WordPress Freelancing
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Transcript of WordPress Freelancing
WordPress Freelancing
Wednesday, October 30, 13
You are a business.
Wednesday, October 30, 13
A Gig A Business
TemporaryHanging Out
“Fun”Passing Time
ReliableWorking“Love”
Building
Wednesday, October 30, 13
The Perception
theoatmeal.com/comics/working_home
Wednesday, October 30, 13
Getting Legit
Wednesday, October 30, 13
Apply for a FEINirs.gov
Quick and freeDon’t give out your SSN
Use FEIN for all legal interactions
Wednesday, October 30, 13
Get a business licenseNeed to apply for city and county
Wednesday, October 30, 13
Get a separate bank accountKeep your church and state separated
Wednesday, October 30, 13
TN Sales & Use TaxRegister to prevent an audit
Filed quarterly even if no tax collected Only applies for code on servers in TN
www.tn.gov/revenue
Wednesday, October 30, 13
What’s your structure?
Wednesday, October 30, 13
Sole proprietor LLC
EasierCheaper
More liability
Harder to setupMore expensiveLess exposure
Wednesday, October 30, 13
Contracts!!Do not work without a contract in place
Wednesday, October 30, 13
Get a depositDo not work without covering your costs
Half up-front is standard
Wednesday, October 30, 13
What’s Your Work Mode?
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Contract Client-to-Client
Single projectFixed duration
More billable hoursDepth
Many projectsVariable duration
Less billable hoursBreadth
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Service-based Project-based
Steady workDifficult
scheduling“Tickets”
IrregularBetter
scheduling“Projects”
Wednesday, October 30, 13
What Should You Charge?
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Hourly Fixed-cost
Hard to estimateInterval billing
All time spent is billed
Always held to time standard
Easy to estimate Start & finish billing
Not all time is recovered
More freedom with your time
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Use your hourly rate to position yourself in the market, but quote jobs on a fixed-cost basis to keep clients
from “running up the meter”.
Wednesday, October 30, 13
To determine your rate, estimate the hours you’ll work in a week (~25 hours
billable) x 50 weeks. Be sure to remember biz expenses and taxes will
take a good portion.
$50/hr = $62,500$65/hr = $81,250
Wednesday, October 30, 13
Clients
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Plant Your FlagOnce you’ve determined your business structure, plant your flag. Stick to it and communicate what you do consistently. This helps people refer clients to you.
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Find your niche.Don’t chase everything. Be sure projects fit your company. Refer
projects that don’t fit back to your network (and they will return the favor).
Wednesday, October 30, 13
Always hone your client listIt’s natural for long-term clients to grow
in a different direction than your company. Don’t hang on to a bad-
fitting client out of nostalgia.
Wednesday, October 30, 13
Build your ecosystemGrow your community
Attend meetupsShare with your peers
Contribute
Wednesday, October 30, 13
Pitfalls
Wednesday, October 30, 13
Self-employment taxesSave at least 20% of every check for taxes. This is the biggest pitfall... it’s
hard to remember when you get that big check.
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Hire an accountantIt will pay for itself
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Use accounting softwareIt will pay for itself
Track your progress, rates and efficiencyAdjust your workflow or rates as needed
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Give clients a realistic expectation of your time
They think their project is the only one you have. Don’t be afraid to push back
and give them perspective on how they fit in your schedule.
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Be honestBe open about scheduling conflicts.
Life happens and good clients understand.
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Enjoy your business!
Wednesday, October 30, 13