I'm Dale, the author of Going 1099

Think in conversion rates

Published 29 days ago • 1 min read

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:

  • 1 - Your current job (could convrt)
  • 3 - W2 job offers with primes that could turn into a 1099 gig if you convince the PM
  • 2 - Previous government clients you worked with
  • 3 - Previous co-workers at new companies you're friendly with
  • 1 - A friend who is willing to introduce you to some folks that may be helpful

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:

Going 1099: How to become a solo federal sub-contractor and gain control of your working life, earn more money and unlock more free time

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.

Read more from I'm Dale, the author of Going 1099

There are no golden parachutes at a small companySource: The downsides of working for a large company like Booz Allen, Deloitte, Peraton, etc. are known. They can be bureaucratic and often make you do extra work outside of your billable hours. Small companies generally have a different set of pros and cons. In the government contracting world, you may be able to negotiate some very 1099-like terms with a small company. You might be able to negotiate an hourly rate or high...

about 16 hours ago • 1 min read

Gig timing is somewhat random Here's how long it took to get my 1099 gigs: Gig 1: 2.5 years of working as a W2 at a government contracting company then I converted my job. Gig 2: 2-3 months after my first gig ended (due to clearance issues; agreement was made within the first few weeks of my previous gig ending). Gig 3: 2 months after my second gig ended. A client introduced me to the PM at a prime maybe 6 months prior to that. Gig 4s and 5: 2 years after my third gig. I took some time off,...

1 day ago • 1 min read

Buying stocks on RobinHood is basically like playing roulette In 2010, I was getting out of the Navy and stashed in an office with nothing to do for a while so I looked into "investing." You know what stock I bought? Blockbuster and Palm Pilot. I made money, then lost more money, to the tune of a few thousand bucks. I'm glad I lost that relatively small amount of money at a young age, because it turned me off from stock picking. --- I read an article that described a dramatic increase in the...

3 days ago • 1 min read
Share this post