2 Breakout Session # 1007 Brenda Cody, M.S. President/Owner - The Work Solutions Group, LLC Brenda@TheEscapeClause.com www.TheEscapeClause.com 720.989.8743 April 15, 2008 4:30pm – 5:30pm The Contracts Professional as Entrepreneur
3 The CM Professional as Entrepreneur “Most people go through life following Plan A. It’s predictable, it’s expected, it’s routine. But what if you’re not a Plan A kind of person? Welcome to Plan B….” -TV Commercial for Brother Printer
4 The CM Professional as Entrepreneur Why are you here? –What do you want to get out of this session?
5 The CM Professional as Entrepreneur “What Else”? 9% are actively seeking (44% of active seekers cited a desire to change career paths) 6% will begin searching in the next year or two 15% are considering a change 29% might if the right offer came along 41% are not looking
6 The CM Professional as Entrepreneur What are we talking about? –Problem Solution (Client) (You) Who’s doing it? Lawyers, Doctors, Engineers, Accountants, IT, HR, Advertising, Marketing etc, etc…..
7 The CM Professional as Entrepreneur Let’s define ‘entrepreneur’ someone who “creates value by offering a product or service. Entrepreneurs often have strong beliefs about a market opportunity and organize their resources effectively to accomplish an outcome that changes existing interactions.” Source: http://en.wikipedia.org/wiki/Entrepreneur
8 The CM Professional as Entrepreneur Why Now? –Age & Shortage of Contracts Professionals 62% are 45 or older - median 48 14%: 15-19 years experience 26%: 20-29 years experience 8%: 30+ years experience
9 The CM Professional as Entrepreneur Why Now? – cont. Becoming a free agent and remaining in the field will actually benefit the profession by keeping qualified and experienced professionals available to more clients, customers and businesses that need their services.
10 The CM Professional as Entrepreneur Why Now? – cont. –Take control of your future –Technology –Retirement has been redefined –Businesses hiring specialized skills
11 The CM Professional as Entrepreneur Why You? –YOU have marketable leadership skills! Good communication skills - writing, listening, speaking, computer Understand business environment Decision maker and change agent See the big picture / strategic thinker Tailor approaches to situation Results oriented - Utilize targets and milestones – Evaluate Perf Time management skills Objective, Flexible, Curious, Organized, Detail-Oriented, Trustworthy and Ethical Don’t minimize your experience!
12 The CM Professional as Entrepreneur What Will You Do? –What problem are you the solution to? –Niche –What is most exciting about what you do now? –Role: Contractor vs. Consultant
13 The CM Professional as Entrepreneur Who Will You Serve? –Clients who have the problem described in your niche –Define ideal client: Industry Size Products or services # of years in business Challenges, strengths and weaknesses Problem they have that you can solve
14 The CM Professional as Entrepreneur How Will You Get Clients? –Target / Focus Where do they hang out? –On-line: websites, chat groups, blogs, social networking –Off-line: industry associations, trade shows, networking groups What do they read? –Industry magazines
15 The CM Professional as Entrepreneur How Will You Get Clients? – cont. Who already has them captured? –Who is serving them now? Key question: –What do my clients get as a result of using my services? Marketing Strategies – Writing, Speaking, Networking –On-line –Off-line
16 The CM Professional as Entrepreneur What’s So Cool About This? –Freedom –Lifestyle –Your Vision –Your Role –Work/Life Balance
17 The CM Professional as Entrepreneur What You Can Do Right Now –Get used to the idea –Start thinking about ‘who’ and ‘what’ - problem/solution –Get your financial house in order –Make a plan and set a goal –Update your resume –Start networking –Watch for opportunities –Get a coach
18 The CM Professional as Entrepreneur Summary Other Options –Career change –Creating another business –Buying another business Q & A
19 The CM Professional as Entrepreneur Resources: –www.TheEscapeClause.com –www.WorkSolutionsGroup.com –Books: Free Agent Nation – The Future of Working for Yourself, Daniel H. Pink Flying Solo – How To Go It Alone In Business, Robert Gerrish and Sam Leader
20 The CM Professional as Entrepreneur “Our greatest fear is not that we are inadequate, but that we are powerful beyond measure. It is our light, not our darkness, that frightens us. We ask ourselves, who am I to be brilliant, gorgeous, handsome, talented and fabulous? Actually, who are you not to be?...Your playing small does not serve the world. There is nothing enlightened about shrinking so that other people won’t feel insecure around you…” ~Marianne Williamson
21 The CM Professional as Entrepreneur Contact Information: Brenda Cody, M.S. Brenda@TheEscapeClause.com www.TheEscapeClause.com 720.989.8743