SO YOU WANT TO START YOUR OWN MARKETING BUSINESS?

Tim Bouchard

Partner

FREELANCER

2007-2009

STUDENT

2001-2005

PARTNER

2010-PRES

EMPLOYEE

2005-2006

University at Buffalo

Modern Imagination

Sharpcut Media

LUMINUS

@TimBouchard

@LuminusMedia

Tim Bouchard

ABOUT LUMINUS

Branding, Design, Web Design, Multi-Media, Marketing

HOW LUMINUS STARTED

Two Freelancers

Complimentary Services

Similar Business Goals

Great Portfolios

Happy Clients

WHERE TO START

Register Name

Determine Service Offerings

Create Business Collateral

Update Professional Profiles

TYPE OF BUSINESS

Freelance

Partnership

Small Business

TAXES

Example: New York

Federal Income Tax

Self-Employment Tax

Social Security

Medicare/Medicaid

State Income

 

= About 30% of Gross Income

EXPENSES

Health Insurance (monthly)

Retirement (monthly)

Accounting

Phone

Advertising

Software

Equipment

Office Space

 

= About 30% of Gross Income

GET CONNECTED

Industry Clubs

Local Chamber of Commerce

Networking Groups

Social Media

Advertising

SHOW YOUR WORK

Case Studies

Portfolio

Testimonials

Recognition / Awards

Certifications

THE COST OF SALES

Time spent finding work

Time spent drafting proposals

Time spent drafting contracts

Following up

Paying a sales contractor

PRICING

Know your market

Honestly evaluate your value compared to competitors

Choose a style: hourly, value based, retainer

Hiring

Find talent through networking

Build a reputation as a good culture

Hire a complimentary position, not a clone

GROWING

Leveraging past work success to find larger clients

Hire slowly as new clients are acquired (130% rule)

Keep a close eye on profit / loss

BE COMITTED

Be committed to the ups and downs of business ownership