IS THERE A TYPICAL DAY IN THE LIFE OF A SELF BOSSER?

Broadly speaking self bossers experience two types of ‘typical’ days.

The first is the day taken up by the important activities that establish client relationships - arranging appointments, visiting prospective clients and discussing their challenges and needs, writing proposals, and making follow up calls. The development of client relationships is an exciting process because you are being given the opportunity to work with that person or organisation and their unique goals, needs and issues.

Then there are the activities that build and strengthen client relationships. In my training and coaching practice these include the facilitation of workshops or projects with client teams, and coaching sessions with individual clients.

Other ‘typical’ activities that appear in my diary are the development of training materials and preparation for workshops, marketing activities, administering psychometric tests and writing up reports for clients, chasing up outstanding payments and general administration to keep my accountant and bank manager happy.

In the almost eight years of being self-employed I have learnt a great deal about running and growing a business and even more about myself. Going solo gives you full responsibility for you. As your span of control diminishes so your circle of power to influence others expands. Starting with your family, and widening to include your bank manager, the small business body you approach for help and advice, your accountant and clients.

Self-honesty, self-discipline and self-leadership tested me to the core. Having the courage to stand up for my dreams and make a success of things on my own terms was challenging and even horribly frustrating and terrifying at times. BUT I have never regretted going solo.

I would recommend the self-employed route to any who are budding entrepreneurs. I hope that my Going Solo articles have ignited the self bosser passion in your soul. Turn your business castles in the air into reality. Start building the foundations for your brilliant business now!

MORE ABOUT MARKETING YOUR BUSINESS

I talked about marketing a little in my previous article Dealing With The Ebbs and Flows Of Your Business. However, marketing is such an important business growing activity that I thought I would share a few more of the lessons I have learned.

My time spent in the corporate world and the help I receive from others enables me to effectively manage my business. However nothing I had ever done previously, prepared me for the challenge of marketing - attracting and securing work from unknown prospective clients.

The primary objectives of your marketing activities are to create awareness and generate business leads. I could not afford to hire someone to do this for me, nor did I have a large pot of money to spend on glossy brochures or adverts. (I subsequently learned that this is not necessarily the most effective marketing method.) I didn’t have a clue where to start and finally stumped up the money to attend a one-day workshop that provided me with a basic understanding of the ‘marketing mix' and exposed me to more effective ways of marketing my services.

Some of the lessons I have learned are as follows:

• Marketing your own business is an on-going long-term activity.
• Marketing activities you undertake this year may only bear fruit next year or the year after. Business plans and budgets are developed in annual cycles and time spent with clients or information you send to them today may not result in any profitable business for months to come.
• Mental toughness is an important prerequisite for marketing.

I have had to wait for up to three months for some clients to decide to go ahead with a proposed activity. During this time it can be very difficult to raise them and frequently they do not respond to attempts to contact them. All my insecurities rise to the surface and I’m left wondering: “Do they like my proposal? Have they selected another trainer or coach to deliver the work? Are they not calling because they think I’ll fall apart if they tell me they are not going to use me?”

Then out of the blue they will call to say they want to go ahead and can it be next week please! (Have I mentioned the need for patience and forbearance? I find repeating the poem, Hiawatha, helps!)

Perseverance and self-belief are important. A lack of immediate response does not mean that your promotional efforts are not working. A relationship takes time to build and prospective clients want to know you are here for the long term and serious about attracting their business.

Marketing need not be expensive. I publish a quarterly newsletter that includes articles such as ‘Does Success Cause Failure’ or ‘How Good A Boss Are You’ and that offers hints and tips on activities such as goal setting, networking and public speaking. The purpose of the newsletter is to create awareness in an entertaining and informative way, generate serious interest from prospective clients and keep in touch with existing clients. I had absolutely no response to the first three newsletters I published, but subsequent issues have resulted in enquiries that led to business and my subscriber list grows daily.

Use case studies to showcase your skills. I send out regular mailers that suggest ways in which my skills can benefit clients, I always add a mini case-study that show how others have already benefited.

Word of mouth is still the most powerful form of marketing. Ask customers for referrals. It is much easier to gain access to a prospect when you can tell them that someone they know and trust has suggested you might be able to help them too. Ask for testimonials and use these in your marketing materials and on your website.

Networking is to self-employed people what oxygen is to life. The life of a soloist is often a solitary one and networks provide support, opportunities for marketing, for gaining useful information, for learning and idea sharing, and they give you access to new clients, joint venture and business development opportunities. Take a look at my book, Magnetic Networking here http://jackieheadland.com if you want to shine as a networker.

Professional associations, your local Chamber of Commerce, Business Networking Groups etc all offer regular opportunities for networking. Offer to be a speaker at their meetings to really raise your profile in the local business community.

The Internet provides some useful networking opportunities. Use these to expand your networks, but remember that face-to-face is by far the most powerful networking method.

Some useful websites are:

http://www.ecademy.com/ - an excellent international on-line networking forum, I highly recommend that you join Ecademy.

www.alodis.com - offers advice and support for self-employed professionals.

http://gmarketingcoach.com/index.html - a site offering a free weekly newsletter sharing marketing strategies and tips.

One final thought: time is of the essence when attending networking events so develop an ‘Elevator Speech’ and be able to describe in 30 seconds what you offer to clients. (See the book Crafting Your Compelling Elevator Speech at http://jackieheadland.com)

When I first began my solo career and met people who asked what I do, I used to mutter some words that included management development, training and coaching. It was a wonder that I got any business at all!

My elevator speech is short and brief, ‘Hi, I’m Jackie. I’m a trainer and coach and I help people to shine.’ Some other examples of elevator speeches are:

“My company helps small businesses to streamline their systems and processes so they reduce their costs and increase their profits.”

“I work with individuals to help them discover how they can create and live an abundant life.”

“My name is Joan Danvers, I can provide you with the perfect gift at the perfect time and for any occasion without you ever having to go shopping."

A well crafted elevator speech will always get people to ask the magic question, "How do you do that?" Bingo! They want to know more about you and your busines and have given you the opportunity to ask them some questions so you can highlight how your products or services exactly meet their needs. From contact to hot prospect in 30 seconds - now that's what I call marketing your business!

CREATING YOUR BUSINESS PLAN

As a trainer I frequently remind trainees that ‘failure to plan is planning to fail’ and I offer this same advice to you. Planning is crucial before starting up your business and in order to build, grow and maintain it.

A business plan precisely defines your business, identifies your goals, and serves as your firm's CV. Your bank manager will want to see your business plan before opening your business bank account.

The basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis.

Your business plan helps you to allocate resources properly, handle unforeseen complications, and make good business decisions. Because it provides specific and organised information about your business it is a crucial part of any loan application. Additionally, it informs you and others about your operations and goals.

Before you begin writing your business plan, consider the following questions:

• What is it that you want to do and achieve?
• What service or product does your business provide and what needs does it fill?
• Who are the potential customers for your product or service and why will they purchase it from you?
• How will you reach your potential customers?
• Who are your competitors?
• How will you make your skills/products/services so attractive to prospective clients that they will choose you over your competitors?
• Where will you get the financial resources to start your business?
• How are you going to develop your business for the next year? For the next three years?
• Where do you see your future work coming from and will you have the resources (people and money) to handle it?

Whenever I'm coaching start-up self-bossers they always ask, “What will happen if I fail?” I always point out to them that one of the major reasons for failure is that entrepreneurs rarely plan for success.

• How would you handle landing a large contract that cannot be accomplished by you alone?
• What would you do if your business were to suddenly burgeon beyond your wildest dreams?

It is critical that you invest in preparation and planning before launching ‘You plc’. There are a number of organisations and people who can help you. I found my bank manager, the local Enterprise Trust and Small Business Gateway to be extremely generous with time, information, advice and services. There are some excellent business coaches out there too. Ask around and find out who other self bossers go to when they need help and advice.

My accountant gave me useful advice when setting up my business and meets with me every three months to give financial guidance for an affordable annual fee. In addition I have used a business coach, a website coach, and a life coach when I felt I needed extra help.

Join business groups and associations where you can learn from more experienced entrepreneurs and share experiences with them. Your local Chamber of Commerce or Business Network Association are good places to start. Again ask other self bossers where they go to get help and advice when they need it.

You can find a number of useful articles/resources to help you with your business plan at http://www.businesstown.com/planning/creating.asp

DEALING WITH THE EBBS AND FLOWS OF YOUR BUSINESS

Are you comfortable with periods of insecurity? Is your significant other similarly comfortable?

Ask any self employed person and they will tell you that a solo career is a lot like Pharaoh’s dream about cattle: sometimes fat and sometimes lean. I either have so much business that I work till all hours to keep up and neglect my family and friends in the process, or have very little going on. I have not yet managed to get to that blissful state of consistently having exactly the right amount of work, nor have I met a soloist who has. (I am getting better though, read on to find out more.)

In the early stages of my solo career I became full of self-doubt and anxiety during the lean times, driving myself and my family crazy in the process. I have learned to plan for the lean periods, both financially and by pursuing other activities during these times.

I set aside some of the money I earn during the good times to carry me through the quieter periods. I have learned to market my business, pursue other interests and build additional income streams around them, so that I continue to satisfy my worker bee instincts and my needs for achievement and some semblance of financial stability.

It can be useful too to use the quiet times for your self-development.

What are you best at/worst at in your present job or business? How will/does this affect the running of your business? Are there skills/knowledge gaps you need to address? How will you develop them? Who can help you?

You may not be able to afford hired help in the early stages of developing your business. Are you willing and able to do the mundane administration and other ‘routine and perhaps boring’ tasks that keep your business on an even keel and growing?

I am not crazy about administration, and knew very little about sales and marketing or the tax and financial aspects of running a business when I started out. I have learned to 'just get on' with the administration and I use experts to help me with those lesser known but crucial to success aspects of building and managing a business. For example I pay an accountant to look after my bookkeeping, financial and tax affairs and website design experts to develop and help me promote my website.

Marketing was my biggest weakness. I had never had to market a business before I started my training and coaching consultancy. Jay Conrad Levinson of Guerilla Marketing fame and Ellen Britt of Marketing Qi are two gurus I learned a lot from and would recommend to marketing newbies and experts alike.

Learning how and where to network effectively was another of my key development needs. I got pretty good at this, and now most of my work comes through networking and word of mouth contacts. (Take a look at the book, Magnetic Networking, in the Products area of my website.)

I discovered that marketing was a great deal of fun and that if I did it intelligently it didn't cost a fortune or take up an inordinate amount of time. I experimented with the various ideas and suggestions offered by the gurus and found the tactics and strategies that worked for me and my business.

I didn't always get it right but I quickly learned which activities built my credibility and my business. You can too - just find the gurus and tactics that work for you and then get out there and build your business.

The self employed ocean is terrific, please don't wait too long before you dive in and start having the time of your life!

BEFORE YOU GO SOLO

There are a number questions about you and your business that you should answer before you take that leap into the unknown.

Why do you want to be a self-employed coach? Are you moving away from something or towards a long cherished goal?

Whatever your reasons for wanting to go solo give very careful consideration to how serious you are about it. Is it a way of escaping an unhappy job or something to do between redundancy and finding a ‘real job’. Do you see an independent coaching consultancy as an interim step or a new career?

Do you have enough money or the means of making enough to finance your business and sustain your lifestyle while growing your business?

It’s great if you land a big contract to start your new business but you should begin looking around for the next assignment well before work on the first one is completed. My first deal was a sizeable piece of work that gave me an income while I worked at expanding my client base. Even though the original client continued to ask for more I was concerned about relying on them too much. My concerns were confirmed when their US parent went bust and the UK operation was put into administration. Fortunately I had two other small pieces of work that gave me some income but I had to draw on savings when this lean period extended over almost four months.

Are your significant others supportive of your entrepreneurial ambitions? Will they lend a hand when necessary?

The support of the important people in your lives is crucial when you go solo. You need their encouragement when things go wrong or when you experience self-doubt. You need their help when tasks threaten to overwhelm you. My husband and daughters have typed, stuffed envelopes, put together workbooks, and acted as the telesales team whenever necessary – I would not have achieved half as much as I have without their willing hearts and hands.