20 Ways to Measure Your Business Growth

Management thought leader and author Peter Drucker once wrote, “Management is doing things right; leadership is doing the right things.” Recent research has suggested that many entrepreneurs chose the path they did because they desired one thing—meaning. How can we lead our businesses in measurable and meaningful ways, without getting lost in measuring and focusing on things that don’t really matter?

Check out these 20 ideas we’ve put together to help you assess your growth as a business owner and freelancer.

1. Meeting real needs.
You can be growing, but you can also be growing in a direction that no longer meets the needs of the clients you serve. One way to measure your business growth is to compare it to actual needs of your community and customers through regular needs assessments.

2. Benchmarking.
Are you growing relative to similar businesses in your field? What other businesses out there provide services like yours, and how are you different or the same?

3. Leads and referrals.
Tracking the number of new leads and referrals you have each month can give you helpful insights into patterns. Asking these leads how they heard about you is another opportunity to learn what’s working well and possibly whom to thank for referrals.

4. Ratings and recognition.
Higher customer ratings are correlated with increased business. Regularly review your ratings, whether on Google, Yelp, or any other online customer reviews. Looking at ratings and reviews over time can indicate whether you’re growing in a positive direction in the eyes of your customers. Another way to measure growth is being recognized as a leading business in your community or industry, such as applying for and achieving a widely known business recognition, distinction, or seal of integrity that you can display in your marketing.

5. New clients.
If people are knocking on your proverbial door to do business with you, chances are you’re doing something right by offering a needed service and having positive word-of-mouth marketing from your existing customers. Learn more about them and what brought them to your business.

6. Loyalty.
Repeat business and contract renewals are an important aspect of sustainable business. What percentage of your customers would you consider loyal or repeat customers? These are important relationships to nurture, as loyal clients make great (free) marketers who will often happily test-drive new products and services and can even provide the most helpful insights to improve your overall business strategy.

7. New hires.
New team members can be an indicator that you’re ramping up to meet increased demand or growing services and that your company is perceived as a desirable place to work.

8. Retention and engagement.
Measure the average length of time team members stay on board with your business. Retained team members are usually a good indicator of employee satisfaction, a great culture, and successful leadership.

9. Employee growth and development.
One sign of business growth can be found in a measure of your employees’ growth, which is now a well-known factor in employee engagement. If your team members are gaining desirable skills, that development along with their high engagement level can tremendously benefit the growth of your business.

10. Profit.
One sure measure of growth is reflected in your business’s bottom line. If work is plentiful, you should ideally see a reflection of that in your profits.

11. Diversification.
One way to gauge your growth is in terms of sustainability. For example, your efforts in strategic diversification of products, services, or geographical areas served can help you avoid localized impacts. You may also have identified opportunities for growth work or add-on services that will help further solidify your income.

12. Online reach and engagement.
Reviewing your website analytics can give you a picture of your customer reach and engagement over time and relative to certain marketing campaigns. Using trackable links is another great way to see ongoing performance of marketing efforts. If you manage social media pages, you can measure followers, post engagements, and shares. (Here’s an article with great ideas for engaging your social media followers.)

13. New partnerships.
Partnerships are a great measure of business growth because together you are working to provide more or better services to clients or to better streamline the services you provide by cross-referring customers. Tracking the number of business partnerships you have this year over last year could be a good measure of growth.

14. Shareholders.
New investors, funders, active board members, and increased employee giving or board-member giving are great ways to measure others’ confidence in your company or cause and to track growth in that confidence level over time.

15. Expanded services.
Reflect on the number of ways you successfully expanded products, programs, or services in the past year(s) to meet customer needs.

16. Focus and efficiency.
You’re experiencing a kind of growth when you’re seeing better productivity and efficiency along with a more streamlined focus—where there is decreased effort in combination with increased output.

17. Reduced costs.
If you are proactively identifying ways to reduce overhead costs or leaks from ineffective practices, that’s a measure of growth. Effective planning can also help reduce costs, and your strategic planning activities are another aspect of your business you can capture and measure over time.

18. Customer satisfaction and issues resolution.
It directly impacts your bottom line, so you’ll want to ensure systems are in place to measure customer satisfaction and seek feedback often, resolving any issues quickly. Issues resolution is another activity you can track and measure over time to look for indications of growth and improvement in that area.

19. Increased demand.
An increase in demand for your products or services may be a positive indicator that you’re meeting customer needs well and that you have effective marketing efforts in place. Taking steps to understand where the new demand is coming from can help you with future performance.

20. Charitable giving.
A positive, meaningful way to measure your business growth is in how much you are able to give back to the community through charitable acts of giving or volunteering by you and your team.

If you’re looking for ways to take your business to the next level, we have a Powerhouse resource devoted entirely to helping you achieve that. To check out all of our “20 Tips” resources, check out our Powerhouse Resources page and follow us on Facebook.

2020-05-06T20:02:55+00:00June 1st, 2020|

20 Things That Truly Matter in Business

A great skill to sharpen is your ability to recognize what is important for your business in the long term. As you cultivate this ability, it becomes easier to actively prioritize the things that are truly significant over the things that simply feel urgent. In this Powerhouse resource, we will navigate you through 20 essential focus areas that prove worthy of your time and investment.

Relationships

1. Build a culture that values people. A secret of successful businesses is that they’ve mastered developing a great culture centered around their people. Large organizations the world over measure and work to improve their employee engagement because it directly affects their bottom line. And engagement comes down to a few simple things, such as feeling valued and supported, doing meaningful work, and having a leadership culture that fosters trust and empowerment.

2. Learn what matters most to your customers. Your ultimate success can usually be determined by the intersection of two key points: how well you harness your strengths to do what you’re good at doing, and how well this meets your customers’ needs. You can only get so far on that first one, so you’re surely going to need some input on the second.

3. Develop great partnerships. Building strong, healthy, reciprocal relationships with other businesses can really work to propel both of your operations forward. Increasing networking opportunities, pooling resources and client bases, streamlining processes, and finding positive new ways of doing business together are just a few of the potential benefits.

4. Find sources of support that strengthen you. Mentors can come in many forms and need not even be senior to you. Take notice when you are in the company of someone who inspires and motivates you, affirms you, and gives you the courage to reach higher in your goals. Spend more time with these everyday mentors, and you’ll feel the positive effects in other aspects of your life and business.

Perspective

5. Keep reflecting on the values and standards that guide you. If you have a personal dedication to keep all communications positive and uplifting, for example, this principle can help you navigate conversations, marketing plans, or even conflict resolution. Lean on your moral foundations to guide you through circumstances both large and small.

6. Take the long-term view. When you’re faced with either a great challenge or an awesome potential opportunity, hold it up against your big picture, your long-term plan. Seeking this perspective can help you avoid lots of twists and turns that might otherwise slow down your progress toward your big, long-term goals.

7. Give yourself permission to flex in the short term. Sometimes, despite our best efforts to stay the course, we are dealt an untimely pothole or a fork in the road. It’s okay to make swift calls to action to keep yourself afloat when things get tough. Sometimes making changes is safer than the alternative of being eventually rendered obsolete.

8. Do a few things really, really well. Success is more often a product of doing less than doing more. Just focus on doing what you’re good at, doing what is worthwhile, and doing these things exquisitely.

Communication

9. Share good news. Foster confidence and establish credibility by regularly sharing what’s going well, celebrating successful outcomes, and talking about goals and future plans you’re excited about.

10. Encourage trust by being transparent. Share openly about what you’ve learned and about your future plans—and involve people in them—and watch your relationships deepen. For more ways to establish credibility, check out our Powerhouse resource with 20 tips devoted entirely to this topic.

11. Be dependable; it’s a powerful form of respect. Be on time for appointments, start and end all phone calls or meetings on time, and by all means deliver what you said you would. The underlying messages of these simple actions say, “You matter to me,” “I value our relationship,” and “I respect your time.”

12. Accept feedback graciously. If someone is brave enough to tell you that something went wrong, welcome the feedback with open arms. Most customers won’t take the time to complain; they’ll simply take their business elsewhere and never return. That’s not a scenario that helps you learn and improve, so ask for feedback and thank customers who are willing to tell you the truth.

13. Be a familiar face. There’s a simple psychological phenomenon called the “mere-exposure effect,” which suggests the more we see someone, the more we come to like them. Have you ever loved going to a restaurant where the owner always came by your table to say hello and engage in small talk? It’s a simple gesture that leaves a great impression.

14. Make communications meaningful. We have all experienced “spam” and overcommunication. When you send out communications, make every effort to be clear, concise, and relevant to your recipients.

Growth

15. Remember that you’re growing. Much of running a business requires you to focus outwardly on others. It’s equally vital that you invest in your own growth and development. The more we learn and begin to become an expert in our field, the more our enjoyment of our work can grow.

16. Strive to stay relevant. You rocked this starting a business thing! Now comes the fun part—keeping your business strong through changes in the market, technology, and other unknowns that lie ahead. In addition to learning continuously from your customers, identify other opportunities to keep your business ahead of the curve.

17. Learn from mistakes, when you can. Not one of us is immune to making mistakes. Fortunately, it’s a proven way to learn—even more effective than being told the right way to do something from the start. Don’t worry about perfection. It’s okay to take risks and experience some failures, especially when you commit to learn from them.

18. Focus on your strengths. There is an old proverb that says, “If you chase two rabbits, both will escape.” A good strategy in business is to pay really close attention to what you love doing and what your personal strengths are. When you know the answers to those questions, you can intensely focus on the one thing you can do really well.

19. Give back. You should be tremendously proud of yourself if you’ve deemed “giving back” a measure of your business success. Benefitting others and creating a positive impact in your community make your work feel more meaningful and have a positive effect on your overall sense of well-being.

20. Grow and reward loyalty. Loyalty is quite possibly the strongest determinant of business success. Loyal customers support your bottom line with repeat business and grow your reach through positive word-of-mouth marketing. Building loyalty in the first place takes great customer service and relationship-building. Look for ways to reward loyalty once it’s there, such as simple gifts of thanks and recognition, milestone discounts, and membership perks.

2020-04-20T16:13:56+00:00May 25th, 2020|

20 Tips to Have Fun at Work

According to the Bureau of Labor Statistics, 89% of working Americans spend an average of 8.5 hours every weekday and 5.6 hours per weekend day at work. That translates to roughly 90,000 hours or 1/3 of an average lifespan spent working. That’s a staggering number. In August of 2019, The Conference Board released its report on job satisfaction, with 54% of Americans reporting that they are satisfied, a three-point jump from the previous year. So, while Americans are basically satisfied with the work they do, they’re spending a lot of their lives doing it.

We’ve all heard the phrase, “If you’re going to do something, do it well,” and an entire generation has embraced the YOLO (You Only Live Once) philosophy. When we realized how much time we all are going to spend working, we decided there has to be a way to make the most of it. Below you’ll find 20 ways to have fun at work, presented in no particular order. These tips may not all be practical for your work situation, but we’re betting you can find plenty to help you live your best, most fun work life.

1. Decorate. Yes, we’re serious, decorate! Whether it’s your cubicle, your office, or a part of your desk, bring in those vacation photos, the children’s artwork, special mementos, or tchotchkes. Anything that brings a smile to your face and reminds you that you do, in fact, have a life outside the office.

2. Make friends. We know, you don’t necessarily go to work to make friends, but whether you like it or not, your coworkers are fixtures in your life. We’re not saying you have to become BFFs, but work friends can make coming to the office a much more pleasant experience. Remember, nobody knows what you go through at work better than those who go through it with you.

3. Create happy moments. Whether it’s leaving a note of encouragement on a coworker’s desk or offering a compliment to another coworker, bring a bit of joy to the office. We all like receiving compliments, knowing we’re appreciated, and feeling like we’re not alone. Bonus? Making these small gestures will not only improve office morale, but it’ll make you feel good too.

4. Create or join an office team or club. Thinking about joining the office softball team? Do it. Ever wonder if your colleagues like the same books you do? Consider starting an office book club. It’s all about connections. The more connected we are to those we work with, the more productive we’ll be. Seriously—you may not think of softball or book club as team-building exercises, but they are. You’ll more effectively work together on group projects; the more comfortable you feel with one another, the more likely you are to put your more creative ideas out there for discussion.

5. Get up and get out. Make time every day to get away from your desk. Go for a walk or get in a mid-day workout. Physical movement gets the juices flowing, can give you that afternoon pick-me-up (without the added calories), and can afford you the opportunity to take a colleague with you. Invite a colleague to walk with you to a nearby coffee shop and talk through a work issue that’s been bothering you. Or invite someone to be your gym buddy. Alternatively, take a few minutes to yourself to recharge your batteries. You’ll get more done and feel better, too.

6. Solve a riddle. Engage in a good, old-fashioned, non-work puzzle. Do a crossword or word search. Break out that Sudoku you’ve been meaning to get to. Better yet, institute an office-wide puzzle break. Consider emailing a daily riddle challenge to everyone in the office. Give a small prize or bragging rights to whoever solves it first. Just make sure you check with your boss first and get permission. Even if your boss doesn’t go for it, consider limiting it to just your division or team.

7. Celebrate. Yes, a festive atmosphere gets everyone in a happy mood. Celebrate birthdays or work anniversaries, or get into the holiday mood. Consider implementing a “Fun Committee” to keep track of celebrations, just make sure to rotate duties so everyone gets a chance to just show up.

8. Allow spontaneity. This may be a little difficult if you’re not the boss, but encourage spontaneity where you can. For instance, maybe the office is super quiet and there aren’t any clients currently in the building—declare it’s party time and crank up the tunes. Let everyone get a chance to get up, dance, chill for a song or two. Then go back to business as usual.

9. Send handwritten notes. We admit this suggestion is mostly for bosses and managers. Take a little time to send handwritten notes of appreciation to your employees. Then arrange for them to be delivered “anonymously” at random times. Your employees will appreciate knowing you see and admire the efforts they’re making, and you’ll get a little joy knowing you’ve made them smile.

10. Go on work outings. Take a small bit of time and get the office out of the office. Arrange for everyone to have a picnic lunch at a nearby park or organize an after-work activity, such as an Escape Room adventure. Everyone gets a chance to interact outside of the office environment and, depending on what you do, you could just sneak some team-building skills into the mix.

11. Do group exercises. Did you know that schools in Japan start each school day with group exercises? Many Japanese companies have adopted a similar strategy. Not only does everyone get a chance to get up and get moving, but group exercise has several positive benefits, including increased productivity. It doesn’t have to be anything extravagant, just a few minutes of shared activity.

12. Give yourself a reward. Give yourself permission to celebrate a job well done for every task completed. Whether it’s a pat on the back, a high five, or five minutes to revel in your success, find a ritual that is rewarding for you, something small that serves to remind you of your accomplishments and that you rock.

13. Meditate. The benefits of meditation are varied, but they can include increased productivity, creative breakthroughs, and stress relief. Take a few minutes every day to meditate. You can find countless tutorials on the internet or you can create your own meditation routine.

14. Play a harmless prank. Yes, we’re giving you permission to be a little immature. Just keep it harmless. Plaster a coworker’s space with Post-It notes, or pin a funny comic up. Maybe rearrange items on someone’s desk. Just make sure that whatever you do will be received in the playful way you mean it. And be ready to fall victim yourself.

15. Start a charity drive. What better way to promote feelings of well-being and happiness than by doing something meaningful for those less fortunate. Take a favorite charity and organize a drive or benefit. Or poll your coworkers. Just get the office involved. Not only will you all be working together for a common cause, but you’ll also feel good about helping others.

16. Track tasks with a productivity app. “There’s an app for that.” Take those nagging details you just hate to track and let an app do it for you. You’ll relieve some niggling stress and you’ll have an accurate accounting should you need it, too. Whether you setting reminders or tracking taskers, it’ll relieve you to know that the app has your back. No more worrying you’re forgetting something. Some even allow you to share reminders with your coworkers so everyone remains on the same page. It’s as easy as finding the right app for you and downloading it.

17. Have regular no-business meetings. Schedule regular meetings where you talk about anything but business. Whether you discuss the latest water-cooler Netflix show or how the local sports teams are faring that season, make time for small talk. Not only might you learn that you do have something in common with that difficult-to-know colleague, you’ll be giving your brain permission to turn itself off for a few minutes. These meetings don’t have to be long, but they do need to be regular.

18. Organize goofing-off time. Start a pick-up basketball game at lunch. Or hold a trash can basketball tournament toward the end of the day. Maybe a speed board game event is more up your alley (think speed dating only with board games). Organize times to set aside work and have some silly fun. Put a white board up in the break room where everyone can jot ideas down and then pick a few to implement.

19. Get some toys. We know, it sounds strange, but pick up some Pez dispensers or slinkies or hula hoops and bring them to the office. Perhaps a couple of pool noodles for mock sword fights or a few coloring books. Keep a “toy box” in the break room where employees can go and pick a toy for a little stress relief. Trust that “what happens in the break room will stay in the break room.”

20. Start a 30-day happiness challenge. Not sure what that is? Do a quick internet search and you’ll learn all about it. Challenge all your coworkers to complete the challenge. Not only will you all gain a little happiness, but work productivity will rise as well, and everyone will be better for it.

2020-03-23T20:09:34+00:00May 1st, 2020|

I’m Resilient, but I Can Be Broken

Our world was turned upside down and our country was sent into a tailspin in March from COVID-19. Our lives have all been impacted. Our minds are in overdrive.

I’ve read in article after article through the pandemic that military families are best prepared for these types of times because we are resilient. There is truth in that statement. Military families are very resilient. Military families are also comprised of humans not superheroes.

Yes, we can totally appear to be heroic in our own right.

  • Military men and women saving others in times of war.
  • Military men and women taking on overseas deployments time and time again.
  • Spouses dealing with the death of parents alone while their spouse is deployed.
  • Spouses evacuating from a hurricane solo with three kids.
  • Spouses giving birth solo.

Heroic, of course, but let me reiterate that we are human. Military spouses are human. CEOs are human.

In just a few weeks, my husband heads out to sea, and I’m having to have discussions I never dreamt of when I accepted this lifestyle. I’m in a spot now where I have to figure out how I will balance being a mother to three (8, 5, and 4 years old), running a company, assisting my son with virtual learning, and figuring out how to do life. I’m asking myself questions like these:

  • If I get sick, how will I make sure my children’s basic needs are met?
  • Will I self-quarantine and then if I need to be hospitalized call on a friend to take the children?
  • What if one of the children gets sick?
  • If my parents are sick, how will I deal with that weight solo?
  • How much do I share with my kids, yet allow them to have the innocence of childhood?

When big life things have happened in the past, my village was able to show up. A great example was during my last hurricane evacuation with three small children, I had one friend mail me a box of goodness for the kids to have to play with at the hotel. I had over dozen people in my neighborhood volunteer to help put up my hurricane shutters. I had two friends ship me groceries to the hotel. I had a friend connect me with someone they knew in the local community where I evacuated to help me find things to do with the kids.

Over the years, I’ve also had my mom show up time and again to be there to assist. The same goes for my in-laws.

Now it’s important that people don’t show up. Keeping our distance saves lives.

You all…I can be broken. The weight we’re asking our military (and health care, first responder, etc.) families to take on is not okay. We are not okay. Maybe some are, I suppose, but for those of you who feel like this is the biggest “ask” you’ve ever felt as part of this lifestyle, understand others are feeling the depth, uncertainty, and hurt you’re walking in. You are not alone.

I have no answers nor a magic wand to make our lives return to where they were. The only thing that’s getting me through is having truth in every conversation with my spouse. We’re creating our own family plan so we both have peace of mind when and if yuck happens. I’ve also told my spouse the depth of weight I’m being asked to carry. (And trust me—he’s being asked to shoulder a ton on his side, too.)

My encouragement is to live in your truth and strive to find happiness each day. When people ask, “How are you?” I’m actually answering with truth in how I feel in that moment. I’m also trying to find moments of happiness each day. In the suck there is sunshine, I’m certain. Every storm brings madness, but the sun always shows up. Always. I’m praying more—fiercely praying. I’m praying over my family like I always do, but I’m focusing on me, too.

Just know that some of us are breaking a little, and it’s okay to let others know. It’s important to note that being resilient doesn’t mean you don’t break. In fact, it is more about how quickly we can bounce back and recover in those times when we do. You are not alone. And in the end, we will be stronger and, who knows, maybe even a little more resilient.

P.S. There’s no shame if you need some help. Here are some great places to start: www.militaryonesource.mil/coronavirus and www.militaryfamily.org/what-military-families-need-to-know-about-covid-19.
If you’re a trying to lead people through this madness, you might want to check these out, too: 20 Tips for Leading Your Business Through Challenging Times and Powerhouse Planning Goodness and Resources: For the Freelancer and the Business Owner

2020-04-16T19:45:38+00:00April 15th, 2020|

Client Spotlight: Coastal Addiction

Sunshine and sea foam, surfing, diving, fishing. It’s not just a tagline on a vacation brochure—it’s a lifestyle, and Coastal Addiction is all about quality products that personify that lifestyle. Whether sun and sand are your part-time interest or your full-time obsession, here are three reasons (of many) why you’ll want to support this business.

1. Coastal Addiction is a disabled veteran owned business. Owner Tommy Bowling served 12 years in the Marine Corps, and as the saying goes, “There’s no such thing as a former Marine.” He runs Coastal Addiction with the same heart, drive, and discipline he learned in the Corps. Both personally and professionally, there is no “I can’t” for Tommy (or for anyone in his presence, for that matter). There is only “I’m currently unable to” and then a commitment to work on turning that into “I can.” This can-do attitude motivates Tommy and his team to continually provide exceptional service and products.

2. Products are “made in the USA” with a focus on quality. Almost every product line we wear today is made in China and known for a very short life, falling apart after only a few times worn. Coastal Addiction believes in supporting American manufacturers. Their products include a complete line of tees sized for children age two all the way up to adult. Just about all of their products are made in the USA, and they test every product for quality and durability. They use DTG (direct to garment) imprints, which mean you can count on improved picture quality, clarity, and life of the product. And made-in-the-USA hats are on their way, with images embroidered to last!

Tommy says, “We are most proud of the quality of our products. Consumers today vote with their dollars and so many brands take their customers for granted. We don’t—we feel honored every time someone buys a product from Coastal Addiction.”

3. The company is committed to charitable work. After leaving the military, Tommy began participating in endurance events. Wanting these races to serve a greater purpose, he chose to raise money for charities he cared about. With each race, he far surpassed his fundraising goals and raised much-needed funding for nonprofit organizations.

In 2017, Tommy and Kellie Bowling (Tommy’s wife and business partner) started Warriors 4 Kids with the goal of recruiting other endurance racers to fundraise to support children’s causes. To this day, Tommy continues to participate in ultra-endurance events, with every dollar raised either going directly to children or promoting awareness for kids in need. Everyone who works with Warriors 4 Kids is a volunteer who donates their time and money to make a difference in the lives of children. Coastal Addiction plans to continuously provide charitable support to coastal-related nonprofits like the Sea Turtle Rescue and children’s causes through Warriors 4 Kids.

(Make sure to follow Warriors 4 Kids on Twitter and Facebook! You can support their work here!)

If your interest in the coastal addiction lifestyle extends beyond great looking, high-quality, made-in-the-USA apparel, you’ll want to stay tuned! The company is creating Coastal Addiction TV on YouTube where they’ll feature weekly shows covering the coastal lifestyle. They have been in talks with local fishing guides, surf schools, and dive charters to film shows covering a range of topics of interest to fans of the coastal life.

And plans are in the works to offer trips to destination locations where you could be selected to join the adventure and be a part of the episode as well! For information about these upcoming travels and more, like and follow Coastal Addiction on Facebook!

So where can you gear up in the latest and greatest coastal-themed apparel? You won’t find Coastal Addiction in stores—they’re committed to monitoring quality by controlling their product line from manufacturing to sales. But you can shop high-quality, American-made products on their website.

A disabled veteran owned business focused on supporting American-made products and committed to giving back to those in need—Coastal Addiction is an apparel company that’s providing so much more than apparel.

2020-04-11T16:30:18+00:00April 7th, 2020|

20 Tips for Freelance Success

Freelance work has grown exponentially with the creation of the internet. The trend toward freelance work continues to grow, according to several studies, due to the flexibility for individuals to choose their place of work. Some freelancers choose to work from home; others opt for a favorite coffee shop or a coworking space with friends or colleagues. Many freelancers have adopted a travelers’ lifestyle that allows them to work online and travel the world at the same time. In this resource, we provide 20 tips to help freelancers succeed no matter their preferred location or field of work. We’ve divided our tips into four sections: goal setting, budgeting, time management, and adapting.

Goal Setting
Tip #1: Envision your ideal life. What is it you see? What are you doing and where are you working from? Once you have the vision, begin working on the details that will help you get there.

Tip #2: Create short- and long-term goals. With a vision in mind, which is your end goal, create short-term goals for the next three, six, and twelve months. Developing an additional long-term goal of three or five years can also be helpful. These goals will help you identify priorities and create a timeline. Keep these goals somewhere you can revisit regularly.

Tip #3: Write SMART goals. That is, goals that are specific, measurable, attainable, relevant, and time bound. Instead of simply saying, “I want X more clients by a certain date,” be specific in the type of clients you want. Are they design focused or brand development clients?

Tip #4: Believe in yourself. You’ve set your goals based on the vision you see. Now it’s time to be confident in your abilities and the goals you’ve created. If you’re not confident in yourself and your goals, it will be much harder to achieve them.

Tip #5: Embrace your fear of success. According to several scientific studies, your fear of success might be stronger than your fear of failure [1]. Acknowledging your fear of success and facing these fears for what they are may give you a more mindful and productive relationship with your goals.

Budgeting
Tip #6: Track your expenses. If you aren’t already, there is never a better time to start than now. You need a budget, and the best way to create one effectively is by knowing how much you are already spending. Therefore, you should track your expenses for three months. You don’t need to track all of them, but specifically pay attention to the flexible expenses—items that can vary and/or those you can cut if needed.

Tip #7: Plan for discretionary spending. When you’re employed with a fixed income every month, you know your limits on spending for nonessential and luxury items, but as a freelancer, your income can vary from month to month. When you’re working for yourself, it can be easy to go online and find all sorts of things to buy. Curb the temptation and sock extra discretionary money away for the vacation you’ve always dreamed of instead.

Tip #8: Use the 50/30/20 proportion rule. This rule helps you build a budget by using three spending categories. Based on your expense tracking over a three-month period, you can place all of your expenses into the essential expense category (50% of your income), the flexible spending category (30% of your income), and the remaining 20% should be placed in a savings account, investments, or in debt-reduction [2].

Tip #9: Spend wisely. It’s common to face times when you have to cut your expenses, but freelancers may experience this more often than others. There are several ways to reduce spending and make sure that the money you do spend is used wisely. For example, go grocery shopping once a week based on meals you’ve preplanned; cut down on alcohol consumption; and/or purge assets you are not attached to (jewelry, antiques, etc.). This money can help you pay off personal debts or allow you to go for that splurge you’ve been dreaming of—and you won’t have to touch your savings!

Tip #10: Create short- and long-term savings. If you don’t have one yet, it’s time to start an emergency savings account for unexpected expenses. Financial planners suggest one month’s worth of income [2]. A long-term savings account should also have three to six months’ worth of income set aside to handle slumps in income that can befall even the best freelancers. Dividing things up helps you keep track of what you have and what you need to replenish your funds.

Time Management
Tip #11: Make a schedule. Freelancers often have a flexible schedule, which leads to one of the most common mistakes for freelancers: Flexibility is not an excuse to procrastinate. You don’t have to work 9 to 5—maybe your optimal work time is 10 to 6 or 8 to 4—but no matter what schedule you choose, it’s best to stick to it.

Tip #12: Take days off. While you plan your schedule, do not forget to take time off—not just weekends but also vacations. Remember that you don’t need to have traditional weekends, either. Maybe you schedule your days off on Tuesday and Friday each week. Do whatever works with your schedule, your clients, and your needs!

Tip #13: You’re in charge of your time. As a freelancer, your responsibility is to do what you say you’re going to do, to the best of your ability, to help your clients achieve their goals. The downside of being this super-productive and reliable freelancer in a world where most people don’t follow through is that your clients may come to overly rely on you. Don’t forget to take charge of your time, especially when clients are in different time zones and try to call when you are off hours.

Tip #14: It is okay to say no. The most importance time management skill you have at your disposal is your ability to say no. Boundaries are a safe and productive way for you to manage and negotiate time and responsibilities. One of the greatest benefits of freelance work is that you are your own boss in most situations, but don’t squander this perk by forgetting you can say no.

Tip #15: Write it down. If you’re spinning your wheels, feeling unproductive, and procrastinating, start a time diary. For a set period of time, perhaps start with a week, write down everything you do and when you do it. At the end of the allotted time, analyze where you’ve been wasting hours (on social media?) or simply failing to bill appropriately for time spent on a project. Adapt accordingly!

Adapting
Tip #16: Embrace networking. Few freelancers enter this arena with the intention to network, but when you need more work, attending industry conferences, panels, and mixers is something you need to consider in order to meet new people. While these networking events are clearly important, don’t forget to look to past clients as well; they are often the best salespeople you’ll ever need.

Tip #17: Seek self-improvement. Times of slump at any point in your freelancing career are the optimal time to seek additional work through self-improvement. This downtime is an opportunity to take stock of your evolution—what you enjoy doing most, what training you may need, and how you can go from where you are to the next level in your business.

Tip #18: Think with mobility in mind. If you’ve been a freelancer for a long period of time, you may rely on a desktop, which is useless when you need to travel. To stay mobile, you’ll need a laptop or a tablet, or potentially both, so you have a backup option in case one fails for some reason. Always keep a backup flash drive so you can seamlessly transfer data across platforms in case of emergency, and remember that backing up data to an external hard drive or specialized app is your best friend.

Tip #19: Be proactive. Advertise yourself on freelancing networks. Find the sites that post freelance jobs and subscribe to their email list to receive new updates to the job board. Reach out to companies you admire. You’re the only one who can find your next job, so start your search. You’ve got this!

Tip #20: Prepare to adapt and overcome. Above all else, be willing to adapt to change. The growth of the internet and social media has taught us to expect change at rapid rates. By budgeting your income, managing your time, and setting goals, you are setting yourself up for success. But remember that change can happen rapidly, and if you’re too focused on your timeline, you may miss out of the next best opportunity to grow as a freelancer. Follow the latest trends and set yourself up to adapt and overcome every challenge you face.

2020-02-12T17:55:43+00:00April 1st, 2020|

CEO SPOTLIGHT

From Ski Lift Operator to Small Business Owner

By: Heatherlynn Akins

When Julie Kiddoo decided to take a year off after graduating from college in 1994 and moved to the Vail Valley in Colorado, she never thought she’d one day be a small business owner. Her parents had moved from their home state of Minnesota to Vail, and Julie thought it’d be a great idea to stay with them for the ski season. Little did she know that that decision would turn into a 25-year-long adventure in the Colorado Rocky Mountains, after meeting her husband when they both worked as ski lift operators in 1995.

Initially, Julie stayed in the ski industry. She held several jobs from the aforementioned ski lift operator to Vail Ski Patrol to guest services. Eventually, she started her own seasonal gardening business, which she operated for 12 summers before she took the plunge into full-time small business ownership. She’d been teaching yoga classes at a local club and felt limited in her capacity to lead and develop programs on a bigger scale. “I had fallen in love with Baptiste Yoga, which is the style of yoga we offer, and knew that I wanted to be able to share the practice and methodology without any constraints,” she says.

Julie knew how personal the journey to self-growth and self-recovery could be. She also knew how rich and meaningful yoga could be to that journey. Still, she held back, wondering if opening her own studio was really the right thing to do. Fearing the unknown and potential failure, and now a mom to two children, Julie just couldn’t pull the trigger on her dream. When one of her favorite yoga teachers and mentors was getting ready to open her second studio, Julie decided to ask her about what it was like to step into the shoes of a small business owner. She recalls her mentor telling her, “Fear will be present, but the risk of not doing it at all is far greater than the risk of doing it and failing.” It was at that moment that Julie knew it was time, regardless of the risk involved.

In 2012, Julie opened Revolution Power Yoga in Avon, Colorado, a small town located near Vail. “The biggest challenge,” she says, “was opening a yoga studio in a brand-new market, not knowing if it would succeed.” The second biggest challenge, and one nearly as great, was finding a location that would meet her needs. It is a challenge to be a full-time resident in a mountain resort town. Space is at a premium and, as everyone knows, location is everything. Luckily, everything fell into place and Julie and her family never looked back. (more…)

2020-03-25T19:24:59+00:00March 25th, 2020|

Did You Know?

Freelance survival is all about working smarter, not harder. That, and knowing when to make time for yourself, whether that be focusing on your personal health and wellness or spending a little extra TLC on your professional concerns. Powerhouse has tons of resources to help you find the perfect balance between your hard-charging career needs and life. Check out our career resources and life resources for tons of information to make your “survival” just a little easier.

2020-03-25T19:24:31+00:00March 25th, 2020|

MARKETING BUZZ

3 Freelancer Survival Tips

By: Julie Kirchner

Monitor your time. Knowing how much time you spend on typical client deliverables is key to marketing your business successfully, managing your time, and giving you the confidence to say yes (or no) to additional projects at a given time.

Even for projects that bill by completed deliverable (versus hours), you’ll want to track the amount of time it takes you from start to finish, for your own knowledge. Are you charging the right rate, given the time it takes? Do you need to schedule some time to learn a new digital tool that can help you scale projects faster and cut down on wasted time?

To start tracking your time on work projects, try using a time tracker tool such as Toggl, a free app that allows you to track your work hours for different projects and clients conveniently from your phone. You can add depth to the information you track (such as clients and project titles) and even run simple, visually appealing reports online at the end of the month that really showcase how you’re dividing your time. Over time, you’ll develop a keener sense of the time involved in each type of deliverable. This can also help you set more accurate rates when you’re asked for quotes in the future.

(more…)

2020-03-25T19:24:10+00:00March 25th, 2020|

BUSINESS ETIQUETTE

20 Quick Tips for Freelance Survival

By: Karen Pinkston

In our smart-phone, text-message culture, it’s sometimes easy to forget that business is about people. If you want to thrive as a freelancer, you must get to know the people behind the organizations you serve. Having proper etiquette will help you foster client relationships and grow your business. Here are some tips to help guide your freelance journey.

1. First impressions matter.
When you first meet clients, introduce yourself with your first and last name. This shows confidence and makes you more memorable.

2. Find common ground.
Break the ice. Ask your clients about where they’re from or what they’re really passionate about. Do they have kids? Pets? When you get to know people first, you’re creating a comfortable environment from the start. You see them as people and not just as a paycheck.

3. Don’t schmooze too much.
Relationships take time. Find the right balance of getting to know your clients yet focusing on the work as well. Even though you can use a more relaxed tone, you should maintain a certain level of professionalism.

(more…)

2020-03-25T18:53:14+00:00March 25th, 2020|