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NFD 2012 - Ed Gandia: Landing More And Better Paying Clients

Question by Turu from London:

How to take care of the feast and famine cycle, are there any established processes?

Answer:

The best advice I can give for solving this problem is to treat your marketing as a client project. Schedule time to work on sales and marketing EVERY week, and stick to your routine as if it were a client project. Smart and steady marketing will help ensure your opportunity pipeline remains healthy, which will, in turn, smooth out the ebb and flow of work. How much time should you spend marketing? If you have no work, it should be your full-time job. If you have work but it's a bit erratic, plan on spending 20% of your week on marketing-related activities. And if you're booked solid, commit to at least 10% of your work week. Yes, the trick is to market even when you're booked solid. ;)

Question by K from London:

Hi Ed, I am relatively new to freelancing, I am actively working my network which is paying dividends but I'd also like to selectively target companies based on insight or specific hooks. Do you have any advice on good research tools which could help identify company insights?

Answer:

Absolutely! I would start with www.manta.com. It's one of my favorite company research tools, and it's what I'll often use to start my search. I just checked and they have 1.6 million companies listed for the UK. Best part? It's FREE! Start your search there. Consider focusing your queries by industry or sector. And once you find some potential candidates in Manta, do some additional research using Google, where you'll be able to find write-ups that will likely yield good hook ideas.

Question by J:

Ed I get most of my work via agencies but want to start working directly with end clients. What is the best way to approach companies?

Answer:

The first place I would look is in your personal and professional network. Most of us underestimate the power of our own networks, possibly because we assume that none of our friends, colleagues or relatives could be potential clients. However, even if that's the case, SOME of our existing connections could, in fact, know someone who would be a good prospect for us. So, don't just think about direct contacts. Think about whom these people are connected to and how willing they would be to make an introduction for you. Also, keep in mind that you need some sort of "bridge" to start building your direct book of business. By that I mean that your first two or three clients may not be your dream clients. But you need to start somewhere. So go with the flow and build from there. Use those experiences, testimonials and lessons to go out and find your NEXT set of clients. And use those clients to go after even better clients. In other words, stair-step your way to great clients rather than try for "gold" on your first round.

Question by Kate from Lincs:

In your opinion, why don't organisations (especially large ones) treat sole trader suppliers differently from business suppliers when it comes to payment? I find myself having this discussion with many ill-informed accounts depts of v large organisations. Getting across the fact that we can't negotiate terms with our creditors - like business suppliers can - is excruciating! In other words, pay freelancers on time for the right reasons - it's what puts many of us out of business. ps Have written to MP about this. Got the standard "I agree, it's awful bla bla" ineffective reply...

Answer:

Personally, I would let someone else fight this battle. This is an issue that will drive anyone crazy if they attempt to tackle it on their own. Instead, I would focus on going after clients that are (a) better capitalized, and (b) that respect you and treat you as an indispensible resource. The more you are needed, the more leverage you have. Which means that when there's a payment issue, you can put on the pressure and actually get something done. I also work hard to develop a strong relationship with my main contact(s) at the client organization. It's amazing how quickly things get done when you phone your contact about a late payment. If they depend on you, they'll do whatever necessary to take care of you. Use these relationships to your advantage. And if you're still having problems (and if it looks like it's a systemic problem in that organization), don't hope for improvement. Move on to another client.

Question by Nessa from West Midlands:

I have been freelancing as a PR and writer for many years, but the writing work in particular seems to be drying up or at least becoming more competitive and the market seems to be saturated with low quality freelance sites claiming to offer jobs but paying poorly. I keep my skills up to date, have my own blog, watch trends, use social media etc I have excellent big brand experience and credentials, receive excellent feedback about the consistent quality of my work from the writing/content agencies I do work for and even have a book deal - but its the smaller regular writing projects that are my bread and butter. I am beginning to wonder if I am not looking in the right places. Any ideas on the best places to look for quality projects that are reasonably well paid or is the recession impacting? Thanks.

Answer:

Good question. This is a difficult issue, because I truly believe that it would be happening, even if the global financial crisis had never occurred.

Here's the short answer: There will ALWAYS be a market for low-quality work. And there are millions of low-quality service providers ready and willing to meet the need. For those of us who provide a higher-level service, the important thing is to stay focused on the fact that not every client is looking for a cheap, substandard product, even when so many others are flocking to that market.

Here in the U.S. we have a grocery chain by the name of Whole Foods. This company sells premium, organic and local products. I estimate that, on average, you'll pay at least 20% more at Whole Foods than you'll pay at the low-cost grocer, Walmart. Yet Whole Foods is growing at a very healthy rate. They just reported a 23% increase in revenue from the same period last year. Profits are also up. And all this is happening right in the middle of a very difficult economic period.

How is that possible, when competitors like Walmart are selling similar products for a lot less? They recognize that people who shop at Walmart are NOT their base. Instead, they focus on catering to those who appreciate quality ... and are willing to pay more for it.

It's the same thing when it comes to freelancing. There are plenty of clients that are willing to pay for your experience, skills, knowledge and creative energy. But first you need to know who they are. Then you need to communicate that value clearly in everything you do.

As I mentioned to someone a little earlier, start by looking at industries, sectors or segments that are selling high-margin products or services. I would also look for organizations that sell "must-have" products/services. In other words, products/services that solve an urgent problem, as opposed to something that's just "important" or "nice to have."

Question by Mohammad, London. :

Ed, I am an IT pro hoping to embark on a freelancing career but am sceptical about using recruitment agents to find my contracts and would very much like to find my own contracts. Would you be able to advise on the merits or otherwise of this approach and share any tips on how to go about looking for contracts.Thanks.

Answer:

I'm a big believer in finding your own clients.

It's OK to have some work come to you via agencies or brokers. But in the long run, a significant percentage of your income should come from direct clients.

As I suggested to someone earlier, start with your existing network. Your chances are always higher if you're introduced to a prospect by a trusted source.

Next, create a list of organizations you feel would be a good fit for you. Try to focus on organizations where you would have a higher chance of getting hired—either because of your background, your work experience, your track record, specific skills, etc.

For instance, say you worked in the food and beverage industry (in IT) for 6 years. That gives you an edge over other IT pros who are pitching these organizations. So start your search there, and focus on companies in that industry which you believe place a higher priority on IT.

Bottom line: take a focused, systematic approach based on where you can get the quickest wins - both by starting with people who know/trust you and by going after prospects that will quickly see that you already understand their business and industry.

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