I’ve been thinking a bunch about freelance billing and what I need to help my business run well. What I want to see in terms of numbers in the business. How a system could help me set goals for my finances and then provide incentives to keep to those goals.
There are lots of freelance billing apps out there. There are even some that come fairly close to what I envision.
In theory, the strength of the market in freelance billing tools is a good validation for my second thought…I should build and sell the tool I want.
I mean, there are millions of freelancers. At least some of them will want what I want right? If I capture 1% of a market of millions then…I can have a Scrooge McDuck money pit.
I’m sure you’ve heard the same talk coming out of your head with your side projects. 1% of some huge number at $10/month means lots of money in your pocket.
But we’re both wrong.
The thing is that we all have the tendency to overestimate our success. This is a good thing because it keeps us going in the face of a fairly hard road of work and setbacks.
It’s also a bad thing.
I causes us to not do the research needed for a project. To do some mockups and then survey the freelancers we can get in touch with. To explain the concepts in videos and get feedback.
To refine our idea and put hard numbers on the market.
I do not doubt if I built a tool, some of you fine people reading this would use it. A few may even love it and use it all the time
But a few people on an email list using a freelance billing software is not a business.
I need to remember that as I look around at a new billing system and if I even decide to go ahead and build what I want…I need to make sure I test the idea in the market. I need to make sure that I collect surveys and put hard numbers to the business.
If I don’t, I’m dreaming and hoping. Hope is not a strategy.
Have an awesome day
PS: How are you validating your ideas? If you don’t have an answer, I feel sorry for you.
Photo by: somegeekintn