MBO Blog

Innovation is requisite for successful competition. But even as enterprises recognize the need to innovate to stay relevant in continuously evolving markets, their intellectual capital is in danger of draining away due to factors like these:  Layoffs. Over 3,150 US companies announced layoffs in 2022. As of the first quarter of 2023, over 972 firms…

As an independent professional, clients are the backbone of your business. When you start working with a new client, it’s important to take steps to build a lasting relationship. When a client trusts your judgment and believes in your work, doors can open for future projects—or referrals to other potential clients. Establishing this type of…

Not long ago, the term “freelance executive,” if heard of at all, was an oxymoron. While there have been interim and fractional CXOs in the marketplace for a long time, this talent takes temporary full-time or part-time roles to fill or backfill openings at the C-suite table. But the idea of a freelance executive? It’s…

This is the second in a five-part series discussing skills critical for future success.  Succeeding articles will cover creativity, communication, and entrepreneurship. A recalibration is taking place in the workforce as leaders are moving to skills-based organizations and artificial intelligence (AI) is slowly taking on some roles, either completely or as an adjunct to human…

Spring is here, and the urge to travel is upon many independent professionals. Joining the digital nomad population, even temporarily, can be exciting and adventurous. It can also be a challenge to make sure that you effectively deliver results to clients as you go. In addition to the tools and gadgets that help tourists travel…

Pay equity, the practice of compensating workers in similar roles with comparable pay regardless of demographic factors, is a legal requirement in most states for full-time employees. The Great Resignation has led to a worker-driven market, and a strong commitment to pay equity across your total workforce is a competitive factor in today’s market. How…

Our research has revealed that enterprises engage highly compensated and in-demand skill sets for their contingent labor programs to address talent shortages and the inability to find full-time employees qualified for the roles being filled. Though financial considerations are a part of the reasons for engaging contingent labor, these five rated higher than cost in…

Achieving the business benefits of an effective direct sourcing program requires some adjustments within the enterprise in terms of how it relates to independent professionals. As this portion of the workforce continues to grow, its members—independent business owners as well as independent talent—are interested in more than pay rates. They want to grow their businesses,…

When starting your own business, there are many factors to consider. It’s important to make sure you are ready both emotionally, professionally, and financially. You’re probably putting a lot of effort into finding clients and getting those first projects up and running. Something that’s easy to overlook in these early months is compliance. Compliance can…

Generation Z is a hot topic among employers today. With its oldest members currently representing 15% of the workforce and the youngest just entering their tweens, the first digital-native generation is set to make big waves in business in the coming decades. Companies seeking the skills that Gen Z brings to the table are finding…

More and more, workers are leaving corporate America by choice. Rather than becoming independent due to job layoffs or other events, they choose independence for their lifestyles and life goals. It’s an intentional choice, and the number of people making it is accelerating. Company leaders across all business sectors are recognizing the need to shift…

The US independent worker population numbered 64.6 million in 2022, a 26% increase over 2021, which at 51.1 million showed 34% growth over 2020. Such impressive growth points to fundamental changes in the workforce as more and more enterprises strategically deploy independents to boost business growth and competitive advantage. While this is great news for…

Tax season as an independent contractor comes and goes throughout the year as you file quarterly, but April 15 tends to be the biggest date of the year as it is the deadline for personal income tax. There are many steps you can take in preparation for this deadline to help make sure filing goes…

In the last few years, a health pandemic, supply chain challenges, geopolitical risks, inflation, and social unrest disrupted our economy in ways we had not felt in nearly a century. In a business sense, these disruptions do not drive destruction, they drive innovation. To adapt to this environment, businesses need to adopt a dynamic approach.  …

American workers’ top three life goals are: Spending enough time with their family Leading a fulfilling life Getting the most out of life. More U.S. independent workers reported achieving these three goals than the overall U.S. workforce. More independents also reported achieving continued personal growth and helping others. In essence, independent professionals are living their…

While we may not as far as to call it a “war,” there is certainly very strong competition for talent across all industry sectors. Part of the driving force behind the optimized workforce—a blend of full-time and independent talent—is the need to access high-value and trusted skill sets on an ongoing, but not full-time, basis….

Increasing revenue is a common goal for many independent consultants. Having a stable base of monthly income is great but building on that success to truly achieve your financial goals is even better. In February, executive coach Melisa Liberman hosted a webinar where she outlined four steps to double your consulting revenue. Check out the…

As the independent workforce continues to grow, so do the issues of worker compliance and misclassification. It is important for enterprises to remain informed about the latest laws, regulations, and developments surrounding these topics. Each month, we’ll bring you the latest news stories from around the web.  1. Federal Court says Federal Arbitration Act Preempts…

Volatility has become the norm in global markets and economies. In the U.S., the Federal Reserve is addressing inflation for the first time in over 20 years. The pandemic, war, and supply chain issues are some of the other factors keeping things in flux. In the workplace, companies and workers are responding in their own…

With the pace of change increasing across all business sectors and unexpected market events remaining within the realm of possibility, there are times when hiring independent talent—or a team of independents—makes the most sense. These times, in fact, seem to be increasing as enterprises seek the benefit of workforce optimization. Our 2022 Contingent Labor report…

Whether as an ongoing business model or for a specific project, independent professionals are forming teams. Our 2022 State of Independence report notes this growing trend: Over the past year 26% of Full-Time independents said they had teamed up with other independent workers or micro businesses, up from 19% in 2020 In the next year…

Independent professionals have long recognized the benefits of teaming up to help grow their businesses. Our 2022 State of Independence report notes that this trend is strong in today’s workforce: Over the past year: 26% of Full-Time independents said they had teamed up with other independent workers or micro businesses, up from 19% in 2020…

The benefits of a direct sourcing program to engage independent professionals can be compelling for an enterprise. Among the pluses, the ability to engage contractors without going through a third party can save costs and improve talent quality. Maintenance of a talent network of independent professionals can improve the re-engagement of high-value talent and minimize…

There are endless benefits to working as a self-employed professional: freedom, flexibility, control over your work, the ability to pursue your passion, and the ability work from anywhere in the world, just to name a few. In 2022, 64.6 million people worked as independent professionals in the US, and that number is only expected to rise…

Business books can be a great source of inspiration or much-needed guidance. Whether you’re just starting your independent career or you’re an experienced consultant, there is always something to learn. As you progress through this year, keep a book on hand for when you need to take a break, or tune into a podcast on…

This is the first of a five-part series of articles discussing skills critical for future success.  Succeeding articles will cover specific soft skill areas. The workplace landscape has been in flux for some time as technologies and societal shifts have influenced how companies think of work and the people who get it done. For example,…

Have you ever dreamed of working from an exotic location in another country? Perhaps a sunny beach in Bali, the colorful streets of Portugal, or the skyscraping-city of Dubai. For many, this dream is a reality. From 2019 to 2022, the American workforce has seen a 131% increase in digital nomad growth. Digital Nomad Defined…

As an independent professional, it can be easy to get caught up in the cycle of finding a client, completing a project, getting paid, and then repeating the process. While constantly being on the lookout for new projects and new clients comes with the territory of being an independent, if you find yourself starting from…

As more and more companies move toward a blended or optimized workforce—a combination of full-time employees and contractors—the need to attract and continue to engage high-value independent talent has become strategically significant.  When an enterprise finds excellence in the workforce, whether in an employee or a contractor, it wants to retain it. How can an…

While it’s been something of an open secret among independents that their work-style choice fosters the achievement of life goals, there is now empirical evidence that supports this. The events of the past few years have prompted many people to reexamine work in relation to other areas of their lives. As a result, the quest…

Figuring out your billing rate can greatly impact the ability to build your business. Ideally, you will arrive at an amount at the intersection of the income you need, the market value of your services, and the value you provide a client. Once you calculate your billing rate, you need to decide how to bill—that…

As the independent workforce continues to grow, so do the issues of worker compliance and misclassification. It is important for enterprises to remain informed about the latest laws, regulations, and developments surrounding these topics. Each month, we’ll bring you the latest news stories from around the web.  1. FTC Proposes Rule Banning Non-Compete Agreements In…

Innovation is a critical part of any firm’s strategy. From continuous improvement initiatives to go-to-market tactics to rebranding and beyond, a company must evolve in the right direction to compete successfully. Achieving sustained innovation has been a leadership quest for many years, with mixed results. As the traditional system of secrecy and locked doors that…

When you have received proposals from independent professionals in response to your project post, reviewing and assessing candidates is the next step toward engaging the best fit for your needs. Do this as a five-step process: Review the proposals Create the first shortlist Review the shortlisted candidates’ resumes Create the final shortlist Interview shortlisted candidates…

What is scope creep? Scope creep occurs when a client adds new provisions, tasks, or deliverables to a project that are outside of an existing scope of work. These unforeseen changes can lead to missed deadlines, financial losses, increased timelines and budgets, and client dissatisfaction. When deliverables are not clearly defined, stakeholders are not involved…

One of the biggest perks of running your own business is that you have full control—the clients you work with, the projects you take on, and how you structure your day is all up to you. By positioning your business around your strengths and skills, you can provide clients with reliable, trusted expertise. But that…

The independent professionals are highly skilled experts who can fill project roles on-demand. These individuals tend to work on medium-to long-term projects in a specific field of expertise.   By understanding the behaviors and values of independents, enterprises become more attractive to top talent and are better able to retain the workers they want for…

Despite dire recession warnings from economists, the US market currently has more job openings than labor to fill them. This doesn’t mean firms aren’t laying off talent, doing more with less, or considering scaling back on hiring. At this time, when the economy’s direction is up in the air and uncertainty prevails in the market,…

While the best approach to recruiting talent in today’s market is to hire skills rather than a particular work classification, how you attract independent talent with the skills you need differs from how you recruit employees. Because these two ways of working vary widely, your approach to job posting must change when seeking an independent…

Worker classification is an important part of managing a blended workforce composed of full-time and independent contractor talent. Misclassifying workers can be a legal headache and an expensive problem, so following proper laws, policies, and regulations is a must.  And while worker classification may sound scary and complicated, it doesn’t have to be. Today, there…

Improve independent contractor program adoption, increase talent retention rates, and mitigate misclassification risk with these three best practices for independent contractor engagement.

This guide covers best practices for a company and its managers to set up their independent talent for success in 2023. These practices are part of building an optimized workforce. It also includes self-assessments that help determine what’s working and where improvement is needed.

When you run your own business, finding new clients is an often less-than-exciting part of the job. Patience and self-promotion are important parts of the process, and each can come with a lot of frustration before you get to that coveted contract. In the past, most independent contractors found new work through word-of-mouth, but in…

The future of work is far from set. New models are nascent as the business landscape changes. Players in some industries (for example, the federal space) have consolidated, while other industries are achieving significant growth through acquisition (e.g., healthcare, technology) and new entrants (e.g., technology). We don’t know yet how these actions will ultimately affect…

Independent contractors are an important part of the talent pool for many enterprises today. MBO’s latest research finds that there are 64.6 million independent workers in 2022, a 26% increase from 2021. Professionals are making the leap from full-time employment to independence for several reasons, ranging from control of their schedule and career to increased flexibility.   …

Gross income is the total amount you earn and net income is your actual business profit after expenses and allowable deductions are taken out. However, because gross income is used to calculate net income, these terms are easy to confuse. When you run your own business, understanding the difference between gross income and net income…

Direct sourcing improves the ability of firms to find and engage contingent workers with the skills they need by:  Creating a curated talent pool with contingent workers.   Quickly accessing independent professionals with the skills you need.   Re-engaging contingent labor, which increases work quality, decreases time to fill roles, and improves the culture fit with the…

In common with employee talent, artificial intelligence (AI) can significantly impact independent talent—from sourcing contractors through engagement and onboarding. AI tools can effectively source prospective independent professionals, assess them without bias, and onboard them efficiently. With more and more companies drawing on contingent labor to build optimized or blended workforces, such tools can be beneficial…

Companies considering the viability of establishing or expanding a contingent labor workforce program may find excellent support in our 2022 State of Independence report. It marks the second year of forecast-breaking results in the independent professional population, perhaps indicating that the workforce disruption of the pandemic years has left a mark on the way that…

The modern independent workforce runs businesses from anywhere in the world, increasingly works together in teams, and finds new projects using online marketplaces. These workers are finding their place in America’s larger workforce, bringing skilled expertise to fill critical job openings while enjoying the flexibility and lifestyle independent work offers. Enterprises are increasingly recognizing the…

How do you calculate your consulting rate?  It’s a question most W2 employees ask themselves when they want to become a consultant. How can you maximize today and prepare for a profitable consulting business? 1. Evaluate Your Bill Rate When’s the last time you evaluated your pricing strategy? Have your bill rates remained steady for…

As the independent workforce continues to grow, so do the issues of worker compliance and misclassification. It is important for enterprises to remain informed about the latest laws, regulations, and developments surrounding these topics. 2022 was a fascinating year for independent contractor compliance. Here’s a look at some top stories. 1. U.S. Department of Labor…

In the majority of traditional jobs, managers have the final word when it comes to making important business decisions and there are always coworkers to bounce ideas off of or ask for opinions. Independent professionals, on the other hand, are relatively on their own when it comes to making choices that will affect their business….

Enterprises across the globe are adapting and revising their strategic mindsets. The COVID-19 pandemic caused many companies to re-think how work gets done, and for many this has involved embracing a flexible workforce composed of a mix of fulltime, W-2 employees, and independent contractors. Independent contractors offer quick access to in-demand skills, giving organizations the…

When incorporating independent talent into your workforce, there are many steps involved. Enterprise managers must find the right talent to fit their needs. Those independent contractors must be engaged in a legally compliant manner. It’s important to manage working with independent professionals in a way that helps your business achieve its goals. By understanding this…

Open innovation can help companies solve problems that would otherwise remain left behind by any department. Whether implemented at a large or small company, crowdsourcing can help thrust productivity forward. It is important to use problem-solvers who are naturally curious, confident lifelong learners. After selecting problem solvers, a company can learn from the solutions provided….

For many independent professionals, work can be tinged with uncertainty. The top two challenges reported by respondents to our 2022 State of Independence survey were not enough predictable income and concerns about the sales pipeline, and a big part of operating an independent services business is addressing them. In addition to these challenges, many independents…

As more companies incorporate independent professional talent into their workforces, the issue of worker misclassification has also been thrown into the spotlight. But what is worker misclassification exactly? First, it’s important to understand that independent contractors—freelancers, consultants, self-employed professionals, side-giggers, etc.—represent a fundamentally different type of worker than your typical W-2 employee. ‘Independent contractor’ is…

The end of 2022 is steadily approaching. Soon we will be in January with post-holiday activities revving up across the business world. Planning for the future is an important part of business management, but it’s a task that can often get pushed to the end of the list as an “I’ll do it later” item….

When you’re just starting out your independent career, there’s an initial push to land as many clients as you can to jump start your business. While it is of course important to make sure you can pay the bills, there comes a time when your strategy should shift to finding the clients who are truly…

Owning your own business means taking responsibility for every aspect of running your company. That burden will likely include tasks that are not directly related to your actual expertise but are necessary for continued growth, such as personal branding and marketing. An effective way to market yourself online is to establish yourself as an industry…

Working from home seems like an ideal setup for many employees, including new moms and retirees. However, there are often “work from home” opportunities floating around that end up being fraudulent. You may ultimately waste your time or, worse, your money. We’ve compiled a list of ways to identify work from home scams so you can…

In conducting the research that informs our annual State of Independence report, we noticed a trend in the late 2010s that prompted us to include a new set of questions in our surveys. The focus of these questions is on how and why independent professionals form teams with other independents or microbusinesses. We began reporting…

Independent labor has become mainstream in the American workforce. According to MBO’s 12th Annual State of Independence Report, 2022 was another year of big growth for this market segment as the total population increased to 64.4 million, one-third of which are Full-Time Independents. As more and more companies move toward a blended or optimized workforce—a…

Today, independent work is part of the normal career portfolio and organizations are increasingly looking for ways to incorporate independent professional talent into their overall workforce strategy. Independents have a lot to offer, and with the right engagement program, they can help an organization thrive. Here are four important strategies to keep in mind if…

The holiday season is always busy and taking time to find the perfect little something for your client can be an added stress. Rather than settling for a last-minute gift card or fruit basket, take advantage of our annual holiday gift guide.  We’ve scoured the web and polled our team members to find some of…

Best practices and industry standards for engaging and paying independent contractors.

Worker classification is a topic of increasing importance as the independent workforce continues to grow in number. Workers can be classified as employees or independent contractors. Understanding the difference between these two types of classifications is very important for enterprises.  Independent Contractors vs. Employees Independent contractor is a legal term for workers who are not…

Today’s business leaders are experiencing pressure to improve service, move faster, and find new skills in their workforce. With a need to shift strategies to better meet business goals, enterprises are increasing their dependence on contract, freelance, and gig workers—adopting a flexible workforce that is comprised of both full-time and independent talent. Today, there are…

Conducting an end-of-year review isn’t a practice that just applies to bigger businesses—it’s a process that is valuable to freelancers and independent professionals as well. A business review gives you a chance to look back at what you have achieved, revisit your goals, and consider how to best move forward for the coming year. In…

MBO’s Annual State of Independence in America Report, a yearly pulse check of the independent workforce as a part of the future of work, reveals a vast workforce whose shape and focus are constantly changing. Over 12 years of researching this labor segment, we have seen enabling factors building toward a solid support structure for…

Companies today are settling into new ways of managing their workforce. Many are relying more heavily on contingent workers, a pool of talent that has the flexibility and skillsets needed to fill key functions quickly and efficiently. Independent professionals are a growing group of talent, and their skills are in high demand. In order to…

When pursuing a career as a consultant, it can be helpful to see if have the personality traits that match most successful consultants or if you need to work on developing them. For example, networking, running a business, and managing projects are all important aspects of an independent professional’s daily life—and there are certain personality…

A blended workforce, combining full-time and independent talent, offers strategic opportunities for business growth. Staffing flexibility, the ability to compete for in-demand skills, and improved speed to market are some of the results that can be achieved with a well-integrated contingent labor program. It’s not unusual for a company to start small when integrating independent…

Realize the competitive advantage of making independent talent part of your workforce strategy by creating a program to that brings top talent to your doorstep, compliantly.

If you are an independent contractor, consultant, or solopreneur, the end of the year is a great opportunity to review results, evaluate business assets and expenses, assess relationships, and create a plan to excel in the new year. Use this handy checklist to keep yourself on track. 1. Wrap Up Financial To-Dos If you operate…

As the independent workforce continues to grow, so do the issues of worker compliance and misclassification. It is important for enterprises to remain informed about the latest laws, regulations, and developments surrounding these topics. Each month, we’ll bring you the latest news stories from around the web.   1. Minnesota and the District of Columbia Sue…

Open innovation answers all the leftover problems that companies can’t solve during even the best of times. Economic downturns flash a light on the need for these solutions. Companies are most familiar with attracting employees and contingent workers. However, problem solvers can fit into those gaps left by a traditional workforce. Large corporations are more…

There’s no getting around it—project management is a core competency for any successful solo consultant. In addition to your specialized expertise, the success of client engagements and your business requires effective results and milestone management. If this isn’t a strong skill set of yours, don’t worry. There are many ways to enhance project management capabilities through…

In our social media dominated world of today, anyone with a Twitter account or a blog can call themselves an “expert” on any given subject. And that makes it tough to rise above the noise to reach current and prospective clients with your message. However, by establishing true thought leadership and experienced-based innovative thinking, you…

If you’re considering starting your own business, you probably have done some research and have a checklist of what you need to have in place to start off on the right foot. That list might include a business plan, marketing strategy, financial goals, or a host of other things that are key to building a…

If you’re considering self-employment, there has never been a better time to make the leap to independence. Today, many individuals are pursuing an independent careers and companies are increasingly engaging independent talent. That’s not too surprising as self-employment offers many advantages such as the ability to pursue your passion, control your own schedule, and be…

There are many ways to find consulting jobs, and the secret is just knowing where and how to look for them. When you work as an independent professional, one of the biggest benefits is having the flexibility to follow your passion and choose the type of work you do. However, being smart and efficient in…

The modern workforce can consist of a variety of talent and knowing when to hire an independent contractor vs a temp or a full time employee can impact how quickly work gets done and your bottom line. Businesses are increasingly relying on the independent workforce—the millions of Americans who work as contractors, consultants, freelancers, side-giggers,…

Employee retention is an important part of maintaining a streamlined, productive workforce. Enterprises want to hold on to their top performers—the same strategy should apply to independent contractors as well.  More than ever before, companies are relying on independent talent for the in-demand skills and professionalism they provide. Independent contractors bring on-demand expertise, staffing flexibility,…

Starting and growing your own business can be a winding and difficult road. Achieving sustainable success requires grit, discipline, and stamina to deal with all of the uncertainties that come with the job. That’s why resilience is such a critical skill. When you encounter setbacks or disappointments, it is important to be able to come…

As part of our educational programs on pricing, we bring you part two of a four-part series from Reuben Swartz, who spent over a decade helping companies from Fortune 500 giants to independent consultants improve profits through better pricing. Read part 1: Stop Commodifying Yourself, if you haven’t already. He also created Mimiran, the fun,…

Think of a blog as an opportunity to engage and grow your target audience. A blog for your business is more than something to update with your weekly experiences as an independent professional. Blogging is a great way to showcase your expertise, bring in potential clients, and grow your personal brand. In fact, blogs are…

Building a community around independent talent is an important part of workforce optimization. independent contractors who have in-demand skills tend to be able to pick and choose the clients they work with. That means, in order to attract and engage the very best talent, organizations must place a strong focus on candidate experience when building their…

If your organization is engaging independent contractors for the first time, it may feel like navigating completely new territory. You might have fears about the quality of the final product, what it’ll cost, or the productive use of time and resources—it can be hard to trust someone you’ve never worked with before. However, in light…

Service marketing differs from product marketing in a number of ways. One is the absence, usually, of a tangible sample that a prospect can hold, inspect, or try out. Creating content to promote services is a great way to demonstrate your expertise as well as your personality and work style. Building a content library can…

Philanthropy can be an important part of your brand, even if you’re self employed. Not only is charitable giving a great way to give back to your community and support a good cause, but it can also help to build connections with existing and potential customers, differentiate your business, and gain positive publicity. But as a…

Baby Boomers and GenXers, the two most seasoned generations of independent professionals, comprise nearly half of the talent pool (26% and 23% respectively). Unfortunately, many enterprises don’t effectively tap that talent demographic, often because of myths that persist about “older workers.” In addition to gaining access to a wider range of skills and expertise, creating…

Any business that engages independent talent will take precautions to minimize the risk of worker misclassification, but if you do find yourself with an IRS audit letter what do you do? Because audits can result in large fines, negative press, back-tax payments, and even class-action lawsuits, the prospect of going through one can be scary….

Even with the flexibility of self-employment, taking maternity leave as an independent professional can be a challenge—both financially and logistically. Not only do you need to plan ahead for your projects, bring in extra help if needed, and set boundaries with your clients, but it’s also important to think ahead to childcare options and set realistic goals…

Workforce optimization allows companies to access the talent they need in an agile, cost-efficient way so they can succeed in the future of work.  Finding the talent you need to effectively run your business is no easy feat. As the modern workforce environment increasingly trends towards engaging independent talent, enterprises must adjust the way they…

Leaders today need to be ready to face a range of uncertain possibilities and disruptions. This is especially true for those leading their own companies or working as independent consultants, as each day brings complex and ambiguous challenges for which no easy solution exists. Sound familiar? As an independent consultant, it is essential that you…

If your organization is one of the many building a hybrid workforce composed of fulltime, temporary, and freelance talent, you already know the myriad of benefits independent professionals can provide—staffing flexibility, access to in-demand skills, and reduced employment costs, just to name a few. As you develop your program for finding, engaging, and managing independent…

As an independent professional it’s important to understand key financial terms. There will be a financial component to every part of your job, from the beginning of a project when you are negotiating with a client about your rates and writing a contract, to the end of a project when you are invoicing a client…

Though an increasing number of Millennials and Gen-Z members are going solo, Baby Boomers and Gen-Xers still make up nearly half of the independent workforce,  with 26% and 23% respectively. These professionals are demonstrating the value of their experience and perspectives to the companies that engage them. Seasoned independent professionals of all ages have retired,…