by shabda on October 10, 2011
Clients appreciate being kept informed of the progress of their software projects. Your staff and contractors need a way to keep track of their todo and tasks. A project management system is a must to do this. One of the ongoing challenges to do this is that clients prefer email over a project management system. [...]
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by shabda on October 9, 2011
So you have got your marketing plan working and a steady stream of leads coming in. You dont have a business until you convert these leads to customers though. When a customer is evaluating vendors, they want to check You have the expertise in the technology. You have experience with the technology You have worked [...]
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by shabda on October 9, 2011
You need to maintain your books so that it is easy for you to file taxes, calculate your profitability and cashflow and make projections for your business. Depending upon your local laws and your legal structure your business expenses are probably tax-exempt. So its imperative to keep track of all these expenses. How I work [...]
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by shabda on October 9, 2011
One of the most under-utilized sources for marketing (for consulting businesses) is contributing to open source. Compared to Twitter and Facebook, where everyone and their granny is, code focussed social networks like Github and Bitbucket require more work. They also make it easier to gauge the expertise. These code focussed social networks have a lot [...]
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by shabda on October 9, 2011
You can plan to hire people as soon as you start, or after you have stabilized the business or not at all. It is a very personal decision depending on your finances, stability of business, lead pipeline and willingness to manage people. Remember though that to grow business at some point you need to start [...]
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by shabda on October 9, 2011
Shit happens. Your clients can go out of business or get a new vendor. Your best employees can leave. Your technology can get out of vogue. None of these are catastrophic failures. They can be overcome with retraining, marketing, getting new clients. Each of these take time. (And money). Thats why you need to have [...]
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by shabda on October 9, 2011
Two common answers are It depends 6 month into your monthly burn rate Lets dig deeper. 4 months from starting is a reasonable time to assume that you are making a monthly profit. So you need to keep 4 months recurring plus the fixed expenses to start. Fixed costs: Cost of incorporating a legal entity: [...]
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by shabda on October 9, 2011
There are two ways to get leads. Inbound and Outbound. In the long term you should be getting a large percentage of your leads via inbound channels. (People who find you in search results, our read your blog, or find you via github and twitter.) This takes time to build up so in the meanwhile [...]
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by shabda on October 9, 2011
A year has 52 weeks, a week has 40 billable hours. So say a developer’s yearly salary is X$. Can you do X$/(52 * 40) to come to an hourly rate. Hell no. You need to factor in Downtime when you are looking for clients Cost of infrastructure like servers, desktop and office space Vacations [...]
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by shabda on October 9, 2011
Social media is an important tool to create awareness about your business. You should signup for the important social media sites. Twitter: Create a new user with your business name. Follow people in your community. Talk to them. Setup a search for your business terms, when people are talking about your business niche, reply back. [...]
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