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Linked

Prospecting: The Freelance Habit You Didn’t Know You Needed

Megan shrewdly writes on the BlackFreelance blog:

One thing I will give employment credit for…it does package up work nice and neat. That’s what keeps people hooked.

That’s what keeps people running back…work just sitting there waiting for you without you having to think about where it comes from. It’s the hardest thing to walk away from.

That little fact right there? Is why freelancers who are serious about their businesses really have to focus on making a mental shift when it comes to getting work, and that’s why today, we’re gonna talk about prospecting.

First off I want to be clear about something…anyone who wants to build a sustainable freelance business that adds actual value in their life? They’re going to have to think about prospecting. BUT…it’s something you develop over time, so if you’re bad at it, scared of it, or have no idea what it is, that’s fine and totally normal. You’ve got time to up your prospecting game.

Prospecting: The Freelance Habit You Didn’t Know You Needed – BlackFreelance –

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Linked

Self-Employed? Here’s How You Can Apply for a PPP Loan Too.

Dan Biewener writes on the Fundbox blog:

If you are self-employed — as a sole proprietor or independent contractor with no employees — you may still be able to apply for a Paycheck Protection Program (PPP) loan until August 8, 2020. Don’t let the “paycheck” in the name fool you into thinking you wouldn’t qualify for this forgivable loan. In fact, since you don’t have staff headcount, payroll, and benefits to calculate, your application process (for the loan and later for forgiveness) should be much simpler.

In essence, even as a sole proprietor, the PPP loan can provide you with funds equivalent to 2.5 months of net earnings you would have made — if it weren’t for the coronavirus/COVID-19 pandemic — based on a comparative period from 2019 (or the first 2.5 months of 2020 if your business began this year).

You can also use a portion of this loan to cover some operational expenses for your business (like business-related rent, utilities, or interest payments on a mortgage or other business loans). However, if you want to qualify for loan forgiveness, these operational expenses can only account for up to 40% of your total loan amount.

Self-Employed? Here’s How You Can Apply for a PPP Loan Too. | Fundbox Blog

Going through the detailed list in the post, it actually doesn’t look terribly painful to apply for. And worst case: it’s a cheap (1%) five year or ten year term loan (if you end up not qualifying for 100% forgiveness). Well, actually worst case is that you really need it and don’t get approved, but the point remains …

I haven’t done this, so I can’t give a firsthand perspective. I suspect a few folks, however, may find this information useful. There’s no shame in applying if you need it. And if you need it you need it.

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Linked

You Can Only Win if You Keep on Pushing

This is a powerful essay from former consultant and long-time entrepreneur Justin Couto. I think any entrepreneur can well relate to it. He writes:

No one starts a business to have it fail, but unfortunately, that is what happens all too often. I know I certainly had many close calls with business failure while running my former companies, and the weight of those seemingly inevitable failures baring down on you is crushing. It can be kryptonite to the point that your paralyzed and utterly ineffective at finding a way out.

SoCreate – Bootstrapping Ain’t Easy: You Can Only Win if You Keep on Pushing

Anyone who has ever tried to create/ build something meaningful – whether a business, a non-profit, a movement or piece of art – can relate to the things shared in this essay. Inherently a lot of tears, frustration, second-guessing, uncertainty, setbacks, and personal growth are behind just about every step – or leap – forward.

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Quotes

Seeds

Don’t judge each day by the harvest you reap but by the seeds that you plant.

Robert Louis Stevenson
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Articles Linked

Tech Consulting in a Tight Economy: COVID-19 Edition

During the Global Financial Crisis of 2007-08, I published a post of a similar title as this one. In light of the current humanitarian crises and resulting economic fallout that COVID-19 has triggered, it seemed worth revisiting that old post as well as sharing an up-to-the-moment opportunity example.

My opener is just as relevant today:

Independent consultants may be in an enviable position within the world of business. Our services – by their very nature of not being tangible – allow us to be more agile. We can adopt to changing market demands.

Adapting, accepting reality, making adjustments, experimenting, learning, brainstorming, analyzing results, incrementally getting better – these are things an entrepreneur does. And make no mistake: consultants and freelancers are entrepreneurs.

Aaron Cruikshank of Friuch Consulting writing on his blog around that time period said:

Find new pain points, serve them.

And also:

People starting out in consulting today might think that they need to go down market to succeed in a shrinking economy. I respectfully submit that such thinking is bunk. What you need to do is find a niche that is not something everyone else is doing and sell it at a premium. For example, when the economy is tight – offer a service that makes people think they’re saving money. You’re a webmaster? People still need websites, even when the economy is in the toilet. Make your niche designing websites in the most affordable way possible or link your design techniques to a measurable return on investment (ROI) so that the client can be sure they got their money’s worth.

I don’t think his statement just applies to those just starting out. It applies to all of us at all times.

Expanding on his example, I’ll dig into this a bit deeper so that you can see how it might apply to your own situation one way or another.

SITUATION: Restaurants (and other businesses too) are focusing on pick-up / take-out service with an emphasis on contactless service, social distancing enforced through scheduled pick-up and pacing, and the like.

OPPORTUNITY: Many restaurants have sub-par to horrible ordering processes on-line and off-line. They’re also suffering from cash flow and liquidity problems. They need orders, they need streamlined processes, they need a good customer experience, they need low hassle, and they don’t have any extra capital to invest in accomplish this.

SOLUTION: Utilize your web skills, business process skills, availability, and expertise with third-party technical solutions to pull together a tailored solution for a restaurant client in exchange for a % of sales (up to a fixed dollar figure roughly equivalent to what you’d have charged for the same work with paid ahead of time payment terms – or even 15% to 25% higher – to compensate for the added risk you’re taking on).

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Linked

Why Marketing Really Matters for Solo Professionals

What getting good at marketing can do for the individual is to help him or her find the clients they could care about and be eager to help, and the types of work that would be truly stimulating. The better you are at marketing, the more truly professional you can be, because you are not forced to take money from anyone and everyone just because you need the cash.

— David Maister in “Doing It For The Money

A business does marketing and sales for the money, but that’s not the sole reason to get good at it.

David’s original article is a bit long, but there are some other tidbits wrapped around this quote if you feel inclined to dig them up. I also recommend two of his books, “The Trusted Advisor” and “Strategy and the Fat Smoker“ and/or spending a morning with your coffee in hand while perusing his articles and blog archive.

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Linked

The freelancer versus the entrepreneur

Seth Godin writes an excellent post on this topic and forces you to ask:

Which are you? Are you sure?

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Linked

Flaws in Handling New Business Inquiries

The WAV Group had researchers pose as consumers and make inquiries with real estate brokers. The results were depressing. They found that:

  • 48% of buyer inquiries were NEVER responded to.
  • Average number of call back attempts after the initial contact was 1.5
  • Average number of email contact attempts was 2.07
  • Average response time was 917 minutes (or 15.29 hours)

Their results were about right for solo technology professionals as well, in my experience.

Unfortunately, that’s not the the most depressing part. It’s embarrassing for me to admit this, but the very week this study came across my desk I blew off a new contact …and we were discussing some ways we could work together. I didn’t ignore him intentionally. I simply completely dropped the ball on getting back to him in an email thread we were having.

I never like to leave somebody hanging. I have no excuse, though I told myself I was too wrapped up in a couple of projects that suddenly picked up momentum that week to continue the thread wholeheartedly. I still should have acknowledged him and said something before it became a 14 (!) day gap of silence. This is Customer Service 101 and I blew it. Learn from my mistake.

Learn all you can from the mistakes of others. You won’t have time to make them all yourself.


Alfred Sheinwold
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Linked

What are you afraid of?

Alan Weiss writes in the Million Dollar Consulting Mindset newsletter:

Too often our personal “driving force” isn’t composed of our strengths and passions but rather of our fears. We are afraid to confront an issue; to start a conversation; to pick up the phone; to try something new. We are “driven” in another direction entirely, to procrastinate, make excuses, abandon a plan, endure a poor relationship.

As the same poles in a magnet repel, we are “repelled” in a different direction, antipodal to our intended goals. “Fight (our fears) or flight” results in flight. This makes us not only unsuccessful, but also uninteresting.

As with any problem, to remove it we must find the cause. And in this case the cause is almost always an ego problem, poor self-esteem, “baggage” being borne for no rational reason at all. We fear rejection, we fear a “loss,” we fear ridicule, we fear “defeat,” we fear fear itself. Our fears are, of course, irrational, because they create a far worse future than any pain in confronting the obstacles would actually produce.

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Linked

How one person provides high quality support to 4 million application users

Brian Cervino on how he supports Fog Creek Software’s four million strong user base for Trello:

As we pass four million Trello members I thought it would be a good time to share with other small software development teams the fact that providing high quality support doesn’t have to be expensive or impossible.  This includes a one business day initial response window for all newly created cases and making sure to follow through on all open cases until resolution.  With just a few tools and some dedicated time, it is possible for even just one person like myself to support our entire member base.

Pretty damn impressive.