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Start-Up Guide :: 10 contractor success tips

Published on Oct 22, 2008 |

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1)Are you cut out in the first place? - Read our Before you Start Out guide to ensure that the contractor lifestyle is for you.

2)Do you have the skills to succeed? - Ensure that there is a market for your skill set and experience before taking the leap. Keep an eye on current contractor rate trends.

3)Adaptability: IT contractors need to be able to change colleagues, projects and environments on a regular basis. An experienced contractor should be able to take change in his stride, and settle into each new role rapidly.

4)Negotiation skills: You need more than technical expertise to succeed as an IT contractor. You will need to be able to negotiate rates and conditions each time your contract is up for renewal, and securing you first contract.

5)Presentation skills: There are IT contractors performing a wide variety of roles across the UK, from helpdesk support technicians to project managers. Take your contract work seriously, dress appropriately for the workplace you frequent and behave professionally at all times. Contract renewals should take care of themselves.

6)Making contact: A large number of contractors can work for many years without having to find a contract via a recruitment agency. Keep in touch with other contractor colleagues, as many contracts will be offered by word of mouth before they get referred to recruitment agencies.

7)Dealing with Permies: Some permanent staff members may perform similar roles to you, with far lower rates of pay. Ensure that you never discuss your contract rates with them, as this will only put people's backs up.

8)Keep Up-to-Date: As a contractor, you are responsible for your own training, and for keeping in touch with changes in technology. It is essential to ensure your skills keep up with changes in the marketplace.

9)Tax and Accounting: Keep on top of your accounts and admin. Choose a good accountant and pay your tax liabilities on time. If you fall behind, not only could you end up paying penalties or receive a tax investigation, but this will add unnecessary stress to your IT contract career.

10)IR35: The notorious tax can take a chunk out of your potential earnings if you are unprepared. All contractors should aim to take legal advice before signing a new contract, and ensure that the working practices of each role they take on will be such that they do not fall into the IR35 trap.

You can also read our further IT contractor success tips.