My Journey from Business Owner to IT Contractor: Lessons Learned

Introduction

At 18, I embarked on my first business venture with the dream of making a million dollars. However, between the ages of 18 and 28, I learned the hard way that youth often comes with inexperience. I ended up losing money rather than making it. But one pivotal moment came when a good friend introduced me to a business connection. He suggested that I work as a SQL migration contractor for a leading e-commerce company. Although I had no prior experience in this field, I decided to take the plunge.

Transition to Contracting

My First Contract

The contract involved migrating SQL from one version to another for a company struggling with their SQL server. Despite my initial lack of knowledge, I dove into the project and began learning on the job. It was during this time that I first encountered concepts like CAP theorem (consistency, availability, and partition tolerance). Although these terms were new to me, I gradually understood their relevance and impact on complex systems.

Solving these problems was not only intellectually rewarding but also financially lucrative. For the first time, I experienced the substantial earnings that could come from contracting. This initial success marked my entry into the world of IT contracting.

Early Influences

Before delving into contracting, I spent time as an exchange student in Maryland, USA. My host, a software contractor in his early 30s, was making a good living, as pointed out by my host mother. Although I was curious, computer science felt like a black box to me at the time.

Years later, when I joined Accenture at age 32, a general manager's remark about contractors making most of the money stuck with me. This realization further fueled my interest in contracting.

A Turning Point at Microsoft

While working at Microsoft, I had a conflict with my manager. His parting words were, "Erdem, you can find a role anywhere you want, but I wouldn't be able to do that." It took me a while to fully grasp the significance of his statement. My short stints at various companies were already hinting at a contracting mindset.

After leaving Microsoft, I faced the harsh economic realities in Turkey, where corruption and limited opportunities made it difficult to find a lucrative job. This prompted me to look abroad, and I eventually secured a business visa to work in the UK. Today, I earn 10 times what I made in Turkey by contracting.

The Realization: Risk and Reward

Understanding the Contractor's Edge

The journey taught me that contractors often make more money because they take on more risk than regular employees. As long as you can consistently secure contracts, contracting can be more profitable than traditional employment. Unlike running a traditional business, contracting doesn't require employing a large workforce. The key is to take on tasks that big enterprises need but are reluctant to assign to their full-time employees.

Specializing in Niche Markets

In my case, DevOps contracts have become a niche where companies are willing to pay a premium to fix critical issues. If you have specialized skills, you can command high fees without the overhead of running a large business.

Marketing and Networking

Building a Presence on LinkedIn

One crucial aspect of successful contracting is effective marketing and networking. Building a strong LinkedIn presence is vital. This platform can help you connect with potential clients and showcase your skills and experience.

Conclusion

My journey from losing money in my first business to becoming a successful IT contractor has been filled with valuable lessons. Taking risks, continuously learning, and effective networking have been key to my success. If you're considering contracting, remember that while it offers higher rewards, it also comes with greater risks.

Stay tuned to my channel for more insights on contracting, building a LinkedIn presence, and networking tips. Thank you for watching, and see you in the next video!

If you have any questions or thoughts, please leave them in the comments below.

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Imported from rifaterdemsahin.com · 2024