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From employed manager to freelance professional

Embarking on a new career path is itself an important change in a person's life. If then, instead of moving from one company to another, you totally change your approach and way of working, the leap is even greater and more difficult to manage and digest.
In 2017 I found myself without a job, fired from a managerial position overnight. As I drove home in the company car that I was supposed to return the next day, I thought not only about the impact of the news just received on my life and my bank account, but also about managing my daily life without having - for example - a car to go to the grocery shop.
I made the decision to undertake the path of freelance consultant after 16 years of employment when, after a couple of weeks after being fired, I had the opportunity to assist a company that wanted to develop its business in foreign markets.
The mental transition from a fixed salary credited monthly in the bank to a 6-month contract after which there would have been a hugequestion mark was quite challenging.
In addition to the change itself, I had several doubts concerning the operational part. For example, when negotiating the compensation with my first client, I did not have a clear idea of ​​the tax impact on the turnover and the actual amount of additional expenses that I would have incurred in as a freelance compared to a company manager.
Some of my doubts were:
  • Should I open a company or request a VAT number as individual professional?
  • The gross compensation invoiced through a company or as individual professional to which gross salary as employee does correspond?
  • What expenses should I take into account that until now were covered by the company? (e.g. car and related maintenance and fuel, laptop, telephone, insurance, supplementary pension, ...)
  • How much does a health insurance equivalent to the one I have as amanager cost?
  • Is it cheaper to buy a car or lease it?
  • I will have to purchase work tools such as laptops and printers. To be able to deduct them from the taxable amount, do I have to request the VAT number before buying them or can it be done later?
With these and other doubts in mind, I turned to an accountant, who obviously answered my questions, facilitating my decision-making process; nevertheless some choices are subjective and totally at the discretion of the professional, so you need to study, learn and develop new skills to manage all this effectively
I have been a freelancer for 4 years now and I would never want to return to employment. The autonomy and self-management of your time and professional activities definitely compensate for the latent precariousness implicit in the role of independent consultant. Moreover, the ability to interact with different realities and work in different fields provides a significant acceleration to one's professional experience.
Having a good network - and a bit of luck - I had no difficulty in finding clients and projects but it was the downside of the potential discontinuity of the workload that made me consider brilliant the idea of ​​my partner Assiya to found MyFashionManager.
In Italy alone, there are over 82,000 companies operating in the fashion industry and the opportunities for collaboration are almost endless. I can personally assert that the path of the independent profession is viable and can offer growth and great satisfaction. Through MyFashionManager, we are building a strong community that will make it even easier to access interesting opportunities in all business areas.
If you are a manager who wants to change your professional life by building something unique, enrich your skills and have total control of your time, do not hesitate to sign up or contact us for more information.
MyFashionManager: the place of skills and opportunities