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What makes a good contractor?
Having the motivation to find a contract: Probably the most difficult and frustrating aspect of contracting is actually finding a contract in the first place. The trick is to always stay positive and never lose motivation. Keep a detailed spreadsheet of possible contracts, skills required, client and agency contact details, rates, contract durations and most important, conversations. Never worry about whether or not to chase a client or agent. It’s much better to chase and know the status of things rather than sit around and worry.Maintaining professionalism at all times: Contractors are professionals who are in the business of selling skills and experience to clients (some also sell deliverable work product). It’s important to maintain a professional approach at all times whether you’re looking for a contract, meeting a potential client or delivering contract services etc. If a Recruitment Agent is involved (which they normally are) consider the agent and client equal. Many contractors let their professional attitude slip a little when dealing with a recruitment agent. If you become too soft with a recruitment agent you may find it harder to negotiate contract rates and if things go badly and you get effectively black listed you could limit your chances of securing a great contract.
Being able to work with new people: The majority of contracts are 3, 6 or 12 months in duration (although many get extended). This means you will meet plenty of new people, not all of whom you will get on with. Keep all business relationships professional and try not to get involved in office politics.
Adapting quickly to new environments: As a contractor you need to develop a ‘hit the ground running’ mentality. With a permanent role you often get 2-3 weeks to get up to speed and start actually undertaking the job. With a contract role the client will expect services to be delivered almost immediately. Make sure you spend a bit of time after hours getting used to the basics such as the building layout, reading any existing project documentation etc.
Training in new skills: Many contractors have niche skills that clients do not possess in house, that’s one of the reasons clients pay big. If you want to command good contract rates you have no option but to train in new skills. Put a few weeks aside a year and take a professional course, read trade journals and keep up to date with new skills and technical developments. Taking time to improve yourself will mean you are always in demand and can command bigger and better contract rates.
Limited Company knowledge: If you decide to go into business with your own contractor limited company make sure you know what you are getting yourself in for. If you do not take the time to understand IR35, VAT, dividend payments, higher rate tax etc you could find that you end up with a great big tax bill in years to come which you are unable to pay. If you just want to concentrate on your work rather than think about these things make sure you use an umbrella company, as everything is done for you and you won’t have to worry about a thing.
Conscious of potential business: Always be aware of potential business opportunities. Keep in close contact with clients and agents, this way you may be asked to undertake a contract even before it has been posted.
