How Many Hats Can You Wear in a Day ?

1. How Many Hats Can You Wear in a Day? JoAnne Chalom, COMS, Ed.S.

2. The Do’s and Don’ts ofPrivate Contacting JoAnne Chalom, COMS, Ed.S.

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4. Think Time • How many hats do you wear?

5. A Jumping off Point • Attendees will • Understand similarities & differences • An employee • A private contractor

6. A Jumping off Point • Attendees will • Access resources to develop a business plan • An emerging • Or established business

7. A Jumping off Point • Attendees will • Understand the benefits of social media marketing • Emerging business • Established business

8. To Do List • Think Time • Presentation • Questions • Wrap-Up

9. Is Private Contracting Right for You?

10. Private Contractors vs. School Board Employees • Private contractors typically have contracts for • A set time period • A set amount of money

11. Private Contractors vs. School Board Employees • Typically a school board employee’s salary is based on a • ‘School year’ • Ten months long

12. Quantity of Experience and Expertise • A new orientation and mobility specialist may need to accept a lower fee structure • This may be similar to a beginning salary for a recent graduate

13. Quantity of Experience and Expertise • Comparison between • A veteran orientation and mobility specialist • Long-time employee at the top of the pay scale

14. Private Contractors vs. School Board Employees • Wear and tear on School Board Employees' car is not typically reimbursed • Contractors would typically use their car and may or may not be reimbursed for their travel time and expenses

15. Private Contractors vs. School Board Employees • A school board employee benefit • The use of the company vehicle for work related travel • Reimbursement for mileage

16. Private Contractors vs. School Board Employees • School Board employees also have benefits • It may include • Medical • Dental • Retirement

17. Private Contractors vs. School Board Employees • What fringe benefits are provided to employees? • Are they as prevalent for private contractors?

18. Private Contractors vs. School Board Employees • Contractors can access health care coverage through other means that may include • The Patient Protection and Affordable Care Act (PPACA)

19. Fringe Benefits • Pension Plans • Group Errors and Omissions Coverage • Paid time off (sick or personal) • Paid Holidays/Leaves or Sabbaticals

20. Fringe Benefits • Group Health Insurance • Groups Dental Coverage • Group Life Insurance

21. Who Pays for These Expenses ? • Professional Errors and Omissions Liability insurance • General Commercial Liability Insurance • Business coverage for your vehicle

22. Who Pays for These Expenses ? • A private contractor would need to consider expenses such as • Gas • Vehicle maintenance • Office supplies • Other expenditures

23. Taking the Leap • Congratulations, you have decided to go out on your own and become self-employed • Give yourself a pat on the back • Now exhale (after you have figured out what you have just done)

24. Take the Leap • Take a moment to say good bye • Dependable paychecks • Fringe Benefits • Paid time off

25. Administration of Your Business • Paperwork • Oh what fun……….. • All licenses required to have a business must be kept current • City • County • State

26. Administration of Your Business • Monthly deposits • Federal taxes • State taxes • State employment taxes • (Formerly unemployment taxes)

27. Administration of Your Business • Insuring that invoices are paid in a timely manner • Insuring that business expenses are paid on time

28. Overwhelmed by Your Administrative Duties? • When is it worthwhile to give some of your responsibilities to another professional like an accountant?

29. Overwhelmed by Your Administrative Duties? When you spend more time completing these tasks when you could be providing services to clients and earning money

30. Building the Foundation of Your Business

31. Building the Foundation of Your Business • Research and think about your business in a systematic way • Financial backing • Loans • Investors

32. Building the Foundation of Your Business • It helps you to think things through thoroughly • Study • Research-If you are not sure of the facts • Review-Look at your ideas critically

33. Building the Foundation of Your Business • Mission Statement • Vision • Goals

34. Building the Foundation of Your Business • Mission Statement • Brief statement • 30 words or fewer • Explaining their reason for being • Guiding principles

35. Building the Foundation of Your Business • Vision/Business Philosophy • What is important to your business?

36. Building the Foundation of Your Business • To whom will you market your services? • Goals-destinations • Objectives-progress markers

37. Building the Foundation of Your Business • Industry description- What changes do you foresee in the industry, short term and long term? • Will your company be poised to take advantage of them? • Describe company strengths and core competencies.

38. Building the Foundation of Your Business • What factors will make the company succeed? • What do you think your major competitive strengths will be? • What background experience, skills, and strengths do you personally bring to this new venture?

39. Building the Foundation of Your Business • Legal forms of ownership • Sole Proprietor (DBA) • Partnership • Corporation • Limited liability Corporation (LLC)

40. Building the Foundation of Your Business • Services • Describe your services in depth • What factors will you give? • Advantages ? (level of quality) • Disadvantages ? • What are the fee structure of your services?

41. Building the Foundation of Your Business • Market Research • Know your niche market • Primary research • Collecting your own data

42. Building the Foundation of Your Business • Secondary research • Newspapers • Trade journals • Census data • Demographic information • Social Media

43. Building the Foundation of Your Business • Economics • Size of market • Current demand (niche) • Trends • Growth patterns

44. Building the Foundation of Your Business • Other factors • Competitive analysis • Customers • Strengths and challenges • Operational analysis

45. Building the Foundation of Your Business • Other factors • Narrowing your niche • How big a piece of a business can you accommodate? • As a new or established business owner are you biting off more than you can chew?

46. Take Advantage of • Score (http://www.score.org/) • (retired entrepreneurs) • Free or low cost • Mentoring • Workshops • Webinars

47. Take Advantage of • Association of Procurement Technical Assistance Centers (PTAC) • Free • Mentoring • Workshops • http://www.aptac-us.org/contracting-assistance

48. Take Advantage of • Topics offered… • Finance • Money • Management • Technology

49. Terms to Know • Minority Business Owner • A business that is owned, managed, and controlled by a person who qualifies as a minority • At least 51% owned by a minority

50. Terms to Know • Women Owned Business • A business that is owned, managed, and controlled by a woman • At least 51% owned by a women