Career as a freelance management consultant

[LionFlyer]

Would like to hear some advice if anyone has done freelance work as a consultant (yes, I know the term has plenty of negative connotations) before and what are the pros/cons. My target markets are overseas, so a question of currency exchange and payment terms is there too. The lack of a safety net is also another consideration. 

Was doing this for awhile (3 yrs) with a boutique consultancy firm; but had to part ways as the owners decided to take the firm to a different direction and dropped the consultancy biz. Back in the industry now, but felt mislead... (the job scope changed the first day joined the company).

[MeowKitty86]

While I am not in business management consultancy, I have known friend who is in business consultancy and is doing it on his own as well. I think the main difference between doing this while employed and doing this as freelance is the accountability and the network of contacts.

When you are under the firm, you have salary and you are servicing clients that are referred by your firm. It is a totally different ball game when you are freelancing. You have to build up your own contacts or re-engage those you have contacted before (if there is no anti-compete clause), and you need to draw up your own directions. The challenges in doing foreign market are not just about exchange rate or payment terms, but you also need to educate yourself on the regulations of doing business in foreign markets too, and what about foreign business cultures?

While Singapore market is smaller, i think you may want to look into building some experiences/ portfolio in local market before venturing overseas as your clients would very likely want to know your success stories when you are freelancing, not while you are under a firm.

Just my two cents.

All the best to your endeavors!!