Business Management

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How to Become a Freelancer for Big Companies: 12 Tips

By MBO Partners

Becoming a freelancer for big companies comes with many benefits. Higher-value contracts, bigger budgets, and the opportunity to gain credibility with a recognizable name—just to name a few. However, to be attractive to larger organizations, freelancers and independent professionals must first ensure they have a reliable, trustworthy business in place. Follow these 12 tips to…

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3 Back Office Management Tips for Consultants

By MBO Partners

Whether you’re just starting your small business or you’re a seasoned veteran, you’ll quickly learn that there’s a lot of planning involved. Initially, this planning will focus on choosing the services you will offer, finding and securing clients, and deciding where and how you will run your business. These are all important first steps and…

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10 Legal Requirements for Starting a Small Business

By MBO Partners

Make sure your small business operates legally with all of the required licenses and permits.

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10 Ways to Make More Money as a Consultant

By MBO Partners

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…

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What is Scope Creep and 9 Ways to Avoid It

By MBO Partners

Scope creep can occur during a project when a client adds tasks outside of the scope of your agreement. It is important to understand how scope creep occurs and how to avoid it to make sure that both parties agree which tasks are expected to be completed and which are considered outside of scope. What…

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Gross Income vs Net Income: Differences and How to Calculate

By MBO Partners

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…

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How to Make Risky Business Decisions as a Small Business Owner

By MBO Partners

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….

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Independent professional with long-term client

5 Best Practices for Developing Long Term Client Relationships

By MBO Partners

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…

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How to Create a Contingency Plan for Small Business: 4 Steps

By MBO Partners

For many in the business world, a common saying is: “If you fail to plan, then you plan to fail.” This saying rings particularly true for small business owners who often have to carefully balance each aspect of their business—especially in unforeseen situations. Whether you’re sidelined by a family emergency, unavailability of resources, or other…

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Year End Small Business Review Checklist

By MBO Partners

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…

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