The nation’s economy has sent seasoned workers back to school, stay-at-home moms back to work, and those with an entrepreneurial spirit into their own businesses. In fact, independent contractors and freelance workers seem to be enjoying unlimited amounts of work now, while others are waiting in line with hundreds of applicants for a single, halfway decent job. Why? Independent contractors and freelance employees are an attractive option for employers today because they cost company’s less and they are usually more flexible to employer’s needs. Freelance workers and independent contractors handle their own health insurance, taxes, retirement, and other benefits, so employers don’t have to. As more and more companies downsize, limit or eliminate hiring altogether, and hire one person to do the work of three, they will call on independent contractors and freelance workers more and more to fill the gaps.

So, what does this have to do with consulting? Plenty. While consulting firms are not immune to the effects of the economy, they still rake in billions of dollars each year. Not only this, but many ambitious consultants have found that they can take home a bigger piece of the billion if they branch out on their own. What this means is, freelance consultants and independent contractors will have plenty of opportunities to compete for thousands of jobs in an industry that’s expected to expand by 82.8 percent by 2018.

Before you take the plunge, take inventory. There are certain skills, experience, and education that you’ll need in order to be successful in the consulting industry. Let’s start with education. Whether you’re looking for short-term projects or a long-term position with a consulting firm, you will have to provide some impressive credentials to and the account or get the job. Most companies prefer candidates with a bachelor’s degree or higher in business management consulting, marketing, accounting, engineering, economics, computer and information sciences, or business.

According to Bureau of Labor Statistics, some companies hire MBA (Master of Business Administration) students right out of college and place them in a rigorous on-site training program. The same goes for students with a master’s in a related field. For individuals interested in working freelance, as an independent contractor, or starting their own consulting business, spending a few years in the industry with a top firm is probably a good idea. This way, when its time to marketing yourself, you will have the education and experience needed to impress your potential clients.

Besides education and experience, you will need certain skills that you cannot acquire in school and others you can. For starters, advanced computer skills are a must, so during your graduate and undergraduate career, take as many computer course as you can. Next, you have to have a certain type of personality to be a successful consultant. You must be a people person, friendly and outgoing as well as service-oriented and idea-driven. Most employers look for these qualities. They have to be able to work with you and depend on you to come up with ideas that will benefit their company or organization. Now that you have an idea of what it takes to become a consultant, take a look at the following list to find out which careers are ripe for consultants. 

• -Accounting
• -Advertising
• -Auditing
• -Business
• -Business Writing
• -Career Counseling
• -Communications
• -Computer Consulting
• -Editorial Services
• -Executive Search/Headhunter Firms
• -Gardening
• -Granstmanship
• -Human Resources
• -Insurance
• -Marketing
• -Payroll Management
• -Public Relations
• -Publishing
• -Taxes
• -Writing Services

For more information about consulting careers, visit the Association of Professional Consultants at Consultapc.org.

Is the life of an entrepreneur for everyone? Probably not, as it can be rather demanding and it’s hard to imagine living that life unless you have a passion for business or for the service or product you choose.

The next question involves whether you can learn to be an entrepreneur. Some people may want to do it, but they really aren’t prepared to make a successful go of it.

The subject of entrepreneurship is becoming very popular at business schools as this notion is being tested.

Twenty years ago teaching people how to start their own businesses was a sideshow at B-schools, of scant interest to future consultants and Wall Streeters. Today entrepreneurship education is everywhere. More than two-thirds of U.S. colleges and universities — well over 2,000, up from 200 in the 1970s — are teaching it, and they offer it to all comers: social workers, farmers, and even musicians. The field is thriving, but have we figured out yet the best way to teach this stuff? If not, are we at least getting better at it? And can you even teach someone to be an entrepreneur?

This makes perfect sense, as many entrepreneurs have a passion for their product but have little experience running a business, while many business professionals can’t grasp some of the risk assessments that entrepreneurs make every day. It’s amazing how spending your own money focuses the mind!

What’s taught in these courses?

By developing in students the proper attitude toward risk, for instance. Entrepreneurship isn’t about the love of living on the edge; that’s pure myth. “You’re all about de-risking your idea,” says Fairbrothers. He means one, identifying, unblinkingly, what could go wrong; and two, taking whatever steps necessary to slash the odds that it will. You do that by relentless learning — about your market, your customers, your competitors, and if you’re truly new at this, about the nuts and bolts of business.

If you take a close look at this proposition, you would thing that every business student should be required to take a course in entrepreneurship. Understanding risk is critical to any endeavor, and this notion should be drilled into every person in your organization, whether you’re simply a manager or an entrepreneur.

You also need to be thinking about the best ways to save money while your business gets off the ground. Moneysavingguide.com can help you brainstorm some ideas to keep your costs under control.