The last time you heard from me, I had just launched my business (Velocity Digital) and was bursting with excitement at being able to show the world what I do. That was about 6 weeks ago and my introduction to the business world has been incredibly interesting so far!
Putting yourself out there
My business is knowledge based – people pay me for my knowledge, experience and advice. By starting my consultancy, I’ve told the world that I believe I can make a big difference to the fortunes of their business. That fact means that I have been treated in a much different manner to what I have been used to. When I worked for agencies in the past, I was a representative of that agency, the client (or prospective client) was assessing not only me, but the whole package. Now, everything falls on me, and I’ve immediately noticed a positive change in the way people interact and deal with me. They are much more open to criticism, doing things differently and taking a step back from being so entrenched in their business and looking at it from a fresh perspective. I’d like to think that is because as things stand, its only me and they are only putting their faith in me, not a wider team or organisation. Putting myself out there like this has been a real test of my knowledge and the way I deal with people and so far, I think I’m doing pretty well (even if I do say so myself).
Winning work Vs lowering fees
As I spoke about in week two, I spent a long time working out my pricing for my consultation time and also some ‘off the shelf’ products. I produced a list for my own use and it has been invaluable so far. I have been flexible in my pricing, this has been fruitful in many ways, but I have always ensured that I stick to a minimum. I feel my services are worth a certain amount and to go below that makes a mockery of that. I’ve also not won work due to what people have seen as high prices. That is fine and will happen forever I am sure! I want to ensure that I am not lowering prices to unsustainable levels just to win work – this does not benefit my business and in the long-run, it actually doesn’t benefit the client in the long-run.
I’ve got 99 problems but accounting ain’t one
I’d like to give a hat-tip to a couple of tools I’ve been using to help me run things smoothly…
The first is Free Agent – this online accounting software is so easy to use and is highly intuitive. From invoicing to expenses, I’ve found it a major help.
Next is Toggl – this is a simple web and mobile based app that let’s you measure the time you are spending on project work. So easy to use and the reports are easy to digest.