• Reliable and dependable. Companies reward people who show up for work on time, follow instructions, do their assigned work, and manage deadlines. Can you rely on yourself to do what it takes to operate and grow your business?
  
  
• Positive. We'd much rather work with people who are positive rather than those who are negative and pessimistic. And guess what? So does everyone else, especially clients.
   
• Efficient and productive. As freelances, all we have to sell is our experience and our time. The more efficient we can be, the more productive we are and the more money we can make.
   
• Disciplined. A good employee stays on track and doesn't get distracted by the cell phone or cat photos on Facebook. If you're not disciplined and focused on work, you waste your employer's time and money. In other words, when you spend hours on Pinterest and Facebook during the work day, you're wasting YOUR time and money.
   
• Dedicated. A dedicated employee consistently exceeds expectations and is willing to do whatever is required to ensure the company's success. We haven't met a successful freelance yet who wasn't dedicated to his or her business.
   
• Responsible. Succeeding in this business requires you to take ownership of your company's success or failure. You are the person to blame when things go wrong and the one to pat on the back when things go right. Only you can determine where your business is headed.

What's Your End Game?              

A lot of thought goes into starting a freelance business. What kind of business entity is best? Where will you work? How will you position yourself? How will you market yourself?  And do you have enough money in the bank to tide you over until clients start paying? But freelances rarely give thought to their end game.

Granted, being a freelance medical writer is ideal when you want to wind down but supplement your income from investments and Social Security. As one of our dear friends showed us, there's nothing stopping a freelance from being productive well into their 90s! But what if you want to do something else, like start a new career or travel? Do you simply tell your clients you will be closing shop and walk away from everything you've worked so hard for so long to build? We have a better idea.

Many years ago we read a brief article in Fortune Small Business (FSB, unfortunately no longer in publication) that we've saved to this day. It was in the "Ask FSB" column. Someone wrote in asking about how to position their firm and maximize its value for sale. What caught our eye was that the person was the owner and sole employee of a company that offers consulting services in a highly specialized area. The person's expertise was the core of the business, and the company had no physical assets. That sounds a lot like a freelance medical writing business, doesn't it?

The response was both encouraging and empowering--while it can be tricky, it is possible to sell a one-person consulting company in which the consultant IS the company. We thought, well, if they can do it, perhaps someday we can, too!

A representative from a company specializing in selling such small businesses likened it to a physician selling their small medical practice. The important thing to remember is that your business is built on your reputation and your relationship with customers, so you can't simply sell it and wash your hands of it. Rather, you should plan on staying for at least a year to ease the transition to the new owner. By working together you can ensure the new owner understands how and why the company works, introduce the new owner to your clients, and give them a chance to show the clients they're just as skilled and qualified. This way, when it's time to step down completely, you can walk away from a successful transition.

If you're wondering what your small business might be worth, there's a free website tool that can help you find out. It only provides a general indicator of value, but it's a start. The tool is very easy to use and doesn't require much information. Just have your last 3 years of business tax returns handy.

Selling Your Business For Dummies by Barbara Findlay Schenck and John Davies is a good resource for every aspect of selling a business, from valuation to closing the deal and transitioning. The print version includes a CD as well as worksheets, forms, and other materials to help you sell your business. As noted above, there are also companies that specialize in helping small business owners sell their businesses including Tannenbaum & Mehta, the company that was consulted in the FSB article we've held onto for all these years.  

Brian and Cyndy are starting the year off with plans to present and speak in a number of venues including the AMWA Mid-Atlantic Chapter Conference on Friday, March 13, 2015 and the AMWA Delaware Valley Chapter Freelance Conference on Saturday, March 28, 2015. Registration is now open for these outstanding educational and networking events. We hope to see you there!

Brian and Cyndy have submitted proposals for sessions at the AMWA 75th Annual Conference in San Antonio, TX, September 30 to October 3, 2015. It will be a huge event and also a very important 75th Anniversary celebration for AMWA you won't want to miss!

Webinars are also in the works, and you'll hear more about these soon, too.

We would love to present at your next upcoming meeting or event, so invite us!

Trust Us. You Don't Want Olivia Pope on Speed Dial!    

• Before every interaction--in person, on the telephone, via email, or online--think beyond what you plan to communicate. Think about the consequences of your communication, that is, how it will be received and the impression it will give.
  
  
• Don't send the wrong message. Let's say you are a novice writer who wants experience. You approach a potential client offering to write for below-market rates or worse, for free. The consequence? Rather than communicating a message of competency, which you intended, it sends one of inexperience. That's not a good way to build a reputation in this business.
   
• Don't air dirty laundry, or any laundry, on social media. This should be self-evident, but every day we see people posting information that is better left private. Don't be fooled by the privacy settings on social media platforms. Once information is out there, people can find it. The consequence? Potential clients may know more about your personal life than you want them to and could decide not to hire you for a project based on what they know.
   
• Leave the drama for the stage. We find ourselves feeling embarrassed for colleagues who engage in verbal battles online or who make abrasive or defensive comments in public. If you disagree with colleagues, talk with them privately, not in the middle of a crowded conference room or in an online forum. The consequence of public drama? You gain a reputation of being difficult to work with. As a result, referrals from colleagues are likely to be few and far between.