When you understand what has happened - why You can plot a better course.
To identify the most POWERFUL strategies for right now Get clear on what’s going on so you don’t fall into the trap of doing the same things 3 Trends to be aware of: Business Trends Technology Trends Money Trends Let’s Talk about Each one.
In what way?
Mid 1990s - companies shifted to more project-based hiring - the Contingent Work Force Statistic - Company with highest earnings in 2009 were Temp Agencies (Employers Overload) Lesson: Don’t count on a Permanent JOB One employer = one client. And the have ALL the power Don’t put your eggs in one basket Statistic - Mid 1980s: 70% of design jobs were ‘freelance’; By 2000: 98% were freelance.
Average household income in 2009 = $54,453 Average CEO income (CEO salary info includes - bonuses, stock awards, options, pension plans,…) = $9,246,697 Source: Bureau of Labor Statistics Nearly 200 Times more than what the people who do the work earn! They are not looking out for you.
Push advertising no longer works People are blind to traditional marketing more informed, more customized Know what works & how to position YOU You’re not selling services - you’re selling you Lesson: Be authentic, Be the expert, Connect to your tribe. Don’t compete on price!
Technology puts the power of the big companies in your hand The Print Industry In about a decade, more than 800 years of print technology has been replaced Twitter did not exist about two years ago In two years, FaceBook has grown to be bigger than most nations on earth In a 4-year college degree program - what was learned in year one is out-of-date by year three
Gotta love open source! There’s something more going on here: Old business model = Business secrets New business model = Collaborate
Faster, more powerful Portable Easier to use - well, if it’s a Mac
93% of the earth has internet access (Source: Adobe) Do business where the money is - no matter where you live No Scarcity Mentality My Fact: The majority of my clients are in Europe or the east coast Many writers I’ve worked with are in places like China, Ireland, Finland…
It’s a roller coaster ride out of control Old = Park and Pray (job & pray) New = Be flexible, agile, and aware of coming trends Small is the new Big Bigger is not better - Better is better (Dan Pink in Free Agent Nation)
JOBS are going away Government ‘stimulus program’ is only replacing them with low wage crap jobs Lesson: Don’t play that game
People take power - companies lose power | More Choices Today: 82% of laid off start own business STRATEGY | STORY: During the gold rush of 1849, those who made money were not miners. The people who made the millions were the ones who mined the miners. Levi Strauss: sold jeans and tents Crocker Mercantile (later Betty Crocker): Sold biscuit mix Lesson: Mine the Miners
Consumers do not respond to traditional advertising or marketing channels Example: Chris Brogan’s airport experiment Consumers are less interested in fitting in the BOX defined by big business Consumers are researching and getting info from their community (tribes)
Now that you understand what’s going on And why you’re feeling the way you are You can make good strategic moves
Stop playing the old game. In the old reality, people were consumed by “Stay on Track” The train has crashed and the track is gone You need another VEHICLE
Intermission #1 | Kayak metaphor Kayaks are cool They’re fun! They are small and nimble They can take a hit and roll with the punches (PBS documentary on extreme kayaking) They can literally go with the flow They can turn on a dime to explore opportunities or to avoid obstacles They can adjust to risk tolerance | Shoot the rapids or stay in calm waters Kayaks are STRATEGICALLY BUILT THAT WAY 3 Strategies to build your business kayak.
(let’s talk about the first one)
Make the decision to take control Move in one direction at a time Even if you are working for someone else - drive your own ship Financial planner quote: The internet is a great safety net for people who want to be financially secure. Even a part-time internet-based business can help beef up you bottom like… Linda Jones, Global Institute of Visionary Wealth | GlobalInstituteofVisionaryWealth.com
Find your tribe & create relationships Hint: you have more than one Tribe Industry tribes - like AIGA Business Tribes - people that you can team up with: Like IASECP, Biznik… Client & customer tribes: Linked In….
Not just to do your chosen work but also to: Automate administration tasks Collaborate with team members, clients, joint venture partners Communicate Social media, SEO, Back up work & business Plan and mindmap Create and distribute products, services…
DO NOT BE A GENERALIST!!! Do what you do best | Strengths / not weaknesses Stand out from the pack Be an expert Ian’s a good example of a way to specialize: Web design & business packages catered to lawyers Me: Graphic Designer specializing in custom periodicals like annual reports, newsletters and magazines for big businesses. Become the Go-To person in that niche
Know exactly who is your client How much to they make? What exact size is their business? What are they struggling with - provide the solution Are they female, male? How old are they? What are their passions? Peeves? Where do they look for help like you? - Be there - consistently leading Talk DIRECTLY to them.
Ants have a relentless goal The focus on the end goal The go over, around, any obstacle They leverage their community to get to their goal (in a good way - win/win/win)
Spread Your Wings
Grow by Recycling work Example: Take previous projects & create templates. Not the custom designs, but the concepts, procedures. Package & sell to clients who don’t want to pay for custom work
Use Recycled Work to add streams of income from different types of delivery systems Work the quadrants of the Matrix - I’ll tell you where you can learn more about that later. Teach groups of clients Sell templates Affiliate with partners to promote each other’s services/events/or products for a piece of the action $$$
Mountains have many streams & pools Mountain climbers use: Tools Strategy - they look ahead (weather trends, conditions…) Back up plan / safety net Collaboration Guide - get a mentor, join a mastermind group
From right here in river city These are actually all from the current issue of our Magazine: Self-Employed Professionals | Insider Profiles & Business Strategies
Services : Illustration & Design Teach : Digital Illustration Institute Products : Templates, Tutorials Affiliate : Websites, advertising, partnerships
Services : High-end only Teach : Business Coaching Passive : Hosting; AdSense, Affiliates Products : Templates, Shopping cart subscription
Steer by looking at upcoming trends, not by what’s in the rearview mirror. When companies are not buying services - sell teaching, events, workshops OR create products for the do-it-yourselfer Remember: Mine the Miners (83% of laid off are starting businesses)…Be their resource
Let’s do a Business Maker Over for someone here right now You’re their brainstorm group - join in.
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The Rising Tide Lifts All Boats ~ We’re raising the tide IASECP
Success in Self Employment Make it work for you!