VOLUME 18, ISSUE 1 – JANUARY 2019
THIS MONTH’S MENU:
I. APPETIZER: WILL YOUR “WELL-FED LIFE” LAST FOR THE REST OF LIFE?
“The Cow Story” Illustrates the Math Behind Powerful Retirement-Style Investing!
II. “FIELD” GREENS: HOW HIGH IS YOUR RELIABILITY BAR?
FL FLCW Serves Up Tough Love to Slack Freelancer!
III. MAIN “MEAT” COURSE: THE ANTIDOTE TO NETWORKING-PHOBIA!
Business Coach: Make Networking Easier with a “Designated Role”!
IV. DESSERT: SWEET SUCCESS STORIES & TIPS
Part-Time KC FLCW Refuses to Pick One Life Road, Owns & Lives His Many Talents!
TIP: Do This Before Even Brushing Your Teeth, and Watch Productivity Rise!
I. APPETIZER: WILL YOUR “WELL-FED LIFE” LAST FOR THE REST OF LIFE?
“The Cow Story” Illustrates the Math Behind Powerful Retirement-Style Investing!
It’s wonderful to be in a writing field that affords us the opportunity to make a great living, and, thanks to that fact, perhaps buy a house, have nice stuff, take cool vacations, stay out of debt, and save for retirement.
But I also know that writers (and creative folk in general) can tend to live for today, and not think about “down the road.” So, every few years, around this time, as we start a new year, I take a moment to invite you to think ahead.
Simply put, if you’re not doing regular monthly investing for the future, start now.
Some of you may remember “The Cow Story” I’ve run a few times over the years. Here it is again, along with a few encouraging words to take this crucially important step, and extend the enviable notion of “well-fed writing” to the rest of your life!
THE COW STORY
A man decides, at his advisor’s urging, to invest in cows at $100 a month. In Month #1, cows are selling for $100 each, so his investment buys 1 cow.
A news article the next month claims that E. coli bacteria from cows has caused an epidemic. The price of cows falls to $50. His advisor urges him to buy 2 cows despite the man’s disbelief. His $200 investment is now worth $150 (3 x $50), a -25% return.
Next month, mad cow disease rages nationwide. Price: $25. Advisor: Buy more. Four cows this time. His $300 investment is now worth $175 (7 x $25), a -42% return.
Next month, a top medical journal claims beef causes cancer. Price: $10. Advisor: Keep investing. Ten more cows. His $400 is now worth $170 (17 x $10), a -57% return.
No bad OR good news the next month. Price: Still $10. Buy 10 more, says the advisor. His $500 investment is now worth $270 (27 x $10), yielding a -46% return.
Next month, the epidemic subsides and the bovine link is debunked. Price: $25. Four more cows. His $600 investment is now worth $775 (31 x $25), a +29% return.
By the next month, mad cow disease is considered a fluke. Price: $50. Two more cows. His $700 investment is now worth $1650 (33 x $50), a +136% return.
A month later, a beef study shows beef actually reduces colon cancer. Price: $100. One more cow. His $800 investment is now worth $3400 (34 x $100), a +325% return.
Note that the price never rose above its original amount but he still enjoys a 325% return. THAT’S “Dollar Cost Averaging,” and explains how regular investing, even when the market goes down, can pay big dividends in the long run.
Don’t know a good financial planner? Tap your network and ask around. I promise that more than a few of your friends are likely working with someone they like and trust.
II. “FIELD” GREENS: HOW HIGH IS YOUR RELIABILITY BAR?
FL FLCW Serves Up Tough Love to Slack Freelancer!
Commercial freelancers are paid better, I say, because we choose to (and prepare ourselves to) operate at higher levels of skill, professionalism and reliability than garden-variety freelancers, who earn far less. And this great little reminder story from Gainesville, FL FLCW Jean Feingold nicely drives home the point.
I once met a woman at a party who wanted to chat with me because I was a freelance writer. Seems she aspired to a similar career and was trying to pursue this work part-time while holding down a full-time job. Coincidentally, we’d both gotten assignments from the same local publishing company.
The woman expressed her outrage over not being paid by the company because she submitted her article several days after the deadline. She wanted my sympathy and condolences over how she had been mistreated.
As a professional writer, I pride myself on not just meeting but beating all deadlines. The only time I didn’t was when a hurricane dropped a huge tree on my home office (my editor lost her car to the same storm so she understood).
Because of the damage, I couldn’t re-set up my office even after the power and internet returned. What did I do? I bought my first laptop so I could work wherever and was only two days late on the job.
So I told the woman the company was right to pay her nothing. She shouldn’t have accepted the assignment (or future ones) unless she knew she could meet the deadline.
Professional means clients can count on you to do what you’ve agreed to do. If you’re unsure about the deadline or anything else about the assignment, tell them your concerns before you say yes.
Maybe you can work it out; maybe you have to turn down the gig. But there should be no negative surprises for the client on the day your work is due.
III. MAIN “MEAT” COURSE: THE ANTIDOTE TO NETWORKING-PHOBIA!
Business Coach: Make Networking Easier with a “Designated Role”!
Great piece from long-time friend, colleague and Atlanta-area small-business coach, Ed Gandia. If you want to reap the business benefits of professional networking, but loathe the idea of striking up conversations with total strangers at “meet-‘n-greets,” here’s a time-tested solution to the conundrum. Enjoy!
Many freelancers have a distaste for—or outright fear of—networking. Which is a problem, given that networking, when done well, can be a fruitful way of finding new clients.
But in reality, many freelancers would rather have their wisdom teeth pulled than attend another networking event!
Fortunately, there’s a way to alleviate your feelings of discomfort AND yield better networking results: Take on a “designated role.”
What Is a Designated Role?
I’ve unknowingly been using this technique since the late 1990s. I first came across the term “designated role” in the work of marketing coach Marcia Yudkin.
Essentially, it means networking by getting involved in an organization. And here, “getting involved” means much more than just showing up for meetings and events.
It means volunteering in a defined capacity. It could be sitting on a committee or joining a board. It could be setting up an event, greeting attendees, coordinating speakers or acting as an MC.
Basically, it’s volunteering in a meaningful way and in a set role.
Now you’re supposed to be there. You have a specific job. And that’ll take away most of the pressure and anxiety of being at the event.
First-Hand Experience
I developed a new appreciation of this strategy after becoming a member of the TAG (Technology Association of Georgia) Marketing Society’s board. I volunteered to serve as chair and advisor to the annual Tech Marketing Awards two years in a row, as well as to help plan and coordinate events throughout the year.
Like many of you, I’ve never enjoyed (or been particularly good at) “working a room.” But once I had a designated role with this organization, I had a new reason for being there.
I wasn’t there just to collect business cards and make small talk over bagels. I had a job to do! For me, this change totally shifted the dynamics of the room. It gave me a purpose and put me at ease.
I still got to meet people and build relationships, of course. But that activity became a byproduct of my designated role, rather than my primary objective.
People could sense I was giving my time out of a sincere desire to make a difference—not just to promote my business. And I felt more comfortable because I had a designated job to do. As a result, the connections I made were stronger and more authentic.
And because I’d chosen this organization strategically (high-tech was my target market), I ended up working with peers who could potentially hire me or refer me to others. In fact, this role helped me land a significant amount of work, both directly and indirectly.
Real Relationships Don’t Happen Over Doughnuts
Frankly, you can’t expect to really get to know prospects over coffee and doughnuts at the occasional meet-and-greet.
If you truly want to develop meaningful relationships—and do it in a way that’s more comfortable and sustainable—find an organization in your target market, and look for a designated role you can fill.
IV. DESSERT: SWEET SUCCESS STORIES & TIPS
Part-Time KC FLCW Refuses to Pick One Life Road, Owns & Lives His Many Talents!
TIP: Do This Before Even Brushing Your Teeth, and Watch Productivity Rise!
I ran a success story from part-time FLCW Jim Meadows in the November 2018 EPUB, about his fruitful efforts at business expos. Jim began his PT FLCW practice in 2001, and 18 years later, it’s still just ONE part of his life.
When I double-checked on his PT status, I got the amazing note below—a true success story. This is one special individual who embodies “Carpe Diem.” It’ll also inspire anyone with so many interests, they hate to have to pick one.
And understand that Jim is a husband, father, an elder in his church, and has both his FT gig and PT FLCW practice.
After that, a great time-management tip, which, IF followed, will make you FAR more productive. It comes from Fair Oaks, CA former FLCW Pat Cole—now doing important work with this wonderful organization.
Hi, Peter: First of all, YES, I have continued to do all this cool stuff while working full time. I was with AT&T until 2005, moved to ADT to take a Training Team Manager position. ADT became Tyco Integrated Security, and then Johnson Controls. I do a ton of corporate training for them.
Most of my training duties happen at night, leaving the daytime hours open to manage my freelance corporate writing projects and clients.
My ongoing immersion in the corporate world feeds my skill sets, industry awareness and knowledge, all of which feeds directly and indirectly back to my clients as I serve them.
There’s a synergy here: my ministry and corporate roles both feed into my freelance corporate writing, and they each and all feed into each other, creating a marvelously symbiotic set of relationships.
Additionally, I completed my MBA degree in 2009 (on the company dime)—another positive addition to my freelance resume that helps attract clients.
All my life, I’ve been blessed with an incredibly high energy level. Yes, my life demands great time-management skills, but my energy level, good health, and commitment to working out have all helped. I am passionate about everything I do.
Finally, in terms of a sense of personal/professional calling, I have never ever felt I was supposed to be pigeonholed into just one direction. Rather than fight the variety and diversity, I have fully embraced it and capitalized on it. It’s been working well for me!
It’s so easy to get distracted by answering email, and then going down the rabbit hole even more until I waste more time than I can spare. A writing coach gave me this excellent advice: DO NOT OPEN EMAIL (or Facebook, or any other social media) unless I have to check a specific email for a project I’m working on.
I go straight to my computer and work for at least an hour before I do anything else—even brush my teeth. That sets the tone for the rest of the day. I am more focused and efficient.