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Resources for FreelancersAs freelancers, sometimes it's difficult to locate all the possible resources available to help you develop your specific area of expertise. For journalists who have gone out of their own, the Society for Professional Journalists has a committee dedicated to freelance journalists. In fact, freelance writer, Amy Green, was recently appointed Chair of the committee - whose role is to be an advocate for freelance journalism. One of the benefits of the organization is that it posts legitimate writing gigs for journalists. About.com's guide to freelance writing also has a great list of resources for freelance writing jobs.
Tuesday April 29, 2008 | permalink | comments (0) The Rural Challenge for FreelancersDid you ever wonder how much your location might impact your earning potential as a freelancer? As one might expect, living in a major metropolitan area certainly has its advantages - and potential clients for your business. On the other hand, those of you building a freelancing business from a more rural location may be challenged not only in the ability to gain clients but in earning potential. Oh, and that earning potential is compared to the amount you would make with a full-time job, not necessarily compared to freelancing peers in other locations. But don't take my word for it. This is all according to a newly released study, "Self-employment in Rural America: The New Economic Reality," as published in Rural Realities (Volume 2 Issue 3, 2008). The uptake of the report is that self-employment (not counting farming-related activities) is at an all-time high in rural communities. In fact, it's grown more than 240 percent since the late 1960s. Estimates indicate that at this rate of growth, there will be one self-employed person for every three wage-and-salary earners by the year 2015. That's a staggering number. Sadly, the rate of compensation for these independent professionals has not caught up. Really, it's embarrasingly low. For instance, the report states that in 2005, self-employed professionals earned approximately one-half of that of a fully employed, wage/salary person (that's $16,851 compared to $31,596). That's pretty disappointing - and surprising, really. Read more...Friday April 25, 2008 | permalink | comments (0) Ready, Set, Launch...in These Top 100 PlacesFor those of you just getting started in a consulting business, take note. You may want to pack your bags and open up shop in Bellevue, Washington or Charlotte, North Carolina. That's according to Fortune Small Business' recently published list of the Best 100 Places to Live and Launch 2008. It gives an overview of top geographic locals to start a business and lead a balanced life. Both Bellevue and Charlotte ranked in the top 10 but there are plenty more winning locations.
How were they chosen? For the business component, editors considered the number of start ups in a particular area and conducted interviews with local entrepreneurs about available small business resources. On the lifestyle side of things, factors such as access to parks, museums and other recreational activities were considered, along with average temperatures and health care options. For IT consultants, there is also a list based on top technology hot beds to get you closer to your customer base. And for those of you looking to make the most of your dollars earned (that should be all of you), there is a list of seven "tax-free" states that do not collect individual income tax, and in a few cases, do not have a corporate tax, either. If you don't plan to relocate, does the list really matter? Yes. This could provide food for thought if you are considering expanding an existing consulting firm, and for freelancers (and telecommuters) who work remotely with clients anyway, it can also provide insight into areas with a growing customer base for you to target. Do you agree with the list? Let us know if your city should have been considered. Wednesday April 23, 2008 | permalink | comments (0) Innovation, Economics and Your Consulting BusinessThe number of small business owners troubled by current economic woes continues to rise. Are you among them? A recent "Small Business Monitor" survey by OPEN from American Express indicates 56 percent of businesses are experiencing cash flow issues and four out of 10 of those surveyed plan to scale back staff. "Like most Americans, SBOs are concerned about the uncertain economy," according to a press statement from Susan Sobbott, president OPEN from American Express. "However, true to their resilient, entrepreneurial spirit, they tell us that they remain focused on opportunities for the future and growing their business."
Interestingly, 71 percent of entrepreneurs still plan to grow their business in the next six months but some of that is influenced by age and location. For example, those owners over the age of 60 were most optimistic about what's to come. While out of the 68 percent of owners who already had future hiring plans to support growth, the majority of those were located in the south. Another tidbit of interest is that despite the current troubles (from slowing receivables to rising costs), nine out of 10 surveyed said, overall, they still see the entrepreneurial glass as "half-full." And to combat potential problems, nearly half invest at least 10 hours a week thinking about new ideas and how to be more innovative in order to grow. From ways to solicit new business to developing more payment options for customers, these small business owners are counting on innovation, creativity and optimism to pull them through to better times. Is your consulting business experiencing a slowdown? If so, let us know what you are doing to stimulate growth, again. Monday April 21, 2008 | permalink | comments (0) Are You Getting the Benefit of Bad News?When given the choice between receiving bad news or good news, most of us prefer the latter. Yet, when working with clients, that may not be the better option. A recent article from Harvard Business online discusses just that in "How To Get the Bad News You Need." The premise is that within organizations, senior management typically dislikes hearing about problems and may even create a culture that supresses the flow of information or punishes those who try to communicate concerns. While the article emphasizes how to create an environment with open communication, one related point is especially pertinent to those of us who work intimately with customers. As the author states, "...the ultimate beneficiary of good communication is the customer."
Many of us build our entire businesses on the value of the relationships we create with our customers. Given that it is hard to assign a numerical value to the activity of relationship building (other than the resulting bottom line of your business!), problems can be more difficult to spot. In other words, it's not as simple as scanning your financial statements and seeing the reg flag that something is out of balance. One might think we would be the first to know if a customer has a problem with the way a project is being managed. After all, as consultants or freelancers, we are often immersed in problem-solving activities on behalf of the customer. Why wouldn't we know if something is wrong? The answer comes back to communication - not only the fact that it should exist, but knowing when and how to effectively communicate with a customer - and not being afraid to hear a little bad news. After all, you can't overcome client concerns if you don't know about them. When soliciting customers for information, keep these simple rules in mind.
Saturday April 19, 2008 | permalink | comments (0) Clients and Social Networking Sites...Do They Go Together?Talk about buzz words and trends. Social networking sites have blossomed in the last couple of years and professionals across industries are still trying to decide what role (if any) they play in business. One group that seems to be figuring it out is the recruiting industry. According to a recent study by Robert Half International, more than one-third of those interviewed said they would tap into social networking sites such as Myspace and Facebook to recruit or get information about potential job candidates. An additional 62 percent of those surveyed said they would use sites such as LinkedIn which is geared more toward business. As social networking sites become more acceptable in the business community, it may be an increasingly opportune place to market your consulting business or to establish networks and approach potential clients. If you've ever used social networking sites for business purposes, drop us a comment and share your experience.
Thursday April 17, 2008 | permalink | comments (0) Evaluating Your Consulting RatesIt's always interesting to compare consulting rates, even across industries. After all, determining the best hourly fee can sometimes make or break your business. So, for those of you in a technical consulting field, you may want to see the recent wage information for Consulting Engineering Services released by Canada's stastics tracking agency for producer price index and services. The good news is that the hourly wage continued to tick upward from $107.8 in 2002 to $124.20 in 2006 (the most recent data available). The bad news is that there was no additional detail available. Still, it's an interesting look at our neighboring consultants.
For the rest of you, don't fret. There is plenty of other comparative data to see for the U.S. Check out this resource from the About.com Tech Careers Guide. This is great information for those just starting out and for the veterans. And, if you have been in the consulting business for a while, you may want to consider if it's the right time to increase your rates. Monday April 14, 2008 | permalink | comments (0) Saving Time with Outsourced Tasks Proves Good for AllWith summer just around the corner, many of us are enjoying the prolonged daylight as part of Daylight Saving Time. But the extra sunshine has yet to produce actual, additional hours in the day. For many small businesses, that means finding alternative solutions for getting everything accomplished in the same 24-hour day. According to a survey from the Houston-based Achilles Group, these companies are increasingly outsourcing basic services so that owners can concentrate on "core" functions - or their areas of expertise.
As expected, the survey found that administrative functions, such as accounting and payroll, are regularly outsourced. Additionally, owners tend to hire outside help for information technology functions and public relations. Also worth noting, the survey found that owners outsource at least two functions. This is good news for consultants who happen to specialize in one or more of these areas. It definitely helps validate the continued demand for a wide range of outsourced administrative services. But you might be surprised to learn who else is hiring outside support. While this survey focused on companies with 20 to 25 employees, other studies have indicated that freelancers are increasingly among those turning to other freelancers, or virtual assistants, for help on an as-needed basis. Why? For small businesses, outsourcing can help reduce costs by eliminating the need to bring on a full-time staff member with salary and benefits. For both small businesses and solo practitioners, utilizing outside resources can free up time better spent on revenue-building activities and strategic planning, and finding time for these activities are among the most common freelance hurdles. Tip: if you don't think you can afford to bring in an expert, consider bartering with your own expertise. Friday April 11, 2008 | permalink | comments (0) Dying To Be Self-employed?It sounds like the plot of a good murder mystery.... one by one, technology bloggers in cities across America are turning up dead. Who or what is behind the killing of these freelance Internet journalists? Work. Mystery solved.
Unfortunately, this is real. And there's no serial killer orchestrating the murders. Instead, these freelancers are pulling all-nighters to stay competitive in a global 24/7 economy, stressing to meet daily deadlines and are literally working themselves to death. At least, that's one theory for the untimely blogger deaths, as mentioned in an article by Matt Richtel in The New York Times. It is reported that two well-known bloggers recently died - both from heart-related episodes, while a third technology blogger narrowly survived a heart attack in December. Of course, the fact that they are all bloggers is a convenient similarity. The truth is that almost any freelance work will eventually put a kink in your nightly sleep routine and take its toll on you. You'll soon be able to count the number of hours you have selpt on one hand. Why? As Richtel notes, "A growing work force of home-office laborers and entrepreneurs, armed with computers and smartphones and wired to the hilt, are toiling under great physical and emotional stress created by the around-the-clock Internet economy that demands a constant stream of news and comment." In other words, always-on technology in an always-demanding global economy begs that we work constantly; and the more time we work, the less time we take for ourselves. Is it necessarily a bad thing? Well, untimely demise aside, working for yourself in a job you love can't be all bad. Most freelancers will be quick to defend the occassional all-night work session as part of the sacrifice for being your own boss. As always, the trick is to find balance (and maybe lay off the junk food during those late night work sessions!). How do you find balance? Has your health suffered becuase of long work hours? Let us know what you think. Tuesday April 8, 2008 | permalink | comments (0) Display Latest Headlines | powered by WordPress |
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