Organizational Tips for the Self-Employed (or those who do side jobs)
As you may know by now, I am only two days away from being a completely free agent. In the meantime while I finish up my last days here at Fiserv, I've been tapping my friends and colleagues for tips and advice on making my solo flight a success. One of those good friends, Boyan Kostadinov, took some time today to share with me the tools he uses to organize his own side projects. Being the extra nice guy he is, he also summed it all up for everybody else in a concise post that can be read on his blog.
I was also turned on to an organization that I had never heard of, but one that exists in many locations across the U.S. It's called "S.C.O.R.E.", and it's a non-profit agency associated with the Small Business Administration who, through the volunteer time of successful and seasoned entrepreneurs, provide (free or nearly free) training and advice to people in all stages of developing their own business. The national web site is www.score.org . From that, you can find the nearest local chapter.
Also, I received this VERY thorough and informative comment from Brian Ghidinelli. He would have left this info publicly but my spam filter gave him some fits, so here it is for everybody else's benefit:
Doug - congrats on taking a step towards independence. Things I have
learned that will be of value:
1. Underpromise and overdeliver, a classic.
2. Create a physically separate workspace that you "leave" at the end of
the day to create space between your work and personal life (assuming
you are working from home). If you are working from home, I would go so
far as to have your work computer and a separate computer you use if you
need to check things after work. Your wife will appreciate it.
3. If you can afford it, a small office somewhere is great for
productivity. Look into startups in your area who may have a desk with
phone and net they will rent you for a few bucks a month. Having
someone to get lunch with and share ideas is invaluable.
4. Always bill on a retainer. 25-30% up front and work AGAINST that
payment. You are small, and have no legal team. Your customer will
invariably have more cash than you and thus you are at a disadvantage.
The bigger the company, the more likely they will try to push you on net
30, 60 or even 90 days but generally speaking the more guaranteed that
payment is. Repeat customers can be cut some slack but your #1 weapon
for collecting payment is to STOP WORKING. Don't break your own rules
or you will come out at a loss.
5. Close your email client. I find I get about 50% more done each day
if I close my email client for a few hours at a time and then reopen for
a check, close, and continue.
6. If you're not super organized, look into Getting Things Done. You
don't have to be hardcore, but many of the principles are well suited to
methodical minds.
Remember that you are now selling your time for money. You only have X
hours per week. Therefore, you must be diligent about how you use that
time and specifically how you bill your clients. Every hour wasted is
one hour less pay at the end of your bill period. No more getting paid
for making TPS reports!
Now the upside is that you can often work from anywhere. I spent 7
months going around the world last year and not a single customer knew.
I have an ASP model but still, life can be sweet.
I'd also recommend the personalmba.com - if you feel like your business
skills could be improved, they have an awesome list of resources for
reading that cover law, marketing, business, negotiations, people
skills, etc.
Of course - good luck!
Any other input that comes to mind, please feel free to either leave it in the comments or email me at dougboude at gee male dote calm.
:0)
I was also turned on to an organization that I had never heard of, but one that exists in many locations across the U.S. It's called "S.C.O.R.E.", and it's a non-profit agency associated with the Small Business Administration who, through the volunteer time of successful and seasoned entrepreneurs, provide (free or nearly free) training and advice to people in all stages of developing their own business. The national web site is www.score.org . From that, you can find the nearest local chapter.
Also, I received this VERY thorough and informative comment from Brian Ghidinelli. He would have left this info publicly but my spam filter gave him some fits, so here it is for everybody else's benefit:
Doug - congrats on taking a step towards independence. Things I have
learned that will be of value:
1. Underpromise and overdeliver, a classic.
2. Create a physically separate workspace that you "leave" at the end of
the day to create space between your work and personal life (assuming
you are working from home). If you are working from home, I would go so
far as to have your work computer and a separate computer you use if you
need to check things after work. Your wife will appreciate it.
3. If you can afford it, a small office somewhere is great for
productivity. Look into startups in your area who may have a desk with
phone and net they will rent you for a few bucks a month. Having
someone to get lunch with and share ideas is invaluable.
4. Always bill on a retainer. 25-30% up front and work AGAINST that
payment. You are small, and have no legal team. Your customer will
invariably have more cash than you and thus you are at a disadvantage.
The bigger the company, the more likely they will try to push you on net
30, 60 or even 90 days but generally speaking the more guaranteed that
payment is. Repeat customers can be cut some slack but your #1 weapon
for collecting payment is to STOP WORKING. Don't break your own rules
or you will come out at a loss.
5. Close your email client. I find I get about 50% more done each day
if I close my email client for a few hours at a time and then reopen for
a check, close, and continue.
6. If you're not super organized, look into Getting Things Done. You
don't have to be hardcore, but many of the principles are well suited to
methodical minds.
Remember that you are now selling your time for money. You only have X
hours per week. Therefore, you must be diligent about how you use that
time and specifically how you bill your clients. Every hour wasted is
one hour less pay at the end of your bill period. No more getting paid
for making TPS reports!
Now the upside is that you can often work from anywhere. I spent 7
months going around the world last year and not a single customer knew.
I have an ASP model but still, life can be sweet.
I'd also recommend the personalmba.com - if you feel like your business
skills could be improved, they have an awesome list of resources for
reading that cover law, marketing, business, negotiations, people
skills, etc.
Of course - good luck!
Any other input that comes to mind, please feel free to either leave it in the comments or email me at dougboude at gee male dote calm.
:0)
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Re: Organizational Tips for the Self-Employed (or those who do side jobs)
I have been contracting/consulting for a long while. I certainly concur on the above tips. I had written a few posts on it a while back if you are interested in reading.
http://jwopitz.wordpress.com/2007/04/05/some-tips-for-consultants-contractors/
http://jwopitz.wordpress.com/2007/04/06/some-more-to-chaw-to-chew/
and some basic info I have aggregated for we developers
http://jwopitz.wordpress.com/invaluable-links-for-flexflash-developers/
http://jwopitz.wordpress.com/2007/04/05/some-tips-for-consultants-contractors/
http://jwopitz.wordpress.com/2007/04/06/some-more-to-chaw-to-chew/
and some basic info I have aggregated for we developers
http://jwopitz.wordpress.com/invaluable-links-for-flexflash-developers/
Posted by jwopitz on January 11, 2008 at 6:18 PM