Business Matters

A freelancer's guide to business success in any economy

Elizabeth Frick

• Editore: XML Press
• Anno: 2013
• ISBN:
  9781457182662
• Edizione: 1
• Argomento: Computer Science
• Categoria: Computer Science General

When Bette Frick launched her freelance writing and editing business in 1990, not having completed formal business training meant she would make more than a few mistakes. But not applying MBA models meant that as her company grew, her business model fit her rather than some business-school template.

As Bette learned her (sometimes) painful lessons, she shared them in her column, Business Matters, in Intercom, the magazine of the Society for Technical Communication (STC), from 2003 to 2012. Business Matters republishes those articles, substantially revised and arranged thematically, along with several new chapters.

Business Matters

A freelancer’s guide to business success in any economy

Elizabeth Frick

eBook Introduction

Thank you for purchasing Business Matters: A freelancer’s guide to business success in any economy. I hope you enjoy the book and find it useful.

Best Regards,
Elizabeth Frick
November 2013

Preface

I never finished the MBA that I started in 1980. That’s actually good news.

When I launched my freelance business in 1990, not having completed (or remembered) any of my formal business school training meant that I would make more than a few mistakes as I lurched through good times and bad. But not applying MBA models to my business meant that I planned and grew my company, The Text Doctor, LLC, organically; my business model fit me rather than forcing me into a business-school mode.

In the process, I learned that it was not enough to be technically smart and always passionate about my chosen disciplines of training and editing. I discovered that I had to become proficient in business planning, strategy, marketing, finance, and operations so that my business would succeed in any economy. This is probably true for most freelancers who migrate from corporate employment to self-employment. As employees, few of us became involved in strategic thinking and planning for our companies. That was management’s job. Well, as freelance independents, we discover that suddenly we “are management,” usually without any formal training in the tasks involved and often with little or no support.

As I gradually learned my (sometimes) painful lessons, I shared them in my column “Business Matters” in Intercom, the magazine of the Society for Technical Communication (STC), from 2003 to 2012. Business Matters republishes those articles, substantially revised and arranged thematically. In addition, I have added several new chapters.

My goal is to provide freelance independents who are passionate about their discipline with the minimum training they need to direct or redirect their freelance, consulting, or service companies wisely. As you will learn throughout this book, it is not enough to just be technically smart—you will also have to be business-savvy to succeed in any economy.

I’m also writing for potential freelancers. Just last night at a party, I spent a half hour discussing self-employment with a woman I had just met. This happens often when people learn that I have been self-employed since 1990. I am happy to share my experience with them, and actually, that’s why I started writing my column. As you read, please check the Resource List frequently, as I will update it often to provide you with useful links.

1. Acknowledgments

I’d like to start by thanking Richard Hamilton of XML Press for his boundless patience; this is my first book and also my first experience with XML, and I know I had to be told what to do more than once.

I am grateful to Betsy Frick (the other Elizabeth Frick) for passing on to me the opportunity to take over her STC Intercom column for independent freelancers in 2003. Without this act of generosity, these chapters would never have been born. I am also grateful to my STC editors, Cate Nielan, Maurice Martin, and Liz Pohland for their gentle editorial guidance.

You’ll notice many “quotations from the trenches”—useful suggestions from fellow STC members who responded to my requests for their personal experiences. Their sage advice rounded out my experiences as a freelancer (their names appear here in alphabetical order). Many thanks to Rahel Bailie, Rhonda Bracey, Andrea C. Carrero, Tony Chung, Janet S. Clifford, Mary Jo David, Carol Elkins, Alice Jane Emanuel, Paula Foster, Betsy Frick, Linda Gallagher, Beryl Gray, Suzanne Guess, Stacey Hall, Mindy Hoffbauer, Steven Jon, Rich Maggiani, Donna Marino, Kathleen McIlraith, Holly Mullins, Katherine Noftz Nagel, Pat O’Donnell, Sarah O’Keefe, Ginny Redish, Laura Ricci, Monique Semp, Thea Teich, Tammy Van Boening, Angela Wiens, Liz Willis, and Lyn Worthen.

I would also like to thank Jill Konrath for her quote about value propositions and specific measurable results and Stackpole Books of Harrisburg, Pennsylvania for allowing me to quote so freely from Bradford Angier’s Looking for Gold: The Modern Prospectors Handbook[Angier, 1980].

Part I. Introduction

Chapter 1. Could You, Should You, Go Independent?

Wouldn’t it be nice if there were a test that you could take that would identify whether you are suited to start an independent business and succeed? I don’t believe there is such a test available, and I’m not sure that I would trust it anyway. Succeeding as an independent requires many intricate decisions driven by interactive personality traits—and only you can determine if you have those traits and if you really want to succeed as an independent. This chapter may help you start your dialogue with yourself about going independent.

Every freelancer has a different story about how they launched their own business. I stumbled into freelancing after two different layoffs as a project manager developing educational software in the recession that began in 1990. In the midst of that recession, I was not thrilled about finding another job and facing more of the same—the hassle of daily commuting, difficult bosses, office politics, and layoff risks. So, with a little severance pay in hand, I printed business cards and went solo.

1.1. Good news, bad news about freelancing

If I had interviewed experienced freelancers before my plunge, they would have told me that there is good news and bad news in both employment and freelancing. You probably know about the benefits of employment: Steady pay, camaraderie with fellow employees, benefits packages, a desk, a computer, and software. You probably know the bad news as well, whether it is a difficult work group, a maniacal boss with unrealistic expectations, work that you don’t really like, or the nagging feeling that you don’t have any job security.

It is all so appealing, the freelance life: flexibility of schedule, clients who respect you, a fair amount of autonomy and control over the work, better pay per hour, diversification to balance the risk, a home office with a window, and the CEO title after your name! What could possibly go wrong? (Think: paying 15.3% FICA, your own health insurance, and the costs of your own office, all in the face of potential extended time without paid work. And then, after a long dry spell, you get five projects to work on at once! And some of these you accept not because you want to, but because you must so that you can feed yourself, your family, and that lovely cat that graces your office.)

And yet, many of my fellow independents have chosen self-employment for much or most of their careers. Some want the flexibility to raise their families outside corporate time-frames; some chose freelancing because they may not fit into a specific job title or job description in most organizations. Still others prefer to work early or late hours that don’t mesh with corporate work schedules. And there’s always the introvert who can easily interface with one client at a time but does not thrive in a group.

1.2. Why I believe that I have survived as a freelancer since 1990

I think I fit into almost all of the categories in the prior paragraph. As a medical editor and corporate trainer who specializes in teaching technical writing, I found that most companies, even large ones, need me only as a vendor, not as an employee. I relished the flexibility to volunteer in my kids’ classrooms or stay home with a sick child and start work at 4 am to make up my time. (I still cherish that flexibility as I volunteer in my grandchildren’s classrooms and play with them on their days off from school.) And although I am extroverted in my own classroom, I am intensely introverted when I work. A therapist once told me, “You have a great need for autonomy”; perhaps that’s why I thrive when given a task, specifications, and a few directions and can go off to sit in my sunlit office and bang out the work. (For more about introversion, read Susan Cain’s Quiet[Cain, 2013].)

If you have the luxury of continuing in your job while you assess your own success traits for freelancing, perhaps the questionnaire later in this chapter will help you think deeply about your future as an independent. I haven’t run these questions through any kind of rigorous testing (I wouldn’t even know how to), and I haven’t provided any kind of rating scale for you. Instead, I invite you to journal your answers and perhaps share what you find with your loved ones, a trusted colleague, a therapist, or a business counselor; please also send me e-mail at [email protected] to let me know how well the questions worked.

Or you might just leap, as I did, and experience the exhilaration and terror of surviving as an independent—kind of like riding the roller coaster without having to pay to enter the amusement park!

1.3. Questionnaire: Is the Independent Life for You?

Environmental assessment (do you fit into a corporate or organizational environment?):

1. Do you work best in patterns and time frames that don’t fit into a normal work day?
2. Is the work that you love more of a discipline or passion for you than a job title or job description?
3. Is your chosen work in a field that often gets cut first in corporate downsizing (such as marketing or training)?
4. Do you shun the drama of office politics?

Self-awareness:

1. Do you see freelancing as a commitment, not just an experiment?
2. Did you or do you have a family member who was/is successfully self-employed?
3. Do you naturally think strategically? What are some examples of your strategic thinking that have ended successfully for you?
4. Are you comfortable promoting yourself constantly?
5. Do you have a financial cushion or a source of income that can help you during your start-up phase?
6. Are you emotionally able to withstand p...