When you’re a freelancer or solo independent contractor, you are your own Marketing Department. It’s up to you to make the contacts and generate the work that will enable you to grow your business.
Freelance newcomers and veterans alike need to continually broaden and update their work-finding and marketing skills not only to sustain their current workloads, but also stay ahead of the competition. Two keys to being successful at this are consistency and dedication. The search for work is constant part of your independent enterprise, so you’ll enjoy it more if you develop a passion for finding the next big project.
Obviously, the best sources of new business are current customers. Doing good work for them will keep them coming back, which is why you also need to be a stickler for client satisfaction. Always stand behind your work and try to gauge client expectations at every step, and then exceed them.
It’s also important to stay in touch with your clients, even if you already have a substantial backlog of work. Check in periodically to ask how things are going, what projects or initiatives may be in the works, and remind them that you’re ready to help out if the need arises. They’ll appreciate your proactive interest, and planting that seed may pay off immediately, or in several months when things start to slow down on your end.
Also recognize that building your personal brand is important. As a sole operator, your brand is you, so focus on leveraging your special knowledge, style or expertise. But don’t lock yourself in to tightly. The most successful independent contractors try to build new skills and leverage existing ones to higher price levels.
A substantial number of Web sites specialize in matching freelancers with potential clients. Their approaches are as varied as the range of industries they cover. Some work on a bid system where employers post projects and freelancers bid on the work. These sites will likely take a cut of your proceeds. Then there are job boards, where projects are posted and you respond with a pitch letter and resumé directly to the employer. You may need to pay a fee to access these resources, so it’s a good idea to find out whether the amount of work or contacts generated is worth the investment.
Richard Strug
Greater Princeton Area SCORE (Chapter 631)
Serving Mercer and Middlesex Counties
Tuesday, December 29, 2009
Tuesday, December 22, 2009
How can I use Customer Service for competitive advantage?
Size isn’t everything, especially for providing value to customers.
This important fact can help distinguish small “mom and pop” businesses from big box chain stores. It gives them a powerful competitive advantage in an age when more consumers crave and expect a high level of service and responsiveness.
Your position at the “front lines” of your business gives you direct access to your customers’ needs, attitudes, and opinions. You know the kinds of products or services they want, when they want them, and how best to deliver them.
To gain these valuable insights, you need to proactively assess what you do and should be doing to keep customers coming back, rather than tempting them to try the “big store” down the street.
Start by putting yourself in your customers’ place. How would you like to be treated if you were a first-time customer or a “regular?” Also consider conveniences. What can you do to make it easier to find items and check out, rather than having to navigate a big-box store’s aisles and cashier lines?
Also visit other stores and service centers, including those unrelated to your business. See what they do that you find appealing, and adapt those practices to enhance your business’s customer experience. Similarly, watch for aspects you don’t like, but be sure to understand the reasons behind problems or poor service, such as understaffing and limited inventory. This will help prevent similar problems from arising in your business.
How you connect with customers by phone or email will also help differentiate your small business from the sometimes bureaucratic nature of big-box chains. Answer calls promptly and with a friendly greeting. Avoid putting callers on hold for longer than a minute; take a message and respond as soon as possible. If you use an automated answering system, your customer service line should be one of the first options.
Although it may be impractical to handle email inquiries as they arrive, don’t let them sit for too long. Some email systems automatically generate a response to acknowledge the message. Make sure the text is upbeat and friendly—again, the kind of message you’d want to receive. A promise to respond within 24 hours may not be enough. Designate certain times during the day to handle email queries, or assign the responsibility to an employee.
Richard Strug
Greater Princeton Area SCORE (Chapter 631)
Serving Mercer and Middlesex Counties
This important fact can help distinguish small “mom and pop” businesses from big box chain stores. It gives them a powerful competitive advantage in an age when more consumers crave and expect a high level of service and responsiveness.
Your position at the “front lines” of your business gives you direct access to your customers’ needs, attitudes, and opinions. You know the kinds of products or services they want, when they want them, and how best to deliver them.
To gain these valuable insights, you need to proactively assess what you do and should be doing to keep customers coming back, rather than tempting them to try the “big store” down the street.
Start by putting yourself in your customers’ place. How would you like to be treated if you were a first-time customer or a “regular?” Also consider conveniences. What can you do to make it easier to find items and check out, rather than having to navigate a big-box store’s aisles and cashier lines?
Also visit other stores and service centers, including those unrelated to your business. See what they do that you find appealing, and adapt those practices to enhance your business’s customer experience. Similarly, watch for aspects you don’t like, but be sure to understand the reasons behind problems or poor service, such as understaffing and limited inventory. This will help prevent similar problems from arising in your business.
How you connect with customers by phone or email will also help differentiate your small business from the sometimes bureaucratic nature of big-box chains. Answer calls promptly and with a friendly greeting. Avoid putting callers on hold for longer than a minute; take a message and respond as soon as possible. If you use an automated answering system, your customer service line should be one of the first options.
Although it may be impractical to handle email inquiries as they arrive, don’t let them sit for too long. Some email systems automatically generate a response to acknowledge the message. Make sure the text is upbeat and friendly—again, the kind of message you’d want to receive. A promise to respond within 24 hours may not be enough. Designate certain times during the day to handle email queries, or assign the responsibility to an employee.
Richard Strug
Greater Princeton Area SCORE (Chapter 631)
Serving Mercer and Middlesex Counties
Tuesday, December 15, 2009
What should my accounting records tell me?
SCORE counselor J. Mitchell Sincoff, C.P.A., QuickBooks Certified ProAdvisor, shares with us his thoughts on the basics of reporting your income properly.
The first basic of keeping an accurate set of books and records is that you know whether you can stay in business. Maintaining accuracy is important to determine your cost of goods sold, and thus what the true gross profit of your business is. This will enable you to pay your overhead and most important your salary. Determining your costs and profits can also be programmed per item or service performed. It is important to see if you are priced right in the marketplace.
Can you afford loss leaders and do they bring business in to your establishment? Is your service or labor charges priced correctly to take into consideration all the additional costs of employees? Without accurate records, you can easily guess wrong and go out of business.
Based on this information, major decisions can be made on how your company is really performing: what changes need to be made, where to raise prices, where you can lower prices, which items are selling, and which are not. Plus what costs are too high, where to trim, or cut back on coverage, is it time to expand, and what else needs to be done now or in the immediate future.
Other advantages of keeping accurate books and records that indicate you are properly operating a business are: increased line credit of from financial institutions to help finance additional inventory, renovations, and additional locations. A local banker in Jamesburg recently commented that most of the people who are looking for loans have no idea as to the profitability of their business and are not really clear as to how the loan will be used. When tax and business records are not reconcilable, how can the lending institute grant a loan?
Keeping accurate books and records is also a definite advantage if you are subject to audits by the I.R. S., the State Sales Tax or Income Tax or Unemployment Tax divisions.
In the event you are currently losing money, do you realize you could take those losses off your taxes in the future, or get it back from past taxes you have already paid? A good Certified Public Accountant, or a Public Accountant, using Congressional guidelines can reduce any increase in taxes you may owe and help get you the relief necessary to save your business. He or she will save you, many times, more than their fee is.
So, there are many positives to keeping an accurate set of books and records.
Richard Strug
Greater Princeton Area SCORE (Chapter 631)
Serving Mercer and Middlesex Counties
The first basic of keeping an accurate set of books and records is that you know whether you can stay in business. Maintaining accuracy is important to determine your cost of goods sold, and thus what the true gross profit of your business is. This will enable you to pay your overhead and most important your salary. Determining your costs and profits can also be programmed per item or service performed. It is important to see if you are priced right in the marketplace.
Can you afford loss leaders and do they bring business in to your establishment? Is your service or labor charges priced correctly to take into consideration all the additional costs of employees? Without accurate records, you can easily guess wrong and go out of business.
Based on this information, major decisions can be made on how your company is really performing: what changes need to be made, where to raise prices, where you can lower prices, which items are selling, and which are not. Plus what costs are too high, where to trim, or cut back on coverage, is it time to expand, and what else needs to be done now or in the immediate future.
Other advantages of keeping accurate books and records that indicate you are properly operating a business are: increased line credit of from financial institutions to help finance additional inventory, renovations, and additional locations. A local banker in Jamesburg recently commented that most of the people who are looking for loans have no idea as to the profitability of their business and are not really clear as to how the loan will be used. When tax and business records are not reconcilable, how can the lending institute grant a loan?
Keeping accurate books and records is also a definite advantage if you are subject to audits by the I.R. S., the State Sales Tax or Income Tax or Unemployment Tax divisions.
In the event you are currently losing money, do you realize you could take those losses off your taxes in the future, or get it back from past taxes you have already paid? A good Certified Public Accountant, or a Public Accountant, using Congressional guidelines can reduce any increase in taxes you may owe and help get you the relief necessary to save your business. He or she will save you, many times, more than their fee is.
So, there are many positives to keeping an accurate set of books and records.
Richard Strug
Greater Princeton Area SCORE (Chapter 631)
Serving Mercer and Middlesex Counties
Wednesday, December 9, 2009
How can I improve my networking skills?
SCORE® counselor Alan Yarnoff shares his thoughts on “Networking for Success” in an attempt to help you improve your networking skills.
In this difficult economic period we are going through, it may be time for you to re-examine your current networking process and begin to think more “out of the box.” Now is not the time to rely on traditional networking practices: handing out business cards, attending meetings, and joining local chambers because these tactics will only go so far. You need to become more proactive, since the same old traditional tactics may have reached the point of diminishing returns.
One of the real problems is that most people believe that networking consists of communicating with as many people as possible about yourself and your business rather than the real objective which is to find out as much as you can about the prospects’ potential for you and your business. It is important that the initial conversation focus on understanding your prospects problems, needs and concerns, and getting solid contact information. With this in hand, you can determine whether they would have an interest in the product or services you provide.
If the answer is yes, it’s time to get to work and follow up the initial contact in an actionable way. People have short memories so it is incumbent upon you to remind them that you are the one that can solve their unmet business needs. Send a letter or email with suggestions they could use immediately or send samples of your products or articles you have written that would be useful in building their business. Most important, keep the pressure on until either you get the new client or are asked to stop.
Another way to expand you’re your network is to speak to local groups, organizations and associations about your field of expertise. The object is to transform your experience into an informative, concise, and entertaining presentation that will help the audience improve their business; thereby, positioning yourself as an expert. This will validate your credibility in the local business community.
Lastly you may consider creating a blog for your business. The blog offers you a valuable tool to stimulate a personal dialogue with potential customers and a great way to let your current clients know what’s new with your business.
Good luck and good networking.
Richard Strug
Greater Princeton Area SCORE (Chapter 631)
Serving Mercer and Middlesex Counties
In this difficult economic period we are going through, it may be time for you to re-examine your current networking process and begin to think more “out of the box.” Now is not the time to rely on traditional networking practices: handing out business cards, attending meetings, and joining local chambers because these tactics will only go so far. You need to become more proactive, since the same old traditional tactics may have reached the point of diminishing returns.
One of the real problems is that most people believe that networking consists of communicating with as many people as possible about yourself and your business rather than the real objective which is to find out as much as you can about the prospects’ potential for you and your business. It is important that the initial conversation focus on understanding your prospects problems, needs and concerns, and getting solid contact information. With this in hand, you can determine whether they would have an interest in the product or services you provide.
If the answer is yes, it’s time to get to work and follow up the initial contact in an actionable way. People have short memories so it is incumbent upon you to remind them that you are the one that can solve their unmet business needs. Send a letter or email with suggestions they could use immediately or send samples of your products or articles you have written that would be useful in building their business. Most important, keep the pressure on until either you get the new client or are asked to stop.
Another way to expand you’re your network is to speak to local groups, organizations and associations about your field of expertise. The object is to transform your experience into an informative, concise, and entertaining presentation that will help the audience improve their business; thereby, positioning yourself as an expert. This will validate your credibility in the local business community.
Lastly you may consider creating a blog for your business. The blog offers you a valuable tool to stimulate a personal dialogue with potential customers and a great way to let your current clients know what’s new with your business.
Good luck and good networking.
Richard Strug
Greater Princeton Area SCORE (Chapter 631)
Serving Mercer and Middlesex Counties
Wednesday, December 2, 2009
How can I make my business environmentally friendly?
With climate change and diminishing resources dominating the news these days, small business owners are looking for ways to make their operations more environmentally friendly. Simple steps such as recycling soda cans and turning off lights are a good place to start, but there are many other ways you can make a big difference without a lot of effort and expense. What’s more, these measures will benefit both the environment and your bottom line.
Take energy use, for example. According to the U.S. Environmental Protection Agency’s Energy Star program (www.energystar.gov), cutting energy waste can typically save small businesses as much money and prevent as much pollution, per square foot, as large organizations—including those in leased space. Performed properly, business-specific energy efficiency upgrades can provide a positive cash flow right from the beginning.
Some “sure energy savers” include replacing incandescent light bulbs with Energy Star-qualified compact fluorescent lamps (CFLs), which cost about 75 percent less to operate, and last about 10 times longer. Regularly changing heating and air conditioning filters and investing in regular “tune-ups” will also keep the system operating as efficiently as possible.
Making greater use of email and electronic file transfers are sure to cut down on the amount of paper your business uses. If your business relies on incoming or outgoing faxes, a computer fax modem will enable you to exchange these documents without the need for making printed copies.
There are likely more recyclable items around your office than you realize. Your municipal solid waste department can provide information on materials and recycling procedures. Another good source is the Electronic Industries Alliance’s e-Cycling Central Web site at www.eiae.org, which provides information on finding local agencies and organizations that will recycle computers and printers. And, many charities accept unwanted office furniture for repair and reuse by other businesses, organizations, schools, and charities.
Purchasing products and equipment made from recycled or sustainable materials is also a good way for small businesses to do right by Mother Earth. According to GreenBiz.com, recycled-content products typically perform as well or better than virgin products and often are competitively priced. And when it’s time to upgrade computers or appliances, purchasing Energy Star-qualified products will ensure that you’re getting the most from every kilowatt of power.
Richard Strug
Greater Princeton Area SCORE (Chapter 631)
Serving Mercer and Middlesex Counties
Take energy use, for example. According to the U.S. Environmental Protection Agency’s Energy Star program (www.energystar.gov), cutting energy waste can typically save small businesses as much money and prevent as much pollution, per square foot, as large organizations—including those in leased space. Performed properly, business-specific energy efficiency upgrades can provide a positive cash flow right from the beginning.
Some “sure energy savers” include replacing incandescent light bulbs with Energy Star-qualified compact fluorescent lamps (CFLs), which cost about 75 percent less to operate, and last about 10 times longer. Regularly changing heating and air conditioning filters and investing in regular “tune-ups” will also keep the system operating as efficiently as possible.
Making greater use of email and electronic file transfers are sure to cut down on the amount of paper your business uses. If your business relies on incoming or outgoing faxes, a computer fax modem will enable you to exchange these documents without the need for making printed copies.
There are likely more recyclable items around your office than you realize. Your municipal solid waste department can provide information on materials and recycling procedures. Another good source is the Electronic Industries Alliance’s e-Cycling Central Web site at www.eiae.org, which provides information on finding local agencies and organizations that will recycle computers and printers. And, many charities accept unwanted office furniture for repair and reuse by other businesses, organizations, schools, and charities.
Purchasing products and equipment made from recycled or sustainable materials is also a good way for small businesses to do right by Mother Earth. According to GreenBiz.com, recycled-content products typically perform as well or better than virgin products and often are competitively priced. And when it’s time to upgrade computers or appliances, purchasing Energy Star-qualified products will ensure that you’re getting the most from every kilowatt of power.
Richard Strug
Greater Princeton Area SCORE (Chapter 631)
Serving Mercer and Middlesex Counties
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