How $350 provided direction
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In the past few weeks we’ve featured case studies as to how different businesses have benefited from our one hour brainstrorming and consultancy services. Each business we’ve featured so far, has had something in common. They are already established businesses. In this post we are showcasing reader BL who has yet to set up his business. Hence the initials as he’s still working for his employer.
Essentially, BL is looking to start his own business as a coach and motivational speaker. But didn’t know where to start. BL was looking to go it alone as with reductions in his company’s client’s budgets could mean that there might be reductions in headcount. So his drive for starting his own business was around safeguarding his income and establishing a bigger career for himself.
After a few minutes chatting on Skype, BL outlined why he was looking to ‘go alone’ and what markets that he was planning to go into. Essentially those markets were the same as his existing employer. This could cause two major issues:
1) He may be in breach of his employment contract
2) He would be going up against established competition with the same offer
So, we advised him to steer clear of these markets and find a new markets. After a few more minutes we quickly identified that a suitable market existed on his doorstop.
A lot of BL’s work had been in the area of self confidence and self belief. As his local area has high levels of unemployment how about providing mindset coaching to those who have been out of work a long time or motivating those looking to start their own business. This is a new market that is not touched by either his existing employer or his other coaches in his local area.
Leverage the people you know
BL also thought that he didn’t think he knew any contacts who could help him get started, but then after chatting it through he realised that he did actually know some people, and he agreed as his next action to go and talk with them.
BL still needs to build his business plan which we will help him with, but one of the options that we discussed about when he decides to make the move to ‘self employed’ is to talk to his existing employer and see if he could still undertake his current job but as a service provider rather than as an employee. Basically his existing employer could contract (say) 10 days per month and buy extra days as required.
Become a supplier instead of an employee
This would help BL’s employer to reduce it’s employment costs and also give BL a ‘guaranteed’ income for however long the arrangement could be negotiated for. This would have several advantages for his employer:
1) Not having to pay redundancy costs
2) The employer reduces costs without the loss of BL
So what could we do for you?
For an investment of $350 you get 1 hour of our time by Skype and we can talk through the problem and work out a way forward to help you grow your business or make more money. To find out more and book our services click here.
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I’m really enjoying these case studies Matthew. It’s wonderful to read of real examples and of course, they’re also a great advert for your services
The idea of BL becoming a service provider is a great one. I sometimes get the impression that when people go from employee to self-employed, they have to cut all ties with their former life but this case study has shown how it is possible to utilize the better aspects of being employed and work them to ones own advantage. Nice one
Eleanor Edwards´s last [type] ..How to rock your world in 3 easy steps
Matthew Needham Reply:
July 1st, 2010 at 1:19 pm
In big firms they often outsource entire departments. But the same staff continue to supply the services, just working for someone else. I guess you’re a bit like that if you do your teaching work. Same work different ‘employer’.
This is happening more and more, where employees are quitting the company they worked for, went freelance and then got hired back on project basis for much more money.
The company no longer has to provide benefits and the freelancer gets their life back.
I’m really loving these posts Mattew. It finally convinced me to hang out my own consulting shingle just today, which was ironic that you came out with another one of these posts.
I also look forward to becoming “one of the gang” on the Infopreneur with you and the rest of the crew.
-Joshua Black
The Underdog Millionaire
Joshua Black | The Underdog Millionaire´s last [type] ..Customer Research from A True Karate Master
I agree with Joshua that it’s happening a lot. People realize that they can offer their services better to their employers, rather than being an employee of the company. Sometimes it’s your choice (always better) and sometimes the company lets full-time people go and rehire them as contractors. It’s way better to see where you can offer your existing company, plus others in the industry, more value and to promote your own ideas.
This was a great case study and I’m glad that it worked out for BL, Matthew.
Karen´s last [type] ..Happy Canada Day-
I know a few people that have done work for large companies even though they were self-employed or contracted by an employment agency. It seems like that’s becoming a fairly popular trend among people that choose to work for themselves, and it also benefits the large company because they no longer have to pay for benefits such as health insurance (Joshua already mentioned this in his comment.)
I also think that most of us really do have “connections” out there even though initially it may seem like we don’t know anyone. Word of mouth is a great free source of advertisement, particularly if you have a local customer base.
Steve Scott Site´s last [type] ..The Secrets to Long-Term Blogging Success Part 11
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