Having spent a bit of time as a consultant, I thought this was a good article in the Wall Street Journal about how to do it right. Here are the four tips with my commentary.
- Think Long Term – have a business plan and understand what you offer vs. being reactive to doing anything. Don't be afraid to say "no" but make sure you know what you want to say "yes" to.
- Join a Network – cannot emphasize enough networking and even formal referral selling relationships with others. This means doing more than joining a group on LinkedIn but truly having and engaging with a professional network. The time to get involved is not when you are looking for business.
- Have Your Own Space – working from home can be a challenge without a designated place preferably with a door to separate where you live from where you work. If you don't have one, find a company with some excess space and see about renting or bartering for a desk.
- Think Like an Entrepreneur – you are running a business so you must be look at it from that perspective. Understand your cash flow needs as well as have a plan (see #1) around what you want to accomplish on a quarterly and annual basis.
The interesting data point that jumped out to me in this article was that "20% to 23% of U.S. workers are operating as consultants, freelancers, free agents, contractors or micropreneurs." Wow! That's quite a large number and an interesting trend to grasp as it relates to the services and support this category of worker needs.
*Thanks to Scott Stanzel for pointing me to this article.
Venture Vice 
Great points. A few more:
1. There is a 1 letter difference between “networking” and “notworking”. If you cannot buy what I am selling or make substantive introductions to those who can, you are wasting my time. Explore lots of opportunities, get involved in a meaningful way, but also know when to walk away / try something different. A harsh reality. Also helps to differentiate between “networking” and “volunteering”. (Thanks to Tom Greene.)
2. ABC. Always be closing. (Didn’t you do a post on that?) Know when to walk away, though. I’ve watched people chase “prospective deals” for months, waste thousands of dollars, only to be told, “we went with our current firm”. Know the sales cycle for your services / product and know how your good clients make purchasing decisions. Learn when you are being jerked around. Don’t be afraid to walk away from people who are willing to waste your time (albeit, with a smile on their face).
3. Don’t hesitate to ask for the business. Make a point of asking for the business – otherwise you sure as heck are not going to get it. (Thanks, John Hearn.)
LikeLike