Choose your own good growth path
As a freelancer or consultant, you might think the natural next step is to hire one person. And then another. And pedal faster to get more work in to keep everyone busy.
That’s one way to build an agency model. But it’s not the only way.
If you’re not sure which way to grow, this checklist can help.
From solo to small business
Build the creative agency you’d drop everything to work for, with an in-house team you can depend on.
This path might be right for you if:
o You want to be the boss – spending more time managing or coaching others, less time doing the actual work
o You have 3 - 6 months of operating expenses in your business bank account – including your salary
o You know the difference you make to your clients, what sets you apart, and your purpose and values
o You have systems and processes for tracking time, measuring profit, and managing payroll.
From solo to hybrid
Outsource to others for an agency model with more flexibility, lower overheads – but less control over their time and quality.
This path might be right for you if:
o You have a strong network of trusted freelancers or contractors
o Your project workload is variable but defined by repeatable tasks
o You want to test your model before fully committing
o You have systems to set a remote workforce up for success
o Your project rates let you make a 25%-50% margin on freelance costs.
From solo to ecosystem
Build an A-Team collective of like-minded consultants. This could be a loose project-based arrangement or a more structured co-operative.
This path might be right for you if:
o You have a strong network of experienced freelancers or consultants with specialist skills
o Your clients want to work with the best talent
o You’re willing to take on or designate responsibility for lead generation and project management
o You don’t want management hierarchy
o You’re willing to share the project budget based on contribution.
From solo to set-and-forget-income
Make money while you sleep, and turn your expertise into products. Build once, sell infinitely.
This path might be right for you if:
o You’re willing to invest time and money into creating and testing a product or subscription service
o You could solve a common problem or share your valuable IP without having to do all the work
o There is potential marketing upside in your idea, as well as revenue
o You want to create something tangible – whether that’s a card set or a community.
If just one of these paths gets you excited, learn how to make it work for you in Beyond Solo.
Join the waitlist now, and get practical tips, tools and templates ahead of publication.
