Starting up on your own How to succeed as an independent consultant or freelance

by Johnson, Mike

• ISBN13: 9780273731177
• ISBN10: 0273731173
• Edition: 1st
• Format: Paperback
• Copyright: 2009-12-17
• Publisher: FT Press

Summary

"I wish this book had been available when I began my independent career. There's only one word for it PRICELESS!!!" -Shay McConnon, psychologist, trainer, coach, magician and mentor "Grounded in common-sense and humour and very clear about what can send you off track. - Norman Walker, former global head of Human Resources for Novartis, now an independent senior executive coach and consultant on leadership "A MUST read, for anyone thinking about life outside the organisation" - Goran Hultin former Deputy Director General at the ILO (International Labour Office), now a successful independent consultant HOW TO WORK FOR YOURSELF AND MAKE IT WORK Are you thinking of starting up on your own and working for yourself? Do you need to know the nuts and bolts of setting up; marketing yourself and prospecting for new business; keeping things running on a day-to-day basis? Have you already made the leap and want to get more work, new clients, higher fees? This practical, no-nonsense book pulls no punches and gives you all the guidance you need to set yourself up and get work in the first place, plus all the know-how you need to survive, prosper and expand once you're up and running. See the book's website atwww.pearson-books.com/startinguponyourownfor up-to-the minute financial and tax information for small businesses and the self-employed. This book was previously known as Smarter Consulting. IF YOU NEVER WANT TO WORK FOR SOMEBODY ELSE AGAIN, YOU NEED STARTING UP ON YOUR OWN! Chances are that if you''re looking at this book you are at least thinking about taking the big step of going it alone. Or you''re already in business as an independent and you want to get better at it. Well, you''ve come to the right place. Starting Up On Your Owncovers everything you need to get ready to work for yourself and, once you''ve taken the plunge, how to develop your business and stay the course. If you're not already in business, the first step is to decide if this is the right path for you. To help you with this critical decision, this book takes you through the reality of what''s involved and has a unique self-assessment quiz to help you check out your suitability for the independent working lifestyle. You're probably an expert in your chosen field. That's great: you'll be selling your expertise. But when you''re working for yourself you have to be good at a whole lot of other things too. Starting Up On Your Owncovers everything you need to do to make money and survive as an independent. * Where do I start? * How should I market myself? * How can I get repeat business from my clients? * How do I win new clients? * What should I charge and what do I need to do to make sure I get paid on time? * When can I put up my fees? (And when shouldn't I?) * Can I work from home? * How much will I need to invest? * Should I hire someone else to work for me? * How shall I organise my time? The answers to all these questions and more are right here. What are you waiting for? Mike Johnsonbegan life as an independent, freelance consultant in 1982, before founding a corporate communications firm in Brussels and London, following a career in journalism and corporate communication for multinational corporations. In 1999 he started again as an independent consultant and freelance. This book is about what he has learned on his freelance journey. His focus today centres around the world of work, talent management and corporate communication for both private and public organizations The author of eleven books on business and management issues, including Winning the People Wars, Talent Magnetand The New Rules of Engagement, Mike also developed a series of World of Work studies for the Financial Timesand The Economist and for many international corporations and consulting firms. A frequent speaker at conferences and seminars around the globe, he is the founder and chairman of the independent global think-tank the FutureWork Forum (www.futureworkforum.com). Oh, yes, he's also quite good at working for himself!

Table of Contents

Acknowledgements	p. xiii
Foreword	p. xv
Introduction	p. 1
Have you got what it takes?	p. 2
Why do you want to do it?	p. 3
Be a lion tamer, it's safer	p. 5
Star-crossed	p. 6
Independence: the new, new thing	p. 6
A trickle becomes a stream	p. 7
Have you got a plan?	p. 8
Seven, five or three days a week?	p. 9
Consultant, know thyself!	p. 10
Are you an entrepreneur?	p. 15
Could this be you?	p. 16
The multi-tasking megastar	p. 16
How's your network?	p. 18
What about money?	p. 23
Home Alone: creating your workspace	p. 24
The perils of partnership	p. 27
Independents are really loners	p. 28
Changing people, changing times	p. 28
Adding expertise	p. 29
Bring in the professionals	p. 29
Shoulders to cry on	p. 31
Can you smell trouble?	p. 32
How not to fall at the first hurdle	p. 33
The go-it-alone checklist	p. 34
Check yourself out	p. 36
Key learning points	p. 39
Getting out and getting going	p. 41
The escaping executive	p. 42
Consultants bail out too	p. 46
Back-to-work spouse meets downshifter	p. 47
The graduate	p. 49
The early retiree	p. 50
Key learning points	p. 51
Planning the successful start-up	p. 53
What not to waste time over	p. 54
Adminfrustration	p. 54
Invoicing	p. 56
...and the X-Files	p. 57
The production plan	p. 58
Set a routine	p. 60
Setting the pattern for YOUR work ethic	p. 61
Missing your mates and cabin fever	p. 62
The partner and the kids	p. 64
The social v. business thing	p. 65
Taking time off	p. 66
Playing the percentage game	p. 67
Keeping time sheets	p. 69
Never put all your beans in one tin	p. 70
Staying fit	p. 72
Health checks	p. 73
Health and work insurance	p. 73
Saving for the future	p. 74
Getting an office supplier	p. 74
Finding professional advice	p. 74
Financial advice	p. 75
Legal advice	p. 75
Banking services	p. 75
IT support	p. 75
Webmaster	p. 76
Other suppliers	p. 76
Insurance	p. 77
Key learning points	p. 77
The life of a salesman	p. 79
You think selling is sleazy	p. 80
You forget to sell	p. 81
You can't ask for the order	p. 81
chemistry	p. 82
Oh no! Not another logo!	p. 83
Registering your company name and domain name	p. 85
Whose rules?	p. 86
Confidence is a keyword	p. 87
Learn to ask for the business	p. 88
Help your client to help himself	p. 88
Intellectual property (IP)	p. 89
Key learning points	p. 90
Marketing yourself	p. 91
Sales materials - how much, how soon?	p. 93
Business cards	p. 93
Letterheads	p. 94
Envelopes	p. 95
Compliment slips	p. 95
The website	p. 96
The electronic calling card par excellence	p. 97
Learn to link	p. 98
The art of cold calling-don't	p. 98
Get yourself published	p. 100
Excuses to stay in touch	p. 100
Hot-topic seminars	p. 101
Platform marketing: conferences and seminars	p. 101
Samples and show reels	p. 102
Creating your own network	p. 103
If you can't do it - teach it!	p. 104
Charitable work	p. 104
Gifts to go	p. 104
Dressing for success	p. 106
Key learning points	p. 106
New business: getting it, charging for it, getting paid for it	p. 109
Creating your new business policy	p. 110
Rules for generating business	p. 110
Writing proposals that work	p. 112
When to chase for the business	p. 113
Make the PA your pal	p. 114
Setting fees and other money worries	p. 114
The variable fee game	p. 117
Marking up work	p. 117
Retainer business	p. 118
Expenses	p. 119
Recovering development costs	p. 119
Contracts and letters of engagement	p. 121
When the brief changes	p. 121
The gentle art of quoting	p. 122
Evolving the client relationship	p. 123
Getting paid	p. 123
Working with different client groups	p. 126
The big corporations	p. 126
The big consultants	p. 127
SMEs	p. 127
Public sector	p. 127
NGOs	p. 128
Transnational institutions	p. 128
Developing long-term client relationships	p. 128
Conflict of interest	p. 129
Paying suppliers	p. 130
Agents and alliances	p. 131
Key learning points	p. 131
Developing the business	p. 133
The solo operator	p. 135
Alliances, joint ventures and partnerships	p. 136
Hiring staff	p. 137
Contracting out	p. 138
Shrinking the business	p. 139
Checking out the marketplace	p. 140
Keeping up to speed	p. 141
Marketing others	p. 142
Keeping your culture	p. 142
Have you lost focus?	p. 143
Changing price structures	p. 144
Become a guru?	p. 145
Working with the competition	p. 146
Nightmare strategies	p. 146
Bail-out strategies	p. 148
A final thought	p. 149
Key learning points	p. 150
Creating YOUR workplace	p. 151
Deciding on your workspace requirements	p. 153
Can I work from home?	p. 154
Can I have a dedicated work area in my home?	p. 154
Will I have clients visiting my home?	p. 155
Can I create an external access to my home office?	p. 155
Planning your stand-alone office unit	p. 156
Planning permission	p. 159
Do I have room to expand?	p. 160
Are there alternative facilities in town - maybe share the costs with others?	p. 161
Fixing up the facilities	p. 161
Play safe	p. 161
Does it have a view?	p. 162
'...with one enormous chair'	p. 163
Where do all those office supplies come from?	p. 163
Back to THOSE rules	p. 165
The challenge of staying connected	p. 165
Staying ahead	p. 167
Get professional help	p. 168
Key learning points	p. 168
The travelling independent consultant	p. 171
Getting prepared	p. 172
Travelling light	p. 173
Luggage planning	p. 173
Travelling with clients	p. 174
Travel rules for independents	p. 175
Getting the best deals	p. 176
To book or not to book?	p. 178
Welcome to the throw-away society	p. 178
Charging travel time	p. 179
Expenses on the road	p. 179
Staying in touch on the road	p. 181
The workplace is where you lay your lap-top	p. 181
Airline lounge	p. 182
Hotel lobby	p. 182
Public places	p. 183
Restaurants	p. 183
Other people's offices	p. 184
Restrooms	p. 184
An ongoing challenge	p. 185
Key learning points	p. 185
Counting the cost (and the profit)	p. 187
What do you need to make it?	p. 188
What kind of business suits you best?	p. 189
Sole trader	p. 189
Limited company	p. 190
Are there other things you need to know?	p. 190
What about networks and partnerships?	p. 191
Networks	p. 191
Partnerships	p. 192
Getting in the professionals	p. 192
Accountants	p. 193
Legal support and solicitors	p. 194
Bookkeepers	p. 194
Bank managers	p. 194
So what are the ins and outs of business banking?	p. 195
Contracts with clients	p. 196
Working contracts with suppliers	p. 196
The taxman cometh	p. 196
VAT	p. 197
National insurance	p. 198
Income tax and corporation tax	p. 198
What can I claim for?	p. 199
Your legal obligations to the taxman	p. 199
Getting a bank manager you can work with	p. 199
You need a loan like a hole in the head	p. 200
Supplies, supplies, supplies	p. 200
Pension plans	p. 201
State retirement pension entitlement	p. 201
Hiring staff and subcontract help	p. 201
Accounting packages	p. 202
Domain names and intellectual property rights	p. 202
Working from home: claiming expenses	p. 202
Travel-the unromantic stuff you need to know	p. 203
Family and the independent consultant	p. 203
Cars and other vehicles	p. 204
Dealing with deadlines	p. 204
What's next for the independent consultant?	p. 207
More competitors and more opportunity	p. 208
Technology takes over	p. 210
Consulting in the virtual world	p. 211
Staying up to date	p. 211
Shorter relationships	p. 212
Selling to the organisation	p. 213
The arrival of the portfolio consultant	p. 214
Finally, the independent's secret	p. 215
Key learning points	p. 216
Appendix: Sample Consultancy Agreement	p. 217
Index	p. 223
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