Questions to consider before (and while) you freelance

I am often asked how to get started building your own consultancy. There are many articles online that claim to provide the ultimate top five steps to take. They are helpful, but not nearly as thorough as they should be. The scope of what should be considered is usually limited. Most of them focus only on the business aspects and do not cover the other challenges you'll face throughout your journey.

I created this list a few years ago for a conference. Although I am eight years into my consultancy career, many of these questions are still unanswered. It's a good list to review before you leap, but it's also worth revisiting after the jump, especially during those times when find yourself thinking, "Now, why did I do this again?"

I've divided the questions into three categories: business, work, and life.

The Business

1. What is my business? Why does it exist?
2. How would I describe my business to a potential client?
3. How do my services match my potential client’s needs?
4. What distinguishes my services (i.e. type, quality, quantity, etc.)?
5. What services to do I want clients to associate with my business?
6. How can I manage my business efficiently with the least impact on my productivity?
7. What resources do I have to operate my business? What resources do I need?
8. What is the value of my services? How can I continually increase that value?
9. How will I find potential clients and how will they find me?
10. What are the short-term and long- term goals for my business?

The Work

1. Which of my services do I prefer? Which are the most lucrative? Which new ones would I like to offer and which ones would I like to cut?
2. What title(s) do I believe most accurately reflects my role in my business (i.e. Owner, Senior Instructional Designer, etc.)?
3. What are the experiences that shaped my professional life that could impact my perspective on operating my business?
4. How do I work differently than I did as an employee?
5. What perception do I have of my company’s relationship with our clients? How can I ensure that my perception is always positive?
6. What role do I prefer to play on a project? How can I communicate my preferences to my client?
7. Am I an expert in one of my services? How can I demonstrate my expertise?
8. What are three learning and development philosophical perspectives that are important to me (i.e. “People learn by doing” etc.)? How can I incorporate my positions into the work that I do?
9. How can I demonstrate my value before my clients even meet me?
10. How can I create and constantly reinforce a brand that reflects me and my values?

The Life

1. How will my perception of myself as a learning and development professional impact my business?
2. Why am I doing this now? How will this decision affect my future security?
3. How will I continually and objectively evaluate my performance?
4. What is this business worth to me personally, professionally, and financially? What would I be willing to give up to keep going?
5. What is the impact of my business on me and my family?
6. What is the impact of my business on my personal and financial goals?
7. How can I shape my business to match who I am? How will my business shape who I am?
8. What motivates me to stay focused and engaged?
9. In which (work) space (s) am I most productive?
10. What is my perspective on the lifecycle of my business? Do I hope to stay self-employed forever? What are my keep/change/stop signs?