How To Scale Your Freelance Business and Maximize Profit

How To Scale Your Freelance Business and Maximize Proﬁt

Who @davidortinau davidortinau.com 15 yrs web, interactive, software development Flash, iPhone, .NET, WP7

Gospel Media Network 1996-1999 Audio Streaming Startup Initial Investment approx. $30,000 Sold 1999 for $450,000

BEMAS Software 2001-2007 Healthcare Software Grew from 2 to 16 employees Acquired by Evolution Beneﬁts in 2010

Simply Profound 2007-Present Freelance Interactive Development Annual revenue growth recently doubled 62% Flash 30% Web 8% iPhone

who I work with • Advertising and Creative • Roster of 14 senior Agencies developers, designers, • Publishing copywriters • Education • Always looking for more! • Fashion • Beer

What are we talking about • Why Scale The Freelance Business • Scaling • Growing

why scale a freelance business

we have ﬁnite • Hours • Rates • Customers

better projects require more • People • Time • Skills

you don’t want to do • W2 • Beneﬁts • FICA • Insurance

you are your own limit • Capacity • Energy • Concurrent Obligations • Capability • You’re a successful technician that is becoming a manager and an entrepreneur. That can be difﬁcult and frustrating. • Law of the Lid: Leadership ability determines effectiveness.

common misconceptions and fears • If you read it in a book or heard it on a podcast, it’s somehow cheating or less valid • If you ask for help, you’re weak and default any opportunity for real success • You need to know what you’re doing • If you have failed in the past, then you don’t have what it takes

don’t disqualify yourself from growth • Past failures do not disqualify you from future success • We’re all faking it, making this up as we go • Improve your business in iterations. • What can you do today to improve? A week, month, quarter?

healthy businesses grow • Naturally, if you do well you will grow • Remove hindrances to growth • The top 3 buttons to push • Efﬁcient systems • Control costs • Increase proﬁts

a business lens

scaling

subcontracting • Beneﬁts • Multiply the hours you can bill in a given period • Best subcontractors are often current or former business owners themselves • Increase the capabilities you offer • Can make you more efﬁcient at delivering - 2 heads are better than 1

subcontracting • Challenges • You’re now a Manager in addition to a Technician • Interviewing, hiring and ﬁring • Positioning with clients must change • Responsible for things outside your direct control • Project management instead of self management

interviewing for capabilities • Talk tech, do they have a proper understanding of fundamentals • Code review • Code test, provide a quick challenge to assess their knowledge and problem solving • Portfolio

interview for talent • Find recurring patterns of thought, feeling, or behavior that match the job • Ask open ended questions • How closely do you think people should be supervised? • What do you enjoy about… • Listen for speciﬁcs: Past behavior is a good predictor of future behavior • "Tell me about a time when you…"

interview for talent • Clues to talent • Rapid learning - ask the candidate what kinds of roles she has been able to learn quickly. • Satisfactions - • Ask him what his greatest personal satisfaction is. Ask him what kinds of situations give him strength. Ask him what he ﬁnds fulﬁlling. • Give credit to top-of-mind responses

qualifying opportunities • Success or Failure often determined here • Qualiﬁers • Availability • Money • Relationship • Subject Matter • Future Story

“See client projects in terms of building your brand identity” Jim Coudal

innerleprechaun

growing

relationships • It’s who you know... • You’re not alone • One conversation will open your eyes • Clients choose people, vendors they LIKE, are COMFORTABLE with, and they feel they can TRUST. • Talent doesn’t guarantee any of that

look outside your market for ideas and inspiration • Start with your clients • Other business owners • Dentist takes up orthodontics • General Contractor on hiring, estimating, and qualifying opportunities

capture value • Are you providing value to your clients that you are not being compensated for • value is “the ultimate determinate of price in any transaction”

increasing profit “profit is nothing more than a lagging indicator of what is in the hearts and minds of your customers” • The purpose of business is to create a customer • Focus on customers, not profit

add to your offerings via acquisition • Know your core value to your clients • Learning a new language or framework is not the only way to expand your services • Build relationships with other freelancers or partners that can • Satisfy a need • Catalyze your learning process

sell the pain • Example Client A • Years of incomplete projects • String of bad freelancers and contractors leaving a ton of technical debt • Continuous stream of government contracts • Where others see a horrible client, can you see an opportunity?

can you change a client? • Identify the pain points. Look at the business lens and determine what blocks are in need of work • Belief is the hardest to change, and near impossible from outside. • If belief is present, and processes or tools are needed, then you have a ﬁghting chance • Trust actions more than words when assessing beliefs • The bigger the pain you alleviate, the bigger the value you provide

learn the yes-no • Clients will ask for things you don’t want to do • Before you answer, seek to understand • Why they want it • What the expect to get from it • Can you answer yes with • A price? • Impact to timeline?

Contact Me @davidortinau davidortinau.com dave@davidortinau.com

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How To Scale Your Freelance Business and Maximize Profit

by David Ortinau on Sep 24, 2010

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