Start your free trial now, and begin learning software, business and creative skills—anytime, anywhere—with video instruction from recognized industry experts.

Start Your Free Trial Now
Watching:

Growing through hires and partnerships


Growing through hires and partnerships provides you with in-depth training on Business. Taught by To… Show More
From:

Freelancing Fundamentals

with Tom Geller

Video: Growing through hires and partnerships

Growing through hires and partnerships provides you with in-depth training on Business. Taught by Tom Geller as part of the Freelancing Fundamentals
Expand all | Collapse all
  1. 10m 50s
    1. Welcome
      1m 53s
    2. What is freelancing?
      2m 53s
    3. How freelancing and employment differ
      2m 33s
    4. Preparing your mindset
      3m 31s
  2. 9m 24s
    1. Defining career goals
      2m 48s
    2. Sharpening your market focus
      3m 18s
    3. Transitioning to freelancing
      3m 18s
  3. 16m 11s
    1. Preparing your portfolio
      3m 11s
    2. Estimating costs
      3m 10s
    3. Funding your startup
      2m 42s
    4. Establishing your workspace
      3m 35s
    5. Building your professional network
      3m 33s
  4. 8m 51s
    1. Getting licenses, permits, and insurance
      2m 15s
    2. Creating contracts
      4m 23s
    3. Finding professional service vendors
      2m 13s
  5. 12m 54s
    1. Setting prices
      3m 13s
    2. Establishing payment systems
      1m 36s
    3. Invoicing and getting paid
      3m 50s
    4. Keeping the books
      2m 32s
    5. Managing taxes
      1m 43s
  6. 14m 41s
    1. Announcing your availability
      3m 16s
    2. Finding work through agencies
      2m 2s
    3. Onboarding clients
      2m 59s
    4. Avoiding scams
      3m 25s
    5. Choosing assignments
      2m 59s
  7. 11m 27s
    1. Interacting with clients
      2m 11s
    2. Delivering quality work
      2m 28s
    3. Getting referrals and recommendations
      2m 34s
    4. Losing and firing clients
      4m 14s
  8. 10m 48s
    1. Deconstructing big jobs
      3m 34s
    2. Adopting time-management tools
      2m 35s
    3. Creating schedules
      2m 30s
    4. Turning off the clock for "me time"
      2m 9s
  9. 20m 6s
    1. Staying motivated
      3m 3s
    2. Increasing your rates
      2m 52s
    3. Marketing beyond your professional network
      2m 56s
    4. Growing through hires and partnerships
      3m 30s
    5. Building passive income
      3m 48s
    6. Changing focus
      3m 57s
  10. 4m 52s
    1. Case study: Publishing a book
      2m 47s
    2. Next steps
      2m 5s
  11. 12m 42s
    1. Freelancing Q&A
      12m 42s

please wait ...
Growing through hires and partnerships
Video duration: 3m 30s 2h 12m Appropriate for all Updated Mar 20, 2013

Viewers:

Growing through hires and partnerships provides you with in-depth training on Business. Taught by Tom Geller as part of the Freelancing Fundamentals

Subject:
Business
Author:

Growing through hires and partnerships

One problem with freelancing is that it doesn't scale. You have a limited inventory of hours for the week and when they're gone, they're gone. There are a few ways you can increase your available hours. Hire an assistant, someone who works for you; hire an associate, someone who works with you; or team up with a partner, another company or person to better both of your business. These are the terms we'll be using to describe the ways you can increase your hours. Let's look at each of them. First, the assistant.

The point here is to offload the stuff that someone else can do and pay that person the less than you'll make in the time it would have taken you to do it. The problem is that there's a big gap between needing that person and getting benefits from their work. There's a time investment to onboard and manage that person, but you can figure out whether it's worth it. I've included an Exercise File with this video to help you. You will enter the amount you bill per hour along with what you'll pay the assistant per hour. Then for each week you enter the number hours you'll pay the assistant along with the number of billable hours you'll gain because of their help.

You'll find yourself losing money in the first few weeks while you train that person. But eventually, the benefits of having an assistant should outweigh that investment and ultimately it should be good for your business. Hiring an associate requires a similar cost to benefit calculation. So rather than repeat that exercise let's talk generally about the benefits and detriments. The big benefit is that in an associate who produces billable work increases the amount of money you can make and the increase is effectively unlimited.

When you have more work to bill, you just add more people. It's easy to forget about the other advantages of taking on an associate though. Namely that it's a different person from you with different skills, giving the two of you a range that neither possesses alone. And that person can act as a reality check whenever you make a decision. Now on the downside you'll have to oversee every person you add, both to manage their work and to check their results. You'll have to accept that you'll lose control over the details as their work style won't be the same as yours.

If they screw up, as the boss, you'll bare the penalties. That brings us to partnerships where you and another business decide to team up to expand your offerings, pool resources, or otherwise improve your businesses. You maintain your own business, but collaborate where it make sense. Like hiring an associate you gain added skills and capabilities along with that important reality check. You'll probably also gain a structure that's more like a corporation which can give you economies of scale and make you more attractive to large clients.

Now on the other hand partnerships usually require unique specific agreements that can be a real pain to draft. Once signed you'll have to trust each other to honor and understand all the clauses. Having a more corporate structure can introduce headaches. In the end you might add a lot of overhead without actually improving your businesses. But I hope the spectre of such detriments don't turn you off to the possibilities of pairing up with complementary businesses or taking on assistants or associates.

As would everything else you just have to balance the costs and the benefits and then act according to what's best for your situation.

Find answers to the most frequently asked questions about Freelancing Fundamentals .


Expand all | Collapse all
please wait ...
Q: This course was updated on 3/20/2013. What changed?
A: We added a bonus chapter that covers common questions freelancers have when entering the field, such as "How do I use Craigslist or other job boards to grow my freelance business?" and "How do I find clients?"
 

Lynda.comへようこそ!

各分野の一流のエキスパートによるビデオトレーニングコースをお探しですか?日々増え続けているLynda.comの日本語によるビデオライブラリをぜひご覧ください。そして広がり続けているlynda.comコミュニティーにあなたもぜひご参加ください。

日本版へ行く

各分野の一流のエキスパートによるビデオトレーニングコースをお探しですか?日々増え続けているlynda.comの日本語によるビデオライブラリをぜひご覧ください。そして広がり続けているlynda.comコミュニティーにあなたもぜひご参加ください。

日本版へ行く
Don't show this message again
Share a link to this course

What are exercise files?

Exercise files are the same files the author uses in the course. Save time by downloading the author's files instead of setting up your own files, and learn by following along with the instructor.

Can I take this course without the exercise files?

Yes! If you decide you would like the exercise files later, you can upgrade to a premium account any time.

Become a member Download sample files See plans and pricing

Please wait... please wait ...
Upgrade to get access to exercise files.

Exercise files video

How to use exercise files.

Learn by watching, listening, and doing, Exercise files are the same files the author uses in the course, so you can download them and follow along Premium memberships include access to all exercise files in the library.


Exercise files

Exercise files video

How to use exercise files.

For additional information on downloading and using exercise files, watch our instructional video or read the instructions in the FAQ .

This course includes free exercise files, so you can practice while you watch the course. To access all the exercise files in our library, become a Premium Member.

Join now Already a member? Log in

* Estimated file size

Are you sure you want to mark all the videos in this course as unwatched?

This will not affect your course history, your reports, or your certificates of completion for this course.


Mark all as unwatched Cancel

Congratulations

You have completed Freelancing Fundamentals.

Return to your organization's learning portal to continue training, or close this page.


OK

Upgrade to View Courses Offline

login

With our new Desktop App, Annual Premium Members can download courses for Internet-free viewing.

Upgrade Now

After upgrading, download Desktop App Here.

Become a Member and Create Custom Playlists

Join today and get unlimited access to the entire library of online learning video courses—and create as many playlists as you like.

Get started

Already a member?

Log in

Exercise files

Learn by watching, listening, and doing! Exercise files are the same files the author uses in the course, so you can download them and follow along. Exercise files are available with all Premium memberships. Learn more

Get started

Already a Premium member?

Exercise files video

How to use exercise files.

Ask a question

Thanks for contacting us.
You’ll hear from our Customer Service team within 24 hours.

Please enter the text shown below:

Exercise files

Access exercise files from a button right under the course name.

Mark videos as unwatched

Remove icons showing you already watched videos if you want to start over.

Control your viewing experience

Make the video wide, narrow, full-screen, or pop the player out of the page into its own window.

Interactive transcripts

Click on text in the transcript to jump to that spot in the video. As the video plays, the relevant spot in the transcript will be highlighted.

You started this assessment previously and didn’t complete it.

You can pick up where you left off, or start over.


Resume Start over

Learn more, save more. Upgrade today!

Get our Annual Premium Membership at our best savings yet.

Upgrade to our Annual Premium Membership today and get even more value from your lynda.com subscription:

“In a way, I feel like you are rooting for me. Like you are really invested in my experience, and want me to get as much out of these courses as possible this is the best place to start on your journey to learning new material.”— Nadine H.

Thanks for signing up.

We’ll send you a confirmation email shortly.


Sign up and receive emails about lynda.com and our online training library:

Here’s our privacy policy with more details about how we handle your information.

Keep up with news, tips, and latest courses with emails from lynda.com.

Sign up and receive emails about lynda.com and our online training library:

Here’s our privacy policy with more details about how we handle your information.

   
submit Lightbox submit clicked
Terms and conditions of use

We've updated our terms and conditions (now called terms of service).Go
Review and accept our updated terms of service.