Diary of a new entrepreneur – week two (August 2012)

So week two in my new life as a entreprenuer is coming to an end and it has been another mind blowing 5 days!

What is my proposition?

Setting up a ‘digital marketing and communications consultancy’ is all fair and well, but what does that actually mean and what will I offer? That is the question that I have been overcoming this week and after lots of relecting on what I can do very well and what I perhaps need to develop further in, I have managed to write a solid list of the services that my (name to be revealed soon) consultancy will offer. I found writing a few lines about each service in a way that a leyman could understand really helped define the exact type of work I will be carrying out. So the services are sorted. What’s next? Pricing, that’s what.

Name your price…

Have you ever asked yourself what your skills and experience are worth? A very tough question to answer. I found that in order to attach a price to each service, it was best to strip it right back to basics. How much time will it take me to deliver this work? What will be the actual cost to my business? What represents value to the person who will be paying for the service? Another thing I’ve considered is the need to ensure that what I’m offering is not coming across as being too cheap or overblown. I’ve done all that and now have a clear view of what I feel my brain is worth to people. Prices start at 4p per hour. I jest.

The brand game

Last week I spoke about naming the business. With the name now settled on, I’ve been working with a Japanese designer to get the branding sorted out. Some rather splendid options have been put my way and I am actually in the unusual position of being spolit for choice. Love it!

You’re what?!?

Some peope have been a tad flabbergasted in the past week when I ‘ve told them that I’ve left employment and am setting up shop. They see it as a huge risk. I’ve never been adverse to risk and I think that must be a key aspect of an entreprenuer’s make up. Calculated risks are fine and that’s what I’m taking. The word risk can be positive too…

If fancy checking out my tweets on social media, digital marketing and start-up, you can do so here.

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8 Comments

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8 responses to “Diary of a new entrepreneur – week two (August 2012)

  1. Spark N Launch

    Wow. Good luck with your startup journey!

  2. Brave thin you’re doing. I’ve been there. Base your price on worth. There are consultants who charge 10,000 a project and $250 an hour. That has nothing to do with time and resources. It’s because that’s the value they bring to their clients.

    Good luck!

  3. Pingback: Diary of a new entrepreneur – Week 3 (17.08.12) |

  4. Pingback: Diary of a new entrepreneur – 19.10.2012 | mystartupdiary.com

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