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.
Why Northrop Grumman turned down billions of dollars
|
The WSJ published an article titled: Why Defense Contractors Are Saying No to Their Biggest Customer: The Pentagon Now, multi-billion dollar defense contracts are not something you really need to pay attention to as a 1099 (except maybe, to find a new gig), but the article had this gym that is useful piece of knowledge. "The Pentagon typically uses what are called cost-plus contracts to develop new weapons systems. Companies earn a fixed profit and the government covers unexpected expenses if problems emerge or contract requirements change. When those plans are ironed out and weapons are ready for production, the Pentagon often switches to fixed-price deals. The parties agree on a price, but companies are left on the hook if costs run higher. Executives said the balance between risk and reward from some deals has swung too far toward the Pentagon, pushing them to avoid projects that could fuel growth." In my book, I mostly cover Time and Materials (T&M) contracts. You figure out a billable rate and then for every hour your work, you get paid that rate. However, I do cover Firm Fixed Price (FFP) contracts where you guarantee an outcome or deliverable in exchange for a fixed price. If you deliver in record time, it's highly profitable. If you go over your estimates, you "lose money" in the sense that your effective hourly rate went down. As a solo 1099, you assume some risk but honestly it's not that much. Even if you work more than you expect on a FFP contract, you still keep the money. However, if you're running a multi-billion dollar contract with thousands of employees, that money can easily walk out the door to your employees, vendors, etc. I wanted to share this because as a new 1099, you may not be used to thinking in terms of risk and reward, and if you're only considering the "reward" part of going 1099, you might end up losing money by being not billable or end up with a sucky project that you resent. 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.
Ahh non-diverse workplace friendships.... The Wall Street Journal published an article that made the claim that Gen-Z are negatively impacted by remote work because they don't get to make friends. What Gen Z Will Lose if They Don’t Have Friendships at Work -- "The rise of remote work has upended all that; the less time we are in the office, the less time we have to form and cement the bonds of friendship. That’s true for all remote or hybrid workers. But the impact is being felt most strongly...
From Art of Gig Volume 1: https://www.amazon.com/Art-Gig-1-Foundations/dp/1959228005 You can only prepare so much. You've done all the research. You have savings. You know you can get a back up job offer. You have great client relationships and technical skills. At some point you're going to have make your move. This might mean telling your boss you can only stay if they keep you on as a 1099. It could mean asking a potential client if they'd like to work with you, and if so, ask for an...
Sherlock Holmes was a 1099 I'm always surprised how few of my friends, who are all smart and educated, don't read on a regular basis. I'm not even a heavy reader, but I probably go through a book per month. This helps me with my writing and thinking and also gives me the fun party trick of being able to annoy others with miscellaneous facts that challenge their world view. Similarly, I'm always a bit surprised by how little research government employees and contractors put into solving work...