A Start Up view of Freelancing
Freelancing can also be a win-win for start up and early stage companies and independent contractors and operators.
But, the opportunities are fewer than with large established companies, and the individual project opportunity needs to be carefully thought through by both parties.
For the past 20 years, I have worked at and with a number of start up businesses and early stage companies, including some that have succeeded and others that have failed - from reflect.com, Legendary Entertainment, Snapchat, Figs, Amber Solutions, CNEXT, Omeza - each in a different industry, each a very different business opportunity, each with selective, specific opportunities for freelancers.
From my experience, here are 4 tips for start ups considering freelancers for critical, value added work.
1. Focus.
When you’re starting up, focus is essential. Focus on the very few things that matter most to a successful start up…demonstrating your product or service has a customer and a market... raising the funds you need to start up.
Could a freelancer help design experiments to prove your concept or promise has appeal? Design and analyze consumer or customer research? Analyze and assess available data re market demand and potential?
If your product is regulated, for example a product that requires regulatory approval, EPA, FDA, et al., is there an experienced independent contractor who can help you navigate the regulatory process?
All start ups need cash/funding especially in the early stages of an idea, product or service concept.
Is there a freelancer with capability and experience that can help raise money during the family and friends round, the angel round, or phase 1?
2. Buy only what you need, when you need it. No more. No less.
Your energy, capacity, and time are your most precious resources. You can invest yourself in a couple of focused activities to qualify your product or service and raise precious cash. You can invest yourself in putting together a very few people on your team absolutely necessary to win. Some of these human resources will be founding owner employees. Others focused independent contractor partners.
3. When you make a mistake, fix it fast.
You will make mistakes. All entrepreneurs do. Whether you’re betting on the wrong player or betting on a product or service innovation, improvement, or feature that doesn’t deliver value to the customer or to your start up company.
And, that’s okay… as long as you come to grips with reality, see things as they really are (not as you would like them to be), and take decisive action. Stop what’s not working. Part ways with the player who is not performing. Move on.
4. Fast cycle learning is the key to start up an early stage success.
Entrepreneurs who are curious, open, collaborative and courageous — and importantly learners — improve their odds of success.
Small, adaptable, agile, flexible and fast learning teams enable start ups to do what they do best. Focus first and foremost on creating a delightful, ideally unique product or service that delivers on a meaningful unmet customer need.
Focus, prioritized choices, a learning culture and a small team of inside employees and carefully chosen outside freelancers or independent contractors is a proven way for start ups to operate.