DentaltownUK September 2017 - 53

time out

The Freelancing Trap
by Chris Barrow

In my blog during December 2016 I waxed lyrical about a Seth Godin "Value Creation Masterclass" - an
online course for just £47.00 and downloadable from Udemy (I'm not on any commission here - it is just
great value for money). One of the most important lessons taken from the course was to emphasise the
difference between a freelancer and an entrepreneur. As well as asking myself the question, it occurred to
me that many of the dental owners I work with are susceptible to the same confusion.

Let me start with some of Godin's words of wisdom:
"A freelancer is someone who gets paid for
her work. She charges by the hour or perhaps by
the project. Freelancers write, design, consult,
advise, do taxes and hang wallpaper. Freelancing
is the single easiest way to start a new business.
"Entrepreneurs use money (preferably
someone else's money) to build a business bigger
than themselves. Entrepreneurs make money
when they sleep. Entrepreneurs focus on growth
and on scaling the systems that they build. The
more, the better.
"The goal of a freelancer is to have a steady
job with no boss, to do great work, to gradually
increase demand so that the hourly wage goes
up and the quality of gigs goes up too.
"The goal of the entrepreneur is to sell
out for a lot of money, or to build a long-term
profit machine that is steady, stable and not
particularly risky to run. The entrepreneur builds
an organisation that creates change.
"The trap is simple: Sometimes freelancers
get entrepreneur envy and start hiring other
freelancers to work for them. This doesn't scale.
Managing freelancers is different from being a
freelancer. Managing freelancers and saving the
best projects for yourself gets you into trouble.
"The cash flow gets you into trouble. Investors

don't want to invest in you because you can't sell
out of you are a freelancer at heart.
"If you are an entrepreneur, it is impossible
to succeed by using your own labour to fill the
gaps. That's because your labour is finite. It
doesn't scale. If it's a job only you can do, you're
not building a system, you're just hiring yourself
(and probably not paying enough either).
"The solution is surprisingly easy:
"If you're a freelancer, freelance. Figure
out how to do the best work in your field, the
best work for the right clients. Don't fret about
turning away work and don't fret about occasional
downtime.
"You're a freelance for hire and you need
to focus on your reputation and the flow of
business. Find leverage in the form of assistants
and outsource the commodities if you can - but
your work is always going to be YOUR work.
"Freelancers get ahead by being more
connected, smarter, more effective.
"If you're an entrepreneur, don't hire yourself.
Build a business that works, that thrives with
or without you. It might not be good for your
ego but it will be good for your bank account.
"You c a nnot f reela nce you r way to
entrepreneurial success."

I make no apology for the extensive quotation as, for all the business
books I have read in the last few years, these few paragraphs may be the most brilliant,
thought-provoking and telling.

dentaltownuk.com \\ SEPTEMBER 2017

http://www.dentaltownuk.com

Table of Contents for the Digital Edition of DentaltownUK September 2017