productivity – Page 10 – Michele Christensen

Solopreneur Growing Pains

Most solopreneurs I’ve worked with start small and bend the rules to establish themselves. It’s common to start by giving away some free services in exchange

for testimonials or referrals and offer big discounts to hone your craft and gain some momentum. Policies are only loosely enforced if they exist at all in those early days. What almost always happens is that at some point the business is humming along and the business owner still has clients who came on board in the early days and this can create tension for the solopreneur who now has to serve those clients under the old rates or service plan even though it’s no longer appropriate for the business. In those early days, it was fine to get a last minute cancellation since your days were wide-open, but now that means lost income from an empty slot you could have filled with more notice. Maybe some of those early clients are only paying about half of what you charge now.

So what do you do? How do you handle these growing pains?

Start by getting clear on what you want. What rate do you want? How much notice for cancellations do you want? What travel reimbursement do you want? What services do you no longer want to do? Don’t worry if you don’t think you can get all these things right away and still fill your practice – it’s important to know what you want so you can at least begin moving toward that model.

Decide on how much you are committed to the model you want. If you adhere strongly to your model, you may lose some clients off the bat. It may be okay to phase things in over time or give someone a grace period. You may decide to keep some clients even though they don’t line up exactly with your desired business model. When making a change like this, you can do it gradually or all at once depending on your comfort level and your market. If there are services or products you’ve offered that you no longer want to do, consider offering them at a premium price instead of not offering them.

This can be a painful and uncomfortable process but it is necessary to continue your business progress. Your policies, fees, business model and array of services will continue to change and grow with you. At least a few times a year, check in with how you feel about these areas of your business and see if it’s time to grow a little.

5 tips to help you guard your time

Time is a solopreneur's most valuable asset

I was talking to some acquaintances this past weekend and we got on the subject of how we value time. I realized that my value of my time was much higher in dollar terms than the other people present and that a big part of that difference was due to being a solopreneur. The conversation revolved around various trade-offs we could make where we spend time to gain money (e.g. fixing up something you want to get rid of in order to sell it rather than just donate it) or spend money to gain time (e.g. driving instead of taking public transportation).

As a solopreneur, your personal and professional life are more closely linked than they are for a lot of other professionals. Work and home life can easily bleed into each other to a detrimental degree. Your decisions about time and money are interrelated.

My litmus test for any time and money question is to weigh it against how that time would pay off if invested in my business. If I save $5 by taking public transportation, but spend an extra 2 hours doing it then that’s not worth my time (environmental impacts aside). I can make way more than $5 by investing 2 hours in my business even if I’m doing long-term activities.

As a solopreneur, activities that cost time have to be done very conscientiously. Your time budget is at least as important as your money budget. You make money by spending your time correctly. Your time, even though you’re not punching a clock, is not free. There is an opportunity cost to every minute you spend both in financial terms and in terms of other activities you give up to do that activity. Guard your time like the most valuable asset it is.

Here are some tips to help you guard your time:

End your appointments at the stated time. It’s your job to watch the clock, so make sure you start closing up the conversation early enough so that you can finish on time.
Set limits on tasks that tend to expand – for example, give yourself 20 minutes to clear your inbox. Even if you don’t make your deadline, you’ll have an idea of how long this job takes.
Use a timesheet. I do this myself, and it really helps me stay on top of how long I spend doing things.
Create checklists and procedures for tasks you repeat. Don’t reinvent the wheel.
Don’t do anything free just because it’s free in dollar terms. Make sure the activity is worth the time it takes.

Above all, placing a high value on your time should be a guiding principle in your business activities.

A solopreneur’s take on what tasks to do

When you’re an employee, you often don’t have a choice about what tasks you work on. Somebody else creates the big picture direction for the company and your job is to carry out the specific tasks needed to bring that vision to life. It’s a great role in some ways – you’re spared some degree of angst in deciding what to do. You’re not responsible for making sure payroll is covered. You may not be responsible in emergencies or for mundane tasks like insurance, licenses and taxes. But being an employee doesn’t allow you to shape the destiny of the company, and you may not be able to innovate as much as you want. That’s one reason why a lot of people are drawn to the solopreneur lifestyle – the freedom to sink or soar on your own merits.

I think many solopreneurs go through a bit of a let down when they see how many tasks they have to do that they don’t particularly like and this may be true even if you have outsourced help. It’s not that they are doing anything wrong, it’s more of a problem of expectations. Many of us go into our business with huge enthusiasm and a fire to help others, but without thinking about the less glamorous tasks like doing the books, filling out paperwork and finding new clients. What makes things even worse is that a lot of these tasks aren’t optional!

The good news is that once you take care of the mandatory tasks required to stay in business you have some choices about what tasks you do. Unlike an employee, you have lots of discretion as a solopreneur in what you work on. You can even, gasp, make decisions that are bad for business but good for your spirit. The important thing is that you do this with your eyes open. For example, I have not yet really begun to use video in my business very much even though I know I know lots of people like getting information that way (and I will add video at some point). The reason is that video is one of my least favorite ways to receive business information. I’d much rather read, which I can do quickly, or listen which I can do anywhere. Even though I know it’s probably not a great business decision, I’ve taken the liberty to make that decision since I can. There are other important things beside the bottom line for a solopreneur.

If you’re doing any tasks that aren’t absolutely mandatory and that you dislike, I invite you to think about giving them up even if it may not be best for the bottom line. Outsourcing is of course an option, but before doing that consider if you even want to be engaged in those activities. After all, being able to make decisions like that is one of the best reasons to be a solopreneur.

Product review – Google calendar

The basics

Google calendar is included with all the features you get when you open a free Gmail account. In spite of being free, it’s really robust and loaded with features. I’ve used Outlook and Blackberry calendars before, and I can’t find anything that’s missing with Google calendar. If you have an events calendar for your company, you can use Google calendar to get it published on your website without any programming skills.

What’s to love

Here are just the top 5 features that I love. There’s many more, but this should give you enough incentive to check it out. There’s also some newer features being tested at Google labs which you can enable as well (check under the Labs tab of calendar settings).

It syncs with my Timetrade (timetrade.com) account so clients can schedule their own appointments. Timetrade only shows when I’m available, not my appointments or what I’m doing when I’m not available.
Custom privacy settings make it easy to share as much or as little data as you want with your spouse or assistant.
You can invite other Gmail users to events and when they accept it shows up on their calendar. This is great for getting things scheduled with no confusion.
You can specify multiple calendars to see in your main view. Mine shows appointments in red, birthdays I’ve entered in blue, US holidays provided by Google in blue and business tasks or reminders in purple. This is helpful because I know at a glance what appointments I have and can look just at that if I want. You could use this feature for various family members or company functions.
I love the seamless sync with my Android phone.

I could go on and on (and often do!), but you get the idea – it’s a great product that happens to be free. This is one of 32 resources I’ve compiled in my Solopreneur Success Rolodex, which you can download by clicking here. The entire rolodex is a pdf with links to the best resources I’ve found for solopreneurs. See a preview of some of the resources and grab your copy today by clicking below:

Michele’s recommended resources

The myth of the business plan

As a business coach, I often get asked about business plans – how to do one, where to find a template, what to include, who needs one, etc. One of the biggest misconceptions about business plans is that there is just one way to do a business plan. There isn’t just one way to do a business plan – whether to do one and what to put in it are dependent on why you are doing the plan in the first place. When someone asks me about a business plan, the first question I ask is “Why are you doing a business plan?” This often brings some surprise because business plans are often included in those lists of things that every business needs so as business owners we don’t always ask the question.

There are two main audiences for your business plan – internal and external. Your internal plan might be a document which helps you make decisions and run your business. You might use casual or colorful language if it’s meaningful to you, e.g. “I want customers to feel like I always felt when I went to Mrs. Smith’s house.” Your internal plan might help employees or outsourced help you hire to feel connected to the big picture of your business and give them a backdrop against which they can make decisions. Your internal plan might help you stay on track when you look at it periodically. It might help you stay focused on why your business is important to you.

A business plan for an external audience can look very different than a plan for an internal audience. One of the big reasons you might need a business plan is to get funding. Your potential investor or lender will want to see that you have sound, well-researched ideas with a clear path to profit. A risk-adverse funding partner may want to see that you’ve done all you can to reduce risk of loss. A speculative investor may be looking for the potential for big returns. Even if you’ve established that you are doing a business plan for the purpose of getting funding, you still need to know what’s important to the person or organization you are approaching.

I suggest that all businesses at least have an internal business plan. It’s important to get all your great ideas and guiding principles out of your head and into a document. This will help you guide your business along and move steadily forward. It doesn’t need to be formal for you own use. If you need to approach someone outside of your organization with your business plan, you’ll need to polish it up and formalize it and maybe even create a different version for different purposes. If you start with an internal document though, you’ll be helping your business and have a great foundation for the day when you need a more formal plan.

Why I love my email newsletter service

Today is the first post of many on services that I recommend for your solopreneur business. I’ll also be introducing a brand new resource that will allow you to get a comprehensive listing of all the products and services I use. Today I’ll tell you about the email newsletter service I use and why I love it. If you want to get on my email newsletter and test the service I use for yourself, use the signup box at the right.

I’m going to start by assuming you already know the value of an email newsletter for your business. If you’re not familiar with how an opt-in email newsletter can benefit you, stay tuned because I’ll be discussing that in future posts. If you want to have a newsletter, than you need a newsletter service. Don’t try to do it from an email provider like Outlook, Gmail or from the email address provided by your hosting account. You’ll save the service fee, but in the long run it will probably cost you money because you’ll have to handle things like subscribe and unsubscribe requests by hand. Since I’m committed to giving you good information for you business I feel compelled to tell you that not using a service makes a poor impression as well.

I use Aweber for my email newsletter service. I’ve been with them for over a year, and I’m very happy with the service. They do well with the basics like stats, reports, subscribe and unsubscribe requests, social media blasts, list segments, web forms, etc but that’s not why I love the service as much as I do. On top of the basics, there are 2 things that make Aweber stellar in my opinion.

First, they have a strong anti-spam stance that is woven throughout the entire customer experience. It’s not that you get one anti-spam message in your introductory materials and then it’s done. They obviously value preventing spam greatly so they do all sorts of things to encourage you not to spam and to make sure you don’t do it accidentally. Numerous times, I’ve been added to a newsletter by someone who assumed because they had my email address it was okay to add me to a newsletter and this has never happened to when the sender used Aweber. When I’ve done live events, I manually enter the names of people who fill out a form stating they want my newsletter and even in that situation the software reminds you to only send to people who want you to.

Second, they have great customer service. Their online information base is great, but when you need a person you call or live chat their Pennsylvania offices during business hours and get a live person right away. They figure out who you need to talk to and get you to them without making you jump through hoops just to talk to a person.

These features have made it easier for me to have a spam-compliant newsletter that goes out regularly which has been a boon to my business. Oh, and yes they have an affiliate program and yes the links here are affiliate links!

This is the first of many resources I plan to share with you. If you can’t wait for the rest of them to be revealed, you can grab my entire rolodex by clicking here! This is a brand new resource and as you can see I haven’t even set up a proper opt in page for it but you can still grab it right away. It is updated for 2011 and contains 32 resources I use and love.

Placing value on your time off

Solopreneurs must place value on their time off

How much do you value your time off?

How do you act on that value? Do you regularly schedule time off? Do you adhere to that schedule? How about vacations?

As a solopreneur, it’s really easy to get on a treadmill of work particularly when our income isn’t where we need it to be. For many reasons, this is a bad idea. For starters:

It’s not sustainable. You can only burn the candle at both ends for so long before bad things begin happening both physically and mentally.
It’s not satisfying. Work is a critical component of a satisfying life, but it’s not the only one. You need leisure, recreation, social time and family time too.
You won’t be at your best for your clients. I’m a big believer in each person contributing their brilliance to the world, and if you’re fried to a crisp you can’t do that.
It’s not an efficient way to work. Can you really be productive 16 hours a day for long stretches of time? Probably not. Sometimes situations dictate we work long hours for short periods of time, but it’s not a good idea to make a practice of it.
You run the risk of resenting your business and clients without even realizing it, and that’s no way to live.

When things are going badly in our business, it may seem like the answer is to work harder and that may well be part of the solution. But working harder can only take you so far. If you’re working too hard, as defined by you and your lifestyle needs, your business model may be in need of some tuning. Don’t fall into the trap of working harder when that’s not the problem. I invite you to take a stand for taking time off! Part of my stand on time off is that I don’t work weekends unless the mood strikes or I’m at an event. I don’t schedule client meetings on weekends.

Leave a comment with something you stand for in taking time off! If you don’t have any time scheduled for fun, grab your calendar and carve out some time.

If you’re working too hard and not getting the results you want, I’d love to help you fine tune your business model. Click here to schedule a call with me.

Reduce stress and be more on top of things with one change to your to-do list

Lower your stress with a small change to your to-do list

Even I was a bit skeptical at that headline and I wrote it! However, it is true I promise! The one thing I’ll tell you about is really simple too. It has to do with assigning priorities in your to-do list.

I recently switched over to an online to-do list manager called Remember The Milk. One of the many great features is that you can assign priorities to your to-do items with choices of 1,2,3 or none (priority 1 shows on top of your list). I hadn’t been using priorities in my two most recent systems and didn’t want to get too complicated so I stuck with just using priority 1 or no priority. My rule for deciding whether to prioritize something was either it had a fixed deadline with a high penalty for missing (e.g. paying a bill or sending my newsletter) or it was just something important to me (sweeping up the dog hair from the floors). What started to happen was that in my two levels of priority, many things got put in priority 1. So many items were in priority 1 that I began to fall behind and had to start triaging even my high-priority items. This is where stress comes in – it’s very stressful to look at a big list of priority 1 items, know you can’t get to all of them and have to start deciding which to do and which to leave undone for now. It’s also a big waste to spend time and energy deciding what to do because you haven’t maintained your to-do lists in a way that supports you getting things done.

What I did, and this is the big secret today, is to change my criteria for priority 1 into only things that carry a substantial penalty for not being done on time. To support this, I added a middle layer of priority for things that don’t have to be done by a specific day but I that I don’t want to leave indefinitely either. Sweeping up the dog hair falls in here – it doesn’t have to be done today, but I can’t let it go for too long and maintain a sanitary living space. In contrast, sending my newsletter is a priority 1 because it reflects badly on me and disappoints people who have placed trust in me to send it late. The big temptation is to load too many things into priority 1, which takes me back to the original problem. It’s been helpful to have a rule to determine if something really belongs in priority 1.

The big stress relief comes from looking at my to-do list and seeing just 2-5 items that are priority 1 for today. It’s a small universe, it feels do-able, and lets me know in a glance what has to be done today. Everything else is optional. Having things laid out this way is great for really busy days – I can crank through the “must do’s” and even there’s dozens of things that don’t get done I know without a second glance I’ve done what has to be done today.

You can apply this with almost any system you use. Every electronic to-do list manager I’ve ever used allows you to assign priorities and you could even do this with paper so I encourage you to give it a try. It’s done wonders for me, and less stress equals more and better quality work.

Do you have any to-do list tricks you use? Tell me about them in the comments.

Today’s Solopreneur News Roundup, Friday 5/27/11

Welcome to your holiday weekend if you’re in the US! If not, then have a great weekend whatever you do! As I wrote the date on this post, I couldn’t believe how much of the year has passed and there’s still so much I want to get to! How are you doing on your goals for the year?

Here’s the news I want to highlight for you this week . If you’d like to see these items right in your Facebook news feed, come on over to my page and click “like.” Remember, you can now like a page as yourself using your personal profile or as your business using your business page.

I’m a time management junkie, so when one of my favorite teachers writes about procrastination, I make sure to read it. Check out this article:

The Death of Procrastination

Here’s another article on the unicorn of time management: work-life balance. It’s a short read with some great tips.

6 Work-Life Balance Blunders to Avoid

So, I must have had time management on the brain this week, because this article is on the same topic. I LOVED this one because it has one simple, rock-solid strategy you can start using today to get more done. Really!

The Only Way to Get Important Things Done

This next one gets away from time management, but offers you 12 spots to meet clients other than over coffee. I really enjoyed reading this and was thinking it would really energize my client meetings to have some other spaces to use.

12 Unexpected Places To Host Great Client Meetings

Finally, today, a promotion opportunity you won’t want to miss! The highly-visible online visibility expert Denise Wakeman is giving you a chance to Flaunt Your Facebook Page over at The Blog Squad Facebook page:

The Blog Squad on Facebook

That’s the news this week! Leave me a comment on something you’re doing this weekend for fun!

Too much email?

Let’s face it, most of us solopreneurs spend a lot of time on email. In fact many people I talk to say they have “too much” email and that it hurts their productivity. Today, I’m proposing something radical for dealing with email. In fact, you might think it’s not even possible or that I’ve gone haywire!

Here it is, one of my key tools for handling my email effectively.

Check and clear your email inbox once a day.

Yes, that’s it, just once a day. Unless your solopreneur business is emergency services or is related to birth or death or you make money be responding quickly to situations (like a daytrader or board up service for damaged buildings) then you most likely don’t need to check your email more than once a day. I do use the email feature of my smart phone to take a couple of quick glances while standing in line or riding the stationary bike and if it’s a client I’ll respond right away. Barring that, I do one bulk processing of my email in the morning and don’t touch it the rest of the day. In fact, I even shut it down so I can’t see that oh-so-demanding little number count of unread emails that just begs for a peek.

My point in this post is not to say that my exact system will work for you, but to throw away the preconceived notions that you have about needing to always be available via email and figure out what works for you and how much you can stop doing. Constantly checking and responding to email is a huge time suck and will keep you from doing other work that supports your big vision. We often get the message that we need to respond quickly to emails in order to be successful in business and it seems to be the truth, so we don’t ever think about what is right for us. I’m sharing this today to give you encouragement to think outside of what you’ve been told. If I can get away from constant email, maybe you can too.

How often do you check your email? Is it constantly on? What could you do differently?