Author Archives: Kim Clark

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It’s in the Bank

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Are you happy with your bank? Do you consider what you pay in fees to be a good value for the services provided? Do you consider your bank to be a source of support for your business? If the answer to any of these question is “no” or “maybe”, read on.

The choice of a bank is a serious decision in our personal and business lives and size matters,  as regards the account,  business or personal,  and the bank as an entity. As with all planning,  the expected needs of the individual and/or the business must be considered when choices are made. Banks have become competitive and expensive over the past couple of decades and as a consumer and a businessperson, you owe it to yourself to get the most for your money and your needs met as you do.

As a private citizen,  you may want to buy or refinance a home,  make home upgrades, or finance your child’s education.  As a business owner or Freelance consultant,  you may have equipment or technology upgrades,  growth and expansion plans that will benefit from outside financing.  Whatever your financial plans,  a helpful banker will be an essential building block toward the realization of  your goals and obligations.

How should Freelancers and business owners choose a bank?  A good way to start is to identify two community banks,  two regional and two large national outfits and pay each a visit.  Walk in and ask to meet the business banker,  who is also usually the commercial loan officer.  If you need an appointment make one,  so that you will have time to talk.  Tell this individual about your business and your plans and perceived needs.  How can the bank augment and support your business?

If business credit is a priority, ask these two questions:

  1.  What is the amount of the credit line that the business banker can personally approve?
  2.  Does the bank offer SBA loans and is it a Preferred SBA Lender and able to approve and underwrite such loans independently.  How much SBA loan business is done and what percentage of applications are approved?

Below is a general guideline as to what type of bank is likely to be appropriate for your business venture.  Remember to ask about merchant credit card processing fees if you accept cards.

Community banks

  • Freelancers, small  and medium businesses
  • Fees can be on the high side
  • Technology can be slow or not comprehensive
  • Service is typically excellent. This is old-fashioned banking.  Customers are taken care of. The tellers and managers know you.
  • Loaning decisions are made locally. They know you and your business. They want to help.  Your character will count.

Regional banks

  • Small – medium size businesses that plan to grow
  • Fees are average
  • Technology will meet expectations, the basics will be available
  • Service is usually good, the regionals are capable of delivering personalized service
  • Loan decisions will be made with an eye to the local economy, along with what your financials indicate about your ability to repay

National banks

  • Medium-large business that do out-of-state and/or international business
  • Fees are usually the lowest available, the result of economies of scale
  • Technology will be the most cutting-edge available. Banking can be almost entirely done online.
  • Service is often impersonal because staff turn-over is often high. No one knows you for long. Decisions are not made locally at the branch level.
  • Loans are issued strictly by the numbers, the manager will not be able to give you the benefit of the doubt.

Thanks for reading,

Kim

 

 

Administrative , Leave a comment

Dialing In: Conference Call Meetings

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Meetings are an essential forum for exchanging information and making plans.  The ability to run an efficient and productive meeting is a marker of good leadership (please see my post Meeting Maestro January 26).  From time to time,  at least one meeting participant must conference in by telephone, FaceTime,  or Skype.  In some meetings,  none of the participants will be in the same room and they may not be in the same time zone.  Last week I chaired a meeting of six and three dialed in.  Can we take a minute to make sure we are managing our conference call meetings to bring about optimal results?

The ability to dial in to a meeting is so convenient and absolutely necessary when team members reside in far-flung locales.  The primary downsides of distance are the lack of visual cues and diminished subtleties of voices impacted by telecommunications equipment.  FaceTime and Skype bring real-time images,  but the out-of-sequence movements are less than ideal.  There is no remedy for the missing personal vibe.  Communications experts recommend that we accept these limitation and maximize the advantages.  The secret to running  a successful conference call meeting is to KISS Keep It Simple and Serious–all business and limited small talk.

Step 1 is to schedule the call, send the dial in and access codes to participants and attach the meeting agenda.  Step 2 is to send a reminder notice 24 hours ahead of the call time and to remind participants to have available the agenda and any additional hand-outs you’ve attached.

Step 3 is to be punctual.  The convener should have the call live 5-7 minutes ahead of time and those who dial in should call in by phone or set up their computer 3-5 minutes ahead of the scheduled time.

As callers sign on, signaled by the chime,  the convener will greet callers and ask each to identify themselves and thank them for joining the call.  As new callers arrive,  review who is already on the call.  Make introductions of name, title,  role and reason for being invited to the call as needed, so that everyone is fully apprised of who has what purpose and who might answer which questions.

As noted above, jokes and banter tend to fall flat in telephone or video meetings.  Just matter-of-factly get down to business. Convey information;  ask questions;  settle on next steps and the timetable. Everyone will appreciate that you’ve done so.

Because verbal skills are all that is available in conference calls (and to a lesser extent,  verbal prevails in video calls as well),  communications experts stress that the convener must speak clearly,  loudly enough to be heard and with authority.  Think newscaster.  It’s also recommended that those who speak should be able to hold the floor a little longer than perhaps would be done in a face-to-face meeting.  Also, wait two seconds after the last person has finished speaking before you start to speak.  Simultaneous speaking goes over even less well in a conference call.

Step 4 is that the convener must control the pace of the meeting,  whether all or some of the participants have dialed in.  Pay attention and focus on what the callers say.  Step 5 is to take notes and repeat important points as you go along.  At  the call’s conclusion, thank participants once again for their participation.  Step 6 is to recap key decisions, actions and timetables and adjourn the meeting.  Send around the meeting notes within five days

Thanks for reading,

Kim

Professional Development , Leave a comment

Getting and Giving Advice: Skill Set

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In the Peanuts comic strip, the character Lucy would regularly set up a mobile office with a sign that read “Advice 5 cents.” Asking for and being asked for advice is an integral part of our personal and professional lives. It is surprising that we do not assign a higher value to the process or train ourselves in its nuances.

Giving useful and timely recommendations and advice are the essence of coaching, consulting, leadership, management and parenting.  There are right ways and wrong ways to deliver even positive reviews, let alone the evidence of gaps or missteps.  Spending some time learning about the process of giving and getting advice is an important element of leadership development.

Over the next few weeks,  I’d like to explore different aspects of the exchange.The whole business of advice is potentially fraught.  Offering unsolicited advice can cause others to see one as controlling or a busy-body.  Feelings can be hurt, people can feel threatened or violated.  Offering advice or an opinion  even when asked can also lead to an unfortunate outcome, because the asker may be looking not for an expert or unbiased opinion or guidance, but rather validation.  Certainly we’ve all experienced the uncomfortable feeling when the advice seeker turns blatantly testy because the desired response was not given.

Keep in mind that well-honed listening skills are essential when one takes on an advisory role.  Attention must be paid to the question posed and what may motivate or be at stake for the asker.  Diplomacy, self-control,  discretion and emotional intelligence are likewise required attributes and behaviors.  Ego gratification, a need for control, or other self-serving behaviors have no place in the process.  Self-awareness is part of the equation and humility as well, because if one is not qualified to give advice or guidance on a given matter, that must be communicated.

Respecting bounadaries is key.  The terrain of unsolicited advice is usually best avoided—but the concept presents an ethical dilemma when we witness someone we know and care about slide into near-certain disaster born of poor judgment or timing.

Finally, determining the type of solution one would be wise to recommend to the asker, as well as the amount of follow-up and other post-request involvement should be taken on,  calls for good judgment and strategic thinking.  How can you be fair to both the asker and yourself?

The next time you seek or are sought out for advice, keep what’s been mentioned here in mind and stay tuned for more discussion.

Thanks for reading,

Kim

 

 

 

 

 

Marketing , , Leave a comment

The Content of Content Marketing

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Content Marketing continues to have a life of its own, riding a wave of non-stop hype. But what are all that text and all those images floating through space really worth to your business? I edit two newsletters,  one short and sweet,  the other several pages long and filled with lots of text and photos. One newsletter I assemble myself by reaching out to obtain snippets of relevant and timely new information and an image or two each month.  The second I solely edit and what a laborious process it is to slog through all that dense text!  Can you guess which entity generates the most revenue and profit?

Why, the owners of the short newsletter that gives splashes of fresh info every month plus one or two new pictures, of course.  Those organization leaders do not bury themselves in the labor and expense of high-maintenance content marketing.  They are instead pursuing clients and making money. They are not merely busy; they are productive. They know their role as business owners.

If you can build and maintain a good stable of clients without a web presence, by golly I say you should do it. Truth be told,  most of the most successful business owners and Freelance consultants that I know have no website and no social media.  Instead, they are known and trusted by clients and referral sources.  They are going to the bank and not to their keyboards or video cameras to crank out “content”.

Enter the experts

The short answer is,  if you’ve done something successfully a number of times,  you can claim the title.  However, there is also the axiom “Those who can do and those who can’t, teach.” My client who has enlisted my services for the production of the monthly weighty tome hasn’t had a client in something like five years (I’m serous). She swans around speaking on panels, moderating panels, writing articles for a couple of journals that don’t pay (I edit those as well) and overall being a very busy girl. But I’m not sure how she pays her mortgage. Trust fund?

Noise makers

Everybody with access to a keyboard or a camera is doing some level of content marketing,  even if it’s only for themselves and their Twitter friends. Everybody’s pulling out a cell phone to snap pictures of something—the first snowfall,  the first crocuses and at the Boston waterfront a couple of weeks ago, when the air temperature was minus 10 and the Atlantic Ocean was about 40 degrees,  the fog that was rising from the water as a result of the 50 degree temperature difference (it was quite a sight). all those photos become content posted to social media.  It’s all noise that competes with what Freelance consultants and other business owners are aiming to do,  that is,  get the attention of potential clients and referral sources.

Branding is not personal

Supermodels and a certain group of raven-haired sisters (and their mother) in southern California seem to have done very well with the personal branding concept,  but that doesn’t hold for the rest of us.  Unless you were lucky enough to have held a job that allowed you to publicly build a reputation amongst prospective clients,  or you descend from a prestigious family,  the differences that you (and I) point out to clients are only differences and not distinctive competitive advantages.  We are the same, only different.

Strategic, original, relevant, concise

If you have the time and inclination to delve into the content marketing fray,  be strategic about the process, most of all. Have a clear and defendable purpose.  My purpose for producing this blog since June 2009  has been to

1.demonstrate that I have good business judgment

2. demonstrate my writing skills

I’ve referred prospective clients to the link for this blog and the strategy has been successful.  I’ve gotten at least three clients,  including a (modest) book editing assignment,  my first. Editing two newsletters also helped me to snare that gig.

Further,  read about business topics in places like The Financial Times,  The New York Times, Business Week,  Inc. Magazine,  the Harvard Business Review and other credible sources. Those can become your inspiration,  along with your owned lived experience,  to generate original content.  Do not bother to try and pass off groupings of links to articles as your blog or newsletter content.  Do not insult people.

Finally,  whatever your topic, two and a half pages of text, or 1000 words, has got to be your max. When writing this blog,  I start thinking about creating a two-part post if I surpass 800 words. Attention spans are not what they used to be in this noise-filled arena of experts.

Thanks for reading,

Kim

 

 

 

 

 

 

 

Business Plan , , , Leave a comment

Plans For Your Business

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Whatever the health and condition of your Freelance business venture, you will at some point benefit from planning.  Business planning of any type provides a roadmap that will help you to successfully achieve your business goals.  Business planning can be instituted when sales are tanking and you need to find a way to improve billable hours.  Or you may have decided to aim for larger assignments  or roll out new services and need to figure out how to make it happen.

I’ve taught business plan writing for 7 or more years and I’ve also developed a one-day business plan writing workshop. As I see it,  the process of writing a business plan gives the writer (or the team) many opportunities to think things through and  get the magical thinking out of one’s head. The business plan shows us first,  if the dream is potentially viable and second,  how to make the dream a reality.

The plan you write will depend on what you set out to achieve.  If you’re launching a start-up that will involve significant outside investment,  then you’ll need a very detailed plan that focuses on financial projections;  marketing plans that delve into customer acquisition, the competitive landscape, the product or service launch, messaging,  sales distribution; and operational aspects such as manufacturing,  staffing and quality control.  Freelance consultants will mostly focus on marketing, in particular defining the target clients,  client acquisition; providing the right services; appropriate pricing; and the budget to pay for their marketing strategies.

Whether your plan will be used to launch a big venture and attract outside money,  or is a boutique style service provider, include the following elements in your plan.  Even if you’ll be writing what amounts to an extended marketing plan used for a one-person shop,  it will be a good exercise to include these elements, because you’ll be encouraged to think seriously and strategically about your mini-enterprise.

EXECUTIVE SUMMARY

Present the business mission statement. Include as well the date when the business was formed; key management personnel; your unique credentials or experience that make you especially suited to start and successfully run the venture; the business legal structure (LLC, Sole Proprietor, or Corporation); the products and services; one or two key competitive advantages (maybe you have a patent?); sales projections; and the amount of capital needed (if you’re looking for investors).

BUSINESS DESCRIPTION

It’s traditional to present a brief description of your industry and its outlook,  nationally and regionally. give the details of your products and services and competitive advantages. Identify whether your venture is B2B, B2C, or B2G. If you hold a patent,  detail the competitive advantages that it will convey. Have there been any technological advances that will help or hinder your business?  Divulge here.

MARKETING

The category is a big tent that encompasses sales, product or service distribution,  competitors, advertising,  social media, PR,  networking,  branding, customer acquisition and pricing. The plan written for a mall organization will essentially consist of an extended marketing plan, because for Freelance consultants,  success hinges on identifying and reaching clients who will pay as well as pricing the services advantageously.

FINANCING

Whether you’ll self-finance because you’re wealthy enough,  or the venture is small and  not especially demanding of capital investment,  you nevertheless need to know with a reasonable degree of certainty how much you’ll need to spend to carry out the plan ( that could be a new product, or the purchase of something big, or a marketing plan, for example).  If your strategy is to attract investors,  they’ll need to be convinced by your projected sales revenue figures,  because they’ll want to know when they’ll be paid back or know when to expect profits if they are made co-owners of the business.  A break-even analysis, projected income statement, projected cash-flow statement and projected balance sheet are required by those who will need significant money.

OPERATIONS

How will day-to-day business processes function?  Tell it here,  along with providing the organizational chart,  the business location,  the method of producing that which you sell (if you are,  say,  a Freelance book editor or  graphics specialist,  you produce the service yourself),  your sub-contractors (if you are a special events organizer,  who is your usual caterer, florist,  limo service, etc.?) and quality control methods.  This element is about logistics.

For more information on writing a business plan,  visit the Small Business Association website https://www.sba.gov/tools/sba-learning-center/training/how-write-business-plan

Thanks for reading,

Kim

 

 

 

 

 

 

 

 

 

 

Survival Strategies , , , , Leave a comment

Online Reputation Management

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Shakespeare, in Act 2 of his circa 1603 play Othello, said it best: Reputation, reputation, reputation.  It is the original personal brand and one of the defining realities of our lives.  As a Freelance consultant, reputation governs the projects offered to us and therefore, our income and the kind of life we’re able to live.  It pays,  in more ways than one, to cultivate a peerless reputation and guard it vigorously.

In the internet age  that is especially so, in both the personal and professional spheres.  Mistakes and mischaracterizations made in digital formats are extremely difficult to dodge, ignore, deny, or correct.  One’s online reputation is the ultimate flypaper.  Take steps to ensure that what sticks to your name is all good.

Images

Along with Facebook, Twitter and YouTube, Instagram and Pinterest are the sites where images of you are most likely to be posted,  by yourself and others.  When cameras are around,  meaning whenever anyone has a cell phone,  which is about 24/7,  make sure that your behavior represents you and your brand well.

There’s nothing wrong with being photographed in an obviously casual gathering—just make sure that you (or others) are not in the midst of activities that could be misconstrued and reflect poorly on you sometime in the future.  If you regularly appear in photos that you know or suspect will be posted to social media sites, counteract with a photo of your own that shows you at work, paid or volunteer. Balance your accounts, so to speak,  and show that there is more to you than non-stop partying.

Content

Create and regularly post original content that makes you look smart, professional and successful.  On your LinkedIn account, announce when you will attend a symposium,  serve on a panel,  teach a course or workshop,  or have recently earned a professional certification or advanced degree.  If you’ve presented a webinar,  request the replay and turn it into a podcast for your website and YouTube.  If you write a newsletter or blog,  link to your website and LinkedIn.  If you’re on Twitter or Instagram,  produce streams of high-quality feed and images that convey the competencies and values that you want to be known for.

Twitter, Instagram and Facebook can feature glimpses into your personal life as well and it could all be for the good,  as long as you are strategic about what is revealed. Your volunteer work is always a safe bet.  Training for a marathon or even a fun and casual volleyball or softball league would be excellent.  Your parent’s wedding anniversary party would make another good personal aspect to include in your online narrative.  Be aware that narrative is the operative word.  Create the story that you want to be told, in a manner that makes you look wonderful.

Search

About every three months,  search your name and your company name in engines such as Bing,  Google and Yahoo and see what comes up in the first 50 listings.  Are you happy with what you see?  Try keywords related to your business along with your city and check your professional reach in a more profound way.

If you find that your business has been reviewed in an excessively negative and inaccurate way,  contact the reviewing site and request that the offending post be removed.  If customers have offered criticism that just may be constructive, address the matter.  Apologize and offer your side of the story.  Make amends if possible.  By doing so,  you’ll add to your credibility and customer service reputation.

It’s been reported that 70% of US employment recruiters have rejected potential job candidates when something about them that was considered unsavory appeared on social media.  Freelancers should assume that prospective clients will do the same.  Maintaining and monitoring your online reputation has never been more important.

Thanks for reading,

Kim

Marketing , , Leave a comment

The Elements of Your Brand Story

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A perennially engaging way to tell clients and prospects about you and your business venture is to spin a good story, ideally one that contains a compelling case study that spotlights your problem-solving ability, creativity and expertise. Everyone enjoys and remembers a good story; they usually feel connected in a positive way to people who tell them well. Expert storytellers have the ability to captivate an audience and gain their trust.

You may never become a TED Talk-worthy storyteller, but it’s still possible for you to devise a more than adequate brand narrative that effectively illustrates what you do; describes your typical clients; and gives an overview of the positive solutions that you create for clients. Your ability to tell the story will improve along the way.

Consider storytelling to be an element of your leadership development process; the most highly respected and popular leaders are excellent communicators and good stories are often included. Those leaders are persuasive. They are likable.  They generate trust and respect and there is great confidence in their abilities. As you brainstorm the elements of your brand story, try organizing your thoughts around the following:

  1. Who you are and what you do

Share a sliver of your personal details, to help your audience understand who you are and what matters to you. Don’t be afraid to break out of the expected corporate mode (while maintaining your comfort level boundaries). Segue into the services that you provide and/or products that you sell. Be succinct, clear and thought-provoking as you describe the needs or problems that you and your team address and resolve.

There may be no distinguishing factors to your work philosophy, but do mention your commitment to excellence and exceeding expectations. Inserting a paragraph about your volunteer work could be helpful. Whether your volunteer work is with those who are trying to improve their professional skills or in some aspect of the arts, that knowledge gives prospects and clients a good sense of your values and portrays you as a community-oriented, well-rounded professional.

2. Why / For whom you work

Name the usual customers that you work with: Fortune 1000 life sciences companies, small not-for-profit arts organizations, or whatever in between.

3. How you do it

Insert case study. The challenge is how to describe what you do without betraying client confidentiality, your proprietary secret sauce,  or overloading your audience with confusing details.  On which projects did you (and your team) deliver the goods that made a difference? Write it down, edit well, rehearse out loud and perfect the telling.

4. Outcomes / Proof of success

Potential clients must feel confident that you and your team will meet, if not exceed, their expectations.  Sharing an example  of a compelling client success story paints a picture of you in action and at your best.  Start with a description of the challenge or difficulty that these clients faced when they came to you.

Next, in simple and concise language (and preserving client confidentiality), explain selected highlights of what you did to achieve the desired results and why you chose that particular course of action. Conclude with an overview of the key benefits that the clients have received now that they’ve worked with you.

Tell case study stories that encourage prospective clients to identify with the challenges or problems that you resolved, so that they will be inclined to feel that hiring you is a smart move, one that will make them look good in the eyes of their superiors, colleagues and staff.

Thanks for reading,

Kim

 

Administrative , Leave a comment

Meeting Maestro

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The ability to run a good meeting is widely regarded as a hallmark of a competent leader.  Meetings are important forums for communication and the development of goals and strategies that will move an organization forward.  When designed and conducted correctly, they promote understanding, cooperation and bonding and lay the groundwork for productive and satisfying teamwork.  Yet unfortunately, many meetings are useless time-wasters that result less in action and more in frustration.

I facilitate meetings for a living (mostly strategy planning, at for-profit and not-for-profit organizations) and I think the reason I’ve chosen this path is because I’ve been forced to attend so many meetings that have been a complete insult, such a huge waste of time that years later, the bad memories continue to haunt me.

Respectfully, I offer readers suggestions on how to run a meeting that will make you look good, from pre-meeting preparation, to your opening remarks and the conclusion.

I.      Create an agenda

People want to know what to expect and understand why they’ve been asked to attend.

II.     Invite stakeholders only

People want to feel that their presence at the meeting is crucial to the development of a resolution.  Be selective in who you include; most meetings should not be open forums.  Invite those who care about the outcome of the subject under discussion and are willing and able to contribute to its resolution.

III.    Arrange a convenient date, place and time

Send an email and propose two or three possible meeting dates and times.  If there are any on your invite list who must be in attendance, clear the dates with them first, then invite a wider circle.

IV.     Send a meeting reminder, attach the agenda and hand-outs

Two or three days before the meeting, send out a reminder and attach the agenda and meeting hand-outs.

V.      Confirm the meeting room and A/V equipment

It is advisable to first check the availability of the preferred meeting location and once specifics are confirmed, quickly reserve the room and audiovisual equipment that you will use (sreen, microphone, podium, LCD for Power Point, etc.). Just before you send out your meeting reminder, confirm that what you’ll need will be in the room.

VI.     Verify that A/V equipment works

Audiovisual equipment loves to malfunction.  Do a test run and de-bug the system if necessary.  Your mission is to make the transition from participant arrival to the meeting’s start seamless.

VII.    Bring hard copies of the agenda and hand-outs

Precious few people will print out the meeting materials and bring them along.

VIII.   Start on time

Be respectful of participant’s time.  Starting 5 minutes late is OK, start sooner if all have arrived.

IX.     Welcome and purpose statement

Thank everyone for making the time to attend and then state what the meeting will help to achieve.  Keep the purpose statement simple, ideally something that can be stated in two or three sentences, tops.

X.      Encourage participation

Bringing out good ideas is what meetings are all about: capitalizing on the creativity, resourcefulness and ingenuity that group synergy can produce.

XI.     De-fuse agitators and hijackers

Meeting hogs are to be discouraged. There may be someone in the room (alas, perhaps an ally) who is genius at pulling the meeting off-agenda and dragging it into the weeds on subjects that may be worthwhile, but would be best discussed in another venue.  Should such a statement be made, thank the person for bringing it up, since it’s probably related to the topic, but simply state that time must be devoted to the agenda and other off-shoots will benefit from discussion at another time and forum.

XII.   Sum up and end on time

Whenever possible, end the meeting on time and early is even better.  Most of all, achieve the meeting objectives.  Review and confirm all action items and individual or team responsibilities.  Within a week, send the meeting minutes to all who attended (and maybe a higher-up who should be kept in the loop), taking care to put all agreements and time tables in writing.

Thanks for reading,

Kim

 

 

Administrative , , Leave a comment

Stepping Up Your Game: Office Space

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Working space matters.  We spend many hours at work and the place where we do our job can impact the quantity and quality of the work produced therein.  Freelancers often brag about our ability to work from home,  or the coffee shop,  library,  vacation house,  or wherever,  but these environments may bring many distractions that have the potential to de-rail concentration or creativity.  Furthermore,  none are a suitable location into which an A-list prospective client can be invited for a serious meeting.

If you find that you need an office outside of your home,  perhaps it’s because you’ve hired others to work with you and a home office is no longer practical and appropriate?  Your office,  regardless of the configuration that you can afford,  is an extension of your brand.  It must represent you well.

If your goal is to attract bigger budget clients,  then you must demonstrate in many ways that your operation is capable of delivering more complex products or services.  You must instill confidence in those who you ask to hire you. That will almost certainly entail contracting for good office space.  At last,  it’s time to move out of the house.

Co-working space

This is often the first place that Freelancers and entrepreneurs consider when it’s time to move from a home to a formal office.  Think of co-working as moving in with roommates.  Lay-outs vary,  but you’ll have dedicated work space that will feature a greater or lesser degree of privacy.

Besides your discrete work area,  all other spaces are common and amenities are shared. You’ll gain the use of resources such as a photocopy machine,  scanner,  conference room with basic audiovisual equipment like LCD for Power Point presentations and a screen.  There will probably be a kitchen,  or at least a coffee and tea maker, microwave and a refrigerator.

Many co-working spaces are exclusive to a particular industry (tech, usually).  They’re designed to encourage networking and referral building,  because they are populated by small operators who tend to outsource functions such as website building,  graphic arts,  accounting,  HR,  or bookkeeping, for example.

But like living with roommates,  privacy can be a challenge because so much is out in the open,  including perhaps the desk space.  Book the conference room for important meetings.  Or maybe confidential meetings could be held in a local coffee shop, ironically,  where anonymity could work in your favor.

Shared prestige

Some co-working spaces are in luxury commercial buildings that have lost a big client and the owners make up the lost revenue by renting out to those who seek the prestige of a great office,  but only for a fixed amount of time each month,  when they need to impress a client or prospect.  An office share is probably a more accurate term.

Typically,  there is a receptionist who calls when an appointment arrives and you come out to the desk and greet your VIP,  pretending that you can afford an elegant office on a full-time basis.  You’ll most likely have the use of a lovely conference room or maybe two.  You will have a proper office with a door that closes,  giving privacy.  You’ll have a great kitchen,  high-end photocopy machine and other standard office amenities,  too.  The receptionist may also answer your office land line and then forward calls to you,  which you can return at your convenience.  If it’s set up correctly,  no one will know that you’re in a share.

Private office

An office suite,  even a small space,  is a big financial commitment; commercial leases are often three years and difficult to break.  You must have a good handle on your projected revenues.

Think carefully about your staffing needs to determine the square feet that you’ll rent.  Do you anticipate hiring an administrative assistant and others to work with you in some capacity? There must be space to accommodate these workers,  even if they are not in-house 52 weeks/year.  Whether or not they are likely to all be in the office simultaneously is another consideration.

The types of work stations that different workers will require is another important consideration (as are the computer software programs they’ll need to do their jobs).  The size of the desks and the type of chairs matters,  as well. Ergonomics count,  as its use decreases the risk of developing back and neck aches and promotes productivity.

Finally,  there is the issue of the floor plan.  Open plans are popular,  but the office cubby gives more privacy.  Will you,  the boss,  have a private office,  or will the open plan work for you as well,  communicating that you are a team player?  Will you need a conference room?  Speaking with an office planning specialist could be money well spent.

Thanks for reading,

Kim

 

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Going Forward: Employee to Freelancer

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The Freelancers Union  http://freelancersunion.org estimated that in 2013,  there were more than 53 million self-employed workers (in many permutations and degrees of earning power,  from fashion photographers,  to technical writers,  to Uber cab drivers) in the U.S.  That represents an astounding one third of the American work force participating in Freelance employment at some point during the year and it’s predicted that the number will only trend upward.

Plan to succeed  is the credo of every self-employed professional.  Effective planning requires one to first anticipate events and conditions that may be encountered and  then devise strategies that will overcome obstacles,  or at least lessen their likely impact,  and as well capitalize on expected opportunities.  Before you invest money and time on a mission to go it alone,  consider these realities.

No free tech help

Santa gave me an iPad Mini tablet for Christmas and the external key board that is part of its case quit functioning after three days.  The online advice that I hoped would help me to restart the thing was not useful.  I suppose a (time consuming) trip to the Apple Store must be made,  because I cannot ask a tech support colleague to rescue me.  At some point,  there will be a technology related glitch for every Freelancer: Power Point will embarrass you.  The printer will frustrate you.  You’ll be unable to install  your new software.

Taming home office distractions

Working from home requires real discipline and focus and potential distractions are everywhere.  Unless the call is from a client or business associate,  it may be advisable to refrain from answering calls (or emails/texts) from friends and family until lunch time or after hours.  If you have small children at home,  take them to day care or hire a nanny or other care taker to supervise their activities.

Ringing doorbells,  the television,  social media sites,  grocery shopping,  pet needs and house work can also undermine your work schedule.  If you foresee potential challenges to your ability to be productive In a home office,  then investigate co-working spaces.

Co-working arrangements can be very beneficial.  The office supplies,  meeting rooms,  A/V equipment,  coffee/tea and maybe even a co-working buddy who will provide some free tech advice will be available in the rental fee.  As an added bonus,  networking opportunities,  billable hours and camaraderie can arise from co-working colleagues.

No colleagues to commiserate with

Business owners and Freelance consultants work harder and must meet or exceed very high expectations,  every time.  It is easy to feel overwhelmed,  especially in the early days of running your venture.  At your job,  there was most likely someone who understood the nuances to talk you through things.  Now,  there is only you.

Joining a neighborhood business association,  professional association and/or your local chamber of commerce will give you numerous opportunities to meet self-employed professionals much like yourself.  Get to know a select few and create a support network for each other.

Moreover,   it is certain that you will have opportunities to receive and perhaps also lead  professional development programs that demonstrate  your expertise and leadership skills in the company of your peers.  You and your colleagues will be looking to make referrals for one another.  The time and money you invest in such organizations can pay real dividends and help you succeed as a Freelancer or business owner.

Needless to say there are other factors involved in the transition into the self-employed sector,  for example the requirement to find and purchase medical and dental insurance and set up a retirement account that works for you.  Launching even a solo freelance consultancy takes careful planning.  The more you can anticipate and prepare for,  the more successful your venture is likely to be.

Thanks for reading,

Kim