Knowing is Half the Battle

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Slides from our Geekend2011 presentation about lessons we learned starting and running a business in the creative services industry.

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Knowing is Half the Battle

  1. 1. Spanish novelist Miguel de Cervantes said, "The man who is prepared has his battle half-fought." GEEKENDFriday, November 11, 2011
  2. 2. KNOWING IS HALF THE BATTLE 2 GEEKENDFriday, November 11, 2011
  3. 3. WHO ARE WE? 3 GEEKENDFriday, November 11, 2011
  4. 4. WHO ARE WE? BillSKenney 3 GEEKENDFriday, November 11, 2011
  5. 5. WHO ARE WE? BillSKenney + ErikReagan 3 GEEKENDFriday, November 11, 2011
  6. 6. WHO ARE WE? BillSKenney + ErikReagan = FocusLabLLC 3 GEEKENDFriday, November 11, 2011
  7. 7. THE AGENDA 4 GEEKENDFriday, November 11, 2011
  8. 8. THE AGENDA • Share key experiences from our business 4 GEEKENDFriday, November 11, 2011
  9. 9. THE AGENDA • Share key experiences from our business • Feel free to interrupt with a related question 4 GEEKENDFriday, November 11, 2011
  10. 10. THE AGENDA • Share key experiences from our business • Feel free to interrupt with a related question • Get the conversation going 4 GEEKENDFriday, November 11, 2011
  11. 11. TAKING THE LEAP 5 GEEKENDFriday, November 11, 2011
  12. 12. Are you ready? 6 GEEKENDFriday, November 11, 2011
  13. 13. TAKING THE LEAP 7 GEEKENDFriday, November 11, 2011
  14. 14. TAKING THE LEAP • Be responsible, crunch the numbers 7 GEEKENDFriday, November 11, 2011
  15. 15. TAKING THE LEAP • Be responsible, crunch the numbers • In the end it’s not the numbers that matter 7 GEEKENDFriday, November 11, 2011
  16. 16. TAKING THE LEAP • Be responsible, crunch the numbers • In the end it’s not the numbers that matter • Trust your gut 7 GEEKENDFriday, November 11, 2011
  17. 17. UNDERSTANDING YOUR VALUE 8 GEEKENDFriday, November 11, 2011
  18. 18. How much am I worth? Should I charge more? 9 GEEKENDFriday, November 11, 2011
  19. 19. WHAT IS MY VALUE? 10 GEEKENDFriday, November 11, 2011
  20. 20. WHAT IS MY VALUE? • Industry range can be confusing 10 GEEKENDFriday, November 11, 2011
  21. 21. WHAT IS MY VALUE? • Industry range can be confusing • Early on you will undercut yourself 10 GEEKENDFriday, November 11, 2011
  22. 22. WHAT IS MY VALUE? • Industry range can be confusing • Early on you will undercut yourself • Don’t just take anything that equals money 10 GEEKENDFriday, November 11, 2011
  23. 23. UNDERSTANDING VALUE 11 GEEKENDFriday, November 11, 2011
  24. 24. UNDERSTANDING VALUE • Utilize tools to help determine your pricing 11 GEEKENDFriday, November 11, 2011
  25. 25. UNDERSTANDING VALUE • Utilize tools to help determine your pricing • What these tools don’t account for: 11 GEEKENDFriday, November 11, 2011
  26. 26. UNDERSTANDING VALUE • Utilize tools to help determine your pricing • What these tools don’t account for: - Years of experience 11 GEEKENDFriday, November 11, 2011
  27. 27. UNDERSTANDING VALUE • Utilize tools to help determine your pricing • What these tools don’t account for: - Years of experience - Wealth of knowledge 11 GEEKENDFriday, November 11, 2011
  28. 28. UNDERSTANDING VALUE • Utilize tools to help determine your pricing • What these tools don’t account for: - Years of experience - Wealth of knowledge - Confidence in your skills 11 GEEKENDFriday, November 11, 2011
  29. 29. UNDERSTANDING VALUE • Utilize tools to help determine your pricing • What these tools don’t account for: - Years of experience - Wealth of knowledge - Confidence in your skills - Demand 11 GEEKENDFriday, November 11, 2011
  30. 30. Picasso was sitting in a Paris café when an admirer approached & asked if he would do a quick sketch on a paper napkin. Picasso politely agreed, swi ly executed the work, and handed back isthe Spanish novelist Miguel de Cervantes said, "The man who napkin — but not before has his for a rather significant amount of asking battle half-fought."  prepared money. The admirer was shocked: “How can you ask for so much? It only took you a minute to draw this!”... 12 GEEKENDFriday, November 11, 2011
  31. 31. Spanish novelist Miguel de Cervantes said, "The man who is “No”, Picasso replied, “It took me 40 years” prepared has his battle half-fought."  13 GEEKENDFriday, November 11, 2011
  32. 32. THINK DIFFERENTLY 14 GEEKENDFriday, November 11, 2011
  33. 33. THINK DIFFERENTLY • Don’t resolve to only charge what someone will pay 14 GEEKENDFriday, November 11, 2011
  34. 34. THINK DIFFERENTLY • Don’t resolve to only charge what someone will pay • Charge according to the value of the service 14 GEEKENDFriday, November 11, 2011
  35. 35. THINK DIFFERENTLY • Don’t resolve to only charge what someone will pay • Charge according to the value of the service • Try not to budge on your position 14 GEEKENDFriday, November 11, 2011
  36. 36. CONTRACTS Get one. 15 GEEKENDFriday, November 11, 2011
  37. 37. IT’S A MUST 16 GEEKENDFriday, November 11, 2011
  38. 38. IT’S A MUST • Defining the roles of both parties 16 GEEKENDFriday, November 11, 2011
  39. 39. IT’S A MUST • Defining the roles of both parties • Protection for both parties 16 GEEKENDFriday, November 11, 2011
  40. 40. IT’S A MUST • Defining the roles of both parties • Protection for both parties • Creating a professional guide to work within 16 GEEKENDFriday, November 11, 2011
  41. 41. IT’S A MUST • Defining the roles of both parties • Protection for both parties • Creating a professional guide to work within • Avoiding scope creep 16 GEEKENDFriday, November 11, 2011
  42. 42. “BUT YOU SAID...” Profit Margin 17 GEEKENDFriday, November 11, 2011
  43. 43. “BUT YOU SAID...” Profit Margin 17 GEEKENDFriday, November 11, 2011
  44. 44. “BUT YOU SAID...” Profit Margin 17 GEEKENDFriday, November 11, 2011
  45. 45. “BUT YOU SAID...” Profit Margin 17 GEEKENDFriday, November 11, 2011
  46. 46. MANAGING EXPECTATIONS & Clear Communication 18 GEEKENDFriday, November 11, 2011
  47. 47. WORDS ARE KEY 19 GEEKENDFriday, November 11, 2011
  48. 48. WORDS ARE KEY • Clear communication is essential 19 GEEKENDFriday, November 11, 2011
  49. 49. WORDS ARE KEY • Clear communication is essential • Over communicate when in doubt 19 GEEKENDFriday, November 11, 2011
  50. 50. WORDS ARE KEY • Clear communication is essential • Over communicate when in doubt • If you say you’ll do it, do it 19 GEEKENDFriday, November 11, 2011
  51. 51. WORDS ARE KEY • Clear communication is essential • Over communicate when in doubt • If you say you’ll do it, do it • Learn from your communication mistakes 19 GEEKENDFriday, November 11, 2011
  52. 52. SAYING “NO” 20 GEEKENDFriday, November 11, 2011
  53. 53. Y 21 GEEKENDFriday, November 11, 2011
  54. 54. DON’T BE A “YES” MAN 22 GEEKENDFriday, November 11, 2011
  55. 55. DON’T BE A “YES” MAN • In the beginning you will say “YES” a lot 22 GEEKENDFriday, November 11, 2011
  56. 56. DON’T BE A “YES” MAN • In the beginning you will say “YES” a lot • A er all - you need to make money, right? 22 GEEKENDFriday, November 11, 2011
  57. 57. DON’T BE A “YES” MAN • In the beginning you will say “YES” a lot • A er all - you need to make money, right? • Not all projects are profitable in the end 22 GEEKENDFriday, November 11, 2011
  58. 58. WHEN TO SAY “NO” 23 GEEKENDFriday, November 11, 2011
  59. 59. WHEN TO SAY “NO” • If the project does not fit your business goals 23 GEEKENDFriday, November 11, 2011
  60. 60. WHEN TO SAY “NO” • If the project does not fit your business goals • If it is not beneficial to revenue / exposure / portfolio 23 GEEKENDFriday, November 11, 2011
  61. 61. WHEN TO SAY “NO” • If the project does not fit your business goals • If it is not beneficial to revenue / exposure / portfolio • Client seems unorganized / unprofessional 23 GEEKENDFriday, November 11, 2011
  62. 62. WHEN TO SAY “NO” • If the project does not fit your business goals • If it is not beneficial to revenue / exposure / portfolio • Client seems unorganized / unprofessional • Goes against your business ethics 23 GEEKENDFriday, November 11, 2011
  63. 63. Be intentional in the projects you accept. It is important to find the right fit for both parties. 24 GEEKENDFriday, November 11, 2011
  64. 64. TIME TO GROW Pace yourself. 25 GEEKENDFriday, November 11, 2011
  65. 65. 26 GEEKENDFriday, November 11, 2011
  66. 66. SLOW & STEADY 27 GEEKENDFriday, November 11, 2011
  67. 67. SLOW & STEADY • Be strategic & methodical 27 GEEKENDFriday, November 11, 2011
  68. 68. SLOW & STEADY • Be strategic & methodical • Growth can damage your key areas: 27 GEEKENDFriday, November 11, 2011
  69. 69. SLOW & STEADY • Be strategic & methodical • Growth can damage your key areas: - Quality of work 27 GEEKENDFriday, November 11, 2011
  70. 70. SLOW & STEADY • Be strategic & methodical • Growth can damage your key areas: - Quality of work - Communication 27 GEEKENDFriday, November 11, 2011
  71. 71. SLOW & STEADY • Be strategic & methodical • Growth can damage your key areas: - Quality of work - Communication - Time management 27 GEEKENDFriday, November 11, 2011
  72. 72. BUILDING YOUR TEAM 28 GEEKENDFriday, November 11, 2011
  73. 73. BUILDING YOUR TEAM • Complementary skills are key 28 GEEKENDFriday, November 11, 2011
  74. 74. BUILDING YOUR TEAM • Complementary skills are key • You do not need another “you” 28 GEEKENDFriday, November 11, 2011
  75. 75. BUILDING YOUR TEAM • Complementary skills are key • You do not need another “you” • Each member has a clear role and value 28 GEEKENDFriday, November 11, 2011
  76. 76. SELF PRESERVATION A er all, you need to live. 29 GEEKENDFriday, November 11, 2011
  77. 77. 30 GEEKENDFriday, November 11, 2011
  78. 78. TAKE A BREATH 31 GEEKENDFriday, November 11, 2011
  79. 79. TAKE A BREATH • Life is more than your business 31 GEEKENDFriday, November 11, 2011
  80. 80. TAKE A BREATH • Life is more than your business • Keeping your sanity and quality of work 31 GEEKENDFriday, November 11, 2011
  81. 81. TAKE A BREATH • Life is more than your business • Keeping your sanity and quality of work • Recharging your batteries 31 GEEKENDFriday, November 11, 2011
  82. 82. TAKE A BREATH • Life is more than your business • Keeping your sanity and quality of work • Recharging your batteries • Returning with a clear and working brain 31 GEEKENDFriday, November 11, 2011
  83. 83. DEFINE LIMITATIONS 32 GEEKENDFriday, November 11, 2011
  84. 84. DEFINE LIMITATIONS • The office actually has working hours 32 GEEKENDFriday, November 11, 2011
  85. 85. DEFINE LIMITATIONS • The office actually has working hours • Hold yourself and your clients to them 32 GEEKENDFriday, November 11, 2011
  86. 86. DEFINE LIMITATIONS • The office actually has working hours • Hold yourself and your clients to them • Turn around times on work / communication 32 GEEKENDFriday, November 11, 2011
  87. 87. DEFINE LIMITATIONS • The office actually has working hours • Hold yourself and your clients to them • Turn around times on work / communication • Creating a working contract 32 GEEKENDFriday, November 11, 2011
  88. 88. THE RUNDOWN 33 GEEKENDFriday, November 11, 2011
  89. 89. THE RUNDOWN • Trust in yourself to make the correct decisions 33 GEEKENDFriday, November 11, 2011
  90. 90. THE RUNDOWN • Trust in yourself to make the correct decisions • Understanding and growing your value 33 GEEKENDFriday, November 11, 2011
  91. 91. THE RUNDOWN • Trust in yourself to make the correct decisions • Understanding and growing your value • Protecting interests with a solid contract 33 GEEKENDFriday, November 11, 2011
  92. 92. THE RUNDOWN • Trust in yourself to make the correct decisions • Understanding and growing your value • Protecting interests with a solid contract • Maintain clear communication 33 GEEKENDFriday, November 11, 2011
  93. 93. THE RUNDOWN 34 GEEKENDFriday, November 11, 2011
  94. 94. THE RUNDOWN • Learn to say “no” 34 GEEKENDFriday, November 11, 2011
  95. 95. THE RUNDOWN • Learn to say “no” • Grow at a manageable pace 34 GEEKENDFriday, November 11, 2011
  96. 96. THE RUNDOWN • Learn to say “no” • Grow at a manageable pace • Build a powerful & complementary team 34 GEEKENDFriday, November 11, 2011
  97. 97. THE RUNDOWN • Learn to say “no” • Grow at a manageable pace • Build a powerful & complementary team • Maintain a balance between life and work 34 GEEKENDFriday, November 11, 2011
  98. 98. ADDED THOUGHTS • Immerse yourself in relevant communities • Share work & experiences with others • Learn from the experiences of others 35 GEEKENDFriday, November 11, 2011
  99. 99. We never stop learning 36 GEEKENDFriday, November 11, 2011
  100. 100. GO FORTH & conquer! and follow us on twitter ErikReagan BillSKenney 37 GEEKENDFriday, November 11, 2011

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