What on earth are "hub" clients? (Part 3/4)
Onboarding the right clients |
Hey Reader, Saying goodbye to your paycheck has to be the scariest part of quitting your job. Especially when you’re making the leap into full-time entrepreneurship. I mean, think about it: Twice a month, money shows up in your account. It doesn’t really matter if you excelled or did the minimum that week. And sure… you might not have that job for long if you consistently “phone it in.” But for the most part, as long as you show up, so do the checks. It makes us feels safe. Most hustle-culture bros will dangle the danger of layoffs to prove the opposite, but here’s the reality: Having a job is less risky than running a business. This level of risk can eat away at our self confidence. The stress and anxiety to make ends meet as an entrepreneur can be devastating to our mental and physical health. So how do we feel safe running our own business? I think the answer is nuanced and multi-faceted. First, I do think we need to have a somewhat delusional level of faith in ourselves. We’ll figure this out. We got this. Right? If you need help here, check out my first newsletter. Second, we need to think about our finances very, very differently. This is what we’ll cover next week: How to map out your financial escape plan. Finally, and probably most importantly, we have to be effective and efficient at bringing in new business. That’s one of those easy-to-say-hard-to-do things, amiright? One of the most effective and most efficient ways I know to bring in new business is to create relationships with what I refer to as “Hub Clients.” The metaphor is pretty simple. Think of a bicycle wheel. At the center, you’ve got a hub. All of the spokes connect to the hub, and supports the tire. A small movement on the hub translates to a large movement on the tire. It’s leverage. Hub clients are entities that effectively connect you (the wheel) to many clients and project opportunities (the spokes). Making a meaningful connection to a single hub client means you’re connecting to a multitude of potential opportunities. See? Leverage. When I started freelancing in 2013, I had no idea what hub clients were, much less where to find them. But by the time I went full-time in 2014, I had four actively engaged hub clients. Each one continued to feed me work for the next two years. I recognized this pattern, and began intentionally seeking out more hub clients. And it worked. One hub client led to (at the time) the largest branding engagement I had ever encountered: a $50,000 identity design project. Efficient. Effective. Leverage. Hub clients come in all shapes and sizes, but in my experience, I’ve noticed three distinct types. We’ll take a look at each one of these in detail:
CollaboratorsCollaborators are service providers who work with the same clients you’d like to work with… but offer completely different services. Think of them like partners who can bring you in to help with one of their projects. Let’s take a look at an example: Let’s say you’re a portrait photographer. One of the best collaborators you’d find is someone who designs and/or builds websites. I can tell you from experience: as a web designer, it’s hard to get good images from our clients. They’re often low-quality, unorganized, and mismatched. And nearly every business website has pictures of their people, right? Collaborators are a great source of recurring business because their business depends on bringing in more clients. And if you have a great relationship, more business for them means more business for you. CompetitorsJust like collaborators, competitors are service providers who work with the same clients you’d like to work with. But in this case, they offer similar services to their clients. Here's the trick: Look for bigger, more established service providers. Instead of trying to collaborate with these competitors, you want them to send work your way that they can’t take on. This is overflow work. Overflow work can be a massive opportunity for side hustlers and solo studios: Larger competitors turn away projects when they’re busy, or clients that can’t afford them. Here’s an example: Let’s say you’re a graphic designer. Connecting with a larger marketing agency who also offers design services to their clients can yield both direct opportunities (working with the agency) and overflow work (work they turn away). Competitors offer the same opportunity for recurring business as collaborators. They constantly need new clients as they grow. Draft in the wake of their marketing activities: The more noise and attention they garner, the more selective they will be about what clients they bring on. ConnectorsConnectors are a bit different. They share a lot of DNA with collaborators, but may not be creative service providers. Instead, they may have a product or offering that appeals to a specific group of potential clients. The best connectors offer products that are—essentially—connection. Great examples of connectors are:
One of my very first reliable hub clients was a connector: An online course that taught fledgling entrepreneurs how to sell products on Amazon (I think it was Amazing Selling Machine). I was brought in by one of my clients (a student), and did tens of thousands of dollars in branding work… all due to that community. Connectors can make fantastic collaborators when you both can help their clients meet the same goal. In my case, the ASM course taught people that a well-designed brand will help them sell products on Amazon. And who could help them with that? Me! As you grow your network, you’ll meet people who get personal satisfaction from making meaningful connections happen. These are true connectors. They’re harder to find, but if you can befriend one, they will send you business. Connectors are great for recurring business because they get value from people making meaningful connections. The more connections they make, the more value they receive. In summaryIntentionally seeking out and onboarding hub clients is a hyper efficient and effective way to bring in new business, especially for a side hustler. So here's your action step: Make a list and reach out to ten collaborators, competitors, and connectors in your local area this week. Just make a connection, introduce yourself, and share your work. Don't be shy: you got this! Hub clients can become an integral part of your lead machine and (hopefully) make you feel a little more secure as an entrepreneur and in your business. Wondering what’s going on?This issue is part three of our four-part series on how you can kickstart your creative business while working full time. I want this to help lower the stress, risk, and uncertainty around getting started as a freelancer, studio, or agency owner. But DON’T FORGET! There are prerequisites. If you don’t have these two crucial things in place, this won’t work: High level of skill. You have to be able to deliver on the promise to your customer. If you need to work on your chops, do it! Take a class, get feedback, and share your work. Impressive body of work. Your portfolio should be chock full of work that you (at least) like, and work that is a good reflection of how skilled you are. If it’s not, do more work! As a reminder, here are the basic steps I took to start my studio way back in 2013… while working 40+ hours per week as a law enforcement officer:
Next week, we’ll wrap up this series with mapping out a financial escape plan. It’s gonna be a CHONKY one - we’re going to cover when to make the leap… by the numbers. Happy Saturday! Ben Burns P.S. There are nearly 400 of you on this list now! Just wanted to say THANK YOU for being here. You’re awesome. P.P.S. Once again, we cover this topic in great, hairy, microscopic detail in Futur Accelerator. This Friday, two members landed 5-figure projects, and one is a side-hustler. I’d love to see you in there. |