I didn’t put much thought into my capacity to do consulting work in the beginning.
In fact, I had a “quantity” mindset when I started out, taking on multiple projects at once to build my portfolio.
It was a lot, considering I was still working at my full-time job.
My thinking was that, in order to look more attractive to prospective clients and partners, I needed to have a list of organizations I could say I’ve worked with.
While I enjoyed building my skills and my portfolio, I wasn’t mindful of the timing of all these projects. They were mostly short-term (3-6 months) and they all ended at the same time.
At some point, I realized this wasn’t sustainable. Along with the day job, having multiple projects that started and ended around the same time didn’t help me feel financially stable in the long-run. Running out of projects at the same time is panic-inducing.
When I finally left my job, I had more time to devote to my business, yet I still didn’t feel I could sustain this.
Landing my first multi-year client is when everything clicked.
I had a 3-year project client with multiple moving parts. There was always something for me to do, so I never grew bored. Plus, knowing that I could count on a consistent paycheck also helped.
Soon after, I slowly took on more projects, of varying timeframes, based on where I was with the 3-year project. I was able to stagger projects based on the timing of the larger project, so that I wouldn’t be at the same phase with each project (like writing long evaluation reports for 2-3 projects at the same time, for instance).
I kept track of the start and projected end dates for each project, the project-based skillsets I relied heavily on, and the resources needed for each project. This helped me to be more honest with prospective clients and partners (and myself) about my capacity.
Knowing what you can and can’t do and how many projects you can realistically handle is a personal decision. Here are some questions to ask yourself:
- Where am I with my other projects? Did you just start several projects, or are they evenly spaced out so as to avoid doing labor-intensive work at the same time?
- Do I realistically have the skillset the client/partner is looking for? This should go without saying, but don’t take on a project that you know don’t have the skillset for. You undermine your expertise, and your client/partner will be upset at the finished product.
- Can I realistically devote enough time to this project? When you agree to work with a client or partner, you do so under the condition that you can give undivided attention to their project. From completing tasks and facilitating meetings to technical assistance, your client or partner expects for you to carry the load (client) or find a balance with carrying the load (partner), regardless if you work independently or on a team.
- How many clients or partners do I realistically want right now? Understanding your capacity involves balancing the amount of hours you can devote to any project against what the project actually needs. You’re juggling several balls in the air, including budgets, client/partner expectations, meetings, writing reports, and your own availability. Quality over quantity.
- How else can I realistically assess my capacity? Time is a biggest component of capacity, but so are resources. Don’t take on a project you know you don’t have the resources for, especially if you’re overseeing the project by yourself. Having a partner can help to alleviate these concerns, providing your partner has the necessary resources you can leverage.
Key Takeaway
While it’s tempting to take on multiple projects, being honest about the amount of work you can do right now, along with the time and resources you actually have, helps you, your current clients and partners, and prospectives ones.
Raise Your Voice: What factors do you consider when taking on new client/partner work? Share below in the comments section.
