideration – especially if you’ve never worked for yourself before! Carry on reading for our top tips…

What core skills do I need to be a successful contractor? 

• Strong time management 

While working for yourself offers certain freedoms, it does also mean you need to be on the ball when it comes to time management. If self-discipline isn’t your strong suit then freelancing probably isn’t for you. This is because clients are usually less involved than a manager would be, so it is up to you to structure your projects and meet deadlines. 

• Independence 

One of the main perks of being a contractor is the independence it provides. However, like all good things, it comes with a price – no team to lean on. Yes, you will meet lots of new people and work as part of different teams but ultimately, you are responsible for yourself. 

• Confidence 

Being confident will take you far when it comes to contract work – for example, in interviews and when setting pay rates. You will also be working with a variety of clients so you must have strong interpersonal skills, such as strong communication. 

I’ve decided I want to make the jump – what are the next steps? 

Deciding to follow a new career path is always an exciting and significant moment – but it can also feel quite daunting too. To help you out, we’ve made a tick list of some things you will need to do in the transition period between leaving your full-time role and working as a contractor:

• Get lots of interviews lined up 

The world of contracting moves fast, so make sure you’re ahead of the competition! We’d recommend applying for contract roles before handing in your notice so that you can sit comfortably in the fact that your first gig is already lined up. 

• Decide if you want to work with an umbrella company or set up your own limited company 

We’re biased but working with an umbrella company takes away a lot of the admin that comes with running your own business (e.g. working out tax). Check out our blog written for contracting newbies here. 

• Start networking

Update your LinkedIn, and start adding like-minded individuals in your sector! Networking is ultra important when it comes to contract work as the more people you know, the more opportunities will land on your doorstep. Plus, it’s always useful to have a few friendly faces to reach out to when you need industry-specific advice. 

Good luck on your contracting journey! If you’re looking for an umbrella provider, remember that Mint is Professional Passport approved. Just give us a call on 0203 967 6846 to get started.