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7 Things I Will Never Have as a Business Owner

7 Things I Will Never Have as a Business Owner

While there are many advantages to being your own boss, there are also certain things you may never experience again (for the most part). Depending upon how you look at it, this could be a win-win scenario. Either way, now six years into running my own business, I’ve realized that there are a few things I will likely never have as a business owner.

A Day Completely Free From Work

The upside to running my own business, I can work from anywhere. The downside, I can work from anywhere. For this reason, my work followers me anywhere I have internet access. And even without internet access, it’s still on my mind. I’m not likely to ever go completely “offline” for more than a day, but that’s because I prefer to stay on top of my work and grow my business. When you’re passionate about what you do, you’re not always craving that next vacation!

Limited Vacation Days

Speaking of vacation, I can time off whenever I feel like it and as often as I want to. It still holds true that my work will be something I carry with me, but I doubt anyone feels too sorry when I’m checking emails from the Bahamas. Being a business owner is about balance. I can take unlimited vacation days, but I’m still responsible for delivering what I promised to my clients. Time management is key.

A Tax Return

I gave up hope a long time ago that I would ever see a tax return. As a business owner, I pay not only at tax time, but I pay quarterly throughout the year leading up to it. It’s important to point out that my clients don’t withhold taxes in their payments, so it’s strictly on me to make sure I am paying the fair and appropriate amount of taxes based on my income. Similar to having unlimited vacation days, I don’t expect anyone to feel bad for my tax situation. After all, if I’m paying more it means I’m earning more. But I have to laugh at the commercials that suggest I use my tax return for this or that. It’s been nearly a decade since the IRS wrote me a check.

Normal Work Hours

For better – and worse – I don’t have set “normal” work hours. It works out for the most part that I’m in front of my computer between 9 and 4, but there will be times I’m taking a 8pm conference call or I’m online at 6am to clean up my inbox. On the upside, I can also go offline for a couple hours in the morning to get in a work out, or in the afternoon to catch a nap. I’m so far removed from the concept of a 9-5 job that I doubt I would last long in that work environment again.

A Fixed Income

As a business owner, my income is anything but fixed. I have a meager paycheck I receive each month from my business for tax purposes, but I also receive distributions throughout the year however I see fit. Every year and every month, my income is up to me. I have to constantly and consistently satisfy my current clients and keep my pipeline full of new clients. In a crazy scenario, every client could decide to discontinue their services and I would be left at square one. On the flip side (and the more common scenario), I take on additional clients each month and grow my income.

It’s not common that many people can increase their monthly “salary” by a couple thousand dollars in a month by providing the same services they’re already providing to others. For this reason and many others, I love owning a business, and owning my income.

Someone Else Controlling My Schedule

Because no single client owns 100% of my time, they do not have control of my schedule. I remember my life prior to entrepreneurship where I would have someone slap a meeting or conference call on my schedule and so long as it was during normal work hours I had no leverage to push back. I had to stop whatever I was doing to be there. Now, when a client requests a meeting, they provide me with several options and I have the ability to select what works best for me. If I can’t make a meeting, my clients don’t know if it’s because of a work conflict or a hair appointment (or more commonly it doesn’t work with my toddler’s nap schedule). I control my own schedule and strategically plan my days to be efficient and convenient.

A Boring Day

As a business owner, there is no such thing as a boring day. Often the excitement comes from exceeding a client’s expectation or receiving a great lead for new business. Other times, “excitement” is the rush of an emergency or crisis that you have to resolve. Even if I carve a free afternoon to go offline from work, I’m not strapped to my office. I can run errands, do something relaxing or spend time with my kids. Every day and every email is different. The hours fly by and I wouldn’t ever want to return to the days of watching the clock!

Are you a business owner? Can you relate to some of the things I’ve mentioned or do you have an idea of your own to add? Share your thoughts by leaving a comment!

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Posted by on September 11, 2017 in Business & Success, Entrepreneurship, Life

 

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What No One Tells You About a Career in Public Relations

Businesswoman sitting in boardroom with laptop looking frustrate

Beyond earning a degree in Public Relations and pursuing a few internships along the way, the best thing to prepare you for a career in PR is real life experience. Unfortunately, this also means there will be a lot of learning and adjusting as you go. As I approach my seventh year working in the industry, I may still be “green” in many ways, but I’ve gained a lot of knowledge and know-how that simply can’t be gained by sitting in a classroom.

Here’s what I’ve learned about a career in Public Relations that no teacher or text book will tell you. Take a look!

You will have to explain to people, often, what exactly it is you do

The TV show Sex and the City may be to blame for the myths and false assumptions about Public Relations. I promise, we don’t schmooze at publicity events and drink all day. I think everyone would pursue a career in PR if that were the case. Again and again you will find yourself having to define and defend what it is you do and the value it provides. The good news is you’ll establish a solid pitch that will serve to win over your clients.

You will be referred to as “marketing” again and again

I make it very clear that the services I provide are Public Relations, yet I’m often referred to by clients as their “marketing person.” While marketing and PR serve to very different purposes within a business, I can see why they’re often lumped into one broad category. At the end of the day, I really don’t care if someone refers to my role as marketing, publicity or business development. So long as we are on the same page with our strategy and deliverables, we’ll get along just fine!

People will expect guaranteed media placement for everything you pitch

In this industry, you will find that some clients are “press release happy” where they think everything the business does deserves media placement. Even when something newsworthy does come up, issuing a press release is by no means a guarantee that it will be picked up by the media. We know that, but we often need to manage client expectations. At the end of the day, the media will determine the fate of your news. Which brings me to…

The success of your strategy will be at the mercy of a lot of other people

The reality of Public Relations is that there will be many elements of your strategy which simply aren’t in your control. You will need to do everything within your control to set yourself up for the best possible outcomes, but at the end of the day you are at the mercy of the media, the community, your clients timely responses and approval, the weather (I’m not kidding) and a variety of other elements you can’t even predict until they hit you over the head unexpectedly.

You will get to see your work impacting the world

Finally, and most encouraging, is the truth that a career in PR allows you to see your work changing the world. Piece by piece, your PR strategy will cause a ripple effect that will change public perception, grow businesses, help the community and much more. When Public Relations does what it’s intended to do, it’s a powerful and beautiful thing!

Do you work in Public Relations? What “truth” of the industry did you find most surprising? Leave a comment!

 
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Posted by on August 21, 2017 in Business & Success, Life

 

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What I Learned From My Accident

Bandaging armAbout a week ago I was out for a morning run. This is pretty routine for me as I love starting my day with some form of physical activity. However, this particular run would be anything but a routine experience.

About half way into my 10k, I tripped and fell just about face first onto the cement. After I regained my bearings, I assessed my injuries – two skinned knees that were already starting to bruise, a banged up elbow and a bruised and scraped chin that was beginning to swell. My right wrist was tingly and sore, but I figured I got off pretty easy considering the intensity of the fall. I made the decision to finish my run, battle scars and all.

It wasn’t until I was in the shower did I realize something about my wrist was definitely not right. It couldn’t bear weight and just hung there. I had to compensate with my left hand for just about everything. Okay, I thought, let’s see how the morning goes and I’ll decide if I want to put myself through the additional suffering of an urgent care experience.

I managed to get myself dressed, make breakfast, shoot off a few emails and head to a client meeting. By the end of this meeting, my elbow and wrist were swollen with fluid and things were getting worse, fast. I knew urgent care was inevitable, so after spending two and half hours of my time (and who knows what the bill will be), I was told I fortunately didn’t break any bones, but badly sprained my right wrist and elbow. With my arm in a sling, I got myself home and called it a day. By this point my fingers were ice cold and it hurt to move my arm the slightest. This was the worst it could get, right?

Friday night was horrific. Little to no sleep due to the dull pain and inability to get comfortable in any position. By the morning, my arm was at its worst and so were my emotions. How will I cook breakfast for the kids? How will I make the bed? How will I dress myself? How will I change a diaper? How will I do anything?

I am fortunate to have a loving and patient husband who calmed my panic and quickly stepped into action. Over the next days of healing, there were life lessons to be learned. As much as I was inconvenienced by this injury, something tells me God was giving me a crash course in some wisdom I needed to gain. Here is what I learned…

Things may get worse before they get better.

I was foolish to think the extent of my injuries were what I felt immediately after my fall. My body was in shock and still responding to the trauma. Rather, about 24 hours later the real effects set in. Bruises had developed, swelling took place and the pain was at its height. I was so discouraged to wake up the next day to find I wasn’t yet on the road to recovery. Healing takes time and so does the hurt. Things have to settle in before you can respond, and this applies to emotional hurt too. Too often, we are quick to respond to a traumatic situation when really we need to be still and process all that’s going on before taking the next step.

When you need someone to help, let them do it their way.

My husband made my healing process possible. Had I been left to care for my young sons (and myself) with a sprained right arm, I don’t know how it would happen. I couldn’t do much for myself, let alone anyone else. He assumed all chores and became my caregiver too. He washed my face and attempted his best to put my hair in a pony tail (a picture of that will NOT be shared).

There were several times I got overwhelmed by my inability to help around the house. While my husband was taking care of all the chores, he wasn’t doing things the way I would do them. In a moment of wisdom he told me “I’m going to take care of things, but they might not get done the way you would do them.” He was right and it was unfair for me to demand my methods over his. I learned to let go and in doing so, he was empowered to do things he doesn’t normally do. From this experience, I think I’ll do a better job of letting him help with more of the tasks that I needlessly stack on my plate.

You can’t do it all, but you can still do something.

In cleaning up breakfast on Saturday, I could see a laundry list of tasks that needed our attention. There were dishes in the sink, the countertops needed wiped down and there were crumbs on the floor that needed swept up. Usually I would tackle these while my husband was changing the kids and making their beds. But in this moment I felt helpless and frustrated. I started to see what I could accomplish with one hand. Amazingly, I was pretty good at cleaning the countertops and sweeping the floors left-handed. Being able to accomplish even these small tasks lifted my spirits, made me feel empowered and gave me hope that very soon things will start to feel “normal” again.

Look on the bright side, because there is always a bright side.

As I kept replaying my fall in my mind, and as I had to explain the story to my concerned friends and neighbors who saw my injuries, I realized time and time again just how much worse it could have been! Foremost, thank God for no broken bones. At first glance, urgent care thought I would surely need a cast over my elbow. Imagine the inconvenience of that! Next, I feel fortunate, given the major bruise to my chin, that I didn’t break a single tooth or completely crack my chin open. Finally, I’m grateful that of all the many, many runs I have been on, to date this is the only one that “tripped” me up. There are so many people every day who are in horrific, permanently life-changing accidents. Who am I to feel sorry? I feel lucky!

It’s won’t be like this forever.                            

As I quickly regained strength in my arm, the most significant being in the first 48 hours, I realized I’m going to be back to good health in about one week. While those days of pain and healing were significant, they are the smallest blip in the overall timeline of my life. Yes I’ll surely have other injuries in the future, but I hope I will remember this important life lesson – that whatever you’re going through right now feels like the biggest and most challenging thing in your life (maybe it is), but when it’s over, the years to come will fade and soften this memory with things far brighter.

Has life ever thrown you a major curve ball? How did you respond and what were some of the lessons you learned? Please share your wisdom!

 

 
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Posted by on July 31, 2017 in Freshly Pressed, Life

 

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How to Fix America’s Broke and Broken Healthcare System (Guest Blog by Kent Anthony)

The following post comes to us from Kent Anthony, president of Anthony Insurance, who writes this article based upon his 40 years of experience in the insurance industry.


broken glassI am a small business owner and employer. My expertise is in the Property/Casualty Insurance field, but, I am also licensed in Life and Health Insurance. Not a week goes by that I don’t get a call from someone that asks for a good Health Insurance plan that is affordable. Sounds simple, right? What if that elusive question has no answer? What do I tell people who trust me and need my help? Who has the answers? Government? Private Industry?

I read a recent Pew Research study that indicated 60% of Americans said that the government has a responsibility to ensure that every resident of the United States has health care. That means to me that the majority of Americans feel it is a “right” to have the coverage. It also means, I think, that they feel that private industry is ripping people off by not giving them what they want – free, unlimited coverage.

Reality check, people: Our founding fathers set up a system of checks and balances that requires compromise in order to get laws passed. What is “broke” is that there seems to be no such thing as any type of compromise today. If it is a Democratic plan, the Republicans hate it and vice versa. To complicate things further, factions within each party make compromise impossible as they all have to have it their own way. Obamacare is a perfect example. Mitt Romney, a republican who ran for President, essentially set up the same program as Governor of the State of Massachusetts. If Mitt had been elected, I am firmly convinced that the Democrats would have been against his health care plan on political “principal” alone. National organizations, such as AARP, the AMA, Drug Companies and all of the affiliated Hospital organizations, unions of all types, you name it… force the political process to grind to a halt when they exercise their influences. They all want it their own way.

Second reality check: This stuff isn’t free. I am amazed by how many people honestly think a magic wand can be waived and that we can just pass the bills off to the “rich people.” Maybe the rich people are tired of the “jam it to the rich,” class warfare or socialistic approach to their wallets. They have tremendous political influence. Are they ready to allow themselves to pay more?

Last reality check: Obamacare was designed to fail. Whether you think it is a good or bad program, there simply isn’t any funding to pay for it. It was designed to get something in place and worry about who and how it would be paid for later. Private industry was promised reimbursement by the federal government for their losses for the first 3 years if they participated, knowing that the worst health risks would be signing up right away. The last statistic I read is that they have only been reimbursed 12.3% of what they are owed! No wonder they are bailing out of the program.

What are “fair” answers?

Compromise has to be obtained for a lasting solution. Everyone has to participate; no opt outs. All Americans have to be enrolled and pay something. Insurance, whether it is car, home, business is about spread of risk. The healthy young, the poor, the rich…everyone has to pitch in to pay. The Heritage Foundation calls it “individual responsibility.” By having people pay something we may be able to end the cycle of entitlement. We can’t have people thinking everything is “free.” It isn’t. Actuarial tables exist that show what people should pay. Subsidize disadvantaged groups if necessary, but make them pay something.

Allow the health system the legal ability to negotiate costs of drugs, hospitalization, etc. We have cost control right now in Pennsylvania for auto, medical billings and workers compensation payments. Prior to those controls, the billings were totally out of control. This has to be in place or any system will spiral out of control. I have read that doing this will lower costs 30-60%. We have to make premiums affordable and save taxpayers on Medicare programs.

Finally, I would love the healthcare industry to be mostly privatized. We have seen how government gets too tied up in politics, crippling the system. I have to point to the inadequacies, bureaucracy and cost overruns of Medicare to make a simple point: Is Government really able to run anything the way the American people need it done? Allow free and open competition, with cost controls, and you will see a system that innovates and provides incentives to be better, rather than bloated bureaucracies that are too subject to politics to provide the services that the American people want and deserve.

What has been your personal experience with health care? Do you have an opinion on how we can improve things? Share your ideas by leaving a comment!

Kent AnthonyAbout the Author: Kent Anthony is president of Anthony Insurance, an independent insurance agency headquartered in Lewisberry, Pennsylvania. Kent has more than 40 years of experience working in the insurance industry, specializing in both personal and business insurance. Learn more about Anthony Insurance by visiting them at www.anthonyinsuranceinc.com.

 

 

 

 
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Posted by on July 24, 2017 in Guest Blogger, Life

 

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7 Tips to Stop Procrastination

Woman in computer room with feet up thinking

It’s funny how procrastination works. It feeds upon insecurities, negativity and frustration. Procrastination quite literally makes mountains of molehills. Would you believe I found myself procrastinating writing this very article? Sometimes writing comes easy to me, other times I am distracted by something as small as dust floating by.

I don’t think there is one person who hasn’t experienced procrastination at some point in their life. This inspired me to share a few tips I often use to stop procrastination and to start getting things done. Here they are!

Be realistic with your time

One of the biggest reasons why people procrastinate is because they underestimate the time it will take to complete a task. They lead themselves to believe it will only take an hour or two, when realistically it’s an all-day assignment. In return, this causes you to become overwhelmed by and frustrated with the task at hand. Be realistic with the time it will really take. Maybe it is a 3-day project, but knowing that will allow you to properly manage expectations and to get in the zone to get it done.

Choose a smart work environment

Another good piece of advice to stop procrastination is to pick the right work environment. This will depend upon your personality, so think about the setting where you tend to get the most, uninterrupted work done. For me, this is a calm and completely silent setting. There’s no background noise, the lights are dim and there are no other people. Did I mention I’m an introvert? This isn’t ideal for everyone. I know a lot of people who can’t work when it’s silent. They actually need background noise, bright lights and other people to drive their energy. To each their own! Learn what works for you and replicate that work environment the best you can when you need to get in the zone.

Put it on your calendar

Next, pick a specific day and time that you plan to tackle the seemingly insurmountable project and put it on your calendar. Block out time that you can dedicate solely to this task and make it a commitment. If you can treat a project like a meeting or conference call, meaning you don’t schedule something else during this time and you show up on time, you will have a far better shot at knocking it out in one fail swoop.

Start your day with the hardest task

I’ve written about “eating a frog” for breakfast, and by that I mean taking your least favorite task of the day and getting it done first. Why? First, it ensures it gets done even if nothing else does. Second, once you tackle the thing you’re looking forward to least, everything else seems easy. By starting your day with the hardest task, you’ll go on to conquer the world!

Shut out distractions

When it’s really crunch time and you need to get something done, don’t allow any distractions to interfere. For some people, this may mean burying your phone under a heap of laundry and turning off your computer’s wifi. You may even need to leave the office and head outside or to a library just to avoid phone calls and small talk. Procrastination will make everything in the world, but the task at hand, a welcome distraction, unless you make an effort to shut it out. Don’t rely on your own self-control; do what you can to eliminate even the potential for distraction.

Set mini deadlines

If you’re task is exceptionally large, you may need to set mini deadlines to make it less daunting. Section it out so that you create smaller tasks that build upon each other to get you to the finish line. This also gives you obvious breaking points so that you can step away, refresh your mind and come back with a renewed focus.

Get excited about it

Finally, change your frame of mind about the task. You’re likely procrastinating because you’re intimidated by the task or you just really don’t want to do it. Dig deep and put a positive spin on it, even if the only positive is that it will be off your shoulders. Convince yourself that you’re going to knock it out of the park. Get excited for the finished product and the sense of accomplishment you will soon feel. A little positive self-talk will go a long way toward breaking through that procrastination!

Have you fallen victim to procrastination? Share the tips you’ve used to overcome it!

 
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Posted by on July 17, 2017 in Business & Success, Life

 

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7 Mistakes that Push Away New Business

7 Mistakes that Push Away New Business

When you’re fortunate to have new business come knocking at your door, it’s still far from a done deal. Winning over a client takes time, patience and strategy. In my industry, things always begin with an initial client phone call or an in-person meeting. This casual, first meeting is the opportunity for both parties to feel each other out. Do our visions and values align? Do we share realistic expectations for what can be accomplished with the given budget and time frame? Most importantly, is there chemistry? No, nothing romantic, just a good synergy that will help create a productive working relationship.

Even if all of these things appear to be on target, there are still quite a few ways in which I can push away this new business, if I’m not careful. While the ability to read a client and build a strong connection from the start isn’t something you can necessarily teach, there are a few obvious mistakes you should avoid when trying to win over a new client. Save yourself some future regret but taking note of the next seven items on this list!

  1. Being unresponsive

The first mistake you can make is to be anything but highly responsive to your prospective client. This is the first impression you make. If they call you to learn more about your services, respond to them same day. Even if you’re not able to connect by phone, the least you can do is email them to set up a time for a future phone call or meeting. Carry this level of responsiveness into every phase of working with this client. Chronically late responses are a red flag to the client that you may not be the easiest person work with.

  1. Acting like you have all the answers

In your first client meeting, don’t come in there like you have all the answers. You don’t. You’re meeting this client for the first time and you likely know little about the industry and nothing about their business (more than a website and social media can tell you). I know in my case, people call me in because there are serious internal problems taking place. This is something you can’t know simply by Googling them. Come ready to listen, take notes and ask questions.

  1. Lacking examples of your insight and experiences

While you don’t want to come in acting like you know everything about the client’s particular business, you do want to walk in ready to prove your knowledge and expertise. Offer plenty of examples of past client success stories that relate to the services you may provide to this new client. Real-world examples are not only powerful, they are memorable. Additionally, be prepared to offer some examples of new ideas you have, tailored to the client’s needs. Make them feel like you’re offering fresh solutions and not something canned that you provide to every client.

  1. Pushing a client toward a final decision in your first meeting

Let the first meeting be a no-pressure zone. If you do a good job selling yourself, there is no need to pressure a new client into making a final decision as to whether they want to work with you right then and there. In fact, it’s likely going to be in your favor to have them sleep on the ideas you presented and to get even more excited about them! Don’t be so desperate to close the deal that you end up closing the door on yourself.

  1. Leaving the first meeting with no action plan

Just because you’re not going to pressure the new client into a final decision doesn’t mean you can’t have a clear path for the next steps you will take toward that final decision. You need to leave the meeting with an action plan in place. If possible, leave with the ball in your court. That means it’s on you to get the client a proposal or follow-up with additional information to help them make a decision. This gives you the power to reach out to them on your terms, rather than waiting to hear back from the client.

  1. Not following-up

This loops back to mistake number one and the need to be responsive. Just as it’s important to be responsive, it’s equally important to initiate a response. Give the client some space after your first meeting and after you’ve provided them with a proposal and an outline of next steps. Then, about one week later (or if they specified how much time they need), follow-up! Keep it short and sincere. Ask them if they have any additional questions you can answer. Or if a new idea has come to you, share that with them – along with your enthusiasm for working with them soon. These techniques enable you to stay in touch without nagging them.

  1. Charging a new client for your business development time

Another mistake that pushes away new business is charging for things like your first consultation meeting, putting together a proposal or any other initial communications. If you’re properly vetting your leads, you should be closing just about every new client meeting you take. Your time spent in business development stands to yield far more profit in the long-run than the couple hundred dollars you may make charging your client for every interaction. Furthermore, the practice of nickel and diming a client is sure to make them question your business practices and possibly scare them off altogether. Do your homework, qualify your leads and then invest that initial time at no cost, knowing you have a great shot at making it back ten-fold!

Have you made any of these same mistakes and found that it pushed away new business? Or can you think of something else that is missing from this list? Share your ideas by leaving a comment below!

 

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Book Smart vs. Street Smart: What I’ve Learned about PR Outside the Classroom

Qualified specialist

While I was earning my degrees in public relations and communication from Penn State University, I was already putting these skills into practice for some of my first clients. It’s amazing to look back and realize that real businesses put their trust in a young student who had really just “book smart” PR skills, and little to no real-life application. What’s even more amazing, is some of these very first clients continue to work with me to this day.

Now, I have matched and well exceed the length of that college education with “street smart” PR experience. Over the last six years, I continue to place a high value on forever educating myself on the latest trends and techniques in the public relations field. This just happens to come in a different form than a brick-and-mortar classroom. From networking groups and industry associations, to simply staying up to date on the news, it takes dedication and a hunger to learn, not just degrees upon degrees, to fine tune your PR skills.

Here are the key public relations skills I’ve gained since leaving the classroom and entering the real world, and I would consider all of these to be critical to the success of my PR consulting business!

Prospecting and Qualifying Clients

Early in my business, I would take on pretty much any client who came my way. I kind of had to. I have no idea how to prospect or qualify these contacts to ensure they would be a good fit for my business. This wasn’t something I was taught in my PR classes. I learned how to develop goals and tactics for clients, once I had them, but I wasn’t taught the important early steps like first matching a client’s needs with my services.

I’ve become very “street smart” with qualifying leads. I don’t immediately commit to a meeting or even a phone call until I’ve done a bit of homework and asked some essential questions. This has saved me a lot of billable work hours, and has afforded me a few more afternoon naps.

Growing Long-Term Relationships

Another valuable skill not found in textbooks is the ability to turn one-time projects into quarterly or annual retainers. This has become my bread and butter. Just about every single client that has started off with a small or finite project (website content, monthly blogs, media training session) has come back to then sign on with an ongoing contract worth sometimes 10x more per month than that first contract. The key to setting yourself up for residual business with a client is handling that initial project, no matter how small, with the same passion and dedication you would handle your biggest annual retainer. Often a client is testing you to see if you’re a good fit for a long-term relationship. Don’t fail this test!

Effectively Managing Payments

In the first half of 2017 alone, I’ve billed 25+ clients, many on a monthly or quarterly basis. That’s a lot of invoices to manage! My (oddly reluctant) switch to using QuickBooks couldn’t have come at a better time. Rather than relying on a spreadsheet, or worse, a post-it note on my computer, I diligently log everything into QuickBooks. Invoicing is still a process I must make time to do, but it’s a much more streamlined one. I can see what clients owe me money at any time and how many days has passed since issuing the invoice. My husband jokes I could be a bounty hunter in my next life. And to my tax attorney, you’re welcome in advance!

Monetizing “Scope Creep”

This skill ties back to “growing long-term relationships.” It’s a good thing my clients often come to me for more work! However, it can go south when these clients don’t realize the additional work requires additional time and needs to be billed as such. Fresh out of college, I lacked the business savvy to monetize the “scope creep” of a project. I would bill it as “good will” and do the work without earning an extra cent. I still believe in some good will favors, but I only have a certain amount of good will to pour into any given client.

Rather, I am quick to show my interest in taking on this additional work for a client and let them know upfront that I would be happy to give them a proposal for that additional work. This softly reminds them that the work they’re asking to have completed is outside their current contact. I can do it, but for a fee. I have not once had a bad reaction. Clients often respond “Oh of course, I want to pay you for your additional work.” I’m so glad I’m not still losing money on all that good will I was throwing around!

Knowing When to Let Go

Knowing when to cut ties with a client that is no longer a good fit for your business was never covered in any of my PR textbooks, that’s for sure! This is a skill I am still learning along that way, and unfortunately it still remains a pretty steep learning curve. Because of my ability to prospect and qualify clients, I have reduced the need to let a client go, but it has and still will happen from time to time.

What I’ve learned is, make it about you, not them. Don’t focus on their shortcomings, as tempting as it may be, but rather focus on why your business isn’t in a position to best serve them. Be upfront, keep it short and do it early! Those are my pearls of wisdom.

Having Confidence in a Unique Vision

Lastly, the ability to believe in yourself and not compare your journey against someone else’s is something I 100% had to learn outside of the classroom. This applies to both business and life. I am passionate about being a PR consultant. I don’t want a big firm with lots of employees and overhead. I want the complete freedom and flexibility to take on all of my own clients, team up with power partners when I need it, or run a completely lean operation when I don’t. I want to take unlimited vacation days and hit the gym at 2 in the afternoon, if I want!

I like that no client or colleague owns my time completely. I have a unique business model to which many cannot relate. It’s taken time for me to confidently say “I’m a professional public relations consultant” without feeling the need to hide behind a fictitious and irrelevant title like “CEO” or “Principal” to make it sound like a run a big firm. After all, I advocate for my clients to be transparent and genuine; it’s important I am too.

In your career, how would you compare your book smarts to your street smarts? Which do you value more? Share your thoughts by leaving a comment!

 
 

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