Melissa Ek on Freelancing
Feb 4, 2009 50 Words
Melissa says…
Keep a buffer of cash on hand. When that big client doesn’t pay on time, it helps to have something to fall back on.
Hire an accountant. The peace of mind is worth it.
Be nice to EVERYone. You never know who your next client will be.
Network, network, network!
About Melissa
Melissa Ek is a designer (web & print) based in Austin, TX. She can’t believe she’s been freelancing for nearly TEN years!
About this Post
This post is one of a series, written by various people within the web industry. They are responses to my request for a maximum of 50 words on the topic of tips for freelance success. You can use the 50 words category to see all the answers so far.
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Tags: freelance, freelance blog, freelance business, posf
Creating a SWOT
Jan 19, 2009 Excerpts
This is an excerpt from the book, The Principles of Successful Freelancing. Sample chapters are available for downloading from this page.
The planning term SWOT first appeared in the 1960s. A SWOT analysis is really just a simple strategic planning method that helps evaluate projects and businesses. It’s based around a four-square grid, shown in Figure 1, “The SWOT grid explained”, which covers Strengths, Weaknesses, Opportunities, and Threats. I’ve used it a number of times to help me make decisions around new products or service offerings under consideration, and it works just as well for business models.
Example 1. Business Planning Questions
summary
* What is the initial concept?
* What is your current situation?
* What will your key success factors be?
* What are your longer-term vision and goals?
market analysis
* What does the current market look like?
* What is your target market?
* What are the characteristics of your perfect client?
* What do your target clients require?
competitive overview
* What does your industry look like?
* Are there many competitors?
* Who are your five closest competitors?
* What products or services do they offer?
* What opportunities do you have to be unique? (Can you fill a niche or be different from your competitors in some way?)
* What are the risks and threats?
sales and marketing
* How will you attract clients?
* How can potential clients find you?
* What marketing activities would you consider?
plan of action
* What do you need to do in order to kick things off?
* What should you do in the medium term?
* What are some longer-term plans?
Figure 1. The SWOT grid explained
To start your own SWOT analysis, list all of your strengths and weaknesses—these can be thought of as the internal elements, over which which you have some degree of control. Continue by identifying all of the opportunities and threats that you can—these are generally external forces, such as competitors and the industry at large. Then, look for ways to use your strengths, improve on your weaknesses, exploit the opportunities available to you, and fend off the threats.
A SWOT analysis certainly doesn’t need to be as long-winded as it may sound; I have found some of the most useful SWOT analyses are those that fit onto a single page. By way of example, let’s look at our very own Jacob and Emily.
Jacob has put together the beginnings of a SWOT, which looks like this:
| Strengths | Weaknesses | Opportunities | Threats |
|---|---|---|---|
| natural networker (great with people) | small savings, and has never run a business before | knows the industry, has a good understanding of market | many freelancers work nearby |
| fantastic portfolio of work | not proficient with code | has many contacts who may be prospects | larger firms offering a similar service |
Emily, on the other hand, has put together a SWOT that is more like this:
| Strengths | Weaknesses | Opportunities | Threats |
|---|---|---|---|
| has a wide range of skills | not very good at planning | only web developer freelancing in her local area | other people becoming freelancers |
| very hard working | perfectionist; sometimes takes more time to complete projects than she intends to | has a contract or two already lined up | lack of clients in small city |
These examples are only a few lines long, but you can easily extend them to a page or more. The concept is really a succinct and useful method of establishing your pros and cons.
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Tags: freelance book, freelance business, freelance planning, freelancing guide
