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Make a commitment. You are not a temp -- you are a free agent. Start thinking of yourself as a company, even if you are just one person. Get serious or go get a full time job. Freelancing is not for the faint of heart.
Get a lawyer, an accountant, and, yes, an insurance agent. These may seem like overpriced luxuries right now, but running a business is complicated. You need expert advice right at the start for things like deciding corporate structure (corp, S-corp, LLC, etc.) and writing contracts. (Caution: DO NOT WRITE YOUR OWN CONTRACTS. You will live to regret it.)
Write a business plan. Even if you’re a one-man or one-woman show, this is important. Be sure to include forecasts, cash flow, and profit-and-loss projections. Keep your short-term business goals close at hand and refer to them often. Don’t be afraid to revise as you learn more about your business, clients, and industry.
Market before you need to. As part of your business plan, draft a marketing plan. Decide what you are selling and keep your messaging simple. Before you do anything else, have business cards made for yourself (and "don't leave home without them"). Then create a contact database of everyone you’ve ever worked with. Include former co-workers, vendors, friends, and anyone that might refer business to you. Add to that a list of dream accounts and start thinking about how you can market your services to them.
Build a website. Keep it simple, have a clear message, and for goodness sake, make sure your contact information is easy to find. (It's cheaper than hiring an administrative assistant.)
Get your financials in order. Don’t run your company's business out of your checkbook. Instead, get QuickBooks accounting software: it's easy to learn, and most accountants are comfortable reviewing books created in it. Open a business checking account and keep it completely separate from your personal expenditures and accounts. Save every business-related receipt, whether you think you'll need it or not.
Don’t be the bill-collector. Get someone else -- your mom, your spouse, anyone -- to make these calls for you. Let your clients imagine that you're thinking about their business, not chasing people for money all day.
Don’t forget to pay yourself, and to save. Yes, you need to re-invest in your new business, but don’t forget to look out for numero uno. Pay yourself a salary, and take excess cash out of the business at year-end. Most important, don't stop saving for your future. There are options out there for lone wolves like you -- ask your financial advisor about the SBO 401(k) (also known as the Self-Employed 401(k), Individual 401(k), or Solo 401(k)). But you don't have an HR department to help you fill out the forms, so you have to take the initiative.
GOOD LUCK!
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 | © 2006 The Hired Guns Marketing Consulting Group, LLC. All rights reserved. THE HIRED GUNS® is a registered trade mark owned by The Hired Guns Marketing Consulting Group, LLC.
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