Tag Archives: going out on your own pursuing the passion



Going out on your own: Pursuing the Passion 47 & 48

March 11th, 2010

#47: Listen (and really listen)
Listen to your clients, be proactive, give them a call, find out their issues, problems, even if it’s not related to you. This is where your networking can pay off you may know someone that could help them, or a blog post you have read that could.

#48: Don’t pretend
Be yourself, let your business reflect that, you are attractive, maybe not to everyone, but to a big enough group to build a business off.

And that’s it! Well from me anyway.

I wrote this about a year ago one night, when I thought what would I tell someone starting where I started, I hope it’s been of value to you.  If you’d like to read the full thread go here.

Starting out is always tough, it’s not hard though (as millions of other people have gone through exactly the same process) so most of all be prepared to listen, swallow your pride and learn.  I’d rather you became a stellar success than quitting as you weren’t prepared to adapt.

I may turn this into an ebook or short book at some stage (who knows) but if you’ve anything to add or wanted to ask me a question about any of it just send me an email to [email protected] – let me know how I can help.


Going out on your own: Pursuing the Passion 44, 45 & 46

March 3rd, 2010

#44: Put some good karma out there
Do work for free, help another company that’s growing, if you don’t expect a return and it’s just for fun, much more rewarding, plus it’s free marketing for you.

#45: Leverage your communications
Leverage your story! Blog, podcast, write. Creating media that you write once but that can be read many times is the only way to truly build your business. There is only one you, so leverage your skills.

#46: Testimonials
Don’t be shy to get testimonials, these are a great way to enhance your brand but also when you ask you remind your client how good you actually are.  They also provide reassurance to potential customers and minimise perceived risk.


Going out on your own: Pursuing the Passion 41, 42 & 43

February 17th, 2010

#41: Sell products with low (or no) variable cost
Aim to build products that you can sell with no extra cost per unit, if you can write some ultra niche ebooks, provide some training materials, videos, the cost of selling an extra copy is nill. It is so refreshing to wake up and find you have supplemented your income with no additional effort.

#42: Implement Investing Ethos
Take a portfolio approach to your clients, have some casual month to month steady income clients, some mid risk clients (risk as in non consistent cashflow) and high risk. My magic number is 7, I can have 7 projects total being worked on, in the works, or wrapping up. Often it is 2 steady income, 2 ‘projects’ or semi risk and 3 in the works. (My rough rule of thumb) Depending on your type of business you may need to have less.

#43: Upskill
Upskill yourself constantly and share your new skills (hint heres where a blog comes in handy).


Going out on your own: Pursuing the Passion 38, 39 & 40

January 24th, 2010

#38: Read
Read as much as you can (i suggest local library as FREE!) but buying books also works, second hand books just as good as the real thing.

#39: Read some more
Read blogs on all facets of business, cashflow, finances, marketing, delivery, there is an infinite amount of free advice out there, filter the best ones and listen.

#40: Rewire your brain
Take yourself into exact opposites, try a new sport, a new hobby, read a case study on a different industry. Exploring them will help you understand your own business better.


Going out on your own: Pursuing the Passion 35, 36 & 37

December 20th, 2009

#35: Deliver the unexpected
Remember your client delivery doesn’t end when the final payment comes in, follow up, give them some surprise bonuses, unexpected benefits are the cornerstone of my client delivery.

#36: Quit! (fail fast)
Quit and quit often. I fail at lots of projects, it helps me to recognise something is failing and quit early.

#37: Persevere
Persevere.. the rewards really do come to those that turn up and turn up consistently. My theory is every interaction you have is a potential customer in the waiting, not in the next 3 months but the next 5 years, they will either have a need for your product or have an encounter with someone who does. Your in this for the long haul, so act like that.


Going out on your own: Pursuing the Passion 32, 33 & 34

December 8th, 2009

#32: Time Out
Take time out. Have your limits. Keep home time, family time, your own time. This is essential.

#34: Reflection
Review and reflect every week, month and quarter to check your progress.

#35: KPIS
Set Key Performance Indicators and strive to achieve them.


Going out on your own: Pursuing the Passion 29, 30 & 31

November 30th, 2009

#29: Hiring the first person
Don’t hire someone, get them on a contracting basis for a while.

#30: Make every dollar work for you
Stretch every dollar as far as you can, and I mean as far as you can. Once I used to drink tea at coffee meetings to save a few bucks. (Cheap but was half the price of a coffee).

#31: Eco-System
Find out who your competitors are, send them work when you can’t help a client, it’s an eco-system not a free for all.


Going out on your own: Pursuing the Passion 26, 27 & 28

November 15th, 2009

#26: Financial Buffer
Once you can, build up a three month buffer and keep it there, you never know what is around the corner, I know it’s tempting to invest that amount or use it for something, but the way I see it the return you get by having a three month buffer in case something goes wrong out performs the alternatives.

#27: Blog
Blog. Blogging is the #1 marketing tool. Use it to your advantage; like networking, blog with the intention of helping your customers, you don’t need to give everything away, but answer the common questions, share your experience, compare/contrast competitors, industry news. By helping your audience you build your brand, stimulate an otherwise non existent conversation and build a community.

#28: Avoid fixed costs
Avoid taking on fixed costs, keep everything variable, this helps avoid negative cashflows and ensures flexibility when you need to keep costs to a minimum.


Going out on your own: Pursuing the Passion 23, 24 & 25

November 9th, 2009

#23 Charging
Forget hourly rates, charge value based fees.

#24 Tom Peters advice: meet the crazy people
Meet at least 1 totally new person a week for lunch, if possible do 5 new people, but at the very least do 5.  Take them to lunch, have a coffee, learn about their business, what they do, how you can help, share what you do.

You will learn a lot by hanging around new people, you gain zero by talking to people who already agree with you on everything.  This is my favourite way of building my business getting to know people.

#25 Invest in yourself
Invest in top tools, don’t skimp on yourself, if you use a computer, get a top computer.  Getting the top tools of the trade communicates to yourself and your clients you are serious.  (This isn’t always easy when you start out, but keep it in mind).


Going out on your own: Pursuing the Passion 20, 21 & 22

October 7th, 2009

#20 Get clarity around your model
Decide early on, is this going to be a business I grow? or all about me? (ie this business is only ever going to be me). That reflects your company direction, decisions, operating model… future planning. Note you can change your mind about this, but at least have a direction initially.

#21 Build a board of directors
Build a board of directors, family, friends, clients, those who have an intrinsic interest in your business. Report to them cashflow, sales, metrics. Just having to report to someone will remind you of what you’re doing.

#22 Diversify revenue
Diversify your revenue streams, never have all your eggs in one basket, ebooks, retainers, speaking, courses, hourly work.


Going out on your own: Pursuing the Passion 17, 18 & 19

September 24th, 2009

#17 Client Obsession: Turning clients into your sales team
Your clients are your best sales people, so look after them, obsess about their business, recommend their product to others.

#18 Referrals build a solid business
Your #1 business driver should be referrals! Why? Once you have a tight client base who know how you operate, what you deliver, they will naturally attract similar clients.

#19 Remember to say NO
Say no to clients. Forget the ‘i need cash asap’ and do things you wouldn’t normally do, maintain your focus and instead in tough times innovate. You will find much more reward in innovation than taking work that you don’t like. It doesn’t build your core business, doesn’t pay well, and isn’t growing anything.


Going out on your own: Pursuing the Passion 14, 15 & 16

September 8th, 2009

#15 Follow up (and stay in your customers frame of reference)
Follow up! and follow up consistently. Remind your past clients what you offer, see if you can help them. One client of mine went through a court case so had no funds for several months. We cut the project back, I offered to help pro bono, if they kept writing blog posts I would keep putting them up, thus ensuring they maintained return on investment. You think that client is ever going to leave me?

#16 Think Long Term
Clients are for the long term. Do not rip them off, burn their business. Repeat clients pay more and earn you more due to efficiencies.

#17 Clients as your sales team
Clients are your best sales people, so look after them, obsess about their business, recommend their product to others.


Going out on your own: Pursuing the Passion 11, 12 & 13

September 3rd, 2009

#11 Invoicing
Charge 50% up front and collect. Never ever do the invoice at the end of the month collect the 20th of the following month. Only for continual work but never start out this way.

Small businesses are using you as a free credit limit. Charge 50% up front, this filters clients immediately to those with cash and reminds them of your importance. It will also motive you to get the job done when you have that first 50% in the bank.

#12 Pay your suppliers
Pay all your suppliers asap, nevermind their terms, if you can pay them straight away do it. Why? Suddenly you become their most valuable client and thus get top priority. It is good karma too, they are more likely to recommend you to others, hey i work with this great dude Ben…fantastic to work with.

#13 Link services to bottom line
Only offer services that can build someone elses business, link your services to real returns, in the current times it is a no brainer to invest in services that will grow your business.


Going out on your own: Pursuing the Passion 8, 9 & 10

August 11th, 2009

#8 Exercise
Develop a weekly exercise plan, I suggest running (any other simple exercise good), the idea being to not only keep yourself fit but to give you time to detox away from the family, work, clients pressure.

#9 Health is now a top concern
Eat healthy. Huh you ask? Well when you run your own business it is all about you, you need to be physically healthy to do your job well, as when your not well you don’t earn.

#10 Be flexible
Get used to flexibility, running a business is not strictly 9 – 5, for the first 6 months you are likely to have to work up to 80 hours in a week. Hang in there though, it gets better, once your business grows you can decrease this to your comfort level. Mine is about 20 hours a week.


Going out on your own: Pursuing the Passion 5, 6 & 7

August 3rd, 2009

#5 What should you charge?
Whatever you were earning per hour in your fixed job, charge three times that (at least) to maintain the same lifestyle in the long run.  If you are charging less you are doing yourself a disservice.

#6 Avoiding Financial Burdens
Get rid of all high level debts, do not go out on your own with huge credit card debt or car loans, try to clear these.  These will just give you un-needed stresses and pressures.

#7 Confronting your fears aka being courageous
Starting a business is super hard, going out on your own is even harder.  Be ready to get comfortable with confronting your fears.

Whatever you were earning per hour in your fixed job, charge three times that (at least) to maintain the same lifestyle in the long run.  If you are charging less you are doing yourself a disservice.
Get rid of all high level debts, do not go out on your own with huge credit card debt or car loans, try to clear these.  These will just give you un-needed stresses and pressures.
Starting a business is super hard, going out on your own is even harder.  Be ready to get comfortable with confronting your fears.


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