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Get Your Arms Around Content Marketing

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Was it two or three years ago that the term  “Content Marketing ” entered the marketing lexicon?  I first addressed the subject in March 2013  https://freelancetheconsultantsdiary.wordpress.com/2013/03/05/content-marketing-is-the-new-ad-copy .  Back in the day,  advertising strategy focused on which publications would reach the most potential customers at a price the business could afford.  Depending on your business,  traditional advertising can still deliver the desired ROI,  but Content Marketing cannot be ignored.  It is the conduit to engaging with customers on a granular level.  Through it,  we are able to reveal our understanding of customer priorities and challenges,  build trust and credibility as a result of that understanding and demonstrate how and when they might benefit from using our products and services  (and in that order,  BTW).

KISSmetrics CEO Neil Patel defines Content Marketing as  “…the way for a business owner to educate your customers and potential customers about your products and services.  The goal is to offer tips,  help and education about anything that can be helpful to a customer.  This kind of information can be shared in the form of a blog, white paper, webinar, video or social post.  The opportunities are endless.”  Michael Brenner,  a Forbes Magazine Top 40 Social Media Marketer and head of strategy at NewsCred,  points out that  “Small businesses don’t have the luxury of massive ad budgets…they need to drive brand awareness and (sales) leads with limited resources.  Content Marketing is a great way for small businesses to do both.

Great.  Now let’s get you started on creating Content that’ll do some good.  First,  define the Content you should create,  i.e. the Content that your customers value,  presented in a way that will make them tune in to your message.  Think carefully and from the customer’s viewpoint about the reasons that they use your product or service: what are they trying to achieve and what information would they appreciate as they strive to examine and resolve that process?  Chatting with customers about their business goals and challenges and getting a better handle on where your products or services fit in will give you some guidance.

Shelly Kramer,  CEO and founder of V3 Integrated Marketing,  insists that you will benefit from applying what you learn from your research to your strategy and,  just as important,  commit it to writing.  “Write down your strategy.  The key is to tie your overall business goals and objectives into your Content Marketing strategy”,  she says.  Kramer is very astute as she reminds Freelancers and business owners to remember the big-picture marketing strategy for the enterprise and incorporate Content Marketing,  including social media,  in that picture.  “Social and Content have to work together in order for you to be successful….you can’t have success with Content without a robust presence in the social media space and….understanding the role that fresh,  relevant Content and social media channels play.  There is great Content being published on corporate blogs on a daily basis that no one ever sees.”

Next,  choose your delivery system.   Do customers visit your website often?  Then maybe posting a white paper once a month or writing a weekly blog will work for you.   Are customers part of your LinkedIn group,  Facebook fan page,  or do they follow your business on Twitter?  Add those icons to your email signature block and your website to make social media connections that alert customers to your Content an easy process.   A monthly newsletter is another great Content Marketing strategy.  It’s the savviest form of email marketing  (include an opt-out feature).

Fresh and relevant are your operative words,  as Kramer notes.  Volume,  value and variety are your other guideposts.  Brenner says “(Volume)….starts with this notion that you need to be present in our always-on,  always connected world.  The second thing is value.  Your Content has to be good.   I always recommend that brands identify what they want to talk about and then make every effort to produce as much valuable Content around those topics as often as possible.  The final tip is about variety.   People (and search engines)  reward those brands that deliver value in multiple ways,  so think about text-based articles,  videos,  SlideShare presentations,  research reports  (white papers) and all the different things we consume across the digital,  social and mobile web.”

How do you measure ROI and recognize success?  Patel offers 3 specific steps:

  • Track Content views
  • Use Google Analytics (free) to track which types of Content drives visits to your website
  • Measure your search traffic

Patel advises “You have to give it time.  Don’t expect great results in 3 months or 6 months,  but you will see traction.  Within the first 3 months you should see more traffic to your site.   Within a year you should start to see good results and an opportunity to monetize traffic on your site.”  Patel concludes  “Good Content Marketing builds trust.  If someone trusts you,  they are more likely to buy your products and services and more likely to tell their friends and family.”

Thanks for reading and Happy Thanksgiving,

Kim

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Open Enrollment: Freelancer’s Health Insurance

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Open enrollment for 2015 Affordable Care Act health insurance began on November 15.  Individuals who earn maximum $46, 680 and families of four (couples with two dependent children) that generate a maximum total income of $95, 400 are potentially eligible for a tax credit that will help defray the cost of insurance premiums. In tax year 2015,  the penalty for not carrying insurance will rise from $95 to $325,  or 2% of household income,  whichever is greater.

Business entities of 50 or fewer employees and located in Delaware,  Illinois,  Missouri,  New Jersey or Ohio can set up a Small Business Health Options Program (SHOP) account by completing an application that determines eligibility and if accepted,  investigate plans and prices and contract with an insurance company.  A 2014 University of Chicago study found that 2013 insurance prices offered through SHOP exchanges in 26 states were on average 7 % lower (about $220) than comparable insurance bought outside of the SHOP exchanges marketplace.

Freelancers and small business owners who did not buy health insurance in 2014 will need information to guide decision-making about the upcoming year.  The Freelancers Union  http://freelancersunion.org,  a New York City-based nonprofit organization that advocates for the interests of self-employed workers,   plans to help its 233,000 members purchase medical and/or dental insurance in all 50 states.

Freelance Union members also have access to retirement plans and disability,  liability and life insurance.  Additionally,  the Union operates two health and wellness centers in New York City,  where members can obtain primary care services at no charge and also participate in classes such as tai chi and yoga.  Membership in the Freelancers Union is free.

I went to the Union website and found that medical insurance is not offered in my state,  but dental coverage is available for $60.77 /month  ($112.32 /married couple and $164.89 /family).  The twice-yearly cleanings are 100% covered as are annual x-rays.  Services such as crowns,  fillings and anesthesia are covered at 80% after a $50 deductible and root canals,  endodontic and periodontal services are covered only after a 12 month waiting period and then at 50 % after the $50 deductible.  The yearly maximum benefit is $1250.

An individual pays about $730 for the year.  I might spend that amount in a year paying out-of-pocket for two cleanings with bi-annual x-rays averaged in.  My gums are not great and I must very soon see a periodontist.  Heaven knows what he will charge but the visits will not be covered,  since only two are allowed in 12 months.  Periodontal work would only be half covered and the maximum annual benefit is only $1250 for a premium that costs $730/year.  In sum,  health insurance is all too often not an advantage,  unfortunately.  Maybe the medical plans are better?  An individual Bronze level plan in New York City will cost $393/month in 2015.

Still,  it appears that Freelancers can benefit in other ways from Union membership (I am not a member).  There are plans over the next five years to open 15 primary care clinics across the country,  including Los Angeles and Austin, TX.  The clinics will not charge co-pays for office visits and will be open to all who purchase health insurance through the Freelancers Union.  There are numerous professional benefits as well.  Maybe I will join before too long.

More good information on health insurance prices is available at the Consumer Reports Health Law Helper,  which walks you through questions to help you understand your options for buying health plans,  with links to marketplace sites   http://healthlawhelper.org.  The American Association of Retired People AARP sponsors the Health Law Answers site,  which provides information for health insurance seekers of any age  http://healthlawanswers.aarp.org/en.  The Kaiser Family Foundation provides the Insurance Marketplace Calculator,  which helps you estimate the cost of health insurance based on your location,  age and income,  along with pricing for various level plans  http://kff.org/interactive/subsidy-calculator/.

Thanks for reading,

Kim

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Year-End Tax Planning: Freelancer Options

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It’s never too early to start a retirement plan and Freelance consultants are encouraged to set aside money whenever possible.  Be advised that contributions to a self-funded retirement plan are guided by your net earnings from self-employment.  If you net $80,000 this year,  then you may contribute 20%  of that amount,  or $16,000,  to a SEP IRA or Solo 401K plan.  If you are age 50 +,  a  “catch-up”  contribution of maximum $5,500  (in 2014)  can raise your total allowed retirement fund contribution  (and tax deduction)  to $21, 500.  The maximum amount that one can contribute in tax year 2014 is $52,000 and $57,500 for those age 50 +.  However,  if you are a high earner and you consult with a savvy tax specialist,  it may be possible to divert lots more tax-deductible dollars to a Solo 401K than is allowed with a SEP IRA.

 

SIMPLE IRA

The Savings Incentive Match Plan for Employees Individual Retirement Account is a type of traditional IRA that is tailored for small business owners and self-employed Freelance consultants.  As with a traditional IRA,  contributions are tax-deductible and savings held in the account are tax-deferred until retirement withdrawals are made  (age 59 1/2 the youngest and age 70 1/2 the oldest).  If you have employees,  they may contribute to the SIMPLE IRA themselves and you the employer are required to make annual contributions as well,  whether or not the employee chooses to contribute.  You may make a 100%  match of the employee’s contribution,  but the maximum is 3% of your  net earnings,  or you may limit your employer contribution to 2%  of your  net earnings.

Any business entity that employs 100 or fewer workers may establish a SIMPLE IRA for employees and the owners,  too.  If you anticipate growth in your business that will likely cause you to hire even one full-time employee,  then consider a SIMPLE IRA,  because adding employees to the plan is relatively easy,  unlike other retirement plans.  The big downsides to SIMPLE IRA are 1).  the $12,000 annual contribution limit is considerably lower than that of SEP IRA and Solo 401K and 2). the  $2,5000  “catch-up contribution”  for Freelancers and business owners who are age 50 + is paltry by comparison as well.

However,  as a business owner or self-employed Freelance consultant,  you are your own employer and you may contribute to your SIMPLE IRA as both employer and employee.  You may add in up to 3% of net earnings,  in this example up to $2,400,  to contribute $14,4000 in 2014 and $2,500 extra if you are age 50 +.  Finally,  if you don’t make much money but you still want to set aside a little something for retirement,  if your net earnings from self-employment are $12,000 or less,  you may contribute 100% of the amount of your net earnings to your SIMPLE IRA.

ROTH 401K

A designated Roth Retirement Account is an individual retirement account that exists under the umbrella of your 401K,  solo or traditional  (if the 401K is set up to allow it).  Unlike SEP and Solo 401K,  Roth 401K contributions are made with after-tax income and when you are ready to access the account,  you will draw down tax-free money.   The 2014 maximum Roth 401K contribution is $5,500  ($6,500 for those age 50 +).

Your selection of a Roth designation within your 401K will depend upon your financial circumstances and you should meet with a reliable financial adviser in advance.  An individual or couple might choose a Roth when there are insufficient deductions to itemize at tax time,  thus negating the tax deduction benefit of the other retirement accounts .  The Roth,  paid with after-tax dollars,  gives account holders the benefit of tax-free income during retirement.   Wealthy Freelance consultants who are concerned about minimizing taxes during retirement may also benefit from the Roth.

You may have both a  (pre-tax)  Solo 401K and an  (after tax)  Roth 401K and it is permissible to use the salary-deferred portion of your Solo 401K to make a Roth 401K contribution.  Profit sharing Solo 401K contributions are not eligible to be made as a Roth 401K contribution,  since they are made pre-tax and are tax deductible and you cannot commingle the two.

While Roth 401K income-deferred contributions are NOT tax-deductible,  withdrawals made after age 59 1/2 are tax-free IF five years have passed since your first contribution to the Roth  (known as the 5 year rule).  One is NOT required to take distributions at least by age 70 1/2 and that feature may be useful for retirement cash flow planning.

Thanks for reading,

Kim

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Year-End Tax Planning: Funding Your Retirement

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Happy November.  The year will soon end and it is time to put together a tax planning strategy while there is still time to plan and execute.  There may be business equipment to purchase,  upgrades to make to your website or a seminar to attend,  but we self-employed workers must also fund our retirement.  Traditionally employed workers must also fund their retirement,  but they get help from their employers.  Freelancers are our own employers and we must step up and do all that we can to stash a few tax-deductible dollars in the cookie jar,  so that we can eat when we’re 75.

Whether you’ll squeeze a few thousand dollars out of modest billable hours or you’re looking for a place to roll the overflow from a lucrative year,  saving for retirement is a superb tax planning strategy.  It is also a superb life planning strategy.  Under no circumstances do we want to be old and broke in America.  If one is single,  that is a real possibility.  This is not Europe and the government will not give us any financial assistance in a time of need,  even though we have been tax paying citizens our entire lives.

The good news is that there are good retirement plan options available to Freelancers with a few thousand dollars to spare and the discipline to save.  Also,  the retirement money can be invested in stocks,  bonds,  mutual funds or even real estate.  You might get lucky and see your investment really grow.  Taxes will not be paid until it’s time to draw down on the account  (age 59 1/2 the youngest and age 70 1/2 the oldest).

SEP IRA

The Simplified Employee Pension Individual Retirement Account is modeled after the IRAs that every employer offers.  They are evidently the easiest type of retirement account to set up and there are minimal IRS reporting requirements involved.  Your job will be to find a brokerage firm that will set up the plan,  process your deposits,  maybe give you some investment advice and not kill you with administration fees.

Contributions are limited to 20% of your net earnings  (before the self-employment tax).  Contributions are capped at $52,000/year for tax year 2014 and the limit will increase every year or two,  to adjust for inflation.  A married couple who run a business together,  or are each Freelancers,  may open a joint account and save an annual maximum of $98,000 tax-deductible retirement dollars in 2014.  One cannot borrow against a SEP IRA.

SOLO 401K

The Individual 401K is modeled after a traditional 401K and once again,  the IRS filing requirements are uncomplicated and your job is to find a brokerage firm that will set up the plan,  process your deposits and not kill you with administration fees.  One may contribute money a little differently to a Solo 401K,  in that you may give yourself a  “salary deferral”  in a good year and stash up to 20% of your net earnings into the Solo 401K,  but the annual maximum contribution remains $52,000 in 2014  (the limit will rise modestly to adjust for inflation).  However,  Freelancers aged 50 +  can take advantage of the  $5,500 (max)  “catch-up contribution”  feature,  which allows those who are able to set aside more retirement dollars to do so and contribute up to $57,500/year in tax-deductible dollars.  Another big advantage of the Solo 401 K is that one may borrow against maximum one-half of the assets  (you must repay the loan with interest, to yourself).  Additionally,  a married couple who run a business together can start a Solo 401K retirement plan for the two and contribute up to $98,000 annually as of 2014 and $10,000 more with the catch-up contribution if both are age 50 +.

Next week,   we’ll look at the SIMPLE IRA and more retirement plan options.

Thanks for reading,

Kim

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Notes on Networking

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I’ve been thinking about networking lately.  Last week,  I had a great meeting with a young lady I met maybe 5 years ago,  when I revived a volunteer relationship with her organization.  I found the volunteer activity personally rewarding and I took it seriously.  I sharpened a seldom-used skill that I find highly desirable and I saw to it that my work met or exceeded expectations.  Scheduling prevented me from donating services for a couple of years,  but I always responded to her outreach. When she asked to pick my brain about a program-related matter,  which turned into a request for a face-to-face,  I was happy to say yes.

Little did I know that the volunteer service,  that is pro bono consulting work,  will now pay a stipend.  There is also an effort to grow the program.  The organization has had trouble selling to the new target market and I was happy to suggest some talking points that should produce results.  She took lots of notes.  Sometime over the next few months,  I expect that I will be invited to provide more pro bono work,  this time with a very helpful stipend and a chance to gain access to individuals that I would like to add to my client list.

What’s the moral of this networking story? One,  strategic volunteering can pay dividends.  Two,  selectively network at both ends the organization chart.  Don’t assume that lower ranking people are never in a position to help you.  This young lady was the program coordinator,  not a decision-maker and she’s half my age.  Nevertheless,  I treated her with respect and always enjoyed working with her.  When asked,  I offered to give her some much-needed insights,  without knowing that she is now in a position to help me make money.

Of course,  we all dream of meeting a powerful person who will miraculously agree to become our sponsor and shepherd us into a fabulous career.  That happens for some people,  but it has yet to happen to me.  For example,  for more than a decade I regularly attended Mass and sat at coffee hour with a very wealthy and well-connected lady who frequently discussed the professional success she had had before her retirement.

The lady was well aware of my need for clients and yet she never lifted a finger to help.  She who had never walked through a door that was not opened for her,  deliberately withheld from me.  Yet,  she never failed to enlist my help with her Sunday amusement—the New York Times crossword puzzle.  It is interesting,  because she sought me out for conversation and volunteered information about her career and connections.  I should have been golden.  Oh, well.

But how does one network successfully at the top of the organizational chart?  As detailed above,  interacting with someone who is inclined to respect you is rule #1.  Remaining aware of the difference in power and status is rule #2.  Understanding how you can be a valuable asset to an individual who has many resources and most likely doesn’t need anything from you is rule #3 and effectively communicating to Mr. or Ms. High-and-Mighty whatever value proposition that you think might be appreciated is rule #4.

There are no hard-and-fast rules for networking up the food chain,  but despite my fruitless experience,  which I will say is unusual,  networking with the higher-ups is best done at volunteer board meetings,  houses of worship,  at the fitness center,  or in other non-work related venues.  There are many people tugging at the sleeves of the well-connected.  It’s probably best to get to know them in a social situation that facilitates participating in a shared experience that can lead to organic relationship-building.

Thanks for reading,

Kim

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Arranged Marriage: Propose A Strategic Partnership

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On numerous occasions throughout the life of this blog,  I’ve urged readers to create strategic partnerships as a way to grow and sustain their enterprise.  Strategic partnership can bring great advantages to the entities involved.  But if poorly conceived and executed,  the partnership will be an expensive and frustrating disappointment.  You know which scenario you want,  so let’s talk about how to get there.  Freelance consultants and small business owners will likely have one of the following goals in mind when contemplating a strategic partnership:

  • Expertise that is project specific or ongoing
  • Labor needed for the short-term or intermittently
  • Access to a certain target market
  • Increasing sales in existing markets
  • Sharing resources, e.g. office space or technology

Define goals that you can reasonably expect to achieve via the partnership.  Your need may be as simple and short-term as finding a talented and reliable graphic artist to design a save-the-date card,  invitation and program book for a nonprofit agency fundraiser that you are planning or a photographer to capture special moments at the event.  If you produce many events,  you will want to form ongoing strategic partnerships that will create a team of suppliers on whom you can rely.  If a long-term arrangement is your goal,  consider carefully the expected benefits to your organization in terms of market penetration,  access to bigger projects and clients,  increased revenue,  or other pertinent factors.  Project how long you expect it will take for your organization to realize progress towards the goal.

Well-defined partnership criteria will help you to pre-sort candidates in advance of approaching someone.  You won’t know until you have a meeting,  but learning about the potential candidate’s business model,  client list,  business goals,  business practices and organizational culture are important deal-makers or deal-breakers.  The more alignment between the participating organizations,  the better the chance for success.  Prepare and prioritize your list.

Next,  think about potential partnership candidates and your relationship with those individuals or entities.  Look for a firm where a complementary aspect exists with yours,  as noted above in the example of an event planner in search of a photographer or graphic artist.  Will organizations that offer any competing products or services be disqualified?

If it’s a long-term partnership that you will propose,  prepare a partnership worksheet for each candidate,  to ensure that you approach only those with whom you are likely to partner successfully.  Be specific about what you want the partner to provide and the responsibilities of each entity.

As you consider partnership candidates and develop the worksheet,  confirm and learn to articulate the expected benefits that would accrue to an entity that would partner with your own,  attainable over the short and long-term.  How long do you project it will take for the partner’s organization to realize progress towards the goals? Seeking feedback from a knowledgeable and neutral third-party might be helpful at this stage,  to eliminate excessive optimism on your part.

You are now ready to enter the recruitment phase of your search.  This process can be formal or informal,  depending on your familiarity with the organization leader.  You might run into that person at the grocery store and suggest that the two of you sit down over coffee and talk a little business.  If you’re not so chummy,   send an email and set up a call time or a face-to-face.  If the proposed arrangement will be complex,  provide your prospective partner with a copy of the partnership worksheet.  The worksheet will make you look super-prepared and can only raise your stature in the eyes of the candidate.

Especially if your intended has a bigger and more prestigious organization than your own,  providing the partnership worksheet should be a good tactical move.  The worksheet will also help you to launch discussions of organizational priorities;  clarify the perceived benefits, of the partnership;  anticipate obstacles;  reveal alignments or disconnects in business practices;  and give insight into organizational culture.

If at the meeting the partnership seems like a good fit,  propose or answer any questions that would constitute due diligence as you develop a formal partnership agreement.  The two of you must agree in writing to the specifics of the partnership:  its goals,  expectations,  services provided,  resources shared,  responsibilities,  fee schedules,  deadlines,  effective date and how success will be evaluated and other factors that would impact the relationship.

Thanks for reading,

Kim

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10 Ways To Reboot Your Email Marketing List

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E-newsletters,  webinars,  Slide Share info-graphics and other email marketing content can go as flat as an open bottle of champagne after a while.  Business in the 21st century is sort of like show business,  folks.  Gypsy Rose Lee said it best,  “You’ve gotta have a gimmick”.  You need to know how to hold your audience.  For that matter,   you’d better know your audience well enough to recognize when they stop paying attention.

Assuming that the content you provide is relevant to potential readers and not just a 3 page sales pitch about you,  wonderful you,  there may eventually be a drop-off in the email open rate.  Attention spans are short and email in-boxes are filled to the brim with all manner of messages.  But you can’t afford to lose control of your “room”,  your list members.  Presumably,  that list is populated with clients,  prospects and referral sources.  They are the life blood of your business.  How do you win them back? Try these tactics:

1.   Examine your stats and identify who is not opening your emails.  Studies show that 60% of email marketing communications are never opened.

2.   Prune the list.  Facing up to audience members who have fallen out of love with you takes courage but like any love affair that’s over,  it is best to move on.  Resolve to remove the non-readers.  Carol Tice, who founded the Freelance Writer’s Den and maintains a formidable email list,  sends her non-readers an email and asks if they would like to remain on the list.  The overwhelming majority do not respond and their names are removed.  A handful ask to continue.  You will feel better when you do the purge.  You’ll have an open rate that makes you smile.  You will know that the creative energy and hard work invested in your content marketing will be appreciated.

3.   Ask list members to update their email information.  Your open rate could improve just by allowing readers to have communications sent to an alternate email address.  Those who don’t respond after a second or third reminder to update their info are clearly not interested and can be removed from the list.

4.   To maintain the interest of readers who remain,  especially if your open rate is dropping,  take a look at your subject line.  A well-written subject line is a siren song to potential readers.  See  headline hooks that reel in readers

5.   Include a tempting call to action and name it in the subject line.   A Survey,  free webinar (hosted by you or someone whose expertise you trust),  or a white paper on a subject of interest to your readers re-establishes your relevance and will persuade a certain percentage of non-readers and infrequent readers to click and engage.

6.   Think mobile.  In July 2014,  Forrester Research reported that 42% of emails from B2C retailers are opened on smartphones and 17% are opened on tablets.  Customize your email communications for responsive design,  so that reading will be easy on mobile devices.  Make it convenient for all potential readers to open your communications.

7.   Send on a regular schedule.  Frequent readers of this blog know that Tuesday is publish day,  even if Christmas or the 4th of July fall on that day of the week.  You may prefer to publish on a given date.   Whatever you do,  establish and adhere to a predictable publishing schedule.  Readers appreciate it more than you may realize.  Make readers anticipate receiving and reading your communications.

8.   Build your list.  Organically and with permission,  build your email marketing list.  You should have met each person on your list at least once.   At the email campaign launch,  send to all business contacts along with an introductory message that announces the debut,  explains the benefits to readers,  reveals the frequency (weekly or monthly)  and provides an easy and effective opt-out.  Resist the temptation to add to your list the names of everyone who hands you a business card.  When speaking with people,  do mention your email marketing campaign,  give examples of the subjects covered and how often you send.  Ask if they would like to receive at least one and let them know that if they choose to opt out,  that can be easily and quickly done.

9.   Personalize.  Whatever service sends out your emails should include a greeting to the individual recipient.

10.  Sign me up!  On your website and social media,  allow interested parties to sign up to receive selected email marketing communications,  register for webinars or receive a copy of any white papers.

Content marketing is the new advertising and emailing your content is the best way to reach clients and prospects who no longer answer the phone.  Create a viable list by continually adding and purging members to enable your campaigns to deliver optimal ROI.  Draw in readers with relevant content and intriguing subject lines.  Format in responsive design to include those who prefer to read on mobile device.  Fulfill expectations by publishing on a regular schedule.

Thanks for reading,

Kim

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The Fit Freelancer

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What you didn’t know about me is that in addition to bring a Freelance strategy and marketing consultant,  I’ve also been a fitness instructor for the past dozen years.  I became a fitness enthusiast on my 21st birthday.  On that day I realized that the clock was ticking and that it would make sense to do whatever was possible to preserve and protect my health and strength.

I ran one mile.  I made myself drink 8 glasses of water (a substance that I loathed) and promised myself to drink at least that amount every day.  I began to eat vegetables other than corn,  spinach or peas.  Soon thereafter I became a vegetarian and followed that regimen for about 15 years,  reintroducing meat to my diet only after peer-reviewed studies showed that red meat is a beneficial component of our diets,  providing the best source of protein and facilitating the absorption of minerals.

There are now thousands of studies that focus on wellness,  that is the benefits of regular exercise,  a healthy diet,  adequate sleep and supportive relationships.   Over the past 15 years or so,  psychologists and other social scientists have learned that regular exercise does much more than improve our physical beings.  Exercise impacts the way we think.  Statistically significant cognitive benefits of regular exercise include:

  • Improved concentration
  • Enhanced creativity
  • Faster learning
  • Sharper memory
  • Greater mental stamina
  • Lower stress

Regular exercise (defined here as three or four 45-minute workouts/week;  one mile swims/week;  or two-mile runs/week) has also been shown to boost self-confidence and cause our central nervous systems to produce endorphins and serotonin,  chemicals that are natural mood elevators.  Exercise makes us think more efficiently,  work more effectively and feel happier,  more confident and less stressed.  May I add self-discipline to the list of exercise benefits?  It takes real discipline to pull oneself out of bed at 4:45 AM on a freezing January morning and venture out into the icy darkness a few minutes later,  en route to the gym.

Surprisingly,  the time of day that we exercise matters and according to researchers,  daytime is best.  A 2008 study revealed that exercising during work hours (or before the work day) improves the ability to manage time;  increases one’s productivity; improves our interactions with colleagues; and leaves us still feeling good as we head home at the end of the day.

I will concur.  I always did my runs in the early morning and eventually,  I came to prefer early morning exercise classes.  I like to get my workout done before the events of the day have a chance to derail my schedule and I love the energy blast that early morning exercise gives me.  What a feeling of accomplishment I have as I waltz out of the health club door at 8:15 AM,   showered and dressed and ready to take on the day!

Regular exercise benefits everyone and I feel it is especially beneficial for Freelance consultants and business owners.  For us,  achieving and maintaining mental and physical stamina are a must.  Researchers offer a few suggestions that will support those of you who are about to introduce fitness into your lives:

  • Find a physical activity that you like,  because you will not continue otherwise.
  • Get a trainer and/or take fitness classes.  Commit to learning how to work out in a way that maximizes the benefits and minimizes the risk of injury
  • Get social.  Talk to people and make friends at your gym.
  • Join a team if you like team sports.  You will be compelled to practice (exercise) and play (more exercise).

I offer you my suggestions,  based on many years of gym membership and 12 + years of teaching fitness:

  • Join a gym that is convenient to your home or office,  to make it easy for you to get there.
  • Early morning is probably the most convenient time to exercise.  Develop your early morning exercise routine in spring time,  when mornings are brighter and waking up will be easier.

Thanks for reading,

Kim

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Customer Data: Collecting and Utilizing

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Big data and data mining are buzzwords that have echoed frequently in the business press during the past three or four  years.   The noise level has caused business leaders to feel obligated to collect data from as many customer interactions as possible.   OK,  that’s very ambitious of them,  but now what? There is a lot of talk about big data and data mining and increasingly there is some action,  but the dust has not yet settled.  Many organizations are struggling with how to interpret,  utilize and store the copious amounts of customer data now in their possession.

Customer information is always useful,  but does data collection have meaning for small businesses and Freelance solopreneurs?  What information should a Freelancer collect and what do we do with it once we have it?  Do big data and data mining have any use for the little people?  The answer is yes,  but no.  Big data and data mining are of most use to the bigger players,  who use the costly to acquire information to fine-tune product offers to millions of current and potential customers.

Freelancers and small business owners can start with their client list.  Who has done business with you over the past five years? Who are your repeat customers?  What do they buy from you and when do they buy it?  If you have not done business with a B2B or B2G client in the past two years,  is your contact still at the organization and is s/he still in the same position? Are B2C physical and email addresses current?  Visit company websites and view the staff lists to confirm email addresses,  telephone numbers and job titles.

Customer data might give you ideas on how to improve customer service,  cause you to re-think your pricing strategy,  or help you to discover unexpected talking points for your next email marketing campaign or monthly newsletter.  Your customer data might prompt you to reconsider good customers of years past and get you thinking about how to win them back.  Updated customer information will make it easy for you to send out holiday cards in December to your B2B and B2G clients and do some relationship-building,  an important element of customer retention.

Online customer surveys that are accessible on your website and also emailed to your customer list have the potential to bring in still more useful customer data.  Learn how to devise a survey that makes it easy for customers to share the information that you want.  Keep the questions simple and don’t ask more than 10 to achieve the highest rate of participation.  Freelancers may also want to send out post-project surveys with the final invoice.

Social media outlets are another excellent source of customer data.  Social media have a way of bringing out uncensored thoughts and you might be surprised by what you learn.  Are your customers willing to engage with you on Facebook,  Instagram,  LinkedIn or Twitter?  Will any join in a Google + Hangout and join in a voice and video live chat?

Collecting data from many touch points is potentially very useful for every business entity,  but what you make of it and do with it are what matters.  Freelancers and small business owners can use customer info to improve revenue by way of expanding billable hours or sales of current customers;  re-establishing business with lapsed customers;  new customer acquisition and relationship-building.  Small data can yield big results when properly interpreted and utilized.

Thanks for reading,

Kim

 

 

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The Risks and Rewards of Time Management Triage

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As of September 22 at 10:30 PM,  Summer 2014 ended and Autumn officially began.  September is a hectic month for many,  as projects that have been in limbo since June,  because completion would require more time and energy than the principals could muster during July and August,  are resumed.  September is when you pick up the thread and work toward a pre-Christmas victory.  It is time for you to evaluate both work responsibilities and social invitations and decide who and what are worth your scarce time and energy.

One must learn to triage,  as emergency room physicians and nurses do,  and give ourselves permission to prioritize and move forward with what has either value or consequences and ignore what and whom are a waste of time or a low-risk write-off.  Following this strategy is not without its own set of consequences and depending on who is tugging at your sleeve,  things can get uncomfortable.  Please,  allow me to rant for a minute.

At various times in my life,  I’ve had the misfortune of interacting with one or more disrespectful,  manipulative,  boundary-crashing and supremely entitled time-sucking vampires who shamelessly and relentlessly took every opportunity to control my time and hence,  my life.  These were personal relationships and thankfully not work relationships,  but the scenario was no less stressful just because a paycheck and professional advancement were not at stake.  I am inclined to believe that women encounter this problem more often than do men.  Sadly,  both women and men will disrespect women on a regular basis.

Be advised that failing to triage one’s time also entails consequences.  The only way to have the time to fulfill important responsibilities and also participate in activities that you enjoy is to neutralize the time-suckers.  It will not be easy.  These folks are determined to get their way and they do not give up without a fight.  Expect wheedling and pestering and be prepared for possible escalation to accusations,  emotional blackmail,  harassment,  lies and guilting.  Whatever you do,  never give in to a campaign for attention and control.

But I am getting melodramatic here.  The situation is not always so heavy.  It’s just that you must recognize that you are not obligated to do everything that you’ve been asked to do,  because it’s impossible.  Your first qualifier is doing what will bring consequences if you ignore it.  Taxes come to mind,  along with deadlines for important work projects.  Activities and special occasions that involve your children and spouse will closely follow in priority and and events that involve your parents,  siblings and close friends will occupy the next tier.

Less pressing work projects,  volunteer commitments,  acquaintances and relatives whom you like are the next level down and anyone after that can take a number.   You may decide to decline or ignore their requests because quite honestly,  they are not sufficiently important to you.  If Uncle Stanley is a mean-spirited idiot who enjoys undermining people,   why would you waste time going to his birthday party?  Do not let your mother guilt you into it.

According to Ed Battista,  executive coach and instructor at Stanford University in Palo Alto, CA,  the key to making time management triage work is acknowledging the emotional aspects involved in saying no or ignoring people.  Attempting to assume an intellectual approach may not be useful,  for reasons that I’ve mentioned above.  The time-suckers are masters of arm-twisting and no one wants to be portrayed as cold and callous.

Battista recommends that we must aim to expand our comfort with discomfort.  Difficult emotions and awkward  “scenes”  will no doubt have to be managed in the triage process and that is a by-product of our need to control and allot our time and energy as we see fit.  Among the skills that may be helpful is acquiring the vocabulary to communicate how overwhelmed our current responsibilities make us feel and how the prospect of additional obligations will make us feel.  The line of people demanding attention may be long,  but we must learn to say a kind,  but firm “no” when it makes sense to do so.

Thanks for reading,

Kim