Congratulations! After months of worrying, making lists of pros and cons, and asking your colleagues and friends for advice, you finally took the decision and got out of the rat race. We welcome you to your new life: one of freedom, controlling your schedule, and having the opportunity to have an open mind to explore what you really want to do in your life. do not consider freelancing a suitable long-term goal but use it as a means to an end. Here are our members' top four "means."
1. Cut yourself some financial slack
Although strategic consulting and M&A jobs pay well, most consultants with 5-6 years of work experience do not have a solid financial cushion. For this reason, many of us are dedicated to creating that cushion in their first six months of being independent. For example, suppose you work 4.5 days a week, at €1.200 per day for six months (26 weeks), with a tax rate of 40% and a monthly burn rate of €3.500. In this case, after six months, you will be able to accumulate a cushion of about €63.000. Not bad.
2. Only do the projects that you want
After creating a solid financial cushion, you can become more demanding. You can determine what kind of projects you want to do at which terms. For example: in case you like sustainability, digitalization, or helping NGOs, you can decide to do only these types of projects. Or, you decide to work three days a week (earning enough or even more than you need to cover your expenses) while exploring other opportunities. For example, creating a startup or spending a few days doing volunteer work. You now have all the freedom to decide what your schedule looks like.
3. Greate the mindspace to explore what's next
Finally, dedicate yourself to exploring what you want to do. You have to take advantage of the fact that you are no longer in a (more than) 9-5 tunnel and have the time and freedom to decide the next step you want to take.
4. Work remotely
In recent years, remote working has become the norm. As the pool of talented people in the labor market has become smaller and smaller, the number of clients willing to hire remotely increased. Many of our members have adapted to this modality. For example, they have moved permanently to countries such as Dubai, Kenya, South Africa, Portugal, France, or the United States to work remotely. Other members have chosen to go on a workcation, alone or with their loved ones. If you decide to opt for remote working, make sure to tell your client, work in a convenient timezone and get yourself a comfortable place to work.
We recommend that you use your time wisely: go for coffees with exciting people, validate your startup idea, pursue other passions like kitesurfing, music or teaching yoga, do other activities, or do nothing at all for a while. Now is the time to explore what you want to do.