I also have industry contacts. What could be posssible disadvantages and issues or challenges? Especially in comparison to doing that as a salaried consultant.
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Does your current employment contract stop you from doing this as a freelancer on the side?
If not, make it work and see if you can do it as a side hustle. If it works, brilliant sack the job and run it. If not then continue working. Why lose a guaranteed monthly income for something that’s not promised, be careful if the industry in tight nit though as your employer can give bad recommendations.