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Freelancing Future of Work 2026 and Beyond

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In case you hadn’t noticed, how and where many Americans work—the work environment—has changed significantly, especially since the 2020-2021 coronavirus pandemic era. Twenty years ago there were employees, most of whom worked within the IT industry at companies such as Cisco Systems, Google, IBM, or Microsoft, who were allowed to telecommute (as it was known) maybe once or twice a week. Co-workers who were based in different parts of the country (and sometimes on different continents) would periodically hold meetings and the proceedings were transmitted by satellite feed, which, while usually shaky, enabled teams to communicate and share information, make plans and agree on execution and desired outcomes.

Back in the day outsourcing arrived, a solution fueled by employee downsizing, a practice that in the aftermath of the 1987 stock market crash and recession became increasingly common. Outsourcing emerged as a strategy to address the need to replenish depleted labor talent pools without incurring costs associated with (re)hiring full-time employees—-better to avoid paying for health insurance, sick and vacation time and retirement funding. So, out with employees and in with the contractors.

In other words, while several alternative working options in America simmered beneath the surface for decades, it wasn’t until the 2020-2021 coronavirus pandemic that the doors blew off as business leaders recognized the necessity to immediately provide practical and effective solutions to keep their organizations alive and profitable. Enter the remote work force and a huge validation for Freelance professionals. Who knows how to do Work From Home better than you?

How we worked before has been transformed into what historians may one day label the most impactful labor movement since the Industrial Revolution. The transformation of how many people work, that is, the future of how we will work, is represented by Freelance professionals. In 2026, Freelance employment can no longer be called a mere trend—it is a phenomenon that impacts all 3.38 billion workers on planet Earth. The number of Freelance professionals continues to expand and justify the way we work now and will likely continue to work well into the 21st century.

The influence of Freelance labor is demonstrated by its strong year-over-year growth in bellwether markets such as Britain, South Africa, India and the U.S. In 2026, the population of independent workers is predicted to reach 1.57 billion worldwide, with 83 million Freelancers engaged in the U.S.Freelancers make a substantial economic impact, contributing an estimated $1.27 trillion to the U.S. economy in 2024.

Most Freelance professionals work in the knowledge economy and perform services that require specialized expertise, education and training that’s obtained by earning undergraduate or advanced post-secondary school degrees and/or specialized certifications. From bookkeepers and accountants who ensure that clients’ financial statements are accurate and able to inform business decisions to special events photographers who memorialize the proceedings of Fortune 500 corporate meetings and other important events, the skills and ambition of independent workers have pushed the Freelance economy to unprecedented growth,

fundamentally reshaping the worldwide labor market and positioning the global business processing sector—finance and accounting, customer service, human resources, marketing and other B2B services– to generate revenue of $407.1 Billion (USD) in 2026.

The U.S. has the fastest-growing Freelance economy, with revenue increasing by 78% year-over-year 2023-2024 and a compound annual growth rate (CAGR) of 17% in 2025-2029. The global data-as-a-service giant Statista predicts that by 2027, 86.5 million U.S. workers will Freelance, accounting for 50.9% of the country’s total workforce.


Your inner optimist may interpret this forecast as an opportunity to grow your billable hours; your inner pessimist may see disturbing visions of increased competition in the Freelance hiring landscape. Why not be realistic and take a look at your organization to find where you would be wise to raise the level of your game and enable yourself to be more responsive to clients and prospects in ways that grow your client roster? Make lemonade out of the lemons.

In fact, Freelance professionals are optimistic about the future of Freelance work. Your confidence is fueled by increasing demand for specialized skills and a global pivot toward more flexible work arrangements. According to the Upwork Future of Work Index in April 2025, 82% of Freelancers say their work opportunities have grown since last year, versus just 63% of full-time employees. In that same report, 84% of Freelancers reported that they are excited by how the prospect of Artificial Intelligence tools will reshape their services, offerings and workflows.

Research indicates that Freelance work will continue in growth mode and the data has a high confidence level amongst the experts. You should be able to claim your share of the pie. If the intentions of corporate decision-makers can be taken to the bank (ha!) they support Freelance expertise. A January 2025 Upwork report found that 29% of executives believe that Freelance workers are essential to their business and 48% of CEOs plan to increase their hiring of Freelance workers over the next 12 months.

Still, there are worries that keep you awake at night. A November 2025 survey found that 66% of Freelancers feel that securing enough work is their primary challenge. Other major concerns included managing an irregular income, unpredictable work availability and non-paying clients.

Research also shows that Freelancing in 2026 won’t be all about finding projects; 2026 is shaping up to be about adapting to new skills, technologies and ways of working. Staying informed will help you to prepare and position yourself to keep up as the independent economy continues to grow. The Upwork Future of Work Index found that the most relevant Freelancing strategies to follow in 2026 will be to stay informed about global developments as you remain apprised of relevant shifts that occur in the U.S. B2B Freelance economy.

These are the signals every Freelance consulting specialist should pay attention to. For example, as automation becomes more common, skills that are uniquely human become more valuable. Negotiation, communication, empathy, storytelling, decision-making and leadership will help Freelancers stand out and facilitate building long-term client relationships. These soft skills are now seen as core strengths that technology cannot replace. The Future of Work Index shows that 87% of Freelancers prefer work that helps them improve their current skills or learn new skills, versus work that only allows them to use the skills and proficiency they already have.

 Let’s finish up with some 2025 statistics that examine billable hours and revenue. I’m sure you know that Freelance earnings differ according to the services provided. Generally, the more technical the service, the higher the billable hour. High-demand services such as programming allow Freelancers in the field to bill at $70/hour. Artificial Intelligence and Machine Learning engineering are currently the highest-paid sectors among all Freelancing roles and expertise in one or the other niche allows you to command a billable of $50-$200 per hour. The number of computer and information research scientists is expected to grow by 26% by 2033. (Upwork)

  • Full-time B2B Freelancers on average work approximately 43 hours per week
  • Approximately 54% of Freelancers work five days a week
  • On average, Freelancers earn $99,230 annually; however, the top earners have annual earnings of $200,000. Meanwhile, 25% of Freelancers earn $50,500 annually.
  • The average hourly billable earned by U.S. Freelancers is $47.71, with a range of $132.21 to $14.90 per billable hour. 
  • The average Freelance programmer bills at $60-70/hour and generates annual revenue of about $120,000 
  • The average Freelance writer bills at $30-40/hour and generates annual revenue of about $42,000
  • Online marketers typically earn $50/hour and generate $100,000 annual revenue
  • Freelance graphic artists bill at $40-$45/hour but are known to receive enough billable hours to generate $90,000 in annual revenue

Thanks for reading,

Kim

Image: market.us

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How Much Do B2B Freelancers Really Earn?

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As we enter Fiscal Year 2026, it is apparent that Freelance work continues to be viewed as a good choice by American workers who feel the need to generate income to either supplement their W-2 wages or establish themselves in full-time independent employment that will financially support their household. The ability to exercise greater control over their time and design a flexible work schedule, remains a prized benefit of Freelance work. Worker confidence in Freelance employment has primarily been attributed to periodic occurrences of economic instability that many economists say in the current era began with the global stock market crash of 1987. The now common business strategy of downsizing as an effective strategy to slash corporate payrolls and bolster the company’s financial position seems to have begun shortly after the 1987 crash. Ongoing corporate lay-offs, particularly at enterprise companies, finds a growing number of American workers fed up with constant worrying about losing their jobs; increasingly, the proactive worker response is to take charge of one’s professional and economic destiny by opting out of the search for post lay-off W-2 employment.

As more workers are laid-off, there has emerged a growing trend for them to build Freelance careers instead of seeking another traditional nine-to-five job. As of 2024, 20% of (now former) employees have become Freelance professionals or owners of traditional businesses. It’s been reported that 50% of employees age 45 years or younger would seriously consider leaving their current full-time employment if the usual benefits were available to them.

In sum, Freelance earning opportunities are making a tremendous cultural impact on America, as regards the meaning of work and on the national economy. In 2024, more than one in four (28%) of U.S. knowledge workers were in the Freelancers and they contributed $1.5 trillion to the U.S. economy, surpassing the 2023 Freelance labor contribution of $1.27 trillion in annual earnings.

You might wonder what constitutes a ballpark annual earning as demonstrated in a sampling of Freelance enterprises and you could be surprised to learn that Freelancers in the U.S. earn an average annual revenue of over $99,000, with an earnings range of $31,000 to $275,000 per year. As you know, the hourly rate or project fee a Freelance professional can command is influenced by the ability to convince prospects that significant value will be delivered in the process. In addition, enthusiastic recommendations and an admirable client list—characteristics of a powerful brand, you surely notice—-also matter. What do your prospects and clients think you bring to the table that gives them the confidence to pay the project or retainer fee or hourly rate you request for your time and expertise? Do you have on your wish list the goal of making your Freelance consulting practice more lucrative?

Self-employed professionals are advised to price their services in a way that aligns with their competitive market position, not primarily on their years of experience. To make the leap into more prestigious clients and a loftier pricing level that will open the door to more billable hours and perhaps more interesting projects as well, focus on how you might package and sell your knowledge and expertise as a high value consulting product.

Consider the types of problems your prospective clients would like to solve or competitive advantages they’d like to attain and do some brainstorming—what solutions can you provide to satisfy one or more of those agendas? What do you do that can be described as generating recurring revenue for your clients, for example, or providing a solution to other high priority problems and challenges that your prospects are motivated to resolve?

You can apply your knowledge and expertise to any aspect of your prospect’s business—strategy development, operational efficiencies, financial management, digital marketing, technology solutions, public relations, or search engine optimization. Promote your credentials, specialized knowledge, delivery format, outcomes and client list to justify your (increased) rates. Package your expertise into tiered service levels that prospects will find uncomplicated, relevant and easy to envision themselves buying, using and profiting from the solutions and competitive advantages that you will deliver.

When discussing your services with prospective clients, the prices a Freelance professional charges will likely be more acceptable when based on their perceived value in the marketplace, rather than based on their years of experience in the industry. Be certain to showcase the following attributes and achievements, which can be presented as competitive advantages:

Specific skill set. Your skill set will play a vital role in your pricing structure. You can charge a premium price if an assignment requires a strong underlying technical skill set, such as software development or programming, mobile app development, legal writing, or PR crisis communications, for example.

Education and training. Education and certified training can significantly boost a Freelancer’s income. Although this will vary from profession to profession, a bachelor’s or master’s degree or PhD, as well as specialized training certificates earned at accredited programs or institutions usually allow a Freelancer more leverage in pricing negotiations.

Reviews and proven deliverables. Solid references, ideally from three to five client sources, are essential to verify your expertise and demonstrate your most desirable attributes, such as work ethic, problem-solving ability, or collaborative and cooperative working style. Past project reviews provide an easy way for a company to verify a Freelancer’s performance. A large number of positive reviews proves your credibility, which justifies premium prices.

Years of experience. Experience is a valuable resource in any field. The amount that a Freelancer makes typically increases with the years of experience they have in their service area.

Freelancing payment schedules

Keep in mind that, along with a Freelancer’s increased earning potential and flexibility, comes an unpredictable number of billable hours (that is, projects) and an inconsistent payment schedule. The matter of payment can be addressed in the contract and reinforced during the client onboarding process, when the payment method and schedule are confirmed. Below are the usual Freelance payment options.

  • Hourly rate. A Freelance professional may be paid a mutually agreed-upon hourly rate for work produced. Likewise, invoices are sent to the client and payments are made to the Freelancer on a mutually agreed-upon schedule.
  • Project fee. The Freelancer is paid a set amount to complete a project with a defined scope and completion deadline. To facilitate timely payment, it is common for Freelancers to ask the client to pay 10% – 20% (or more) of the total contracted project fee in advance, before you commence work; subsequent payments can be linked to the Freelancer’s successful completion of one or more mutually agreed-upon project milestones. The goal is for the Freelancer to collect from the client at least 70% of the total project fee before all work is completed. It is imperative that Freelancers build in a payment protocol to protect oneself from the unfortunate phenomenon of unpaid work.
  • Retainer fee. A retainer is a recurring payment that a Freelancer receives based on an estimated amount of work for a project’s duration, or a predetermined amount of time. Retainers are typically paid monthly or quarterly.

Thanks for reading,

Kim

Image: © mrakor/depositphotos

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2025 Can’t Miss Conferences for Freelancers

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The year 2025 has arrived and so, officially, Happy New Year! Shall we get down to business and press the start button on making this a very good year? Because the purpose of this diary is to pass along information intended to help you achieve your definition of a successful Freelance professional, I decided that professional development is the right topic to kick-off this years’ posts.

Professional development brings tangible benefits to every vocation, 1099NEC and W-2, and enables workers to acquire and incorporate new and relevant information and techniques. For example, you may be introduced to workflow methods that teach you how to work smarter— more efficiently and more productively by streamlining and simplifying processes that save time. In other cases, what you learn in a professional development conference may expand your business know-how and enhance your decision-making capabilities.

For those reasons and others, I’ve encouraged readers to consider attending conferences or other professional development programs. Continuing education, whether you find it in local professional or business association meetings, or regional and national conferences, are almost guaranteed to deliver useful benefits that can open your eyes and show you how to become a more productive, confident and successful Freelance professional.

Furthermore, along with the educational components as described in the conference agenda, the inevitable coffee-and-lunch break networking opportunities will allow you to meet fellow attendees, which at the very least can be an enjoyable experience. You might even meet someone, or reconnect with someone, who introduces you to a prospective client—or maybe you’ll make the introduction for someone (because generosity is good karma)?

In any case, many of you work from home, but still appreciate, and occasionally crave, face2face interactions, in particular those involve conversations that explore learning how to become more successful. Networking brings new colleagues and old friends into your life and may reward you with the discovery of a new and potentially lucrative and exciting opportunity, all as you receive a few pearls of wisdom from thought leaders in your industry.

My goal here is to give you some credible options, and also reasonable notice, of upcoming conferences where you’ll be sure to find useful professional development and worthwhile face2face networking opportunities. The search led to my discovery of Wisestamp, a company that creates business email signatures. I liked their list of seven 2025 national conferences that their team recommended and decided to share it with you. The Wisestamp team also developed a list of thoughtfully chosen questions you may want to ask yourself as you consider which conferences will best fulfill your agenda and fit your budget. See below.

Why attending a conference matters.

Attending conferences and other business-focused meetings can be very helpful to Freelance professionals, small business owners, or start-up entrepreneurs. You can expect to experience numerous tangible and intangible benefits, including:


1. Updates and implications of developing trends in your profession or industry.
2. Acquire new skills, upgrade existing skills.
3. Build your professional network.
4. Get energy, inspiration and pick up creative ideas while interacting with fellow attendees.

How to choose the best conference for you.

Consider these practical guidelines when evaluating which conference might best address your professional development goals:

  1. Support professional development goals. Every conference has a unique mix of topics and agenda focus (and sometimes, also a point of view to advance). As you might guess, the featured topic impacts who will be in the audience. That said if, for example, market research is the skill you’d like to improve, find a conference or other meeting that will cover the subject you’d like to learn.
  2. Check out reviews from prior year’s proceedings. Research conferences you may want to attend. To learn how they’ve impacted their audiences in the past, read reviews from participants and verify if what you’re considering is worth your time and money.
  3. Find out who attends. If you are attending a conference to further develop and hone your skills, make sure the speakers are well-respected in your industry. Also, since networking is key, contacting a conference organizer to inquire about attendee demographics will be worth your while.
  4. Budget for the right conferences. If your New Year’s resolution for this year is to curtail business expenses, you may still be able to attend a conference or other program that is meaningful to you. Plan spending to the best of your ability and every month, set money aside.

7 Great conferences in 2025

The Wisestamp team says their goal was to identify a sample of conferences scheduled for 2025 that can be expected to not only inspire and educate those who attend, but also provide an environment for developing meaningful connections and collaborations. With that in mind, the team evaluated the caliber of confirmed conference speakers, the quality of the information scheduled to be presented and the probable networking opportunities that should be available to those who attend. For more 2025 conference information, see WiseStamp.

1. B2B Marketing Exchange

  • Date: February 24 – 26, 2025
  • Location: Hyatt Regency, Scottsdale, Arizona
  • Price: $1,595 – $7,995

This conference is recommended for those who want a deep dive into the various marketing subtopics. Expect a great lineup of workshops and case studies. With 100+ speakers and 70 sessions spanning six tracks. The conference also includes an award-winning ceremony,“The Killer Content Awards” (AKA, The Finnys) for outstanding B2B marketers and campaigns. Previous speakers have included leaders from Google, Siemens, DemandGen, 3M and Oracle. #B2BMX Great for B2B marketers, CMOs, B2B Freelance writers and B2B strategists.

2. SXSW Tech

  • Date: March 7 – 15, 2025
  • Location: Austin, TX
  • Price: $795 – $1,895

The South by Southwest Conference & Festivals celebrates the convergence of the interactive, film and music industries. The main focus of the show is based on innovations and startups, including the size of 72,000 (including the music and art content). SXSW Interactive content is the most relevant to entrepreneurs and SMB owners.

3.  Startup Grind

  • Date: April 29 – 30, 2025
  • Price: $199 – $599
  • Location: Silicon Valley, CA

Startup Grind is an extraordinary event where 7,000 founders and investors, along with 200+ speakers, come together to participate in 100 sessions, workshops and investor Q&A sessions. This event will also feature 300+ exhibiting startups, setting a record for the decade.

Startup Grind is a unique combination of great content and remarkable people, all set in an incredible environment. The event introduces custom-built networking technologies, enhancing the experience for every attendee. Topped off with an unrivaled feeling of intimacy, the event is designed to ensure not only amazing business opportunities but also an awesome time for all participants.

The main focus of this event is on start-ups and SMB, making it the perfect venue for emerging entrepreneurs and seasoned investors alike. It’s an opportunity to connect with like-minded individuals, gain valuable insights and learn about the latest trends and practices in the startup world. With its emphasis on quality content and networking, this event promises to be an invaluable experience for anyone involved in the start-up ecosystem.

4. Social Media Week New York

  • Date: May 12 –14, 2025
  • Location: New York, NY
  • Price: $299 – $1,119+

Social Media Week New York is one of the world’s premier conferences regarding social media. The main topic of focus is social marketing, media and technology communications. The size is roughly 3000 people and 60% of attendees are aged 25-35. Special note: attendees under the age of 25 can enjoy a significant ticket discount.

 5. MozCon 

  • Date: TBA, June 3-4, 2025
  • Location: Seattle, Washington
  • Price: $999+

MozCon is a three-day conference that has only one track. If you’re seeking a conference that doesn’t require a ton of decisions making this one is for you. Here you’ll have many opportunities to gain actionable takeaways from sessions that dive into SEO, analytics, content marketing, social media and customer experience. The speakers range from in-house Mozzers to marketing industry leaders. The conference is a good fit for SEOs, content marketers, agency employees with a specialization in content, analytics specialists and marketing consultants.

6. WBENC

  • Date: June 23 – 26, 2025
  • Location: Denver, CO
  • Price: $2,000+

The 2025 WBENC National Conference is the world’s largest conference for women-owned businesses. Thousands gather to network and do business, all united by a shared drive to uplift women-owned businesses. This is where connections become collaborations, insights turn into innovations and big dreams meet limitless possibilities.

7. World Business Forum (WOBI)

  • Date: November 11 – 12, 2025
  • Location: Sydney, Australia
  • Price: $1,890 – $3,290+

Organized by WOBI each year in a different city across America, Europe, Asia and Australia. The World’s Business Forum is a two-day event that brings together thousands of restless minds who share the same passion for business. A blend of content delivered by CEOs, entrepreneurs, innovators, thought leaders, and creative minds. 1000+ people will attend.

Thanks for reading,

Kim

Image: © Forbes.com (2019)

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Freelancers Do the Side Hustle

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When a local small business owner and acquaintance of mine opened her second venture, a tiny breakfast and lunch place with a retro cool vibe that I love, she soon started “moonlighting” as a dinner service waitress three nights a week at a small artisanal pizza restaurant nearby. She burned the candle at both ends, finishing the waitress shift at midnight and crawling into bed at 1:00 AM, only to wake up at 4:00 AM to make the 45 minute journey to the wholesale restaurant market six days a week, to help her contain food costs and offer menu prices that customers would accept. It was exhausting, but Nicky was determined to pay her share of the debts from the failed first business venture in which she was a partner and also maintain adequate cash-flow in the new one, where she is the principal owner.

About three miles away from Nicky’s restaurant is Anthony’s, another tiny breakfast and lunch place that I love. A few years ago, Anthony told me that his venture’s cash-flow foundation is real estate. Some years ago, Anthony was able to buy the building where his restaurant is housed; upstairs over the restaurant are four apartments that command premium rents for his harbor-facing location.

Cathy, a former client of mine (who, sadly, passed away about three years ago), worked for three or four years as a Lyft driver, to build cash-flow that safeguarded her ability to make the weekly payroll and cover other expenses in her medical billing business (which her children sold). My friend Jackie, a fitness instructor and trainer, launched a boutique gym 20+ years ago, yet she continues to teach classes at a large, prestigious gym where she receives training and certifications in new exercise techniques that she passes along to her gym’s fitness staff so that her team has updated skills. Jackie is also able to now and again observe smart business practices used by her mega-gym employer that she can apply at her operation to improve her performance as fitness center owner and manager. Then there’s my friend Paul who once co-owned four outlets of a popular skin care franchise. To provide health insurance for himself, his wife and their four children, for many years Paul worked 20 hours/week as a FedEx delivery driver.

I also created a side hustle strategy to protect my business cash-flow. Until about three years ago, I periodically taught noncredit skills development workshops to aspiring entrepreneurs—business plan writing, sales skills training, marketing and networking skills—at a local school and at a business incubator that serves aspiring female entreprenurs. Unfortunately, pandemic related shake-ups torpedoed my access to both teaching positions but if an invitation is made, I’ll gladly return—and money is not my only motivation—I enjoy teaching! On the plus side, since 2016, I’ve been a contributing writer at Lioness Magazine, a globally distributed publication that’s targeted to female entrepreneurs.

So where are we going with this? You noticed that the recurring theme of these stories is how Freelancers and small business owners take action to strengthen their business cash-flow. Freelancers and small business owners can be dangerously vulnerable when it comes to financial security. Keeping an entity healthy throughout the inevitable ups and downs of the local or national economy or, in the B2B sector, protecting yourself from cash-flow crunches that can result if a client is late paying your invoice or worse, doesn’t pay at all, is an essential function of your risk management strategy.

The phenomenon once known as “moonlighting,” that is, working in a second (or third, or even fourth) job, and now called a side hustle, burst into the public discourse during the pandemic, when the economy as we knew it suddenly turned upside down and most jobs tumbled into a confusing transition. The shutdown resulted in the swift closure of numerous restaurants and fitness centers and was soon followed by waves of lay-offs and bankruptcies that are ongoing, especially in the tech and retail industries.

Life gradually returned to what’s called “the new normal” and markets rebounded and stabilized, on paper anyway. Contrary to the many glowing reports of a low unemployment rate, subsiding inflation and millions of jobs that are unfilled (and, allegedly, looking to hire qualified candidates), many Americans are experiencing a different reality and the desirability of earning extra income has taken hold. The popularity of the side hustle economy has continued to grow, publicized by rideshare giants Lyft and Uber and fueled by financial pressures felt by both independently and traditionally employed workers.

Recent data confirms that side hustles are on the rise and here to stay, with CBS News reporting that nearly half of America’s workforce has a secondary source of income or their own side hustles. Surprisingly, according to Side Hustle Nation, side hustles aren’t exclusively for the financially challenged—the 2024 Side Hustle nation survey found that more than 40% of participants have household incomes that exceed $100,000 and 78.4% stated that they aren’t struggling to make ends meet.

The changing societal zeitgeist gives today’s Freelancers and SMBs the greenlight to radically reframe their feelings and expectations toward “moonlighting,” with its former connotations of operating in secrecy in order to rustle up money needed to supplement an insufficient income, to a potentially impactful revenue stream that could surpass mere cash-flow support and extend into financing new business ventures or other investment. For today’s Freelance professionals and SMB owners, a side hustle can translate into a unique growth opportunity but to make the strategy work, the side hustle must be managed with intention. Proper structure, planning and assessment are required. If you are Freelance professional or SMB owner considering the enhanced security that can be provided by a good side hustle, here are six steps to take to help make your side hustle worth your time and effort.

  1. What’s in it for you? As you’ve seen, the side hustle economy gets lots of publicity and the noise may get you thinking—is there an opportunity for you? Life continues to get more expensive and also, extra money is an essential resource when one has financial or entrepreneurial goals. You might see a side hustle as a vehicle to pay off debt, finance your retirement, or build capital to launch a start-up. Then again, you could be motivated by a basic need or desire to supplement your Freelance or other business revenue or your W-2 paycheck. There are also those who harbor the goal of building out a promising side hustle that will become a full-time business venture and replace their current employment. Before you focus on what might be your most promising side hustle, however, you would be wise to clearly define your motivation.

2. What are your marketable skills and are they expert-level? Once you’ve made an uncensored examination of your interest in launching a side hustle, make an accounting of your potentially marketable skills and evaluate what customers might be inclined to pay you to do. For example, might your knack for graphic design open doors to projects such as designing wedding invitations, or perhaps creating marketing and sales materials? Talented writers might parlay that competence into a Freelance editing side hustle. If you were born with a green thumb and can keep blooms popping, from crocuses in early spring to chrysanthemums in late autumn, then window box and garden management may be the side hustle for you. Be aware as well that it’s a valuable competitive advantage to invest in your side hustle skill with training that upgrades your expertise. Certifications, degrees and experience (communicated by customer reviews) can be posted on your website and social media accounts to increase the confidence that prospects have for you. Skills training helps you stand out against competitors and can increase customer demand, grow your client list, justify premium pricing for your services and ultimately, position your side hustle to earn more money, faster.

3. What will success look like? It’s important to align your side hustle’s driving purpose with your marketable skills that a critical mass of customers will pay to receive and also fit your definition of financial success. This is about managing expectations—will the side hustle you have the skill set to get paid for earn you enough money to make it worthwhile doing? For example, you may want to become a piano teacher but research of the most respected teaching qualifications, or your access to potential students, may not support either the price you’d like to charge for lessons or the billable hours you’re likely to get. You may be able to tap a new market and improve access to students—maybe retired adults who want to revisit their childhood piano lessons?—but since you can’t charge your preferred price for lessons because you lack a certain qualification, so you’ll have to work harder and give more lessons. Basically, you must be honest about how much time and focus you care to devote to your side hustle venture and define your picture of success.

4. How disciplined are you? The side hustle will not get off the ground and fulfill expectations if you can’t make yourself put in the time and effort to make it successful. This seems obvious, but for some it may not be as easy as it seems. Before you invest significant money into developing your side hustle consider likely the time commitment, along with the necessary tools, equipment, relationships, training and administrative duties (marketing and bookkeeping, for example) it will take to launch and operate your venture and guide it toward your definition of success. Estimate the number of hours per week, with a realistic hourly service rate, it will take to make the thing worthwhile. Be brutally honest about the number of hours per week or month you can (or will) allocate to working a side hustle. BTW, as you calculate your estimated time commitment, do not even think about infringing on the time and focus needed to effectively do your day job.

5. Create milestones with timeline and success metrics. Operating a side hustle means lengthening your to-do list and spreading yourself thin, making it essential to be organized. Keep yourself on track and also alert yourself to what is or isn’t working by creating a simple and revealing tool—a timeline. At periodic intervals—monthly or quarterly will be good—over a 12 month period, it will be very helpful to track and assess Key Performance Indicators that demonstrate side hustle growth, or lack thereof. Look at billable hours worked, number of customers seen, revenue generated and business expenses to get the story of side hustle performance. Pay attention to prospects who don’t work with you to learn of some element you may want to adjust. It’s important to use a timeline to project what you think is achievable so that, as an entrepreneur, you are setting yourself up for success.

6. Course correct when necessary. You’ll quickly know if something is not performing as you’d hoped (like revenue generated), but the above-mentioned timeline will confirm the diagnosis with metrics. Along with defining your KPI timeline is to recognize what’s working and what’s not, so you can make corrections where necessary. The big-picture view is a revealing perspective. Take the time to consider why those who tell you no are declining to work with you—are you falling short somewhere? On the plus side, are existing customers referring new customers and/or writing good online reviews? Once a month or so, hunt for time in your very busy schedule to think about your side hustle for a couple of hours, just as you think about your Freelance consultancy or SMB. Know that it’s okay to periodically reevaluate and change course if necessary.

Thanks for reading,

Kim

Image: © Shutterstock. Working as a fitness instructor or trainer has been a popular side hustle since the 1980s.

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8 Hacks to Make 2024 Your Best Year!

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At the top of the year many of you—working or retired, seniors or teens, traditionally employed or self-employed— will develop a list of goals you’d like to pursue and achieve over the next 12 months. You know that identifying a purpose that inspires, motivates and gives direction to your professional or personal life makes you feel confident and is a cornerstone of how you define success.

To get started on your annual plans, dedicate a block of time and use it to make an objective assessment of where you are now and where you’d like to be at this time next year. Commit to writing the rough draft of your emerging goals and begin to flesh out the proposed actions and time lines to carry them out, whether you scribble on the back of an envelope or record your ideas on a white board at a company meeting. You’ll find it useful to include monthly or quarterly milestones as a way to document your progress and perhaps make adjustments as you observe the impact of your action plans on the strategies you’ve developed.

Below are a list of hacks (the good kind!) that I hope will nudge you in the right direction and serve as a general road map for your 2024 annual plans.

1. 5:00 AM wake-up

In the cold, dark winter even those who love early morning can struggle to greet the day before sunrise but you’ll soon learn that the sacrifice will be quickly immediately rewarded with a noticeable spike in productivity that will encourage you to maintain the habit. Here’s the earlier riser secret—as the days gradually get longer and brighter throughout late February and early March, set your alarm to wake up 30 minutes earlier than usual. Every week or two, change the wake-up call to half an hour earlier until you’re waking up at 5:00 AM. Whether you prefer to start the day with a mug of hot tea and a review of email or with exercise, you’ll be off to the races and you’ll win every time.

2. Define your success

Goals help you focus your time and energy and it’s wise to spend adequate time determining the business results you’d like to achieve, followed by creating strategies, action plans and a timetable that serve as the engine to move your plans forward. It’s useful to revisit the previous year’s goals and objectives as you define what success could look like in 2024—you can perhaps build on previous successes or modify that which remains relevant but could benefit from a re-calibration. Your challenge will be to identify reasonable, ambitious, achievable goals for your company and to understand the purpose, impact and ROI of each goal. Finally, you’ll need objective measures for determining success and experts agree that SMART goals are still the best—Specific, Measurable, Attainable, Relevant and Timely.

3. Follow the money

To properly manage your business you must understand its financial metrics and heed what those metrics indicate. You don’t have to be an accountant to understand the numbers, but I’ve found that my best and most profitable clients know their numbers. They monitor sales revenue weekly or monthly; they analyze cash-flow reports weekly or monthly; they calculate costs associated with client acquisition; they determine profit margins for their products and/or services and price accordingly. Furthermore, those who operate a service business will calculate the hours devoted to billable and non-billable work that’s performed each week or month. It will also be a good time to reconfirm or reconfigure the metrics, i.e. the KPIs, that will most accurately reflect the performance of any new goals or other initiatives you’ll put into place this year.

4. Nurture client relationships

Clients are the lifeblood of your business and it is obvious that cultivating and nurturing client relationships is of utmost importance. Video meetings, telephone calls and emails are the easiest contact methods available and each has a place in a comprehensive client outreach strategy; however, the most impactful relationship-building activity is a face2face visit. There is nothing like the warm and friendly rush of a big smile and a handshake. You may have had innumerable phone conversations with a client or prospect, and a video call or two as well, but can you say you’ve met him/her until you’ve met and talked in real time? You may find that you develop deeper and longer-term relationships when you meet people face to face.

Online meetings absolutely serve a purpose, but humans (and animals) respond most intensely to physical contact. That psychological fact should give you the motivation needed to attend business and professional association meetings, drop into networking events, or simply invite a client or serious prospect to meet for lunch or coffee.

5. Skills development

Ensure that you have the wherewithal to evaluate and, where appropriate, utilize resources offered by emerging technologies and leadership practices that will benefit your business. You can pay to take professional development courses and/or attend conferences but if keeping costs low is a priority, you have other means to keep your skills current.

For starters, make it a ritual to peruse at least weekly the business section of your local newspaper, so that you’ll obtain information that pertains to your local marketplace. Read also at least one national business-themed publication to keep yourself apprised of national trends and happenings that might eventually impact how you do business or influence how your clients might respond to your products and services.

In addition, promise yourself to read at least two business books in 2024. Improve your understanding of financial management and how that knowledge can be applied to grow your business when you read Financial Intelligence (Karen Berman, Joe Knight & John Case, 2006) https://www.barnesandnoble.com/w/financial-intelligence-revised-edition-karen-berman/1110913346 . You’ll thank yourself for reading Good Charts: The Harvard Business Review Guide to Data Visualization (Scott Berinato, 2016) https://www.barnesandnoble.com/w/good-charts-scott-berinato/1122655992 when you learn how to design and present charts and graphs that enhance your next client meeting or speaking engagement. Last, here’s an international list of 25 top-rated consulting themed podcasts for your edification https://podcasts.feedspot.com/consulting_business_podcasts/.

6. Exercise

Numerous studies demonstrate that regular vigorous exercise contributes to a healthy body, greater energy and stamina and sharper cognitive skills. You might play a sport and make a date to play once or twice a week and visit the gym on other days. Or, you might swim, bike or run twice a week and lift weights once or twice each week. If the weather interferes with outdoor workouts, you can always find an online class. The point is to exercise regularly. Early morning workouts are an unbeatable way to wake up and get your energy and creativity flowing. Since you’ll wake up at 5:00 AM, why not start your workout of choice at 6:00 AM?

7. Embrace AI

Exploring how to most efficiently use Artificial Intelligence will probably dominate the technology strategy of most of you this year. You may get some insight from the marketing automation and bookkeeping/ accounting software that you use. Expect a continued rollout of AI tools that will save you time and help business productivity. You will be wise to devote a significant amount of time researching and staying up to speed on these very fast-moving developments. Keep an eye on Microsoft, they are in the lead.

8. Strategize growth with your accountant

Your accountant is uniquely qualified to counsel you on ways to promote the stability and profitability of your business entity. All you have to do is ask. Moreover, if you’re percolating an idea of making any major capital investments, or if you envision growth and expansion as goals you’d like to kick-off in the next 12-18 months, a face2face talk with your accountant is your first step. Make it a tradition to meet twice a year with your financial guiding light; May and September seem like good months for a money talk.

Thanks for reading,

Kim

Image: ©️ Getty Images. Jennifer Capriati won the women’s singles title at Roland Garros/ French Open in 2001

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When to Hire, When to Outsource

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Increased sales and plans for expansion are a happy and exciting time for business owners . But as we discussed in last week’s post the bear market is in the house and caution is highly recommended. Along with confirming that customers will spend the way you need them to, you’ll also need to ramp up your operation in one way or another to meet the increased demand for what you’re selling.

Each of those scenarios requires a different type of staffing strategy—-maybe part-time, maybe full-time; temporary/ seasonal; possibly W2 and on the payroll or maybe 1099NEC Freelancer? There’s also the option to not hire anyone (unless your opening additional locations, for example). To figure that out, you’ll also need to make a realistic assessment of how much more work you can coax out of your current staff, without provoking a mutiny. Below are potential questions to ask yourself plus solutions for increased staffing needs at your growing organization.

Start your decision process by defining what “increased sales” means for your company. Is the plan to add e-commerce to your website so that you can sell products or provide services online? Or have you signed a new client and you’ll provide services on an ongoing basis—- or maybe the work will be completed in 4 months, but will keep you very busy? Maybe this is turning out to be a reality hot summer and the lines at your ice cream shop are halfway down the block? Below are practical questions to ask yourself as you figure out the best staffing solution for your company.

What function needs to be done?

HR, IT, bookkeeping and social media management are services that are often outsourced to a fellow Freelance expert or perhaps to a large company that operates nationally. Your company’s need for one or more specialized skills or labor may be ongoing, but the frequency of need may not require full- time work.

You can hire part-time help, but what kind of working relationship should you enter? Can you afford to make a commitment to pay someone maybe 10 or 20 hours per week, every week, as a W2 employee? Are you confident that your revenue will support the expense?

If it seems reasonable to assume that you’ll have the cash-flow and you have a good relationship with a particular vendor and you’d like to maintain that, then make a salary and time commitment offer. You might propose W2 status to someone who’s worked in your organization as a 1099NEC (who will be very happy to have taxes taken out during every pay period and eliminate at least one source of quarterly tax filing), or hire a newly recruited person.

Do you anticipate short-term or long-term deployment?

Obviously, if you need labor or a skill set—-grant writing, meeting facilitation, website developer, or seasonal help (Christmas rush or summer help?)—-for just a few weeks or months, you hire 1099 NEC workers. The labor or skill set may be mission- critical because a lot is riding on its fulfillment, but you need it only for a special project or defined time.

But if sales at your bakery are up and the line for coffee and muffins is noticeably longer, then you’d be wise to hire one or more W2 employees to shorten the wait time, avoid over- working and frustrating your current employees (which could lead someone to unexpectedly quit and leave you in a bind) and maintain the positive customer experience.

Which costs more–1099NEC or W2?

There are costs and other downsides associated with both outsourcing and hiring permanent employees. Sometimes, calculating the costs, of dollars and other factors, can help you reach the most favorable. or least onerous, decision. Your HR/ payroll and benefits management service (which may be in-house or outsourced) can research the expenses associated with bringing in a W2 employee. A visit to indeed. com or Upwork can let you see the ballpark range of hourly or project Freelancer rates.

The bottom-line cost of hiring a 1099NEC Freelancer will be lower than the cost of hiring a W2 employee, but there are sometimes persuasive reasons to do the latter.

Calculate the time needed to get each choice up and running (onboarded)

The answer to this question has big impact. While you may have the money to hire a W2 employee and even prefer to install a permanent team member into a mission-oriented position, you may realize that hiring an experienced Freelance consultant to do the job will allow you to get things done much faster.

Your Freelancer will be a hired gun who possesses deep expertise, a pro who needs minimal onboarding and training to successfully produce the deliverables. Because your Freelancer probably concentrates his/ her work on just three or four related competencies, the quality of the work and knowledge brought to the table will be deeper and more specific. Going immediately to a Freelancer means you bypass the potentially time-consuming hiring process and obtain the skills or labor you need ASAP.

Do you want a boss-employee relationship?

Working with a permanent (well, more or less) team is a different dance. it’s a longer-,term relationship and it demands a different kind of leadership—more intense. If you enjoy this kind of stuff, you’ll get to help someone grow professionally nurtured by the training opportunities that you provide, through a combination of assignments that you initiate, skills building workshops that you make available and career development pep talks that you give.

Thanks for reading,

Kim

Image: The Stone Breakers (1849) Gustave Courbet (France, June 1819 – December 1877). The painting was destroyed along with 154 other paintings in February 1945, when a transport vehicle moving the art to the castle at Konigstein, near Dresden, Germany was hit by Allied forces (“friendly fire”).

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New Year’s Resolutions for 2022

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Happy New Year! I’m psyched to welcome you to 2022 and thank you for stopping by to read. There can be no party without you and together, we are going to make this a very good year. Because we’re at the top of the year, capodanno, as the Italians so eloquently say, I’ve decided to revive my New Year’s Resolutions tradition, something I haven’t done since January 2019. Considering what the entire world has been slogging through since 2020, you may appreciate some inspiration to get yourself in racing form.

Join a business group

Freelancers and other business leaders need community. It can be lonely at the top. You need a way to meet and interact with peers, whether or not they become your besties. Business organizations and professional associations provide forums where Freelancers and (small or mid-size) business owners can talk to colleagues who understand your challenges and motivations. Along the way, you’ll build personal connections and you may also find your way to business opportunities.

If you’re not sure where to start, visit the website of your local chamber of commerce; the chambers are great resources for B2B, B2C and B2G facing business owners and leaders. Another useful organization is The Freelancers Union, an online national group that is a good resource for all types of information, from professional development workshops designed for self-employed professionals to medical, dental and other types of insurance coverage. https://www.freelancersunion.org/

Analyze your website and social media data

Fully leveraging the potential of the digital presence of your company is unquestionably a must. Whether selling to B2B, B2C, or B2G clients, the winners are those who are guided by actionable data when making decisions and developing business strategies. If you haven’t done so already investigate Google Analytics, a free and powerful online tool that helps you discover the right approach to the customer journey and customer experience that your company offers, supplies e-commerce, call-to-action and landing page insights, plus more. https://analytics.withgoogle.com/?utm_source=google-growth&utm_medium=cpc&utm_campaign=2019-q4-amer-all-gafree-analytics&utm_content=analytics&gclid=EAIaIQobChMIsILp4eCW9QIVDovICh2FKAT0EAAYASAAEgJPJPD_BwE&gclsrc=aw.ds
If you can budget about $25-$50/month, invest in a social media analytics service such as Zoho Social, Hootsuite, Buffer Analyze, or HubSpot to further enhance and refine your strategies and campaigns and measure ROI.

Become a better leader

There are multiple paths that one might take to developing and enhancing leadership skills and it can begin with reading. Reading one or more leadership themed books each year will open your mind and make you rethink your usual approaches to problem-solving, decision-making, negotiation and communication, for example. I’m a regular reader of the Corner Office column that appears in the Sunday New York Times.

You may be inspired by this tale of entrepreneurship The Unfair Advantage (2020) by Ash Ali and Hasan Kubba https://www.goodreads.com/en/book/show/50714359-the-unfair-advantage

You may be shocked but intrigued by this tale of commodities trading The World for Sale: Money, Power and the Traders (2020) by Javier Blas and Jack Farchy. https://www.goodreads.com/en/book/show/52199304-the-world-for-sale

When you join a business or professional group, you’re also likely to be introduced to leadership roles in the group (on the membership committee, for example). The chambers and also Rotary Clubs can introduce you to local not- for-profit organization leaders, who can show you how you might contribute your time and talent to a philanthropic cause that resonates and further expand your network, enhance your brand and maybe add to your skill set as well.

Prioritize revenue generating activities

Decide which of your revenue-generating activities could pay off if you plan well— then follow through and execute! Depending on your business and target clients, it could be email marketing outreach to potential prospects, attending certain conferences or trade shows, sending hard copy direct mail appeals, or running FaceBook ads. Once you know what your revenue-generating strategy will be, calculate about how much time you’ll need each week or month to gain traction and meet your financial goal. Then, get to work.

Communicate with clients

Staying in contact with clients throughout the year is good business, even when you reach out to those you haven’t worked with for a few years. Through your outreach, you remind clients past and present that 1.) you’re still in business and 2.) you may be able to help them with achieve a goal or solve a problem. A few years ago, a study by the uber-consulting firm Bain & Company confirmed what decades of anecdotal evidence shows —- that it’s easier to keep an existing customer than to find a new one.

So send a copy of your newsletter, blog, case study or white paper to clients, attached to a quick and friendly email that mentions a couple of reasons why they’ll find the read worthwhile. Also update clients when you give a talk, moderate a panel, or appear on a podcast. Pick up the phone and invite your most important clients to lunch.

Delegate or outsource

Delegating, or outsourcing if you work alone or with a small team, is essential for you to be able to have time to yourself and think about how to find innovative ways to expand your business. If you want your business to thrive and grow, you need to start trusting the people on your team, or identify other talented and trustworthy Freelancers, to take over certain tasks.

Upgrade your skills

The world keeps turning, expectations evolve and what we need to know to maintain the trust and respect of current and future clients shifts with the times, along with how we package and deliver the services we offer. What expertise do you need to own to better reach or more effectively serve your clients? What do you need to know to more efficiently run your business?

Help yourself to figure things out by reading articles that address your industry and niche within it—-what new technologies are gaining traction or what are new uses of existing technologies? What are the thought leaders in your industry and niche predicting? What are your clients doing to position themselves for future demands?

With that information in hand, you’ll understand how to upgrade your skill set. Maybe you’ll finally become truly proficient in using Excel, or learn to become more comfortable giving virtual presentations.

Nurture your health

Unless you’re up against a big project deadline, structure your time to allow yourself to have a day or two off once a week. Burnout is bad for business. Allow yourself to sleep the number of hours your body needs (adults usually need 7-9 hours daily). Eat a balanced diet that contains the basic food groups. Give yourself a daily intake of water that approximately equals one-half of your body weight in ounces. Participate in moderate to vigorous exercise at least three hours each week. Maintain your social connections by staying in touch with friends and family.

Thanks for reading,

Kim

Image: © William Stephen. Thoroughbreds racing at the Saratoga Race Course in Saratoga Springs, NY

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2021: The Comeback

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It’s a New Year and now is the time to engineer a fresh start for you and your business. Take a few deep cleansing breaths to clear your mind and allow the big picture of your business, competencies, clients and relationships to come into view. Now you’ll be able to pull up the strategic insights and resourcefulness you’ve honed over the years and brainstorm how you can reposition your company to outwit the COVID-created obstacles that have hemmed all of us in over the past nine months. If the virus can adapt and retrench, so can you!

Predictions for the viability of several once thriving industries is less than optimistic, I’m sorry to say, but some Freelancers and business owners will be buoyed by other industries that flourished during the pandemic and can be expected to continue to do so. Among those fortunate few are:

All aspects of healthcare, from Freelance grant writers who work to obtain funding for life sciences research, which includes the development of vaccines, to start-up entrepreneurs who seek to patent and sell medical devices, to owners of medical billing services.

All aspects of technology, from Bitcoin entrepreneurs, to experts in cloud computing solutions, including digital data storage, to those who provide Artificial Intelligence solutions.

Prepared meals, available for curbside pick-up or delivery, were already trending upward and sales have skyrocketed since the advent of pandemic quarantining. While some who got an early start in the marketplace are succeeding by offering meat-potatoes-and gravy American standard menus, recent successful home meal caterers seem to be following the advice of 1930s burlesque queen Gypsy Rose Lee—-you’ve gotta have a gimmick. The popularity of Keto, vegan, organic, vegetarian, gluten-free and Paleo menus are claiming an increased market share.

Because so many of us are at home all day, unemployed, underemployed, working from home, overseeing children’s online schooling and unable to access our usual social outlets and networks, the cocktail hour has taken on a renewed luster. In other words, business is brisk at wine and liquor stores.

If you’re not a good cook, not a techie, you’re not an engineer who can develop a product, you have no interest in writing grants and could never raise the start-up capital needed to open a liquor store, all is not lost. The second-oldest Freelance career, real estate, is still going strong, particularly in the residential sector.

Condominium and co-op sales at the 8-figure top of the market in big cities have been softening for about two years now, but sales in sun belt states and suburban communities are doing very well. COVID has caused all of us to spend much more time at home and families require more living space now that the adults are often working from home and both need a home office. Children need not just a playroom, but also an in-home classroom for virtual school.

Furthermore, many who now work from home are looking to get out of small and expensive city apartments and move to the suburbs. Now that there is no more commute to the office or access to the entertainment, culture and networking opportunities that once justified the price of urban life, why continue to feed your greedy landlord?

Freelancers who have at least mid-level sales skills and are curious about entering the real estate field should first explore the trends in their locale. Finding a friend who is a licensed agent to tutor you in the ins & outs of the business would be a useful step two. Next, obtain a real estate license and try your luck with rental property to start. Maybe your real estate mentor will recommend you to a company who’ll bring you in as an agent.

Expect and prepare for change

Have you noticed that those who so cavalierly lecture others to welcome and embrace change are nearly always untouched by the change they tell the rest of us to welcome? Change may be inevitable but it is nevertheless unsettling and is sometimes destructive. We have good reason to fear change because the outcome can be ruinous. That said, life is all about managing risk, avoiding or overcoming obstacles and recognizing and pursuing opportunities.

We must all prepare for change, whether we see it approaching or get blind-sided by its sudden impact. Create your ongoing risk management strategy by keeping up with professional development. Regularly read up on developments in your industry so that you’re not caught unawares by policy or customer preference changes. Investigate technologies that will make your company more appealing and responsive to clients and make doing business with your organization more efficient. Always, look for ways to conserve cash.

Stay abreast of customer priorities

Understanding the needs and emerging priorities of clients enables you to recognize future business opportunities for your company and that information will be a crucial component of your nimble response to change and crafting a successful comeback. Including a short customer survey with an invoice will give clients a chance to voice how they feel about your products and services, tell you how your organization can improve and might even give you early warning on the next big thing.

Talk to your clients and learn what you can, politely and over time, to learn what keeps them awake at night and what they’re prioritizing now, or may prioritize in the near term.

Expand your client list, even if you’ve been lucky enough to work with an organization that has prospered during the pandemic and is giving you generous billable hours or sales. As we know, things can change. Back up, back up, back up.

Work smart

I don’t care what anyone says, I still feel that good luck, good timing and knowing influential people are the determining factors in building a successful business enterprise. Hard work matters, too, but billions of people on planet earth work hard every day and starve as they do. Working smart is the better choice, even if your luck and timing aren’t so great and no one’s looking out for you.

Meeting the right people is helpful, but it’s always been random and is difficult to do by way of videoconference, a method of communication that is not conducive to bonding with new colleagues and friends. It’s probably best to look for ways to refresh relationships with strategically placed friends and colleagues who you feel may be inclined to help you. You should also consider ways that you might help them as well and make that known, to get the reciprocity rolling.

Be ready for whatever good luck or timing might come your way by being visible and looking viable. Participate in virtual business or social events so that you’ll see and be seen. Use the chat function to message colleagues and privately say hello and potentially suggest a socially distanced coffee or drinks meet-up.

There are no guarantees but taking steps to package and present yourself and your company as prepared, proactive, nimble and viable is the surest route to your successful comeback.

Thanks for reading,

Kim

Image: Sylvester Stallone (L) and Burgess Meredith in the Academy Award winning movie Rocky (Best Picture, 1977)

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Doing Business As

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To forge a successful career as a Freelance consultant requires courage, resilience, possession of marketable skills, relationships with people who are willing and able to help you get hired into one money-making opportunity or another, an affinity for selling, the discipline needed  to set goals, a talent for big picture thinking and setting strategies, and an understanding of human nature and motivation. The ability to attract good luck and dodge bad luck helps, too.

Precious few Freelancers are able to just “go to the office” everyday and take on the usual work.  In order to generate an acceptable number of billable hours, we understand that multiple revenue streams must be created and that we must learn to recognize the marketability value of segments of our overall skill set and learn to  package, promote and sell those segments to prospective employers, as well as target clients.

Take my revenue streams, for example. When asked, my short form elevator speech is that I’m an external consultant who provides business strategy and marketing solutions to for-profit and not-for-profit organizations. What that means in reality is that I’ve facilitated strategic planning meetings at not-for-profit organizations; edited a book and also served as its photo editor and project manager (it was published by the sponsoring organization); developed curriculum for a series of 90 minute sales skills training workshops; periodically teach business plan writing; and was made a staff writer at an online magazine targeted for women entrepreneurs.

Yes, I continue to do the business strategy and marketing assignments, but the fact is that there are always assignment gaps and I’ve learned to branch out and offer related skills that enhance my brand as they allow me to make some much-needed money.  In my experience, it is the ability to leverage your additional competencies that help a Freelancer to create and sustain a profitable business venture.

My friend Adela is a busy educational consultant who works with college bound high school juniors and their parents to first identify suitable colleges for the student and next to navigate the application process.  Her business seems to be quite lucrative, yet she nevertheless teaches Spanish at a local college (Adela was born and raised in Mexico and came to the U.S. to attend Harvard University).

Jackie, a friend of many years, launched a small, full-service fitness center that became very successful in that highly competitive market.  Yet Jackie has continued to teach fitness classes and train clients at a large downtown gym. Why? Not only does she earn a few extra dollars that a mother of four can always use, but also gets to observe sophisticated fitness center management from the inside and also receive instructor training in new fitness techniques that she can evaluate for inclusion in her own gym. Sometimes you can get paid to research the competition!

My friend Carole toggles between Freelance marketing for technology companies and corporate positions in that sector.  She’s a Lotus alumna who’s also worked for tech giant EMC, distinctions that command respect and open doors in the tech industry.  In between corporate gigs, Carole goes out on her own to develop marketing strategies for tech start-ups.  A couple of years ago, she was offered a position as director of marketing at one of those start-ups, but when the inevitable reorganization occurs, she’ll re-enter the Freelance life.

Now you, Freelancer friend, what else can you do to create additional revenue streams for yourself and if possible, enhance your skill set or obtain useful competitive information?

Sometimes an opportunity that is outside of your brand and strictly for cash-flow may present itself and I suggest that you discreetly take it anyway.  As long as running into prospective clients is not a danger, if time and energy allow, a pragmatic Freelancer understands the necessity of promoting cash-flow whenever possible.  Build up your retirement account, or use the money to attend seminars that provide professional development and potentially good networking.  It’s all about doing business as a solvent and successful Freelance professional.

Thanks for reading,

Kim

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A Politically Correct Skill Set

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Besides the whims of fortune (and luck is an enormous force in the universe),  what differentiates a successful person from an unsuccessful person? What defines a successful leader?  According to Samuel Bacharach,  co-founder of the Bacharach Leadership Group,  successful leadership is defined by the ability to rally support for an idea and inspire others to collaborate with you and help bring that idea to fruition.  Regardless of the quality of the initiatives that you’d like to advance,   you cannot lead without possessing highly developed political skills.  In the absence of good political skills,  the most brilliant plans will die on the vine.  A good agenda will never be realized and a legacy will be greatly diminished.

Bacharach says that the essence of political competence is the ability to understand what you can and cannot control.  One must identify who will support the initiative,  who will oppose and when the time will be right to go public and move forward.  Those who possess political skills get things done because they take the time to think things through.  The politically skilled will not naively or arrogantly move forward alone,  but will instead win over the right people and build a coalition to take on the project. “Anticipating the obstacles your idea might face when you present it is a political skill that can help you get across the finish line”,  says Bacharach.  Politically skilled leaders will consult with a trusted ally or two to reality test their concept,  create a list of potential allies and detractors,  decide who to recruit for the launch team,  calculate the best time to move forward and create a roll-out strategy.

Political skill means knowing how to map out the battlefield terrain,  convince people to join your team and lead a coalition.   The best ideas do not always win out,  but the best launched ideas always have a good chance of seeing the light of day.  The highly respected movers and shakers in life are yes,  the luckiest,  but also they have political skills.

Some are born with a highly developed political skill gene,  but it is possible to improve your skill level.  As noted above,  taking the time to think through the arc of the initiative’s development and roll-out is a good place to start.  Who is likely to support you?  In whose interest might it be to see the project realized?  What can you do to make potential allies see that it will benefit them to support the project? Which of your allies has enough power to make things happen and bring other high-ranking players to your team?

Now who are likely to be detractors,  active or passive—who will feel threatened by a perceived  (or actual)  loss of power and influence if your plan is adopted?  Who might be able to withhold resources  (funding)  or start a whisper campaign to undermine you?  Can your team overcome these matters? Are there cultural,  historical or other barriers that you might face?

Assembling your winning coalition is the next step.  Work only with those whom you trust and respect and know that the feeling is mutual.  Be certain to compile a list of compelling benefits that will help you sell the merits of your idea to those with the power to make it a reality.

You may want to approach the mapping of the political terrain as strategic planning and conduct a SWOT Analysis (Strengths,  Weaknesses,  Opportunities and Threats),  to help you visualize the resources you hold,  any gaps in your war chest,  obstacles that you will likely face and opportunities that may strengthen your position along the way.  Anticipate the arguments that will be made against you.  Sell the benefits that will overcome those arguments and convince  (powerful)  allies to support your position.  Collaborate with supporters to bring your initiative to life.  Be an effective leader.

Merry Christmas,

Kim