With an ambition to maximize both fulfillment and finances, I decided to take a leap of faith; switching from the private equity sector into freelance consulting. The move has paid off more than expected – not only am I enjoying greater job satisfaction but have also managed to double my income despite halving my working hours! Here’s how it all happened…
After over a decade of experience in the corporate world, I realized it was time to go out on my own and use my specialized skillset. My passion for financial modeling brought me to middle-market private equity where there appeared an untapped opportunity, so decided that would be the ideal client base with whom I could provide part-time assistance.
When the pandemic struck, my prospects of building a business halted and with it the promise to provide for my family.
Additionally, as an essential worker in healthcare, I watched helplessly as my wife returned to full-time work while I stayed home with our children. The transition from professional life into parenting was one met by initial confusion but also joy at newfound freedom; every day provided opportunities for walks outdoors, quality time spent playing games together or enjoying books indoors – all amidst preparation of balanced meals and busy afternoon activities!
Parenting is an incredibly demanding and exhausting task, but one that reaps immense rewards.
Despite this knowledge, there remains a false perception that stay-at-home parents have it easy – nothing could be further from the truth! Such responsibility requires boundless motivation and unconditional love in order to guarantee its success; however hard work parenting may be, it certainly beats receiving late night emails asking for help with technical issues!
When my consulting pipeline stalled.
I decided to forge a new path as an entrepreneur and create an online course teaching newer professionals the invaluable skill of building financial models for private-equity transactions. Taking advantage of screen-recording software and recording from home meant having extra help with childcare – luckily Grandma was visiting at just the right time!
With the onset of Covid-19 in spring 2020, I was determined to make constructive use out of my newfound free time.
Waking up at 5 a.m., I began diligently working on completing self-study for an online course “Financial Modeling for Private Equity”. After successfully finishing it and posting about this accomplishment online, individuals reached out with positive feedback regarding its content – much to my delight!
After proactively connecting with several contacts in my professional network
I was able to secure a few clients and leverage an online course as proof of competence. Juggling multiple projects while taking care of children at home proved challenging; however, by optimizing my schedule based on alternating periods between work and parenting duties when necessary, the flexibility that came from working for myself enabled me to successfully manage both commitments.
For me, one of the most game-changing habits has been waking up early.
Not for hustling purposes or anything like that – it’s just a time when I can focus and be productive without any distractions. This two hour window allows me to get ahead on work before anyone else is awake, freeing up my day from then onwards so I don’t have to stress about an immediate response being required if somebody emails back late in the afternoon. Through this approach, I’ve discovered you don’t necessarily need long hours at your desk each day in order achieve success; spending four to six focused hours reaps more rewards than many people assume!
Last year, after leaving a demanding corporate job with six-figure salary, I achieved greater success in my business. My income increased by 43%, even while working significantly fewer hours – an average of only 20 to 25 every week compared to the 50 hour weeks at my former role.
Although having a strong preexisting network is extremely beneficial, it can only take you so far.
For those seeking to be self-employed and build their own personal brand, this requires taking initiative into your own hands – something which may not come naturally for everyone; particularly introverts who are unaccustomed to ‘selling’. However, investing in yourself and building connections that will help advance the growth of your career should never underestimated or overlooked.
Professionals looking to expand their digital presence should consider creating content and networking on LinkedIn. Here, decision-makers are easily accessible – plus it offers a more professional atmosphere than traditional social media networks. An even better way of boosting your online profile is by starting up a website or blog; although this requires gaining some knowledge about Search Engine Optimization for effective growth in the long run. All said, helpful contributions made through quality posts that others can benefit from will always be appreciated and followed suit!
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