Reply to Help! Return to Work - am I looking for a unicorn?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Have you considered starting your own business, OP?[/quote]

Yes, although this option seems even more daunting.

When I was in my 20s, right out of grad school I did some freelance work. One example : a small venture capital company that was not incorporated as a nonprofit, but had a nonprofit like mission was kind of floundering, stalled and not sure what to do next.  I conducted a capital needs assessment and trend analysis of the local small business market, researched what other venture firms and NPO's were doing in the market and wrote/recommended a new business plan for them.  Other than meeting with the board chair at the beginning, and presenting to the board at the end, I did everything independently on my own schedule and it probably took me about 5 hours a week (I had a month to do it.) They paid me a flat $1,500 for the report.

If I could land gigs like this on a consistent basis I'd be in business.

[/quote]

This was 15-20 years ago, right? You probably won’t consistently get gigs like this at first, but do you know anyone (even your contacts in DC) who have work like this available? Get one gig, and use that reference to get a second, and a third, etc. Alternatively, what kind of volunteer work have you been doing? Can you start a business doing that kind of work? Use your current ED as a reference to get a first gig, etc, etc.[/quote]

I do this kind of consulting, and have slooooowly built up my work over the past year. (Left FT position last 12/31.) First client was a $500 day-long training session. Then a several-week project for about $1000. Then an ongoing per-diem client. Just scored my first $20k client.

It's possible. Hustle.[/quote]

NP, here.  I have similar situation as OP, but I am in a STEM field and haven't been out of the workforce as long.  I've thought about pursuing consulting, but since I am not a business person, I find myself stumped on the first step.  Before reaching out to one's network or pursuing gigs, is it best of form an LLC or small business?  Or is it best to just become a 1099 independent contractor and let the employer/client handle the business end?  What is your payment arrangement?  Do you need an attorney, or just an accountant?  Thanks!

[/quote]

I did side projects here & there for a couple years while working FT. Just did 1099 type stuff. When I knew I was going to jump ship and have receipts over $600, I created an LLC, webpage, FB page, etc., before I quit my FT job. [/quote]

Thanks![/quote]

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