The biggest trap to avoid when starting your own business
For mid-career, white-collar professionals, going independent is not as hard as you think.
Growing a business is just about getting hired lots of times by lots of people.
And rather than being paid as a full-time employee, getting paid as a contractor.
Voilà! You’re in business.
In the beginning it’s about learning how to sell yourself and your resume. That’s it!
This approach will work for years.
And it will allow you to create consistent revenue ($200-500k annually).
You can network your way into a handful of opportunities each year.
The key is that you need a simple focus.
Meet with people + Tell them what you do.
This is truly the formula for growing an independent, service-based business.
“Meet with people” means you’ll spend at least 5 hours a week catching up with people or making new connections.
“Tell them what you do” means you’ll practice explaining what you do lots and lots of times.
You’ll master it. You’ll learn through trial and error what resonates and what opens doors.
Keep the formula simple.
Do not divert your attention away from meeting people and telling them what you do.
Follow the trail as opportunities present themselves.
Apply to contract roles online.
Talk to small boutique agencies that do similar work to see if they need a subcontractor.
Use relationships and conversations to find opportunities.
And whatever you do, avoid this common mistake:
Niching down too early.
90% of people will offer you conventional advice – to niche down right away.
They’ll tell you to go out and interview a bunch of people, figure out their pain points, and then craft a niche and message based on what you heard.
They’ll tell you to research the market.
They’ll say you need a website that clearly articulates your niche and how you address you clients’ pain points.
The might even tell you to start building your email list and to do a bunch of complicated marketing.
These are all fine things to do AFTER you’re consistently bringing in $250,000 in annual revenue.
Focusing on your niche, website, and marketing too soon is a great way to deceive yourself into believing that you have a business you’re running.
It’s often a great distraction too.
Let’s face it, it’s more comfortable to sit behind your computer screen planning and editing than it is going out into the world selling yourself and your business.
Do you want to go independent, then prioritize getting hired immediately using your existing network.
This is the philosophy I teach my clients when they venture out on their own.
And it works!
Sandra landed her first $100,000 contract within a few months of going independent.
Paul quit his job a few weeks ago and has 2 big opportunities on the horizon.
Alice created her business 2 months ago. She hasn’t publicized it yet, and she’s already landed her first $20,000 gig. She hasn’t even posted on LinkedIn that she’s open for business.
Meanwhile, I sit in sample sessions all week long listening to people talk about how hard it is to grow their business online.
Get offline!
Get into conversations.
Skip the analysis paralysis and hiding.
Your dream business will get built 1 conversation at a time.
And if you want one of those conversations to be with me, reply to this message. I’m happy to set up time.
Thanks For Reading!
I am on a mission to help driven people find clarity in the fast lane – making great money doing work they love, on their own terms.
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