5 Reasons You Don't Want to be a Freelancer

I'm notorious for telling people that they should switch over to the "independent worker" side. I talk about the importance of freedom in your work. I talk about being able to call the shots on who you do and don't work with. So, why am I writing this post?

The plain and simple answer is that I want you to know the truth, the whole truth, and nothing but the truth about freelancing. Part of my responsibility is to make sure that you are prepared for the world you're about to enter. That means, you need to know the good and the bad. You then have to weigh them both against your own personal situation. I can tell you all day that working independently is the route to go, but that's just my two cents. This isn't the best route for everyone...

Most (if not all) successful businesses exist because there is an employee or team of employees that stands behind the brand to make it work. These people are paid some sort of salary in return for the work they do. They may be paid by the hour, by the day, or by the month. The point is, they are on the payroll. They may have some fringe benefits like paid vacation, 401k, pension, health insurance, etc. They are comfortable working each day as much as needed to earn their set salary (with some positions providing performance-based incentives, like commissions). The employees of the business an an important asset - or resource, if you will. There needs to be people who will do these jobs. It's the way of capitalism (or some other -ism, honestly I'm not in the mood to look it up). Some people work for other people all their lives while others have other people working for them. In between, there are a few who work alone.

That said - the work that you do as an employee is important. As a matter of fact, you are such an essential part of your business that you may not be paid for all of the vital work that you do. But, that's not the point of today's post...

Here are the top 5 reasons that you may want to continue working as an employee as opposed to an independent:

1. You are bad with time. Managing your time well is a skill that can take many independent workers years to learn. If a worker usually works at night, they may have a problem with managing their time. They usually feel that there are not enough hours in the day so their work extends into the evening. Of course, there are others who just prefer to work at night. That's not the people I'm talking about.
2. You are bad with money. You have to be able to save for taxes. It's a must. If you can't save for an entire year, you can pay quarterly, but that still requires at least 3 months of saving. Take it from me, it is no fun to scramble to pay your taxes at the last minute (or worse yet - get on a payment plan with the IRS).
3. You don't have any money saved. Independent workers (like anyone else) need an emergency fund. You must be able to "float" your household as you get started and may not have as much income as you will down the line.
4. You have health issues. Health insurance is expensive. REALLY expensive. It crosses the southern border into EXTREMELY expensive when you have some sort of pre-existing condition on top of that. Employers have group health insurance plans that often don't come with the same pre-existing condition limitations and are certainly not as expensive.
5. You don't work well in isolation. As an independent worker, you may be spending a lot of time on your own. The good news is that there are coworking spaces scattered throughout the entire United States. These are great ways to avoid seclusion, but they aren't without their own costs.

Can you think of any other reasons why an individual wouldn't want to be a freelancer/independent worker?

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Top 5 Ways to Passively Turn Your Target Market Into Your Clients

A few days ago, I talked about the importance of diversifying your income. If you aren't lucky enough to have piles of passive income flowing into your bank account every month, you most likely will need to find clients for your freelance business.

Some freelancers think that this is one of the greatest challenges when it comes to building a successful empire. I think it's quite the contrary. The most challenging part of running your business is keeping your clients. Anyone can impress someone at first glance and sign a new deal. It's what you do AFTER you sign that client that counts. But, I digress...

Getting clients is often as simple as thinking outside the box. There are some prerequisites, though:

1. You should know who your ideal client is. Let's face it, not everyone wants your service, and that's a good thing. After all, there's not that much of you to go around. You want to make sure you still have time for the things you need to do to keep your business thriving.
2. You should know what your clients like. Do they like roses? Boxes of candy? Those weren't real examples, but you want to make sure that you approach your client in the right way. You wouldn't want to take a church friend to a rock and roll concert. Your clients are the same. They are individuals and deserve individualized offerings.
3. You must know how to speak your client's language. That's right - I mean Jargon. People love to talk Jargon in every industry. Outsiders are often left with a strange look on their face. Think I'm joking? Ask any non-SEO person what "link juice" is. :-)

After you get those "pre-reqs" out of the way, you can move on to actually bringing clients into your business.

So, how do you passively change these people from your target market to a client? It's relatively simple.

1. Be patient. It can take time to sign a client - maybe even a year or more. The more patient and persistent you are, the more likely the client will consider you when you're ready.
2. Create "free" solutions to common problems in their industry. Webinars and teleseminars usually do an effective job at helping with these sorts of things. However, you can also use tools like eBooks, whitepapers, etc. As long as it's free, you are being helpful and when they are ready to spend the money, they will count on you for help.
3. Talk to them. Don't just talk to them when you're trying to make a sale, and don't lose contact with them when you realize that you didn't make the sale. You never know how their situtation will change, and you can be the first one there whenever they are looking for a service provider in the future.
4. Teach them something. If you can show someone how to use Facebook in 5 minutes or less, you will have a line a mile long and filled with people who are interested in this "free" social media service. As more and more people sign up, you'll have even more people to add to your content list.
5. Hang out where they hang out. Are they active in the Rotary Club, Chamber of Commerce, etc.? If so, you may want to check into becoming a member. More often than not, the business contacts you gain are well worth the membership fees required to join.

What other tips do you have for passively obtaining new clients?

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Am I An Employee or Independent Contractor?

Are you an employee or independent contractor? You can find out for sure in the paperwork that a client should be providing upon offering you the opportunity.

Before a client "hires" you for an opportunity, they may provide an independent contractor agreement. Some organizations have really short forms (1-2 pages) while others have longer forms. There's really no right or wrong way to do it, but essentially this document outlines both your and the company's responsibility for the duration of your working relationship.

So, what can you expect from this agreement?

In most cases, it will begin with something like this:

This Agreement is made this _____ (Day) day of _______________(Month), __________ (Year), by and between ___________________________________________ (Company),

hereinafter referred to as “Company,” and ___________________________________________ (Worker), hereinafter

referred to as “Contractor”

That part is pretty self-explanatory. It outlines who is who and you can easily scroll through the document and see what the role is for the COMPANY and what the role is for the CONTRACTOR.

Much of the rest of the agreement is dependent on how specific the company is. When thinking about whether you will really be an employee or an independent contractor, here are some common things to make sure of:

• Your work with others is not limited. Non-compete clauses have no place in contractor/company relationships.
• You are allowed to choose the way you do the work as long as it meets the company's expectations. That means - if they want you to create materials for their website, they cannot tell you that you must use a specific program or work at certain hours of the day.
• You don't have to be supervised. This doesn't mean that the company doesn't have a right to review your work for quality, but rather the company cannot impose a restriction to watch over you during your entire workday (i.e. they can't tell you that you can't get on Facebook or can only take breaks at specified times).
• Taxes are not deducted from your payment. As an independent worker, you are responsible for paying your own income taxes. Along with health insurance concerns, this is one of the downsides to freelancing.

The IRS discusses (in detail) what separates an employee/employer relationship from a contractor/company relationship. It's important to make sure that you are not being treated as an employee as that would require your client to pay certain other taxes (Medicare & Social Security). For both you and the client's sake, the relationship should be clearly defined. If they need significant control over your work, you're not a contractor.

I worked for a company before (I won't mention the name) in a virtual call center. I was considered an independent contractor, but they had many "rules" for how the work must be done. Long story short, there ended up being a large class action lawsuit against them for misclassifying workers all around the country. The company lost. They had to pay a substantial amount plus damages. I opted out of the lawsuit, but I think this is a good example of how simply calling a common law employee (term coined by the IRS) an independent contractor.

People: know the law. Know your facts. You are a freelancer. Bask in the true joy of freedom while working.

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Passive Income: The Sexiest Freelance Income

A little bit ago, I talked about the importance of diversifying your income. I can't stress the importance of this. As an independent worker, you should never feel forced to rely on a single stream of income. If you do, you may as well have remained chained to your old 9-5.

The beauty of working independently is that you can do all kinds of stuff. If you want to dabble in a variety of different projects, you can. Your clients typically cannot set any unfair non-compete clauses on you. If they do, I'd probably suggest that you run far away. Why? Because you are not their employee. Non-compete agreements seem too much like employment. Stay far, far away...

I digress, one cool way to diversify your income is to get into creating passive income. What is passive income, you say? It's income that you earn with little to no future effort. For example, if you create a training seminar and sell it online, you likely won't have to do much with it after the fact, but you will continue to earn money as it sells. That's like earning money while you sleep. That's sexy.

One of the goals I announced was to work on earning at least $500 per month in passive income each month by the start of October. How do I plan to do this? One way is through this blog, but I know that blogging for money is a long-term thing, so I can't wholly rely on that. I haven't quite had a chance to really think through what else I can do to earn passively, but I will keep you all updated here. I will likely look into creating some product specifically related to freelancing and start selling it. Again, I'm not sure.

I've been listening to a few podcasts and consistently reading Pat Flynn's blog (he talks about earning smart passive income). He is an advisor and mentor for many of us in the business blogging world - myself included. He is always very candid in everything that he posts - all the way down to him posting his monthly earnings.

I will no doubt be talking more about passive income, but I'd like to know, are you aiming to start earning (or increase) passive income this year? What are your goals? Let's keep each other on track...

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GIVEAWAY: Apple iPod Shuffle

I'm having a giveaway, and the rules are simple - connect with me and my online buddies for more and more chances to win!

The prize: an iPod shuffle
The deadline: 2/29/12 at 11:59 PM
How to enter: follow the steps below!

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The Importance of Diversification

Diversification isn't just a term for investments. As a matter of fact, the term extends into all areas of life - including business. As a freelancer, you've no doubt heard someone tell you that you "shouldn't put all of your eggs in one basket". Even if you aren't a freelancer, you've probably heard that saying before. As you begin to grow your business, it's important to introduce a variety of streams of income. Being too reliant on any one stream can be detrimental to your financial health.

Say for instance you are working with a particular client and are earning enough to maintain a decent living. That's great! But, what happens when things start to go south for that client and they need to cut back on the services they have hired your for or worse yet - they FIRE you?

If you've been keeping all of your eggs in a single basket, you won't be prepared for such a change. Your world will be turned upside down and your financial status will plummet. Dramatic changes, such as this, can send you right back on the job hunt, and we already discussed that you don't want to quit freelancing and go back to slave labor, so that won't work - at least not in terms of your long-term goals. So, what's the solution?

Since you can't rewind time (wouldn't it be neat if you could?), you have to refocus on the future, which can me getting a "real" job for just a bit as you sort out your finances and gradually bridge the gap back into freelancing. If you have a nest egg/emergency fund saved and can stay afloat for a little bit, it would be best to continue on in your search for additional clients.

The emphasis here is on the "s" at the end of that word. You must not settle for only one client, but should focus on having multiple clients. That way, you can be sure that you aren't as affected in the future. Again, let's not put all of our eggs in one basket. Diversify - have several clients in differing industries. That way, there's less opportunity for your work to become mundane and your make sure that if one industry "folds", you still have other clients that are still staying "afloat".

Do you have a diverse book of business or are you putting all of your eggs in one basket?

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3 Tips for Staying on Task

Photo Credit: Dan Brady

I was reading a post on Get Paid to Write Online, and one thing Jeanna said really stuck out to me:

"With all that needs to be done, you may find yourself jumping from one task to another. Not helpful. You’ll look up at the clock and see all kinds of time has passed while you’ve accomplished nothing. This then creates anxiety for you, which then leads to procrastination, which then leads to you not doing what you need to for your business, which ultimately leads your business to a bunch of nowhere if you don’t get back on track."

Read more: http://www.getpaidtowriteonline.com/manage-overwhelm-new-freelance-writer/#ixzz1lKRBDSA3 
Under Creative Commons License: Attribution Non-Commercial No Derivatives

This is my daily life. Really. Time management is an important skill to gain when you work with little or no supervision, and it's not my strong suit. It's something that I haven't yet conquered, and thus, my life is sometimes a bit chaotic. I start with good intentions of conquering it all, but I end up with nothing more than a few start/stops.

Like when I talked about income tax anxiety, I want to share with you some of my thoughts on what can help fix this situation and overall help you overcome the overwhelm that many new (and seasoned) freelancers face. I'm in the thick of it. It is very real, and no you are not alone.

Oh, and I hear you saying "how can you help someone else and you can't even help yourself?" And I answer that with because I can and because I want to. So there. *smile*

So, here are a few tips for staying on task:

1. Plan your tasks hour-by-hour. Your tasks should be planned in advance so that you can dedicate all of your time to that task. After your time is up, you should move to the next task (even if you aren't finished). Leave some "pad" time at the end so that you can finish up anything you didn't during the time allotted. You can also plan your tasks by half hours, quarter hours, or whatever works for you as far as time is concerned.
2. Schedule "fun breaks". When you work from home (especially if you are a freelancer), it's easy to get caught up in the hustle and bustle of working until your fingers bleed (hopefully that's not a literal statement in your case). If you don't set aside some time to have fun during the day, you will resent your work even more. 15-30 minutes is normally sufficient. This way your mind won't wonder to something you perceive as "more fun" when you're working on a more important task.
3. Use a task list. When you're working on your tasks for the day, you should make a list so that you can "scratch things off" when you complete them. It may sound a bit silly, but the mind likes the feeling of completion. Even if you aren't finished with all that you have to do for the day, it's good to be able to check a few things off the list as you go along. That will help fuel your productivity.

Have you heard that Marianne Williamson quote that tells us what "our deepest fear" is? That's pretty much spot on. We are not at all afraid of failing. On the contrary, we are afraid of people seeing is as a major success. It may sound silly, but your lack of good time management and procrastination is deeply rooted in being seen as the success that you are. It all goes back to another saying that goes something like this: "To whom much is given, much is required.". When you are given those praises, you have a certain "reputation" to live up to.

Do you have any other tips for staying on task?

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SMART Goal Progress - February 2012

How are you coming along with this year's goals?

I want to share with you how I'm coming along in my goals (there are seven of them), and I'd love to hear how you all are doing. After all - setting SMART goals is what keeps you thriving as a small business professional (freelancer).

Here are my goals (next to each one, I will update you on my current progress in bold):

1. Start earning at least $500 per month in passive income by the start of the 4th quarter (October 2011). Right now, I work for all of my money. I'm not paid on an hourly basis, but my income is a direct result of my effort each day. I love my work, and I still plan to work, but I also want to start earning money "in my sleep". I've earned $0.29 so far from the Adsense I'm running on this blog. I will have to see a trend over the next month to see whether that puts me on target (as far as growth). It seems pretty low initially, but my blog is growing leaps and bounds each day.
2. Post at least 10 comments per working day on new blogs. This allows for new blog discovery and helps others find my blog. Right now I am averaging about 2-3 comments per day. Some days are higher, but I haven't yet hit the goal of 10. I will strive toward this goal again over the next month.
3. Lose at least 50 pounds by December 31, 2012. Like anyone else, I have weight loss goals. These goals have previously been the form of a resolution, but now that I'm announcing something publicly, I should be better on track to reach it. I've lost 5 out of 50 pounds this month. If I lose the same amount of weight each month, I will be down 60 pounds by the end of the year. I'd say I'm pretty well on target with this.
4. Build an emergency fund of at least $2000. That may seem like chump change to most of you, but as of right now, I don't have any money saved. That would be a major deal for me. So far, I'm still sitting at $0. This isn't something that I've even worked toward, to be quite honest.
5. Grow this blog to receive at least 5,000 monthly page views. Again, this may seem like a small goal to most,  but I have nowhere near this right now. Over the past month, I've had 1,345 views. I'm not counting uniques - just views.. Maybe I should have set a higher goal - who knows? I'd say I'm on target for this.
6. Grow this blog to have at least 1,000 subscribers. Do you notice a recurring theme here? I think that big things come in small packages. (smile) As of this writing, I have six total subscribers on Feedburner. Someone has a long road ahead, but that's OK. I'm in it to win it!
7. Post to this blog at least every Monday, Wednesday, and Friday from now on and for the rest of the year. This is a big one. I can remain dedicated to this blog for a short time, but I always end up falling off the metaphorical wagon. This, of course, is important to achieve the two goals before it. I missed last Wednesday and Friday along with Monday (made up for it on Tuesday) because I was on vacation. Other than that, I have stuck to my schedule. I plan to be even more consistent going forward.

Well, that's how I'm coming along on my goals so far. Where do you stand? Let me know down in the comments...

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3 Tips to Overcome Tax Anxiety

I received my 1099 in the mail a few days ago, and it reminded me just how much I'm not looking forward to preparing my taxes this year. I'm in the habit of always preparing my own taxes, and am completely comfortable with it. That's not the problem. My fear is that I will owe money on income tax. That has me overly anxious about this upcoming filing. This is the first year where I have worked as a contractor all year long. Many of you have been doing this for years, but I'm just getting started.

The truth is - any anxiety I have is my own fault. That's right - I brought it all upon myself. Someone wise told me that the first step to overcoming a problem is admitting that you have a problem. Well, there. I have a problem that keeps me awake at night. It keeps me from focusing on being my best each day. I tread that ticking clock going for April 17, 2012. Each day I feel that January is passing too quickly.

Here are a few things I plan to implement to overcome tax anxiety:

1. Do something fun. Whenever you start thinking about your taxes, resolve to do something else fun (preferably something that doesn't cost any money). This will relax your mind and (at least temporarily) help re-focus your attention on something more positive.
2. Start organizing your receipts early. When you are prepared, your mind is much more at ease. This also goes back to my point on why schedules are important.
3. Just do it. That's Nike's slogan, but it's also very relevant to everyday life. The more time you spend being anxious about something, the more anxious you become. Get it out of the way so that you can focus your energy on more productive things.

I haven't yet made it to the "do it" stages yet, but I am in the planning stage. While it's true that I should have prepared for tax time much earlier, my mind is much more at ease knowing that things are coming together. 

Have you done your taxes yet? If not, what's stopping you? Anxiety? Procrastination? Something else? How do you plan to overcome tax anxiety?

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2 Words to Start Your Freelancing Career

Photo credit: Jonny Goldstein

You're fired.

That's right - those two little words can catapult you from the "safety" of your cubicle to the unemployment line and possibly onto the verge of freelancing. Is that a bad thing? Heavens no! While it may be unplanned and could send your finances through a temporary whirlwind, you will be able to get back on your feet.

That's right - even if you are unemployed right now and don't feel like you can find another job, you will be able to get back on your feet. The key is to keep yourself busy. Not everyone is meant to be a career freelancer, but even temporary freelancing can help a jobless individual keep their sanity.

Have those two words changed your professional life? Do share!

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3 Tips for Ending Client Relationships

There is a point where all things must come to an end. Maybe you've lost your passion and drive for the work you do and want to switch fields. Maybe you realized that you don't want to freelance anymore. Maybe you're fed up with your client. However you've come to this end point - the biggest thing is - you made the decision to end your working relationships with your current client(s). There's no need to beat yourself up about it. After all, you became a freelancer so that you do get to pick your clients and the projects your work on. If your mind changes, your business can change right along with it.

I've been in both shoes - as the freelancer ending the relationship and as the client who is losing a freelancer. On either side of the equation, this can be a stressful time for both parties - but more specifically for the client. You must remember that your client was counting on you for something. You may be the strings that holds their business together. We're talking about their livelihood - which is no joke.

Knowing that this situation can be particularly difficult to handle - how can you get through it? Keep these three pointers in mind:

1. Don't disappear. Of all the things you can do, don't just disappear into thin air. Give your client the respect they deserve and try to get a reasonable notice (2 weeks or so) so that they can find someone to replace you.
2. Don't forget the final deliverables. Try to write up/update any procedures so that your client can easily pass along your work to the next person.
3. Make recommendations. If you know someone who may be a good fit to step into your role, please let your client know. They will appreciate not needing to invest extra time searching for someone they feel comfortable with.

The most important thing to remember is that you want to make sure that you build a strong list of contacts that can vouch for your work or provide testimonials/references in the future. The quality of your network is even more important as a freelancer than as an employee. Clients will remember how you leave - so make it professional.

What are your tips for ending client relationships?

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I'm Blacked Out Today in Opposition of SOPA and PIPA

Image from http://sopastrike.com/strike/

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I'm Joining the Yakezie Challenge!

I am joining the Yakezie Challenge! The goal: grow this blog to be under 200,000 Alexa Traffic Rank. Here are my stats as of this post's writing:

What's more amazing is the power of the Yakezie network. On January 11 (the day I found Yakezie), here were my stats:

All I did is mention my site in one of the forums and visit a few other Challenger's sites. The motto of the network is "selflessly helping others". I'm amazed at all of the things that have come from this so far, and I'm proud to announce my participation in the challenge. 

I'm pretty busy with business today, so I will post more about Yakezie later on this week, but I wanted to share this with you, and I hope that you all follow in my journey to grow this blog!

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The One Surefire Way to Recoup from Backsliding on Your Goals

Start over.

Too many people waste time worrying about the fact that they didn't meet their goals. They then continue to miss their goals, and in the end, they forget what their goal was to begin with. This is a vicious cycle. At the end of the day, if you didn't meet your goal, don't cry about it. Vow to look forward and don't look back.

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Will You Quit Freelancing in 2012?

I was reading the 12 Must Read Freelancing Predictions for 2012 on Freelance Folder, and what I saw was very troubling. Believe it or not, some of you will quit freelancing in 2012. Some of you will simply give up. I thought about that, and I know that I cannot let that happen. I cannot let you go back to working in a cubicle for a salary. It may seem "safe" right now, but ultimately you are jeopardizing not only your happiness but your ability to make a professional decision.

Let me tell you a story... back in April of 2010, I went to work just like I did on any other day. The difference was when I left work that day, it was a bit earlier than usual. Why? I had been fired. My thing is, I wasn't a puppet, and I would not tolerate being treated like one. I've always felt that I have the right to stand up for what I believe in, and well, not everyone likes that. When you are found to have that spirit of a leader, you will surely be singled out and working in an "At-Will" state, they could say anything to kick me off the payroll. I was still able to draw unemployment, of course, but that was not the point. I actually felt rather defeated. I felt like I failed. Yes, I had my dignity, but I didn't have my job. It almost made me question how much my dignity was worth. The people around me didn't make it much better, as I didn't tend to find myself surrounded by other entrepreneurial people. Everyone else had a 9-5 (aka a "real job"). I had no one to lean on to find out about transitioning into the world of freelancing.,

I had worked as an independent contractor before, but it was a bit scary. So, instead, I applied for job, after job, after job until my knuckles hurt from typing. My full-time job was trying to find a full-time job. In a down economy, that was a recipe for disaster. I was at the mercy of employers who had plenty of other people to pick from -- perhaps and most likely more educated and/or qualified than myself. After all, I had taken a slew of college courses, but to date had only completed a high school diploma. Pay no never mind to the fact that I was expecting to graduate soon. The jobs that did hire me were all sales jobs and all completely out of my element. I've never been a person to enjoy high-pressure sales. I sucked at both jobs.

It was not until August 2010 (4 months later) that I found the perfect opportunity - even though it was an independent contractor position. The good thing about it was, though, that I could work from home around my own schedule. I gave heavy consideration to it and ultimately decided to go with it. I don't regret it for even one moment.

Why do I have no regrets? I love the freedom that comes with it. I have the type of personality where I don't like to be micro-managed (who does like that?) and appreciate having more free-reign in my work. I also was put into greater control of my own earnings. I could take on as much (or as little) work as was available to me. I was given freedom to choose who I work with. I never declined any project, but it was good to know that I did have that freedom.

I want you all to know this freedom. That's why you can't quit freelancing. If anything, I recommend you come up with a plan to quit your day job to freelance. Once you do, the freedom you experience will be amazing. You will be able to set your own schedule and work on your own terms. You will be able to do the work you truly desire. The bottom line is -- you will have choices.

So, stay strong in the fight. Don't be a statistic. As a matter of fact, you can make it one of your SMART goals to continue freelancing at least for the rest of 2012. Once you've done it for a year and given it your best effort with no real results, it may be time to re-evaluate.

What is your plan to make sure that you don't quit freelancing in 2012?

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Current Blog Stats (And Why I'm Sharing)

"We wear the mask that grins and lies, 

    It hides our cheeks and shades our eyes,— 

    This debt we pay to human guile; 

    With torn and bleeding hearts we smile, 

    And mouth with myriad subtleties." (Dunbar)


Image courtesy of the Smithsonian Institution

I refuse to wear a mask on this blog. I will not fake it until I make it because that won't be authentic. Right now, there are not that many visitors to this blog. I haven't made much money at all from it (last time I checked, I think it was $0.14). Yet and still, I refuse to hide.

Showing you my stats will keep me accountable. You (and I) can see where I started and compare it to where I am December 31, 2012. Anything that I achieve, I want you to know that it's possible - even for the average Joann.

Here are my current stats for the past month (December 4, 2011 - January 3, 2012):

As you can see, the stats are definitely nothing to brag about. That's not why they're here. The intent is not to brag. The intent is to show that real people can grow their blogs.

Are you tired of folks who hide behind the mask? Share your stats and let us watch you grow... (be sure to post the link here).

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My SMART Goals for 2012

A few days ago, I discussed the importance of setting SMART goals. I also defined the acronym SMART as specific, measurable, achievable (or attainable), relevant, and timely. Hopefully all of you have outlined your goals and posted them publicly (I still want to see links!).

It's Friday, and I know you're ready to party hard, so without further ado, here are my goals for this year:

1. Start earning at least $500 per month in passive income by the start of the 4th quarter (October 2011). Right now, I work for all of my money. I'm not paid on an hourly basis, but my income is a direct result of my effort each day. I love my work, and I still plan to work, but I also want to start earning money "in my sleep".
2. Post at least 10 comments per working day on new blogs. This allows for new blog discovery and helps others find my blog.
3. Lose at least 50 pounds by December 31, 2012. Like anyone else, I have weight loss goals. These goals have previously been the form of a resolution, but now that I'm announcing something publicly, I should be better on track to reach it.
4. Build an emergency fund of at least $2000. That may seem like chump change to most of you, but as of right now, I don't have any money saved. That would be a major deal for me.
5. Grow this blog to receive at least 5,000 monthly page views. Again, this may seem like a small goal to most,  but I have nowhere near this right now.
6. Grow this blog to have at least 1,000 subscribers. Do you notice a recurring theme here? I think that big things come in small packages. (smile)
7. Post to this blog at least every Monday, Wednesday, and Friday from now on and for the rest of the year. This is a big one. I can remain dedicated to this blog for a short time, but I always end up falling off the metaphorical wagon. This, of course, is important to achieve the two goals before it.

That's it. Seven goals. Well, it's the lucky number seven. I feel like printing this off and posting it on my desk so that I don't have to remind myself to look back on my blog to see my goals. I think I will (once I buy printer ink). *smile*

So, let's hear it...what are your goals for 2012?

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Your Guide to Remaining Productive Even on Non-Productive Tasks

There are two things that are productive in business: serving clients and attracting clients. Everything else is not productive. Many of these tasks don't fall into the category of "counterproductive", but they are not doing anything to grow your business. These non-productive tasks are things like: bookkeeping, filing, reading emails (unless it's an email needed to service a client), shopping for supplies, etc. While these tasks are often necessary, they aren't productive. They aren't going to make you any more money in the long run. So why do freelancers waste their time on such tasks?

Well, most small businesses doesn't start off productive. As a matter of fact, most business owners spend countless hours doing things that don't grow their business. They can run a one or two man show giving up their time to do things themselves instead of paying others. More often than not, they aren't able to afford to pay anyone else to do these things. New business owners are much more "stingy" (for lack of a better term) with their money, and they should be. After all, according to the Small Business Administration, over 50% of small businesses fail within the first five years. The time from launch to maturity of a startup is critical. There must be money available to continually reinvest in the business. If this is spent passing off non-productive tasks, the average small business owner/freelancer can easily find themselves in a bind.

It's simple enough to find someone else to do the work for you, but it's more challenging (and arguably more rewarding) when you find a way to do it yourself. I know what your next question is -- there are only 24 hours in a day. How can I make time for these activities when I should really be growing my business? That's a great question.

The best thing for you to do is to review how you spend your day. That means it's time to start tracking your time. How much time do you actually spend working? Are you spending too much time reading blogs (other than this one), browsing social networking sites, etc.? Once you know how your time is spent, you are then able to figure out where to "trim the fat". If you spend over an hour per day on social networking sites, that is probably too much. Try cutting it down to 30 minutes to see if that will allow you more time to work on those non-productive tasks.

Do you have any other ideas for staying productive while running a small shop?

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SMART Goal Setting for Freelancers

If you haven't already thought about your goals (or resolutions) for the year, now is the time to start. After reading a bit on Pat Flynn's Smart Passive Income blog (which I recommend, in case you don't follow it), I plan to post my 2011 goals to this blog.

One of the biggest keys is that you set SMART goals. What is a SMART goal? Simply put, it's a goal that is Specific, Measurable, Achievable (or Attainable), Relevant, and Timely. You should make sure that any goal you set meets all of these criteria.

Here are a few quick questions you can ask yourself to determine if your goals are SMART enough:

1. Is it specific enough? Would someone who doesn't know anything about me know exactly what this goal is without any help from me? For example, don't say "Learn to do something". Instead, say "Learn to play the guitar".
2. Is it measurable? Can you qualify or quantify this goal? Using the guitar example, you can say something like "Learn to play six rock-and-roll songs on the guitar" instead of just "Learn to play the guitar" as mentioned above.
3. Is it achievable (attainable)? Is it impossible to complete your goal? Very few things are truly impossible, so most goals will meet this criteria.
4. Is it relevant? If you are a musician and learning to play the guitar will better your career, great. If you love music, even better. If you aren't a musician, have no desire to learn music, etc., the goal is not relevant to your professional or personal interests.
5. Is it timely? You have to set a time limit. If you don't, you'll have no way to gauge your success. To wrap up our guitar example, you can say "Learn to play the guitar by September 2012."

I have been using this methodology since 2007 when I started working at my last "real" job. Each year, we were required to set SMART goals. Whether or not we reached these goals was a part of our annual review. Goals setting for freelancers is equally important. However, since you don't get reviews from a boss, it's important to make sure that you can be honest with yourself on whether you met or didn't meet your goals.

I challenge to you, for 2012, to publicly announce your SMART goals on your blog or some other public forum (post the link here, I want to see them!). At the end of the year, you can review your progress, also in some public forum.

So, let's hear (read) it! What are your goals for this year?

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