You may have noticed that I have been kind of offline from this blog for a few weeks. That is because my current contract involves plenty of travel, probably more than I had anticipated when I sign up for it.
This is odd in a way – one of the reason I chose be a contractor is to have a better work-life balance and more flexibility to work around my young family’s needs.
So how did I end up being on the road for the best part of 4 weeks this month?
The company I work for is a Californian tech company. I like these type of companies, they do interesting stuff and I flourish in an agile environment. However, in this case in particular it is a company for young people in their 20s without a family, where no one says no to new projects, overtime and one more flight in an already busy month.
Admittedly, before signing up they asked me about travel availability. My mistake was to say “just give me advance notice to sort out childcare”. Instead I should have said “how much travel will actually be involved?” Lesson learnt.
The other thing I need to get better at is understanding how they normally work with contractors and if they understand the difference between employed staff and self-employed consultants. You’d be surprised how many people don’t understand the subtle yet marked difference.
As an independent contractor I get paid to work X hours a day. I don’t get paid overtime nor a performance bonus. I also don’t get paid holiday nor company pension contributions. This is all on me – because I chose to have the flexibility and benefits of being my own boss.
This also means in the future I will have to do a varying degree of education work so companies I work with understand and respect that I will leave at a set time in the evening and I won’t work weekends (unless I get paid for it).
Is this project worth being away so much?
Yes! I like this project – I train hundreds of people on how to run successful digital marketing campaigns, how to use the Google platforms, and I do that in English, German and Italian. Essentially, I train international marketers to do the jobs I’ve done for years. I get paid to talk shop for days and network with other professionals.
Besides, it ends in 2 weeks, and it’ll be back to a more normal life. And my daughter’s nursery Christmas party after it ends.
What else have I learnt in the last 4 months?
I am getting into the nitty gritty part of a (my) company’s accounts, and to my surprise I am finding it fascinating. It is still time-consuming because I’m still learning, but I am sure it will become a smoother process soon enough.
I made the mistake of picking the wrong accountant and the wrong business bank, thanks to a recruiter who quite certainly earned some nice commission out of it.
I have completed the switch to a more modern & cheaper accountant. After this contract finishes in a couple of weeks I’ll tackle the change of bank. You know, one with an understandable user interface and with money transfers that are quicker than 2-3 working days. One with a savings account where money gets transferred instantly rather than in 30 days! That kind of simple stuff.
Once I realised that I was not satisfied with accountant and bank I asked my friend Kris (also a contractor) what providers he uses. And I went for the same providers and packages. He’s been a contractor for years, he’s smart, he knows his stuff. So next time I need to decide on something, I’ll make sure to ask him or other trusted contractors first.
And if you’re new to the world of contracting, ask me or someone else who have done it longer than you have. Ask your peers, not some sales person. Doh!
What I like most about contracting
- I decide how much to pay myself
- I kind of decide myself when to take time off and how long
Sure, I need money in the bank, and that means working enough to have it there and making sure your invoices get paid. But then again, I don’t need to wait for a potential (or promised) pay rise and bonus.
I am in charge of my own financial situation.
I can spend time learning, discovering efficiencies, strategizing how to earn more money and get more interesting projects.
I know I will have ups and downs, but I am definitely enjoying the freedom and power that comes from being independent.
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