| 6:11 pm on Oct 21, 2008 (gmt 0)|
If youīre that good, who needs a employer taking your profits. This is a god send for you, start up a business yourself (itīs easier than you think) and be totally in control of your future.
I need a SEO person at the moment, so start building your portfolio ,)
| 7:14 pm on Oct 21, 2008 (gmt 0)|
|I need a SEO person at the moment, so start building your portfolio |
Not sure how you do that. It's easy for people to say "I did this..." "I ranked this client for X rankings" "I increased the traffic by 500%"... I'm not a very experienced guy in the looking-for-new jobs field. I'm pretty young and don't have any other office experience so I never had to do the suit and suitcase thing.
| 7:21 pm on Oct 21, 2008 (gmt 0)|
Do you have enough savings to allow you to take your time and decide what to do next? If SEO is what you were employed to do you should know that starting from scratch with your own websites requires patience and time to succeed.
| 12:49 am on Oct 22, 2008 (gmt 0)|
Quitting is not an option it is easier to get a job when you have a job.
Begin your process of developing your plan if you get laid off file for unemployment. This will at least give you something coming in while you work through this period.
Working on your own is difficult and needs considerable thought to suceed.
| 6:58 am on Oct 22, 2008 (gmt 0)|
I would say that you need to have at least enough money set aside to support yourself for at least a year and ideally two years. It always takes a while for money to start coming in.
| 7:33 am on Oct 22, 2008 (gmt 0)|
I would recommend you start looking for another job in the SEO field, it sounds like you are, like me, young with a limited amount of business experience. I think that getting experience in a number of fields, and with an SEO agency if possible will allow you to experience all of the many of the challenges you might face should you decide to dset up on your own, and you will be able to spend the time you need, working on getting your pown consultancy set ip if that is the way you want to go in the future.
I think setting up on your own in a rush, could be a very bad idea, better yto be sure that you are doing things the way you want to, and work for someone else in the mean time.
| 6:17 pm on Oct 22, 2008 (gmt 0)|
People with knowledge are always worried about what could happen... As a business owner I am always thinking to myself why donīt my staff set up there own business? I think maybe they donīt have the confidence, the money, maybe they have commitments such as children. All these are benefactors. However, if you are young without commitments my advice is and I really recommend this to anyone the following:
First of all continue your day job just to get by and whilst you are doing this set up your own business in what you really want to do. With internet business it all takes time, so continue your business like a hobby. Little by little you will get clients, make contacts. Hopefully in 1-2 years you will have the opportunity to give up the day job and live how you want with your rules!
I did this 5 years ago, and I havenīt regretted it.
| 6:47 pm on Oct 22, 2008 (gmt 0)|
With the current economic environment, I suggest holding onto that steady paycheck as long as possible.
If you assume you won't have steady money coming in for another year or more (not at all unlikely these days), you'll be amazed at how much more you can tolerate any differences you might have with your boss.
While you are still there, quantify as much as possible the results that your have produced. In the meantime, build up your SEO portfolio on the side. You won't be the only ex-full-time SEO person out pounding the pavement. You'll need more than just the experience from your previous company to give you a leg up on all the other "one company wonders" as well as compete with all the SEO freelancers who have several clients already.
Remember that as a freelancer, people aren't hiring you as an employee. You won't have the luxury of getting to know the company and start fitting into the corporate culture. As a freelancer, people will be hiring you to start providing tangible results right away.
|I prefer not working at another company just yet |
Also, you need to dissect exactly what you mean by this. I have seen so many people want to be freelancers (and fail) because they want to be their own boss and not have someone telling them what to do all the time. You will find that as a freelancer, you have MULTIPLE bosses (each client is your boss) telling you what to do all the time. And believe it or not, it's not likely that any of them are going to think exactly like you do either.
| 9:54 pm on Oct 22, 2008 (gmt 0)|
|With the current economic environment, I suggest holding onto that steady paycheck as long as possible. |
I can certainly see Asia's point on this. If you don't have a lot of experience or live paycheck to paycheck right now going cold turkey into the self-employment arena can be a tough road to hoe, especially in this economic climate. However...
There is another side to this coin. If you are good at what you do and you are willing to hustle, have some luck and a reasonable network of people, being self-employed in a climate like this might be your best protection.
I have been self-employed for over 4 years now and for the moment I am still busy with both existing and new client work. I have set up multiple streams of income and because my income streams are diversified I don't ever have to worry about all of my income being shut off at once with an argument with a boss and subsequent receipt of my walking papers.
I am a bit of a zealot on this issue, but personally I don't think there is anything more safe than being self-employed. With self-employment you have a lot more personal responsibility, but with that comes a lot more freedom and control over your economic destiny.
| 6:37 am on Oct 23, 2008 (gmt 0)|
I agree with fortunehunter with regard to diversification. I also agree that once established, self-employment does seem to offer more security. I have worked towards getting a year or more's "salary" as a surplus in my business account. This gives me the security of knowing that I can survive with no additional income for a year. There are few jobs that offer that sort of cushion.
Incidentally I am talking about self employment as opposed to running a business where you employ other people. That's a lot more risky.
| 8:15 pm on Oct 24, 2008 (gmt 0)|
|I am talking about self employment as opposed to running a business where you employ other people. |
Ditto on that. I have no plans to ever add employees.
| 9:34 pm on Oct 24, 2008 (gmt 0)|
|I have no plans to ever add employees. |
I hate to pry into personal decisions, Fortune Hunter, but may I be so bold ask to why? Doesn't that limit potential growth? and greatly limit growth, at that? I do not mean to be negative, but there are limits to what one person may acheive when acting alone.
I am sure we all have different end-games in mind; and we get our kicks from different sides of the business. I realize for some the fun is in the start-up phases and the uncertainty they hold. For others it is the sale of a profitable business, etc. But my blinders (maybe I have tunnel vision?) have me tilting towards stages of growth...first a "one man show", then a small business, then a mid-market cap, and straight until dawn...each stage requires more people and greater specialization. Maybe it's the economist in me...
Would a growth strategy for you mean you take on "partners" -- other self-employed contractors whose skills compliment your own and allow you to bid jobs you cannot do alone? What does your future look like without employees working for you at some point?
I am sorry for my naiveté and apologize if I am prying. I understand if you do not wish to respond!
| 10:24 pm on Oct 24, 2008 (gmt 0)|
|I do not mean to be negative, but there are limits to what one person may acheive when acting alone. |
On the other side of the coin, there can sometimes be a whole mess of problems by employing people. Sometimes the risk doesn't outweigh the reward for certain ventures.
| 11:59 pm on Oct 24, 2008 (gmt 0)|
Most people who have never hired an employee have no concept of the financial, personal, and time (not to mention potential legal) drains caused by by hiring, training, managing, and often terminating employees. It is never as easy as putting an add online, hiring the person behind the first resume you receive and have everything working out happily ever after.
You generally need to wade through 10-20 resumes to find one to bring in for an interview. Then it's interviewing several people before finding a good match. Then all the paperwork involved in the hiring (especially if it's your first employee). Then you have to train the person. Then you have to constantly manage the person (some less than others). Payroll involves more busy work (or cost if you farm it out). Then once the employee decides to go elsewhere, you have to go through the entire search/hire/train/manage process all over again.
Throw into the mix lots of problems if you mis-hired someone and get stuck with someone who's not working out or is causing problems.
Yes, in many cases, hiring someone to take over some of the work load DOES work out. But you have to expect a period of time where the amount of time/money you spend to find/train the person will negatively affect your your overall productivity.
| 9:58 am on Oct 25, 2008 (gmt 0)|
|Doesn't that limit potential growth? |
Very much so but this is not a problem when you are happy with your lot and have no desire to grow your business. I make a reasonable living from what I am doing now and that's all I ask for. I'm getting too old for hassle. ;)
| 10:25 am on Oct 25, 2008 (gmt 0)|
Do you have the pink slip? If not, rethink. Sounds like you're not happy, which is where many of us have been before, but HANG ON TO IT until you have another place to go. Nothing wrong with learning how to gracefully kiss @ss until you locate a new position and tell them to kiss your @ss.
Life ain't fair. Never has been. What is fair is being smart enough to roll with the punches.
| 10:58 am on Oct 25, 2008 (gmt 0)|
What's happening jeyKay?
| 10:23 pm on Oct 25, 2008 (gmt 0)|
I would try to keep the day job if at all possible, save money and then work on building up your own sites or clients in the evenings until you can quit the day job.
| 11:17 pm on Oct 26, 2008 (gmt 0)|
|Would a growth strategy for you mean you take on "partners" -- other self-employed contractors |
You are dead on. I hire independent contractors for a lot of what I need. I have programmer I have been working with for 3 years and 2 different graphic designers. I bring them in when I need productivity and don't when a project's margins are small or I can handle the work myself.
|Then all the paperwork involved in the hiring (especially if it's your first employee). |
Asia is dead on here. He must be speaking from first hand experience. If you have any doubt simply check with your accountant. You will be shocked at all the new taxes, paperwork, and stuff you have to keep up with once that first employee comes on board. While it is true you have someone to help with productivity you also have a drag on cash when work is slow as well. It is a double edged sword. You have to keep them busy and productive and earning money for you when things are tight as well, which isn't always easy to do.
Independent contractors don't cost me money when I don't need them and the productivity is there when business is going well. The paperwork and tax issue is non-existent, or at least much diminished. To me this is the best way to run a business. When this economy starting tanking I didn't have to worry about covering large payrolls or overhead. I simply pared down a few expenses and for the moment I am riding this out just fine.
|For others it is the sale of a profitable business |
Remember when someone is buying a business they are buying the brand, accounts, cash generating capabilities, and other assets, such as intellectual property, web sites, a system for doing business, etc. What they are NOT buying is expenses and employees unless those employees have a very specialized skill set that cannot be easily duplicated. When I decide to retire (loooong way away) I can either close up shop and call it day or find a way to package up my assets and sell them. I don't need employees to do either.
| 4:54 pm on Oct 27, 2008 (gmt 0)|
|Very much so but this is not a problem when you are happy with your lot and have no desire to grow your business |
I did not mean to imply that happiness and business growth were inexorably linked or that growth was the only goal! Just curious to know how others go about their business and what sort of strategies are employed.
Thank you both for your insights!
| 5:06 pm on Oct 27, 2008 (gmt 0)|
|I did not mean to imply that happiness and business growth were inexorably linked |
I appreciate this and I was just speaking from a personal viewpoint. I will be 60 next month and have been working since I was 15 years of age. (Remember when we used to leave school at 15 in the UK?). At this stage all I need is a reasonable income.
I will say that if I were 20 years younger I would have considered growing the business but not now. All I want is enough money to buy beer and holidays for me and my good lady. ;)
| 7:05 pm on Nov 19, 2008 (gmt 0)|
don't panic, write articles as freelancer...
| 12:34 am on Dec 5, 2008 (gmt 0)|
Money isn't a guarantee for happiness. I have no desire to hire employees either due to the hastle with bookeeping, legal matters, etc. all taking away from my enjoyment of designing websites.
@Jeykey--If you haven't lost your job I would advise you to start designing websites on the side so you can build up a portfolio. If your contract with your boss doesn't allow you to work elsewhere then offer your services for free to non-profits. If you do loose your job then you can work for other designers until you get enough clientile built up for a portfolio. You might also consider working on a referral basis with other designers who have checked out your work.
| 10:04 am on Jan 11, 2009 (gmt 0)|
Good advice regarding hiring freelancers over employees. Never involve friends either!
| 10:15 am on Jan 11, 2009 (gmt 0)|
Come on Jeykey - give us a situation report. ;)
| 4:30 pm on Jan 12, 2009 (gmt 0)|
When you say:
|Good advice regarding hiring freelancers over employees. |
You mean 1099 outside contractors over employess on payroll, correct?
| 8:33 pm on Jan 12, 2009 (gmt 0)|
|You mean 1099 outside contractors over employess on payroll, correct? |
Yes, that is what is meant by contractor (freelancer) vs. employee. An employee is on your payroll. You are responsible for paying wages, taxes, unemployment insurance, worker's comp, benefits, and a whole long list of expenses. With a freelancer you hire them, they quote a price if you accept you pay that price and when the job is done you aren't responsible for them any longer. You don't have to worry about their taxes, unemployment, or any other expense of a traditional employee, which is why they are so great.