Mary Ellen’s Amazing Hourly-Rate Calculator

May 26, 2015 / Pricing / 1 Comment

My coaching clients often ask me for advice and help with setting an hourly rate. While I encourage them to use per-project rather than hourly pricing when talking about budgets with their clients, it’s helpful to have some hourly rate in mind on which to base that project price.

Here is my calculator, in all its math-nerd glory. And remember, this is your minimum hourly rate; your actual rate will be increased based on the value that you provide and the difference you make to your client.
Read More

Why nerdy passion matters

May 19, 2015 / Brand "You" / 2 Comments

I’m often asked by people who are just starting their business whether they need to specialize and how they can differentiate themselves. I recently had a great opportunity to see from the buyer’s point of view what really matters when buying a professional service.

Why Facebook Matters

April 7, 2015 / Marketing, Social media / 1 Comment

I often give presentations and workshops on using social media for both research and marketing, and I am still surprised by how many people look at Facebook with mild disdain. “I have better things to do than post selfies and videos of my dog,” they sniff. “And how could I possibly find value from other people’s selfies and dog videos?”

Closing the Sale

January 29, 2015 / Client relations / No Comments

One of the biggest challenges for entrepreneurs is getting the client to say “I do.” Many of us don’t like being turned down, so we wind up not asking a question that runs the risk of eliciting a negative answer. However, you could be the world’s best marketer, a world-class leader at what you do, and skilled at eliciting your clients’ underlying needs, but if you can’t get the client to sign on the dotted line and approve your proposal, you aren’t going to get paid for all those wonderful skills.

Attracting, Not Chasing After, Clients

January 28, 2015 / Marketing / 3 Comments

I was thinking recently about what kinds of marketing really work for entrepreneurs who own professional-service businesses. Even when we deliver something tangible – a new web site, or a consulting report – we are still selling our expertise and insight. And we generally are not cheap; most one-person businesses charge $100 or more an hour, so our clients usually aren’t impulse shoppers. (Although I do have an image in my head of buying a half hour of time on the QVC network, in between “Beauty By Tova” and Diamonique jewelry, where I can encourage people to buy my consulting services now and SAVE!)

Steps for Starting Your Business

January 27, 2015 / Strategic planning / No Comments

I just read a nice summary of what it takes to start a service-based business, over at The $100 MBA. Omar Zenhom’s Ultimate Guide to Starting a Service Based Business walks you through the mental shifts you need to make in order to turn yourself into a successful business. (Yeah, he thinks of them as action steps, but each step requires an attitude, a mind-set, as much as an understanding of what needs to be done.)

This post covers issues like knowing where your value lies and believing that you offer value, re-thinking your web site, setting rates (gulp), and dealing effectively with clients.

From Author to Publisher

December 15, 2014 / Strategic planning / No Comments

Over the past 18 years, I have had six books published by three different publishers. When I decided that I had another book inside me, I considered pitching it to my usual publishing contacts. After serious thought, I decided to self-publish The Reluctant Entrepreneur: Making a Living Doing What You Love through Amazon.com’s print and e-book services. While it usually takes a publisher nine months or a year from receipt of a manuscript to shipment of a book, my turnaround time was just four months—a significant factor with a book that covers social media and other rapidly changing fields.

Handling pro bono requests

December 4, 2014 / Client relations / No Comments

If you have been in business for more than a couple of weeks, you have probably been asked by someone to donate your time and services for their organization. And especially if your business is still in its early stages, it can be tempting to say yes. “It’s a great way to market myself”, you tell yourself. “They’ll see how great my work is, and then they will pay me.”

Innovating

November 19, 2014 / Strategic planning / No Comments

Adam Davidson (NPR Planet Money co-host) mused about innovation in a piece in the Nov. 16th issue of the New York Times, Welcome to the Failure Age. What I found most intriguing were his thoughts about the impact of information technology on usually risk-averse professions such as lawyers and accountants. As they see much of their low-value, routine work disappear to Nolo and Quicken respectively, these professions are finding new ways to surface the unique value they provide, using tools that once threatened their business. As Donaldson put it:

Read More

The absolutely best reason to call a client

October 9, 2014 / Client relations, Marketing / No Comments

I was chatting with a colleague the other day, who was concerned that she had not heard from a client in a while and she was starting to imagine all the worst possible outcomes. “The client hates me. He’s found someone else with lower rates. I made a horrible mistake and he hasn’t told me.” Blah blah blah… I know; we have all been down that road.