Business Management

How to Start a High-Revenue One Person Business

By MBO Partners

Starting your own business is an exciting prospect; you have the chance to bring your ideas to life, be your own boss, and make more money. But what skills do you need to get started and what’s the secret to building a thriving company? In her webinar, The Million-Dollar, One-Person Business, Elaine Pofeldt outlined pathways…

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Project Collaboration: How to Build a Team of Consultants

By MBO Partners

One of the biggest draws of independent work is the ability to work for yourself. No longer do you have to answer to corporate management or wait for information from coworkers. However, there are definite perks to working alongside other people: new perspectives, additional resources, added manpower, and a wider breadth of knowledge. Teaming up…

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Bill Rate vs Pay Rate: What’s the Difference?

By MBO Partners

Bill rate and pay rate are easy terms to confuse—they both factor into the decision of how much you should charge for your services as an independent contractor. When negotiating with a client at the start of a project, make sure you are clear on your rates, and if you are discussing dollars in terms of…

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Year End 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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6 Project Management Tips for Independent Contractors

By MBO Partners

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…

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3 Difficult Subjects You May Need to Discuss with Clients

By MBO Partners

The key to a successful independent contractor-client relationship is communication. Both parties need to be able to freely discuss thoughts, ideas, needs, and changes related to the project at hand. However, some topics can be difficult or uncomfortable to bring up. Here is our advice on how to address three touchy subjects with clients. 1. Money Money…

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4 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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Create a Home Office with These 10 Tips

By MBO Partners

Successful independent professionals are passionate and dedicated to their work, which often means spending long hours in the office. Luckily, unlike a cubicle, a home office is yours to customize, so those long hours can be spent in a work environment that is tailored to your needs. With a few simple tips, you can create a home…

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Going Global: 6 Factors to Consider

By MBO Partners

For independent professionals, building an international clientele is a great way to expand your business and broaden your expertise. However, there are several basic things to consider before beginning work with an international client that will help prevent minor glitches from turning into major problems. 1. Time Zones Working across time zones can pose challenges when trying…

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Top 5 Contract Mistakes to Avoid

By MBO Partners

Contracts are an important part of starting a new project. They provide legal protection, detail services to be performed, and include payment terms and conditions. If you’re new to the process, you may find that drafting a contract is a fairly complicated task, requiring specific key terms, provisions, legal obligations, and ultimately, client agreement. As a…

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