My first attempt at starting a company was called TrekDek. It was a deck of playing cards that had a different travel challenge to accomplish on each card. For example, one card would say to eat the street food and another would challenge you to strike up a conversation with a local. I worked on it for a few years and eventually gave up. In the end, I netted zero dollars. I loved the idea, but for a number of reasons, it wasn't successful. What I realized later was that I was confusing my love for novelty and originality with the desire for a successful business. Contrast that with going 1099. With my first shot at it, I earned an extra $40k-$50k. I didn't invent solo 1099 federal sub-contracting and I didn't invent data analysis as a professional service. It was 100% not original. Now I'm also building a "real" government contracting company by hiring qualified people to do the work the government wants done. This is also 100% not original. If you have concrete business goals, being original should be a low priority. You can certainly be original within the business, but usually this manifests in more conservative ways, like being faster at delivering your service or doing it to a higher level of quality. It requires original/creative thinking but within the very unoriginal constraints of a traditional service business. If you're an entrepreneurial/creative type, that's great! Definitely use that side of your brain and personality. But if you want the relatively quick win of working for yourself and making more money, don't focus on originality and instead just focus on fundamentals: being technically competent, actively networking, and pitching 1099 arrangements. If you're interested in learning how to get your first solo 1099 federal sub-contract, check out my book: |
Going 1099 is a book that teaches you how to become a solo federal sub-contractor and gain control of your working life, earn more money and unlock more free time. I wrote it because quite a few people have asked me how they can become a 1099. I figured it was best to write a single book that I can send them and that I can share with others who are interested. This newsletter goes out Monday - Friday and covers topics that will help you succeed in starting and maintaining successful 1099 career.
One of the reasons a company would bring on a 1099 or a sub-contractor is because bringing on a full time W2 employee would be too risky. If a contract has a limited amount of time left on it and there is a vacancy, companies may not want to hire someone because they're not sure if they'll have billable work for the employee after the contract ends. This is when hiring a 1099 would make sense, even if it reduces their margin. They're trading margin in exchange for a lower risky profile. In...
Hi all, Not returning to the newsletter just yet but thought I'd send out a link to an interview I did with Jonathan Stark on his podcast, Ditching Hourly. https://podcast.ditchinghourly.com/people/dale-davidson Jonathan advocates for getting away from hourly billing in your independent consulting practice. I agree, but I discuss why that's difficult in government contracting but why it might be okay anyway, particularly if you're jus getting started. He's a great follow for those of you who...
Hi all, I've enjoyed writing this newsletter for over a year now, but I've decided to take a hiatus for the time being. There is an extensive archive if you'd like to go back and read the previous ones. As always, if you have 1099 questions, feel free to ping me via e-mail at dale@1099fedhub.com. Good luck to you all! -Dale If you're interested in learning how to get your first solo 1099 federal sub-contract, check out my book: Going 1099: How to become a solo federal sub-contractor and gain...