3) Get paid hourly to a company entity instead of to yourself.
4) Make sure your rate has a 40-50% margin above a salary
5) Pay attention to staffing needs at your client.
6) When you see a possible need, be proactive about getting someone in that you have vetted or trust under your company umbrella.
7) Rinse and repeat.
At about 4-8 people you will be making less money as you wont have time to work, you will be managing people but they might not be making you as much as you made when you were billing as an individual.
You will just have to tough it out. you will likely make mistakes in hiring, lose customers and reset down to 1-3 where you are doing the work again.
Eventually you will have two simultaneous customers. Sometimes you will drop back to one, but eventually you will get 3 etc.
Most of your growth will come from existing customers, for us it is still 80% from existing customers, 20% from new customers. We are at about 60 people
The very first thing I outsourced was accounting (in the first week). The very next was an admin who could also manage a recruiting process. I happened to get a big first deal from a former employer and jumped to 10 people in the first year. But dropped back down during the 2001 recession and had to start over.
I hate networking and have never (rarely) found clients except the first. Therefore I dont think an ability to network is important. Im an introvert and try to minimize my contact with other people. I tend to hide in my office...
As soon as I could I started with a salesperson who could start to prospect.
1) Start as a contractor.
2) Look to join teams that are set to grow.
3) Get paid hourly to a company entity instead of to yourself.
4) Make sure your rate has a 40-50% margin above a salary
5) Pay attention to staffing needs at your client.
6) When you see a possible need, be proactive about getting someone in that you have vetted or trust under your company umbrella.
7) Rinse and repeat.
At about 4-8 people you will be making less money as you wont have time to work, you will be managing people but they might not be making you as much as you made when you were billing as an individual.
You will just have to tough it out. you will likely make mistakes in hiring, lose customers and reset down to 1-3 where you are doing the work again.
Eventually you will have two simultaneous customers. Sometimes you will drop back to one, but eventually you will get 3 etc.
Most of your growth will come from existing customers, for us it is still 80% from existing customers, 20% from new customers. We are at about 60 people
The very first thing I outsourced was accounting (in the first week). The very next was an admin who could also manage a recruiting process. I happened to get a big first deal from a former employer and jumped to 10 people in the first year. But dropped back down during the 2001 recession and had to start over.
I hate networking and have never (rarely) found clients except the first. Therefore I dont think an ability to network is important. Im an introvert and try to minimize my contact with other people. I tend to hide in my office...
As soon as I could I started with a salesperson who could start to prospect.