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Be Solopreneur Savvy: Insist on a 1099, not a W-2

Successful Independent Consulting

being paid on a 1099 tax basis as a business instead of on a W-2 tax basis like a temp worker makes a huge difference to your profitability for two key reasons: You can pay less tax. Here’s how I figured this out. I like knowing that I get to pay less tax two times (now and in 20 years) simply by saving for retirement.

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Figuring Out Your Billing Rate as an Independent Consultant

Successful Independent Consulting

They don’t know to add a hefty margin to cover things like self-employment tax, business expenses, health insurance, and nonbillable time spent on business administration. Or they haven’t raised their rates consistently over time, or they haven’t switched to a fixed fee. Then multiply that number by 2, 2.5,

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Website Advice for Solopreneurs

Successful Independent Consulting

Is it worth the time and money if you get most of your business from referrals or by subcontracting? Having a website will help you stand out from the crowd. WebsiteByTon ight has clients fill out a simple project brief to organize their thoughts. Answer the questions above and lay out your basic website. Here’s why: 1.

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Narrow Your Niche to Win More Work as a Solopreneur

Successful Independent Consulting

They think that putting themselves out there with a variety of services and expertise means they’ll be hired for more work. Exercise #2: Study Your Work History. If you were a full-time employee at a company, think about any special projects or task forces, either as a team member or subject matter expert. What am I good at?

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How to Generate Referrals Without Asking

Successful Independent Consulting

Part 2: Three Steps for Getting Referrals with Your Own Plan Last month, we took our first look at insights from Stacey Brown Randall’s webinar, “How to Generate Referrals Without Asking.” This month, we’re pivoting out of philosophy and into practice. Make a spreadsheet, listing all of your clients from the last 2-4 years.

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Consultant, Contractor, Freelancer - Labels Matter!

Successful Independent Consulting

There’s a lot of confusion over the terms used for workers who aren't full-time employees: Gig worker Temp Freelancer Contractor Consultant Solopreneur For professional independent consultants, wading through the confusion is critical. Friends don’t let friends W-2! Freelancers direct their own work and are usually paid by the job.

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Managing Meetings: How to Drive Productivity and Success

Tom Spencer

Meetings can either be a powerful catalyst for collaboration and decision-making or a drain on time and productivity. Set Clear Objectives The foundation of a productive meeting lies in setting clear goals and having a well-thought-out agenda. Time is a valuable resource and each meeting should contribute to the overall project goals.

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