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August 22, 2006
Bang Up Job
We lost our softball game tonight in a heartbreaker. We're the number one team in our league, playing the number one team in the other league. We were close right up to the seventh inning, when two of our players slammed into each other in the outfield, drawing spurts of blood from both guys, a couple loose teeth, and a sprained ankle. Lucky for us, the other team was a bunch of EMT's who were able to assess the situation quickly, rule out a concussion, and direct everyone to the emergency room for clean-up. I breathed a sigh of relief and came back home to prepare for my trip.
I've been doing a lot of Big Idea thinking lately. I've been in business for a year now, and while I'm not exactly making money hand over fist, I'm at least solvent (albeit living with my family) and feel like I'm making a difference. But moving forward, that's not going to be enough. Looking to the next 18 months and beyond, I have some hard questions to ponder...How do I measure success? How will I know if I'm on the right track? How will I *know* that I've made the right decision to go out on my own?
Some criteria for consideration:
1. What is an appropriate salary to aim for? Setting aside what's realistic for the next 12 months (and the very, very sad reality of the last 12 months's income), how much would I have to make in order to feel secure? Working backward and taking into account my business overhead, profits for reinvestment, and other necessities, how much would I need to make in sales to make that salary a reality? (Salary answer: $70,000, Sales answer: $100,000)
2. How many clients should I work with over the next year? This is a bigger question than it seems--since I'm at a crossroads with the Big Idea. Personally, I would prefer to work with clients on short-term projects of 2-3 months, with the option to do follow-up projects every year. That format requires a LOT of business development--especially at first--and "biz dev" isn't exactly my passion. On the other hand, I'm not keen on going after the really big clients for lots of money and long-term projects. For one thing, I don't have the necessary skills for in-depth Big Idea services, and if my previous work is any indication, trying to do something I'm not passionate about is a bad, bad idea. So that leaves me with the question: how many clients should I aim for in the next year? (Client Answer: 3 small clients (1-3 month projects), 2 big clients (3+ month projects))
3. How much time should I work every week? Here comes the work/life balance issue...I think that I need a more consistent schedule, both for the Big Idea and for my own sanity. While obviously there are times when I'll have unexpected 80-hour weeks (or the opposite), a better, more rigorous schedule will definitely help me get more done *and* still manage to have a social life. So what's the magic number? (Work/Life Balance: 50 hours/week--including evening networking activities)
Does that seem reasonable? Does it even make sense to set goals for something I have so little control over at the moment? These and other "boring to my readers" questions will be pondered in the next week. 'Cause I'm off to Seattle baby, where I'm sure many thoughtful and inspiring conversations will take place over potluck dinners, campfires, and on the hiking trail of Mt. Baker.
