Tag / Businessowner

by caitlyncallahan14

taking pride in your work

I’ve always been a perfectionist.

No matter what I’m working on, whether a big or small project, assignment from a client, campaign recommendation for work or something for myself, I put forth 100% effort and make sure the outcome is of the highest quality.

My parents always instilled this work ethic in me, and it’s something I’m proud of.

The pride I take in my work is one of the reasons I’m successful today with my business, career and even my personal life. I fully believe that being proud of every article I write, social media post I create, email I send to a client, or blog post I publish on my website is what helps me be successful and continue to grow my business.

Over the past year as I’ve been pursuing Callahan Communication and working with more clients, I’ve realized how important it is not just to provide high-quality, exceptional work, but to also take pride in it. It’s not enough to complete a well-written and researched article, but I must also feel proud of what I’ve accomplished and excited to show it off.

Towards the middle of last year, I think I lost my pride. I cared more about creating perfect articles, and I stopped enjoying the process of researching, writing and editing. When I sent a piece back to a client, I was more excited to cross it off my to-do list than I was to share it with others. It ultimately hurt me because I stopped enjoying the work, and therefore didn’t want to do any. I didn’t turn as much product for my clients, and I think it hurt some of the relationships I had worked so hard to build.

Whether you’re a student, full-time employed, part time consultant or a business owner, I can’t stress enough to take a few minutes to think about what you’re doing. What are you providing? What is the final outcome? Are you just turning assignments to be done with them, or are you enjoying what you’re doing? Are you happy because the article was well-written and what the client asked for, or are you excited because you’re proud of it?

I like to do the portfolio test: is this piece something I’m going to be happy to put in my portfolio? Will I be proud to link to this, or share it with prospective clients? Or will it be something I leave off of my list because you can tell there’s no passion or pride behind it?

You have to be proud of what you do, what you accomplish, and how you get there. It’s what will continue to push you to be the best, grow your business, get the promotion, add clients, and remain passionate about what you’re doing. 

Plus, when you have pride in what you provide your clients, they will be even more happy to work with you. Win, win!

 

 

by caitlyncallahan14

reflecting on 2019

2019 was my first year as a business owner, and I’ve spent the first week of 2020 reflecting on last year and making plans for accomplishing my 2020 goals.

Owning this business has been a fascinating journey so far with so much more to come. Here are a few things I learned in my first year as a freelancer and consultant, and a few tips for others trying to do the same!

  • I filed with the state of Kentucky on January 2 to become an LLC. I worked with Incfile.com which helps verify your name, prepare and file articles for your state, give you a registered agent, provide free tax consult, and more. Honestly, other than the filing process, I didn’t use them too much. However, I absolutely recommend others to use it for the filing process – it’s definitely worth it.
  • I spent time developing a contract and invoice template, business brochure, building my website, and hiring a designer to create a logo. If you’re just getting started thinking about being a freelancer or owning a business, there are dozens of things you should do to prepare.

TIP: Don’t be overwhelmed! Do research. Read books and blogs and follow other business owners who are doing or have done the same thing you are working toward. As you read, write down a list of everything they suggest or recommend you develop or have (contracts, invoice, business cards, website, etc.) Work through your list and prioritize those that need done first, and do one thing at a time!

  • I got my first client in January! She’s a small business owner (personal trainer) who has relied on me for the past year to run her social media strategy. We’ve found great success, including significant engagement on her page and even leads and sales for her business.

TIP: DON’T RUSH. Don’t hurry to get your first client until you are completely ready. That client is taking a risk taking you on as a new business – don’t burn them! It’s tempting to run out and start pitching, but you need to remain credible through the process. Make sure you have your stuff together (or at least enough stuff) that you feel confident in being able to produce quality work, on time.

  • I spent January finding balance. Balancing my Upwork clients and business clients, my full-time job and my business, work and personal life, and developing business materials that I would need to be effective.

Embrace the fear. Let go of perfection. Allow yourself to fail. Welcome the obstacles. Give yourself over to your passion with every fiber of who you are. And wake up every day and recognize you chose to build something amazing.

  • My dad passed away the first week of February. This threw a wrench in the ability to focus and work. But I learned a valuable lesson – life happens, and no matter how much you plan or try to be prepared, something is bound to get in the way and mess it up. 

TIP: If something throws you off track, make a “Regroup and Reassess” list. Write 10 things you need to do personally or professionally in the next 7-10 days to get you back on track, and work through that list. 

  • Part of being a working professional is staying current in industry trends and continuing education. While you could take a college course, you can also find certification courses online (free or with cost) to help you learn and grow. Three certifications I worked on last year were ANA’s Content Marketing Certificate Program, Google Analytics Certification, and Hubspot’s Inbound Marketing Certification.
  • February was when I started understanding freelancer’s guilt. Being a freelancer, especially in addition to working a full-time job, takes sacrifices that sometimes I don’t want to make. But to build my portfolio and make a paycheck. those sacrifices are necessary. Apparently, though, feeling guilty is normal and common!

TIP: Read guiding the guilt for some tips on how to ditch the guilt and make the most of your freelance career. 

  • March was when I started budgeting and figuring out how much money I need to make and save to be able to freelance full time. It can be daunting to consider cost of your reoccurring monthly bills, health insurance, emergency fund, savings and other estimated costs you’d run into working on your own. It can be intimidating, and you may feel like you’ll never make it. But, once you break it down into numbers, calculate your hourly rate or number of clients you need, it doesn’t seem as daunting!

TIP: Make sure you understand all of the expenses you’ll run into as a business owner or full-time freelancer. Don’t forget about self-employed taxes, business taxes, health insurance, business costs (like supplies, business cards, website and domain costs, etc.). Do research or talk to an accountant to help you keep everything straight. 

TIP: In whatever way works for you (whether it’s an app, website, or Excel spreadsheet), make sure you track all of your incoming and outgoing dollars. Also save all receipts that are related to your business. 

  • I realized towards the end of 2019 that I wasn’t ready to jump on the full-time freelancing train. I’m a saver, and I was nervous about the budget I felt like I didn’t have. I spent time mapping out what I needed to do to make it happen within the next one, three and five years. I considered my bare minimum monthly budget, researched additional ways I can generate a passive income stream, and thought about what my backup plan would be if I did take the leap and it didn’t work out.

TIP: Just because I wasn’t ready doesn’t mean you aren’t! If you’ve done the research, calculations, budgeting, and thought fully through what your plans are and could be, don’t be afraid! But always be sure you have a backup plan, whether it’s falling back on additional savings, getting help from family, or going back to work full time. 

  • In 2019, I also signed my first paying business client. I had to generate my first statement of work and invoice to an outside client not through Upwork. Honestly, it was scary! I was so afraid I was doing something wrong, or not doing something I should be doing, or invoicing or contracting wrong. But I did it, and it gave me confidence to continue to do it!

TIP: Consult an attorney and accountant before you sign on your first client. Work with a business attorney to make sure you statement of work/contract is sufficient, and your invoice structure protects you. Talk with an accountant to make sure all of your income is taxed appropriately, and you pay taxes the way you should!

2019 was a crazy year. It was a year of growth, excitement, heartbreak, learning, frustration and joy. I can’t wait to see what 2020 brings me and Callahan Communication! Thank you for reading, and for continuing to support my business!

by caitlyncallahan14

new year’s resolutions

Yes, I’m one of the millions of people who makes New Year’s resolutions each year.

I’m also one of the millions who usually gives up on those goals one, three or six months into the year.

I don’t go crazy with my resolutions. Like, instead of saying I want to lose 30 lbs., I instead say I want to eat healthier, get in the habit of exercising, and feel better about myself. I try to keep them general to help increase my chances of success. (I recognize that’s the opposite of what they teach you about setting goals, but in this scenario it seems to work better for me.)

A lot of people look at the new year as a fresh start.

#newyearnewme

In just a couple of days, we will be entering a new decade. And I can feel big, great things coming my way.

2019 was rough. It certainly had it’s ups, but it also had some of the lowest downs I think I’ll ever feel. And I’m determined to take everything I’ve felt and learned right into 2020 and make it one of the best years yet.

A few of my 2020 professional-bucket goals include:

  • Five consistent freelance clients throughout the year.
  • Complete fulfillment (and perhaps a promotion) at my existing job.
  • Re-focus building my business with the ability to be solely reliant by 2022.
  • Build my blog and brand, and continue providing timely, exceptional work for my clients.
  • Earn at least two certifications in a marketing field.
  • Become more educated in business ownership, finances and accounting.

I’ve already begun planning my content calendar and social media post calendars for myself and my clients, and committing to building my client list as much as I can handle. I’ve already set several personal and professional goals for myself, and written out my plan for accomplishment.

  • Submit 10 proposals per week for clients.
  • Have three consistent freelance clients by March 31.
  • Have five consistent freelance clients by June 30.
  • Commit one hour per day to my business – whether it’s for myself or a client.
  • Finish one certification by April 30.
  • Finish second certification by November 30.

I also want to commit to journaling at least one time per week, reading at least one book per month, and setting daily intentions. These are all things I have done in the past and have fallen out of habit, and I strive to re-commit to them next year.

For a few months, I fell out of love with my business and my work. But recently, I’ve fallen back. I thrive when I’m writing. I glean excitement from working with prospective and existing clients. I feel accomplished and proud when I complete an assignment. It’s a different kind of fulfillment the I get from my day-to-day job, and something I want to continue feeling for a long time. It’s also something I want to re-focus on building and creating in 2020.

2020 will be my year. It will be a year for my business and brand, my clients, and my success. What personal or professional goals are you setting in 2020? Share in the comments!

by caitlyncallahan14

vision boards

Since I was a child, I’ve been encouraged to set goals and do what I need to do – whatever it took – to accomplish them.

Whether it was getting an “A” in a class, landing my first (or second, or third) job, being accepted to college, earning my master’s degree, studying abroad, moving to a new city, starting my business… it started with having a goal. Once I had the goal, I had to envision accomplishing it. Sometimes, that included making a plan for getting there. Other times it was simply doing what it took – staying at practice longer than everyone else, constantly reading and writing to improve my craft, setting up my Upwork profile to begin my freelancing career.

Recently I’ve been taking a long, hard look at my life and what my next goals are. I’ve accomplished a lot in my 27 years so far, and this year has been a whirlwind both physically and emotionally. As I check things off my bucket list, such as formalizing my consulting business, I’ve realized it’s time to set my next one, five and even 10 year goals, in addition to focusing on the next 3-6 months.

Most of the time, I make a list of my goals. This week, I tried something different.

Have you ever heard of vision boarding? It’s when you cut or print photos of what you want in your life, or how you want your life to be, and pin it on a board where you can look at it every day. I had a vision board once – house, car, engagement ring, family, beach condo, a book with my byline. I still have many of those goals. They say visualizing your goals is a great way to accomplish them. But after reading the book You Are a Writer (so start ACTING like one) by Jeff Goins, I had another plan.

His words encouraged me to start writing again for the sake of writing, because I love it, with no rules or purpose. As I sat at my desk and thought about it, I was encouraged with an idea – to develop a vision board, but with words.

A vision immediately flooded my mind. Waking up (no alarm) next to my boyfriend, our dog at my feet. Tip-toeing out of bed, puttering across our kitchen and living room, to the back patio sliding door. Opening it. A gush of salty sea air hitting my face. Journaling and meditation on the porch with a cup of coffee, sun in my face. Gathering my things and walking down to the beach. Setting up my spot, and opening my laptop to check emails and log time for my clients. The vision is my family five years from now, living in our little beach house in the Carolinas, freelancing full time and living the life I’ve always dreamed.

As I wrote, 3,000 words poured from my fingertips. I felt myself being embodied by my vision. I embraced my thoughts and the feeling of pure joy and excitement to be living the life I’ve imagined. It made me excited and to be honest, I got a slight thrill. Butterflies in the pit of my stomach. It was exhilarating to envision my life the way I want it to be, and write about it as it is truth. I imagined a future journal entry celebrating how far I’ve come accomplishing my goals and it felt amazing.

I’ve decided I’m going to make this at least weekly personal development time. Taking time to focus on building and envisioning my goals will help me prepare for them better and accomplish them faster.

REFLECTION: How do you keep track of your goals? What do you to do work toward accomplishing them? What goals are you working toward now? Leave your story in the comments!

by caitlyncallahan14

questions to ask yourself

No alarms. Writing when I want to. Working from where I want to be – be it a coffee shop, mom’s house, or my bed. Choosing which projects I want to work on, and what clients I want to work with. Avoiding long commutes, traffic, and scraping snow off my car at 7 a.m. to get to work on time. Answering to only myself, and building my business how I want to build it.

Recently I’ve been asking myself more and more how I can better prepare to be a full-time consultant/freelancer.

With the changing of the seasons, I’m renewing my focus on building my business, client list and portfolio. I’m falling back in love with writing and new excitement working for my clients. And although I recently started a new job and I’m loving the people and the organization, I’m also realizing a little more every day that I’m not made for corporate work style, and I need to work harder to be prepared for a change.

What’s really got me thinking is a girl at my new job recently put in her notice. She’s taking time to travel, freelance and do her own thing. She’s been saving for awhile and now was the time for her. And I’m so jealous.

I have a separate savings account for my freelancing and everything I earn from my clients goes into that account. While I’m happy with where it’s at so far, I’ve been wondering what it really will take to be able to quit my corporate job and freelance full time. I haven’t pulled the trigger because frankly, I’m scared,  and I like to be over-prepared.

I recently did some research in order to answer some questions and help me prepare. Here are some questions you should ask yourself before you decide to freelance full time, and things to consider when determining if you’re ready.

What’s your bare minimum budget?

Before knowing how much money you should have saved, you need to calculate your bare minimum monthly budget.

Think about all of the monthly expenses you have, including rent or mortgage, utilities and other bills, groceries, loans (such as auto or student), credit card payments, and extra for clothing, dining out, etc. Also consider how much you’ll need for health insurance, self-employment taxes, and funding your own retirement account – all things you’d have with a full-time or corporate job, but not self-employed. Don’t forget to add in any freelance costs you may incur, such as fees or office supplies.

One way to help you prepare is to track your budget for three months. Write down every single thing you spend money on, and how much it costs. You can use a notebook, spreadsheet, or budget tracking app. However you do it, having an accurate depiction of what you spend can help you budget for the future.

Also list all of the benefits you’ll be giving up, such as 401k deductions, health insurance, vacation days, etc.

Additional considerations include:

  • Insurance: Having medical insurance is mandatory, so if you’re freelancing full-time you’ll have to purchase private insurance. For healthy young adults, it can be as little as $70 per month. I’ve quoted some companies and get around $75-80 per month. Doing research on your insurance options and comparing quotes can help you save money with the best coverage. Keep in mind some providers require a 30-day application process, so do this research well in advance of needing it to avoid a coverage lapse.
  • Taxes: Self-employment taxes is a whole different ball game. I recommend meeting with a financial advisor or accountant to help you ensure you’re filing the right things at the right time in the right way. How much to estimate for taxes depends on how much money you make and what state you live in. It also depends on if you’re filing self-employment taxes, or income from a business or LLC. If your clients aren’t taking taxes out of your checks, you’ll need to pay quarterly taxes to the IRS to avoid fees and penalties. Some cities may require you to file both state and city income tax. You should plan on paying at least 30-40% of your income in taxes to be safe, but talking to a professional about your specific scenario can help you find more of an appropriate estimate.
  • Retirement: Just because you’re freelancing and not committing an income percentage to an established 401k account through your employer doesn’t mean you shouldn’t be saving. If you have an account from a former employer, consider rolling it into an IRA or mutual fund. At the very least, set aside a percentage of your freelance income to a separate retirement savings account as to not get behind.
  • Business expenses. Don’t forget about the business expenses you may incur while freelancing, such as a business license, liability insurance, website development, training and professional development, office equipment and software, and other print or digital collateral.

How much money do I have saved? 

This question holds many freelancers back – including me – because they want to make sure they have a secure source of income to pay the bills after they quit their job. Obviously, the more money you have the better. Ask yourself, how long would your current savings last? If your freelance career isn’t already established or you don’t yet have existing clients, how long can you support yourself until you get your career going?

Make a list of all of your existing expenses, and estimate your additional expenses (health insurance, etc.). Once you have your total monthly expenses, multiply this by how many months you want savings in case of emergencies. Some experts suggest you have at least 3-6 months worth of expenses in a separate account, but others recommend freelancers double this amount for added risk of being self-employed.

For me, I calculated I need about $3,000 per month for expenses, and I wanted eight months of expenses saved up. That means I need about $24,000 in my separate savings account to feel comfortable transitioning to full-time freelancing. Personally, I am not including dollars I already have in my traditional checking and savings account, or retirement funds already contributed.

Another consideration is estimated costs incurred with life, such as buying a house, having a baby, or taking a trip. In order to support these expenses, you’ll need to continue actively earning income. The extra savings is to support you in case of an emergency or slow time with clients, not fully support you month-to-month.

How can I generate a passive income stream? 

Making more money, especially when you first start freelancing, can make life easier. That’s why it may be helpful to generate additional income streams that don’t require you to actively work. Here are some examples:

    • Develop an e-book or guide people have to pay to download
    • Create an online course that teaches a specific skill you’re an expert at
    • Affiliate marketing (use your website or other platform to promote other companies, who pay you for your promotion). You can do this on your website, podcast, YouTube channel, other social media or other platform.
    • Add display ads or cost per click ads to your blog or website
    • Work with a financial advisor to invest dollars in high-return stocks or other funds
    • Sell stock photos
    • Creating an audiobook
    • Create a digital product, such as course, upgraded package with additional information, downloadable assets, etc.

There are even options not related to your freelance expertise, such as:

  1. Cashback sites or apps
  2. Cashback credit card
  3. Rent out a room, or Airbnb your home
  4. Sell clothes, bags, shoes, or anything else you have that you no longer need. You can use online platforms such as Poshmark so you don’t even have to leave your home.

Do I have a backup plan? 

Even if you have the savings account, passive income avenues, and work hard building your client list, your freelance plan may not work out. If that happens, do you have a backup plan? What if you use your savings and aren’t earning enough to pay off your minimum monthly budget – what next?

It may be helpful to plan for this scenario before taking the leap. Don’t look at it as a way of inevitably failing. Instead, use it as part of your business plan. Will you find another full-time job? Can your partner or spouse cover expenses for a few months? How can you cut your monthly expenses to generate additional savings? Having a back up plan can help you feel confident and secure in quitting your day-job.

Quitting your full-time job and freelancing or consulting is a huge leap of faith, but the payoff can be incredible. However, it takes work, dedication and passion. How much time will you dedicate to perfecting your craft and business? How many hours can you dedicate to communicating with clients and finding work? How many hours can you spend building your website, blog, and working for other clients?

Especially at first, you may have to work harder and longer than you would at a full-time job. But the payoff will be worth it in the end.

REFLECTION: Have you made the move to full-time freelancing? How did you plan for it? How did the transition go? Do you have any tips or suggestions for anyone wanting to do the same? Share your responses in the comments below!