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.
Think in conversion rates
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I support a People Analytics team, and one of the metrics the team looks at is the hiring conversion rate. You can calculate this a few different ways, but one way is to count the total number of candidates who accepted your job offer, divided by the total number of applicants. If there were 100 applicants and 10 accepted a job offer, the hiring conversion rate is 10%. [Note: Realistically, the denominator would be the number of offers you made, but I digress.] This allows the organization to estimate how many applicants they need to get the number of new hires they need. If the conversion rate is 10% and they need 100 new hires, they need at least 100/10% = 1,000 applicants. When pursuing 1099 opportunities, you should think the same way. If you think you'll have a ten percent conversion rate, you need 10 "leads." Leads can be a job or job offers, warm contacts, or cold contacts Your ten leads may look like this:
Out of those 10 leads, maybe 1 turns into a 1099 gig, for a 10% conversion rate. This may seem obvious, but it's easy to get discouraged if you put all your hopes into a single lead. If you think in terms of pipeline and conversion rate, you get more desensitized to things not working out and can focus on just getting more leads. Remember, to get to one 1099 gig, you start with ten. If you're interested in learning how to get your first solo 1099 federal sub-contract, check out my book: |
I'm Dale, the author of Going 1099
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...