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Business Management
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Bill rate and pay rate are easily confused, but they both factor into the decision of how much you should charge for your services as an independent contractor, consultant, freelancer, etc. When negotiating with a client at the start of a consulting project, make sure you are clear on your rates, and if you are…
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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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S Corporation business structure advantages and disadvantages.
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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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Make sure your small business operates legally with all of the required licenses and permits.
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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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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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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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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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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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