Wednesday, July 28, 2010

1:00 PM

Started by getting a feel for range of experience. Room ranged from people without a business yet to people with more than 5 years on their own.

Veterans Sharing ideas:

It is okay to turn down business and how to know when to do that.

o    Story: Use to take work no matter what it was, hated the work so much she even subcontracted it out. In the end it took up too much psychic energy… she made money but it filled out too much other time and energy.

o    If you are in for the money - don’t do it.

o    One of the benefits of freelancing is that

o    Time = money…

 How do you find the RIGHT kind of client:

o    Networking - - face to face networking is the best way to meet people. Don’t get too tied up in only in the technology - face to face networking is never going to go away.

o    Don’t feel pressured to do everything, there are hundreds of events every week - just do the ones that really work for you.

o    It makes more sense to go to fewer events… but go regularly. People need to see/meet you 7 times before you are recognized.

o    Several people stated that leads group are usually a waste of time unless you are real estate or a similar business.

o    Chamber of Commerce: After hours groups seemed like a waste of time unless you go regularly and build relationships.

o    You don’t get your customer at a networking event - you get a referral from the people you meet at these events. It is about building relationships.

o    Don’t go to networking to GET something out of it - spend your time getting to know people. Ask about people and what they do… get to know people. Ask first. See if you can be of service to them // see if can make a connection for them - they will remember you if you add value.

o    Know where the bar is at the networking events… :D

o    Avoid events that have “youth” or “young” associated with it… it is more about brainstorming and partying and less about getting business and/or referrals.

I wish I realized what I was worth from the beginning.

o    Don’t get too caught up on the pro-bono work - you can only “build your portfolio” so much.

o    Set a dollar value on your annual gifting and stick to it.

o    Don’t over extend resources on the free work even to build your portfolio.

o    Remember that pro-bono work is a tax right-off

How do you handle friend/family or acquaintances who want

o    Just be clear on what you are worth and be okay with saying no. 

Start-up Cautions/Info

o    If you are having people who want to help and be part of what you are doing be sure they are as invested as you are - including money. In the end if it your checkbook and your name on the line.

o    Be ware of “good hearted” free help. You get what you pay for.

o    Get an up front agreement in writing.

o    Surround your self with people who know what they do. Don’t try to do it all yourself. Get a good accountant and lawyer. Even a marketing agency. IT.

o    Free resource - Anne McDonld at the Poudre Business Library.  Call the Poudre Library and ask for her. She is a great resource - she even sent Angel a list of all companies with under 4 employees - name, address and phone number.  She can help you find your target audience within 5 miles of your business (or where you want your business to be).

o    Workforce Center does a class called “Be your own boss” and they will send you a packet of info of forms.

Business Plan

o    Two different plans // one for the banks and one that you will follow for your business model.

o    If you are going to take the time to write one out - make it an attainable goal.

o    Veteran: Wishes she had created one because having a strategy ahead of time she wouldn’t feel like she was chasing her tail.

Estimates

o    Use a boiler plate template

o    Include EVERTHING and assume everyone is clueless and cover all details.

o    Consult your lawyer about your estimates and contracts.

o    Include the option to add-on with a change order / more work equals more money.

o    Include a timeline so that you know you will get paid. Include a deadline on deliverables, if they don’t get back to you in a certain amount of time you should bill them at the end of the deadline so that jobs do not get drawn out forever.

o    If you are doing web design: be sure to include that changes once the design is in code will incur additional costs.

o    Freshbooks.com is a great tool for estimates and invoicing.

o    The iphone app for it is Minibooks

Money

o    If you are a freelancer it does not mean that you are not worth the same amount of money as the big corporate entities. Don’t think you can’t charge as much.

o    Freelancers have a reputation of doing anything for any amount of money - you have to know your value.

o    Know that your product is worth the money and don’t be afraid to remind prospects that they get what they pay for.

o    People are too tied to the lowest cost - but you can educate them and help them understand the value of what you do.

o    Don’t forget about taxes

o    Factor in ongoing web support

Sales

o    Take a sales class - you are SELLING your product and/or service.

o    Go to a networking even with sales people.

o    A sales class can be invaluable - learning a sales technique will help your business thrive.

o    As a business owner/ freelancer YOU ARE A SALESPERSON… Learn how to sell  yourself.

o    Sales has a negative connotation - but EVERYONE is a sales person.

o    A good book on advertising: “Ogilvy on Advertising”

o    Spend a day at a car-lot and you will learn a ton about how to sell.

o    Dedicate a certain amount of time to sales even when you are busy - you have to plan ahead. If you don’t have leads you will run out of work when the busy time is over. 

o    Cold-calling is a good way to get business. Sean says he even starts his calls with “Hi my name is Sean and this is a cold call” - he gets a giggle and they don’t hang up. But don’t forget to TARGET your list… find people that are real prospects.

o    Don’t forget about old fashion media - newspapers are looking for “experts” and looking for content and can bring you a lot of business. Advertising, submit press releases, submit articles.

Quality — Price — Time

o    There are three things and you have to choose two - you can’t have all three.

o     Price is lower the quality will be lower / if you want something tomorrow the price will go up and the quality will go down…