The Everyday Entrepreneur Podcast
#15: How To Build A Successful Freelancing Business in 9 Steps
Episode 15
Episode Summary:
This week’s episode is a solo episode! I’m giving you a peek behind the curtain of the content I teach inside my program, The Consultant Code. Today you’ll learn the 9 steps that I think are most important to take when building a successful freelance or consulting business.
Episode Takeaways:
There is an easier way to start a business than just ‘winging it’.
Make the decision and commit to starting your business.
Your time is too valuable to go in just halfway – go all in!
Learn what you need to learn and take the actions you need to take in order to achieve your goals.
You need to know your ‘why’ for when times get tough
It is best to find why you are doing this when you are in a healthy and enthusiastic state of mind.
Our sphere of control is much bigger as business owners than employees – your dreams are unlimited when you work for yourself.
How big you go with your business and how far you go is entirely up to you.
Write down your 3-4 biggest dreams and put it on your computer or mirror so you look at it every day.
Work on adjusting your mindset first because this will help you build an unshakable foundation to building your business.
You don’t need to be all things to all people.
Defining your offer – What are you good at? Find out by taking the Clifton Strengths Finder test. What do you love to do? Where is there a need for the things you are good at?
Get clear on what you do – Avoid using industry jargon. Name what you do, who you serve, the pain point you are alleviating for somebody and how you do it.
Don’t miss opportunities talking about what it is you do and describing it in a way everyone can understand.
As business owners, we get to choose exactly who we work with.
Decide what personalities and types of people you want to work with.
Get really clear on who you want to serve in your business. Think about age, occupation, where they live, what do they do for fun, what keeps them up at night, kids, family life, what matters to them, what do they value!
Referrals are incredible for your business – they require little or no work and usually come from people who have previously worked with you or know you.
Don’t rely only on referrals – you can find clients online by sharing what you know, starting conversations, engaging and adding value for your audience.
You need to look at your taxes and books from DAY ONE. When you start your business, you should find a tax advisor who understands you, your life and your business so they can help advise you on your business.
Be really picky about who you hire as a tax advisor – read my blog here.
Bench.co – online service for bookkeeping – great way to automate your books.
Never do any work without a contract in place – ask for one or provide one.
Get a lawyer who understand your business to look over any contracts you receive. You want to protect your business.
If you do not detail your services, clients will ask you to do more and you could have a hard time saying no.
Be general on your contract with big corporate clients – allows for change in terms of role and responsibilities.
It is so important to take a step back, pause and celebrate those wins!
Take time at the end of every month to review what went well.
Do something nice for yourself – take time for you and celebrate how far you’ve come.
Celebrate progress over perfection.
Get on the waitlist for my membership – opening early 2021!
Remember…
No matter how big or small the win, make sure you are celebrating those wins and giving yourself credit for all the hard work you have done!
You Don’t Want to Miss…
03:40 – Step 1 – Make the decision and commit.
04:57 – Step 2 – Find your why.
11:32 – Step 3 – Visualise your wildest dreams.
15:55 – Step 4 – Define your offer.
21:42 – Step 5 – Articulate your ideal client.
27:20 – Step 6 – Taxes and books.
30:37 – Step 8 – Legal and contracts.
34:52 – Step 9 – Celebrate!
Chat With Me At…
Website - http://hollyknoll.com/
Instagram – https://www.instagram.com/hollyknoll/
Facebook - https://www.facebook.com/consult.hollyknoll
Email me – holly@hollyknoll.com
Grab your Free Business Action Guide
Holly Knoll:
Welcome to The Everyday Entrepreneur Podcast episode number 15.
Hi, I'm Holly Knoll, host of the Everyday Entrepreneur podcast. If you've always wanted to start a business and don't know where or how to start, you've come to the right place. After leaving an unfulfilling corporate career, I decided it was time to start a business of my own. Today, I'm a business coach and creator of The Consultant Code where I help people start services-based businesses in 60 days or less. So grab your latte because you're about to be inspired, armed with knowledge, and given simple tools to start a business of your own from my interviews with everyday entrepreneurs.
Holly Knoll:
Hey friend, welcome back to The Everyday Entrepreneur Podcast. We are here to talk about nine steps to building a successful freelancing business, AKA how to be a successful freelancer! And I have a special treat for you today because this episode is giving you a sneak peek into exactly what it is that I teach inside my program, The Consultant Code. So today I'm pulling back the curtain and I'm showing you exactly the things that we talk about. Some of the most important things that someone must consider when starting a freelancing business. And I think first and foremost, one of the big mistakes a lot of people make when they start a freelancing business is they come in with this kind of mindset of like, "I'm just going to wing it. I'm just going to figure it out as I go, and it'll all work out."
Holly Knoll:
And while I totally support the it'll all work out mentality because it will if you believe that, and I always believe that that things do work out, there's just a much, much easier way of starting a business that doesn't involve winging it. There is a certain art to the starting of a business that does require probably some winging it. But because there are now tools and resources out there to help you start a freelancing business, AKA, my program, which by the way is not open right now, I open it a couple of times a year. And I'm not trying to sell you anything. But what I am saying is that when there are tools and resources out there for you to consume or for someone to consume who's starting a business, why wing it? Just go straight to the experts who have done this, who have a proven system and follow the steps.
Holly Knoll:
Trust me, it will shorten your learning curve. And it will get you from A to B, from where you are to where you want to be in a much shorter amount of time. So if you want to get from A to B in a shorter amount of time, if you want to shorten your learning curve, and if you want to minimize your mistakes when it comes starting a freelancing business, I invite you to listen on. I'm going to go through nine steps to building a successful freelancing business. So grab your pen and paper, grab a notebook, and let's get going. And if you've been listening to this podcast for a while, you know that I love lists. I strongly believe in being an organized thinker and an organized communicator.
Holly Knoll:
And so most of my content that I share usually involves clear steps and a clear path from getting to A to B. So of course, today is no different, I am providing nine steps on how to build a successful freelancing business. Let's get started. Number one, first and foremost when you start a freelancing business, you really need to make the decision, make the decision and commit to starting this business. The idea of thinking like, "Yeah, I think I'm just going to dabble in this, I'm just going to kind of try to figure it out. I don't know." Your time is too valuable to just go in halfway. I recommend if you're in that, "I don't know, I want to just see how this goes. Let's just figure it out." I would actually advise you to stop and think about it and just pause before you take any further action.
Holly Knoll:
When you start a business, I think it's super important to go all in. And I'm not proposing to quit your job and just go all in, but make the decision and commit to yourself that you are going to start this thing, whatever that thing is. And today, we're talking about business. So number one, first and foremost, make the decision and commit. Be all in, be 100% committed to learning what you need to learn and taking the actions that you need to take in order to reach your goal. Number one first and foremost, make the decision. Number two, get clear on why you're starting this business. So you've committed, you're like, "Yep, Holly, I'm committed. I'm totally in. I'm going to give this my all, I'm going to give this business a fair shot." I'm going to turn around and ask you, why do you want to do this? Why do you want to create this business? Why do you want to step out into your own, take a big leap out of your comfort zone and start something brand new?
Holly Knoll:
And the reason why this is so important is times are going to get tough. And anytime you do something new, whether it's running a marathon or cooking a new recipe. Hey, I've had some tough times cooking some new recipes, let me tell you. Or learning a new language, starting a business. Things are going to get tough and you're going reach a point that you just want to quit and you're like, "What am I doing this for? Why am I doing this? What's the point?" And I would much rather you have that already determined and decided and ready to go when you get to that point of where you want to throw in the towel and you start asking yourself those questions versus trying to figure out what is the point and why you're doing this when you're in a zone of frustration. Because let me tell you, the difference between those answers is going to be different.
Holly Knoll:
I would much rather see you come up with your why and your vision and why you want to make this leap, why you want to take a risk, why you want to take a chance of starting a business when you're in a very healthy state of mind, a very focused state of mind, a very motivated state of mind, and a very hopeful and positive and enthusiastic state of mind. Imagine the feelings and reasons why, and the ideas that you're going to come up with around why you're starting this business when you're in that state of positivity versus when you're frustrated and just want to quit. Really different, eight? So come up with when you're first starting your business, before you really do anything, ask yourself actually after you commit, ask yourself, why? Why do you want to do this?
Holly Knoll:
I'll give you an example. Think about what breaks your heart a little bit. That's always a really strong indicator of why you are starting your business because you want to go in and help fix something or help improve someone's life or situation. And for me, what broke my heart a little bit and a little bit about what my why is is I observed and watched people in corporate America and myself included start to just, I don't know, start to disengage, start to feel deflated, feelings of hopelessness and stuck and not a way out, and dislike of a boss or a company or a culture or coworkers. And I just saw so much decline when people hit mid career status within their career.
Holly Knoll:
And that broke my heart because I thought, well, my life is way too short to live in the state for a long time and be really unhappy in my job. And so what can I do about it? And that was when I decided to start my freelancing business. I was let go from a corporate job. And I thought, what breaks my heart a little bit is going to work every day and feeling like crap, and I want to change this. So that's why I started my freelancing business. Now, why I teach other people how to start their freelancing businesses is because I want to help alleviate wonderful, talented, incredibly smart professionals from this situation. And I want to help people see that there is light on the other side of being stuck and there is other options and choices and opportunities that one can make when it comes to their career, their life, their freedom, and their happiness.
Holly Knoll:
And it breaks my heart a little bit even as a consultant when I am working with clients to see employees that they work with in that state. And so that's my biggest reason why I created this specific business on helping people start freelancing businesses. I also want to give people a roadmap and make it easy and fun and quick to get up and running and be profitable so that my clients can leave their current situation and get on with their lives and get on with being happy. That was kind of a long answer, but that's just an example of my why. And I could keep going and going, and going. In fact, I've written many journal pages about why it is that I do what I do, and I invite you to do the same.
Holly Knoll:
And just free form right. Set your timer for even 10 minutes, free form right, why do I want to start this business? I want to start this business because, and see what comes up. Just let your pen go and see what comes up. You may be surprised, your reason why may be deeper than you think. So your why and having a very strong why is going to keep you going when you want to throw in the towel and when times get tough. And again, think of what your why is when you're in a positive state, when you're in a state of flow, when you're in a state of happiness. And maybe you're outside or you're somewhere beautiful and you're like, "Gosh, I just feel so inspired right now. Why do I want to start this business?" There, that is the perfect time to get really clear and to really commit to why you want to do this.
Holly Knoll:
So come from an inspired state, come from a state of energy and excitement when you think about your why. Number three, visualize your wildest dreams. Now, yes, Holly, are we going to get to the tactical stuff? Do I need an LLC? Do I need a corporation? What do I need to do for taxes? We're going to get to that. But I am building these steps in a very specific order because getting the mindset stuff down first is essential, and it's often the hardest part. The tactical stuff, heck, that's easy, more or less. You just need a little bit of guidance probably, some lessons learned from my part. But this mindset stuff is where the real work is. So visualizing your wildest dreams. This is one of my favorite steps in my program because one of the freedoms I gained from going from an employee to being a consultant was I got to define a new future for myself.
Holly Knoll:
Working for somebody else was always really limited. I knew I could make a limited amount of money within reason. I knew I would have a limited amount of vacation. I knew I would have limited options when it comes to my interests within my career and where I could go. I knew I would meet a finite amount of people. There was just a lot of limitations. Breaking free from that and starting my own business and being a freelancer, being a consultant has allowed me to think big. It's allowed me to imagine what could be possible that I never even thought was within reach when I worked for somebody else. Now, I imagine things like, gosh, sky's the limit about how much money I can make. Yeah, I can be a consultant and a freelancer, but I can also have an online business.
Holly Knoll:
Oh, I could also get paid to speak at events. Oh, I can also, the sky is the limit, that's what I'm trying to say, the sky is the limit. I just named off a couple of things, but your dreams become wildly more unlimited when you start working for yourself because you can see a bigger possibility for yourself. And I want you to see a bigger possibility for yourself because you are now in the driver's seat. And how big you go with your business, how far you go with your business, how much you do in your business is entirely up to you more or less. Our sphere of control is much bigger as business owners than it is working for someone else. So imagine what is your wildest dream? Actually, if you're still working for somebody else, answer this, write down, what are the things you don't think are possible right now working for somebody else? What feels impossible to you?
Holly Knoll:
And then flip this script, and I want you to write the exact opposite sentence next to the sentence that's impossible. And I want you to flip the script and write the exact opposite sentence right next to that about what is possible. So how about, for example, I don't think ... What feels impossible? Having unlimited vacation and actually being able to take it. That feels impossible working for somebody else. Flip the script, working for yourself. Having unlimited vacation and being able to go wherever I want whenever I want without having to get permission. So do that for maybe four or five things that feel impossible to you right now. Flip the script and imagine if you were running your own business or for those of you that do have your own business. This is a great reminder for you to reset a little bit about your dreams and think about what is possible because this ties back to your why.
Holly Knoll:
If you have wild dreams and a big imagination when it comes to your future, your why is going to be so tightly coupled with that big imagination and your big idea of the future of what is possible and what you can do. This also will keep you going when days get tough. And then final invite that I'll give you around this topic, write down three or four of your biggest dreams on a post-it and put it on your computer, look at it every day. And you don't have to be as specific as possible, but don't be so specific that you're limiting yourself too much. But put that maybe even on your bathroom mirror or on your laptop and look at it every day, and just know that you are working towards something bigger. And then have the patience and the openness to see the signs that are helping you lead your own way to that place.
Holly Knoll:
Visualize your wildest dreams, that's point number three. Number four. Now, we're getting a little more into the nitty-gritty. So that stuff is all mindset stuff, and that's, again, the really, really important stuff when it comes to building an unshakeable foundation to building your business. Number four, we're kind of getting into your ... We are, we're not kind of, we are getting into your offer. This is more of the tangible stuff and more of the nitty-gritty, but super essential and really important when starting your business. Define your offer. What is it that you're going to offer your clients? And one of the things that I always caution my students about is you don't want to be all things to all people, and you don't have to do everything that you did in your previous role in your corporate job with your clients. Well, just because you did X in your corporate job and you really didn't like doing it does not mean you have to do that in your consulting or freelancing world.
Holly Knoll:
If you don't want to do it, then don't offer that as part of your services. Think about the things that make you come alive. There's three parts to this defining your offer. One, figure out, what are you good at? I recommend taking the StrengthsFinder test. This test is very eye-opening into your strengths. You get a very detailed report, and you can really hone in on what you're good at. And trust me, it's going to make sense when you read it because you're gonna be like, "Oh yeah, of course I'm good at that." And what I really find helpful from the StrengthsFinder report is there's five strengths that you get, which is called your top five.
Holly Knoll:
After you take that StrengthsFinder test, I want you to really focus in on your top five. So what are those top five strengths of yours? What are you really, really intrinsically good at? And then think about things that you love to do. Fine, you might be good at these abstract strengths like being strategic or intuitive or execution-oriented or relationship-oriented, but how does that translate into a business? So think about what you love to do when it comes to work-related things. Do you like problem solving? Do you like big ideas? Do you like delivering branding and logos? Do you like writing? Do you like seeing results for your clients and implementing technology programs or projects? Do you like defining how things are going to work like being a product manager?
Holly Knoll:
So think about what you love to do, what makes you come alive? Where do you feel really energetic after you get done doing that thing? And use your job as a starting point. What makes you come alive in your job? The third part is, think about where are their pain points out there that no one really seems to be solving? Or where is there a need for your strengths and what you love to do? What are people looking for? Do you love to write, and are you strategic? Copywriting could be a fantastic business to spin up. Do you like to take photos? Are you really, really amazing at taking photos, and are you super relationship-oriented? Starting a business for photographing people's pets. I'm just coming up with whatever is coming off the top of my head, but think about your strengths, what you love to do, whether it's in your career or on the side, a hobby or within your job.
Holly Knoll:
And then think about where there is a need, where do people struggle with certain pain points, and how can your skills, your strengths, and what you love to do help solve those problems? So think about your what. Think about your offer and exactly what you will do. The second part to this is it's important to get really clear on what it is you do. Avoid using industry mumbo-jumbo or jargon when you're explaining what it is that you do it when you're talking to maybe a future client or a friend who might know future clients. But think about how you can break down what exactly you do so that maybe a sophomore in high school could understand. For example, my what is I offer an online program called The Consultant Code where I help incredibly talented professionals start freelancing businesses in 60 days or less so they don't have to do endless Google searching, and so they can start their business with confidence. Something like that.
Holly Knoll:
So name what it is you do, who it is you serve, why you do it, and the results or the pain point that you're alleviating for somebody. And if you use that formula, that's going to help you articulate your what just a little bit more. So being really clear about what your what is is critical to having a successful business because you don't want to miss opportunities talking about what it is you do and describing it in a way that no one understands. That is leaving money on the table and missed opportunities. Practice your “what” with people who maybe aren't familiar with what you do or the type of work you do and see if it makes sense or resonates with them.
Holly Knoll:
And then obviously you can tailor your what statement according to who you're talking to. But as a general rule of thumb, use your what statement in a way that clearly describes what it is you do, who you help, the problem you solve, and how you do it. And that'll get you pretty close down the path of being as clear as possible. Number five, articulate your ideal client. Think about who it is that you want to help. And another word of caution that I always tell my students is you don't want to help everyone and anyone. You want to put up ... Imagine you work in a exclusive nightclub or a restaurant and you have a red velvet rope. And only certain people can get past that rope, and you have a list. You need to be on the list or you need to have certain qualities in order to get past your red velvet rope.
Holly Knoll:
Because as a business owner, we get to choose exactly who we work with. We don't have to take on anyone and everyone who will pay us a buck. That is just cheapening your services, and it's ultimately going to make you resent your business. Because I promise you, you will take on clients that are not a good fit with that mindset. So think about exactly who you want to serve, what types of people make you come alive, what types of people do you love working with most in your corporate job? And what are those personalities and types of people that you want to continue working with as a business owner? Think about those conversations that you have that are super high vibe, that are super productive, where you're on the same page and you're collaborating and you've got energy, and you feel like you can do anything.
Holly Knoll:
Imagine if you can do that every day as a business owner. And the way that you can ensure that you do that every day as a business owner is getting super clear on who it is you want to serve in your business. If you don't know who you serve, you are not going to know who is a bad fit for you. And then you will take on clients that are a bad fit, and you'll have to learn the hard way. I want you to avoid learning the hard way. And there's a few prompts that you can use. Again, this is a great journaling exercise. And think about gender, what is their gender? What is their age? What is their occupation? Where do they live? What do they do for fun? What keeps them up at night? That's a really good one because that can help lead you to identifying how you can solve their pain points with your service or offer.
Holly Knoll:
Let's see, do they have kids? What is their family life like? Where are they from? What matters to them? What do they value? What don't they value? And the more specific you can get, the more it's going to inform you on my next point, which is attracting and finding your dream client. So it's one thing to know exactly who you want to work with, that's great. And it's another thing to also know exactly what you're offering. But there's a third leg to the stool, which is actually attracting and finding those dream clients of yours. So where the heck are they, and how do you find them? Well, first and foremost, there's the obvious ones, referrals. Referrals are incredible because they require little to no work on your part. They're probably from previous relationships you've had or existing relationships that you've had professionally or friends of friends or people that know you that can refer you out.
Holly Knoll:
To me, if you can survive and build a business based on referrals alone, that's golden. That is to meet the most ideal state possible. But there comes a point often when you've been at it a while where maybe referrals have kind of dried up, people are moving on to different types of work. You've moved on to maybe doing different types of work and maybe referrals just aren't the top way you get clients anymore for whatever reason. I don't want you to feel so isolated that you rely only on referrals. So how else can you attract and find your clients? You can find them through, well, especially now when we're in a pandemic and everyone is locked in their homes and on their screens online.
Holly Knoll:
So think about where your ideal client is hanging out online. Where is she at? Is she on LinkedIn? What state of mind is she on when she's on LinkedIn? Is she on Facebook? Is she on Instagram? Is she attending virtual events and seminars? What Facebook groups is she participating in? And these are all different online ideas that you can take advantage of in order to capture the attention of your ideal client. And no, I'm not a proponent of going into these online forums and posting links or selling yourself outright. But these are online forums in which you can start building relationship, you can start listening and understanding what people who are similar to your ideal client are talking about, what are their pain points and frustrations, and where do they need help? This will better inform you about what else you can offer as a business owner as well, actually perhaps even engaging with them authentically. And perhaps they could turn into a future client.
Holly Knoll:
I could go really, really deep on this one, this is probably a separate podcast about how to find and attract clients. I've taught this as a workshop before. But let me just say that do not underestimate the power of consistency here. Consistency is key when you are doing outreach and trying to put yourself in front of new clients that may not know you. So consistency is key, having a plan and working it, liking, commenting, starting discussions online, sharing what you know not in an annoying way, but in a helpful way. These are all ways to start conversations and establish yourself as an expert and in front of ideal or potential clients. Makes sense? I hope so.
Holly Knoll:
Number seven, taxes and books. All right, now we're getting even more tactical. So taxes and books, this is also something you need to do day one. I would not recommend delaying this piece at all because you don't want to go humming along in your business, and it comes time to do taxes and you have no books and you have no tax advisor. That would be a really sucky place to be because when it comes time to do taxes, these guys are already booked up and likely the good guys and gals are not taking on new clients. So when you start your business, it is imperative that you log in a tax advisor. So somebody that can do the compliance work, which is actually completing the forms and submitting your taxes for you. And somebody who you can sit down with and talk strategy. You want a tax advisor that understands you, your life, and your business so that they can help advise and steer you in the right way that aligns with your goals financially.
Holly Knoll:
So find a tax advisor that both does the compliance work, but also has an advising and a strategic arm so that they can properly guide you toward where you want to go. I've made the mistake of hiring the wrong tax advisor many, many years ago. And she ended up making some really costly mistakes and steered me in the completely wrong direction. That was a hard lesson learned. So be really picky about who you hire as a tax advisor and get referrals from friends, do your research. I've got a blog post on hollyknoll.com/blog about how to find a tax advisor that's right for you. There's some very specific questions in there that you can use when you interview a tax advisor. And trust me, you're going to want to interview them and make sure that they explain these complicated tax concepts to you in a way that you can understand so that you're not blindly trusting them with your money and your taxes.
Holly Knoll:
Bookkeeper, same thing. Bookkeeping's a little bit more transactional in that it's profit and loss statements, it's cashflow in and out. And I found a lovely program called Bench, it's bench.co. And it really tracks all of my books for me, it's an online service. I do have a personal bookkeeper, her name is Nikki. And the only time we really communicate is over IM or direct message via their software, via their website. And every month like clockwork, my books are done. And I can just go in and look at the reports and see where I'm at. And occasionally, she'll have questions for me from time to time, but it's literally clockwork. And it's predictable there, it's accurate. I really couldn't recommend Bench enough. And it's a breeze to hand off my books to my accountant when it comes time for taxes.
Holly Knoll:
My accountant has full access to my Bench account so they can go in there and look any time. And again, seamless. Using Bench is a great way to automate your books, so I highly recommend it, highly, highly, highly. The next one, number eight is legal and contracts. So legal and contracts is a big one as well. First and foremost, never do any work without a contract in place, never ever, ever. Why? Because a contract is a legal agreement that aligns everybody to the same page of what the work is that's going to be performed. I am not an advocate for, yeah, let's just do this work, and then I'll send you a bill. No, no, no, no. Either ask for a contract or supply the contract yourself. In different situation, it makes sense to be the supplier of a contract or be the receiver of someone else's contract that you get to redline and change.
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Holly Knoll:
When I work with my corporate clients as a freelancer, I always ask for their paper first, their contract first so that I can look at it and redline it. I send it off to my lawyer. He looks at it, he redlines it. Usually if it's a good contract, there's very little updates. But I've had some pretty poor contracts as well that have required a lot of back and forth. The back and forth has been worth it because my interests have been protected. Whereas if I would have just blindly signed the contract, my interest would not have been protected. So make sure when you receive somebody else's contract, have a lawyer that you trust, and again, a lawyer that understands your business. Have them look it over, redline it, and propose any changes that would protect you and your interests.
Holly Knoll:
If the client is refusing to budge or be flexible with you on adding what it is that you need into the contract, really, really rethink your relationship with that potential client. And be prepared to walk away because ultimately you don't want to catch yourself in a legal bind because of, oh, it wasn't in the contract kind of thing. So make sure your contracts detail out exactly what you need in order to keep yourself protected. And a good lawyer can help you with that. Another thing with a contract regardless if you're using your own contract or somebody else's contract, when you're working with one-on-one clients, I recommend that the scope be super, super detailed because your client is expecting you to deliver A, B, C, D, E, F, G things.
Holly Knoll:
The risk you run is if you are not detailed, they're going to ask you to do more. And it's going to be way too general in the contract, and you're going to have a hard time finding a way to say no, or you could have a hard time saying no. If it is detailed out in your contract exactly what it is you will offer, there's no room for more scope. We call that in the technical world scope creep. And if they want you to do more, well, hey, that's great. A new contract or an addendum to the contract with an increased price will be what you offer. Now, for corporate clients, I have found that being general is usually better on the contract in terms of what your role and responsibility is for the contract. Now, when you get on site, I recommend getting really specific obviously on what your role and responsibility is. Being general on the contract, I think it protects you a little bit more because so much can change in corporate clients especially if you're there for a long time.
Holly Knoll:
And so you want to be general to allow for the change. That can ebb and flow when you're at a corporate client. Your role within the client could change, your responsibilities within the client could change. And you don't want to have to go do a new contract every time, your corporate client is going to lose patience with you very quickly. And that's just really not how it's done. So when you're working with big corporate clients and you're doing more of a staff augmentation or a consulting role, I recommend keeping the scope of your work pretty general. And then once you get on site being really specific with your client on, okay, now what exactly is expected of me? Or actually, iron that out in the interview, but I don't believe it necessarily has to be reflected exactly verbatim in the contract.
Holly Knoll:
Legal and contracts, find yourself a good attorney. Always have a contract of some sort, it's going to vary depending on the type of arrangement or the project that you're working on, but make sure you have one in place. And then finally, this is my favorite step, step number nine. Are you ready for it? Step number nine is celebrate. My God, we've gone through eight, this is kind of a trick step. This is not really a formal step in building a successful business, but it is. I've just walked you through eight steps that can be a little grueling. Especially once you get into the actual client work, there's a lot involved and you're really putting everything you have into the work that you're doing. Because, gosh, you've got your own business right now. Your name is on the line to do good work, and I know you will. But let me tell you, the pressure, sometimes it feels like there's a little more pressure as a business owner to really perform and to really do a good job.
Holly Knoll:
And so aside from all of that, it is so important to take a step back, pause and celebrate, celebrate your wins. You got a new client, celebrate it. You kicked a bad client to the curb, celebrate it. You found a new lawyer, celebrate it. You helped a client achieve their goals and then some, celebrate it. You helped your client achieve their goals, celebrate it, whatever it is. I don't think you can celebrate too much as being a business owner because we put our heads down in our work, we get caught up in what we're doing. And all of a sudden we look up and it's like a year later. And did we celebrate once in the previous year? No. So make celebration part of your regular practice. And it doesn't mean you have to open a bottle of champagne every time something goes great. Although, hey, I'm not going to judge you if you do do that.
Holly Knoll:
But there's different ways to celebrate, maybe at the end of each month you do a little mini retrospective, what went well? What could you do better next month? And what were your wins next month? Maybe that's a way to really hone in on ways that you can celebrate. And, I don't know, do something nice for yourself, go get a spa treatment or take a beautiful walk in nature and just celebrate the fact that you're alive and you're a business owner. Is it something in nature? Is it something that you want to buy yourself? Is it something that you want to make yourself? Is it something you want to eat or drink or experience? Is it a trip you want to take? Whatever it is, big or small, make sure that you are recognizing and celebrating your wins along the way and giving yourself credit for all of the hard work you've done.
Holly Knoll:
As a business owner, if you can get one year under your belt in your business, you have made leaps and bounds to survive and to make your business work and to make money, and hopefully to be just a little happier, hopefully a lot happier. But if you're a little happier than you were at your corporate job, that is a win. So celebrate, celebrate, celebrate. Let me run through the list of nine again one more time for the people in the back. And then I will close this out. But again, thank you for being here today.
Holly Knoll:
And just to reiterate the nine steps to building a successful freelancing business is one, make the decision and commit that you are going to go all in and start this business. Number two, get clear on why you're starting your business. This will keep you going when the times get tough, and they will. By having a clear why created when you're in a state of positivity and inspiration will keep you going. And then put it on a little post-it note on your computer or somewhere you can see it to keep you going every day. Number three, visualize your wildest dreams. You've broken free from corporate. If you're doing freelancing business as a side hustle or as a full-time thing, you have still opened up a gateway and a pathway to something bigger and beyond what you can accomplish working for somebody else. So imagine what is possible now that didn't feel possible when you were working for somebody else.
Holly Knoll:
Number four, define your offer. Get super clear on what it is that you're offering. Don't confuse anybody when you talk about what it is you do, make sure it's clear and concise. And run it past a 16-year-old kid to make sure it makes sense to them more or less. Get clear because without having a clear offer and without clearly articulating what it is you do, you are leaving money on the table and you're missing out on potential clients because they don't have a clue what you just said. So get clear on your offer. Number five, articulate who your ideal client is, who do you want to work with more than anyone, who makes you come alive? And think about the people who you've loved working with throughout your career. And imagine if you could work with those types of people from now on forever for the rest of your business. And articulate exactly who they are, get down to the most minute detail about who this ideal person is because it's going to, number six, inform your plan to attract and find your dream client.
Holly Knoll:
So come up with a plan on where you can find your ideal client, how you can get in front of them, how you can establish your expertise and then go there and then work that plan consistently. Number seven, taxes and books. Get a really good accountant that can do strategic work and compliance work and get a good bookkeeper. Hopefully no drama bookkeeper, no drama accountant. I've had drama accountants too, it's exhausting. And find people who are kind of like your spirit animals on the books and the taxes side, people who can be your tax whisper, if you will. Because trust me, taxes just are not that fun, and you want somebody that can help guide you through that process.
Holly Knoll:
Number eight, legal and contracts. Get a good lawyer that can help review your contracts. Make sure you always have a contract for any type of work you do. Make sure your scope of your work is clearly defined. And make sure it's signed, by the way. I didn't mention that earlier, but make sure everyone signs it. And always make sure if you're working off of somebody else's contract, make sure a lawyer reviews that contract to make sure your interests are also protected and that it's just not only protecting them. Number nine, what's my favorite one again, what's my favorite step? Oh yeah, celebrate, celebrate your wins. Celebrate your milestones, celebrate mistakes and things that you learned. Like thank you, I'm so glad I learned that. Okay, I messed up there, but I'm so glad I learned that because now this mistake has allowed me to do something else or think a different way or go bigger. Celebrate those things, celebrate the mess-ups, celebrate the wins, celebrate progress over perfection. And just make that a ritual that you do regularly within your business.
Holly Knoll:
It will keep your momentum going, it'll keep you inspired, it will keep you excited just as I am still so excited to be talking to you. I am going to celebrate after this. Teaching this podcast or jumping on this podcast and teaching a little today because I love to do it, and I just get excited. I get so much energy off of just sharing what I know and hoping that you find it valuable. So I'm going to go celebrate today. Thank you friend for being here. And again, my name is Holly Knoll. I'm a business coach, I'm the creator of a program called The Consultant Code. We are not open right now, but enrollment is opening early in 2021. So go to theconsultantcode.com/waitlist. Get on the wait list, and you will be one of the first people to be notified when we open the doors. I'm going to be opening it early next year for a very limited group of people.
Holly Knoll:
So those on the wait list, they'll get early bird opening and they'll get a chance to sign up first. So get to the wait list, theconsultantcode.com/waitlist, and get on the wait list because I'd love to see you in the program. While you're waiting for the program to open up, I want you to go to hollyknoll.com/free and grab my free business action guide. In six easy steps, you will have a solid business idea that you could even start pitching to clients as early as this week. So go to hollyknoll.com/free, pick up my free business action guide, get to work on that. And then I'll see you I hope in the Consultant Code in 2021, theconsultantcode.com/waitlist. Thank you so much for being here today on The Everyday Entrepreneur Podcast. I wish you a beautiful week filled with progress over perfection and inspiration and creativity. And most of all, just alignment with yourself and getting clear on what it is you want so that you can take that next step forward. I will see you next time on The Everyday Entrepreneur Podcast. Thank you so much.
Holly Knoll:
Thank you so much for joining me this week on The Everyday Entrepreneur. There are thousands of podcasts out there, and you chose to be here with me. And for that, I'm truly grateful to you. Make sure to stop by my website, and you can subscribe there to the show in iTunes, Stitcher, or via RSS so you'll never miss an episode. And while you're at it, if you found value in the show, I'd love your rating on iTunes. Or if you'd simply tell a friend about the show, that would mean the world. Finally, check out my free guide to starting a business at hollyknoll.com/free, and be sure to tune in two weeks from today for my next episode. Until next time, keep taking action to build your business.
