title
How to Become an IT Consultant

description
How to Become an IT Consultant 50 Minutes Synopsis: This class introduces you to that's required to go out on your own as an IT Consultant. Starting your computer business is relatively easy. This class talks about: Tools You Need Where You Should Have Your Office Advertising Your Small Business Billing your Clients much more.. I started my consulting business during the IT recession after the .COM bust. After 1 month I was paying my bills, after 3 I was doing better then I had ever expected. Once you learn how easy it is to work for yourself it's hard to ever imagine working for anyone else again! Class Notes: Introduction Becoming a consultant is surprisingly easy and if you have the right mindset for it you will be happier and make more money than if you are an employee. If you have the wrong mindset you'll be bankrupt and miserable quick. What you need The Little Green Bag Don't buy tools until you can use them to make money Sometime clients will buy you tools for a specific job (This is how I originally got my wire testing kit To start with all you need is a screw driver and a can of air Where to work Your basement is FINE!!! Too many people waste valuable money trying to look professional by getting office space. Small business clients will not have a problem with you working out of your house as long as you do good work. Advertising Put up a website and get your email address first! Pull tab signs work great You're not ready to advertise on the web yet! Cheap is good. You have lots of time, and little money. Do cheap advertising until you are so busy that you don't have time for it. Knock on doors -- By going to business districts and knocking on doors/ handing out flyers I found that every 3 hours I was out netted me at least 1 client. (On average... sometimes I would work 10 hours and get nothing, and then pickup 3 clients in under an hour) Promotion Get business cards ASAP! Always have business cards with you. Always talk about your business. (I used to get clients by simply going to the local bar where all the business people hung out and having a few drinks) Charging If you want to reduce the bill reduce hours billed, not what you bill per hour Lump bill better then time + materials -- You get more profit from giving a job price. Always get a deposit worth hardware Credit cards... checks are better -- Credit card customers can revoke charges up to 3 months after payment. Taxes FEIN Number from IRS -- FEIN is technically only required if you have employees, but vendors think you are more professional if you have one Sales Tax Certificate /reseller -- To sell products you need a Sales Tax license from your state. Many distributors require a Sales Tax Certificate. Doing Business as Name allows you to accept checks under the name of your business. LLC..? Supposedly better for tax and legal issues. While you are starting I wouldn't worry about it. Once you have a "real' business you should do it. Under Promise Over Deliver If the system doesn't do what the client needs they won't pay! Don't make up answers, "Let me find out." Answer the questions your clients don't know to ask. Liability / Contracts Handshake deals are easier and quicker then contracts Contracts give a legal recourse if the client doesn't pay, but if you don't provide what is in the contract you may be held liable. Errors and Omissions insurance -- as a "professional" you are required to inform clients of things they may not think of. Product / service creep The more products and services you offer the more complicated and expensive it becomes to provide them. Offering too much can be far worse than not offering enough. Employees Good people can be pain in the ass employees Use Metrics to verify employees are doing what they need to do Treat the hiring and firing of Employees the same way you would treat purchasing or retiring servers. Both servers and employees are simply resources that are required to make the business profitable.

detail
{'title': 'How to Become an IT Consultant', 'heatmap': [{'end': 694.211, 'start': 628.81, 'weight': 0.903}, {'end': 847.52, 'start': 808.833, 'weight': 0.716}, {'end': 1044.896, 'start': 999.706, 'weight': 0.796}, {'end': 1316.733, 'start': 1215.772, 'weight': 0.759}, {'end': 1601, 'start': 1529.432, 'weight': 0.882}, {'end': 1816.981, 'start': 1718.545, 'weight': 0.741}, {'end': 2007.54, 'start': 1937.245, 'weight': 0.779}, {'end': 2164.232, 'start': 2126.23, 'weight': 0.812}], 'summary': 'Learn strategies to become a successful it consultant for free, including personal experiences of rapid financial success and minimal equipment requirements. discover essential tips for starting and running a home-based it consulting business, networking for client acquisition, setting it consulting rates, business identification setup, and it consulting essentials.', 'chapters': [{'end': 303.406, 'segs': [{'end': 49.135, 'src': 'embed', 'start': 4.394, 'weight': 0, 'content': [{'end': 5.194, 'text': 'Do you hate your boss??', 'start': 4.394, 'duration': 0.8}, {'end': 6.275, 'text': 'Do you hate your job??', 'start': 5.414, 'duration': 0.861}, {'end': 7.795, 'text': 'Do you need a job to hate??', 'start': 6.515, 'duration': 1.28}, {'end': 13.778, 'text': 'Well, for the low, low price of free yes, I said, for the low, low price of free, we can teach you how to be your own boss.', 'start': 8.055, 'duration': 5.723}, {'end': 17.119, 'text': 'Do you want to be an IT computer consultant? We can teach you how to do it.', 'start': 13.798, 'duration': 3.321}, {'end': 19.4, 'text': 'For how much? For free.', 'start': 17.419, 'duration': 1.981}, {'end': 21.261, 'text': 'Yes, stay tuned to learn more.', 'start': 19.78, 'duration': 1.481}, {'end': 33.526, 'text': 'Too many people think that becoming a consultant is a very difficult and complicated and hard, horrible process.', 'start': 26.263, 'duration': 7.263}, {'end': 39.266, 'text': 'Becoming a consultant is actually a very, very easy thing to do.', 'start': 34.622, 'duration': 4.644}, {'end': 44.37, 'text': 'I became a consultant completely by accident way back when, what, six or seven years ago.', 'start': 40.207, 'duration': 4.163}, {'end': 48.254, 'text': 'I was out of work after the dot-com boom during the bust.', 'start': 45.451, 'duration': 2.803}, {'end': 49.135, 'text': 'I was laid off.', 'start': 48.334, 'duration': 0.801}], 'summary': 'Learn to be an it consultant for free and become your own boss easily.', 'duration': 44.741, 'max_score': 4.394, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R44394.jpg'}, {'end': 117.54, 'src': 'embed', 'start': 92.701, 'weight': 1, 'content': [{'end': 99.067, 'text': "It wasn't complicated, it wasn't hard and literally I just walked into it.", 'start': 92.701, 'duration': 6.366}, {'end': 104.634, 'text': 'This little class is going to teach you how to be an IT computer consultant.', 'start': 101.132, 'duration': 3.502}, {'end': 108.096, 'text': "Like I say, it's not hard, it's not complicated.", 'start': 104.994, 'duration': 3.102}, {'end': 111.297, 'text': 'You just have to be willing to do certain things.', 'start': 108.516, 'duration': 2.781}, {'end': 114.239, 'text': 'So if you want certain rewards, you have to do certain things.', 'start': 111.697, 'duration': 2.542}, {'end': 117.54, 'text': 'And this little class is going to teach you what you need.', 'start': 114.799, 'duration': 2.741}], 'summary': 'Learn to be an it computer consultant easily by doing specific things. simple and rewarding.', 'duration': 24.839, 'max_score': 92.701, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R492701.jpg'}, {'end': 166.712, 'src': 'embed', 'start': 140.984, 'weight': 3, 'content': [{'end': 148.546, 'text': "Let me tell you, the only piece of equipment that you need when you're starting out your little IT computer consulting company is this.", 'start': 140.984, 'duration': 7.562}, {'end': 152.244, 'text': 'A screwdriver.', 'start': 151.604, 'duration': 0.64}, {'end': 156.047, 'text': 'Actually one of these really cool fancy flip it around screwdrivers.', 'start': 152.445, 'duration': 3.602}, {'end': 157.487, 'text': "That's all you need.", 'start': 156.847, 'duration': 0.64}, {'end': 161.91, 'text': "I've done probably 90% of my work.", 'start': 158.948, 'duration': 2.962}, {'end': 166.712, 'text': "I walked into the client's office with a pad of paper and this little guy.", 'start': 161.93, 'duration': 4.782}], 'summary': '90% of it work done with a flip-around screwdriver and a pad of paper.', 'duration': 25.728, 'max_score': 140.984, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R4140984.jpg'}, {'end': 222.631, 'src': 'embed', 'start': 189.798, 'weight': 5, 'content': [{'end': 192.58, 'text': "and they wind up with a lot of tools that don't get used.", 'start': 189.798, 'duration': 2.782}, {'end': 202.787, 'text': "Rule number one, the biggest rule when you're starting your business is never buy anything that doesn't bring you back money.", 'start': 194.381, 'duration': 8.406}, {'end': 213.606, 'text': "know, don't buy a tool unless you actually need the tool to fix a problem that a client is paying you for.", 'start': 206.021, 'duration': 7.585}, {'end': 222.631, 'text': "most of you that are watching this, this video live in an area with things like walmart's and staples and home depots and whole nine yards.", 'start': 213.606, 'duration': 9.025}], 'summary': 'Rule number one: only buy tools that bring back money.', 'duration': 32.833, 'max_score': 189.798, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R4189798.jpg'}], 'start': 4.394, 'title': 'It consulting success', 'summary': "Covers strategies to become an it computer consultant for free, highlighting the speaker's personal experience of success after being laid off during the dot-com bust, and outlines how minimal equipment can lead to significant earnings, with the speaker's experience of paying off bills within one month and achieving comfortable living within three months.", 'chapters': [{'end': 49.135, 'start': 4.394, 'title': 'Become your own boss for free', 'summary': 'Discusses how to become an it computer consultant for free, emphasizing the ease of the process and the personal experience of the speaker being laid off during the dot-com bust.', 'duration': 44.741, 'highlights': ['Becoming a consultant is a very easy thing to do, as mentioned by the speaker who became one completely by accident after being laid off during the dot-com bust.', 'The chapter emphasizes the opportunity to become an IT computer consultant for free, challenging the misconception that it is a difficult and complicated process.', 'The speaker offers to teach people how to be their own boss and become IT computer consultants for free, highlighting the accessibility and affordability of the opportunity.']}, {'end': 303.406, 'start': 49.435, 'title': 'It consulting: start small, earn big', 'summary': "Outlines how starting an it consulting business with minimal equipment like a screwdriver and a basic computer can lead to significant earnings, as evidenced by the speaker's experience of paying off bills within one month and living comfortably within three months.", 'duration': 253.971, 'highlights': ["The speaker's experience of starting an IT consulting business with minimal equipment and quickly paying off bills and living comfortably within three months.", 'Emphasizing the minimal equipment needed to start an IT consulting business, such as only requiring a screwdriver and a basic computer with a wireless card for troubleshooting, which costs around $500.', "Highlighting the importance of not overspending on unnecessary tools and equipment, as the speaker's tool bag for four years only contained essential items, leading to significant earnings of $85 per hour at client sites.", 'Advising against purchasing unnecessary tools and instead opting to buy tools as needed, which can also be charged to the client, to avoid accumulating unused tools and overspending.', 'Stressing the key rule of never buying anything that does not bring back money when starting an IT consulting business, to ensure prudent financial management and avoid unnecessary expenses.']}], 'duration': 299.012, 'thumbnail': 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'Stressing the key rule of never buying anything that does not bring back money when starting an IT consulting business, to ensure prudent financial management and avoid unnecessary expenses.']}, {'end': 916.615, 'segs': [{'end': 334.708, 'src': 'embed', 'start': 304.286, 'weight': 0, 'content': [{'end': 309.791, 'text': "Of course, you need internet connection at your house, so DSL or Comcast, but that's it.", 'start': 304.286, 'duration': 5.505}, {'end': 310.632, 'text': 'That really is it.', 'start': 309.811, 'duration': 0.821}, {'end': 317.518, 'text': 'You get your screwdriver, you get your laptop computer with a wireless card, and you get DSL connection at your house.', 'start': 311.854, 'duration': 5.664}, {'end': 320.499, 'text': 'Those are the only things you need to start your business.', 'start': 318.018, 'duration': 2.481}, {'end': 327.764, 'text': "Don't buy anymore until you need to.", 'start': 320.94, 'duration': 6.824}, {'end': 334.708, 'text': "The next question that people ask is okay, when you're starting your business, where do you work from??", 'start': 327.784, 'duration': 6.924}], 'summary': 'To start a business, you only need internet connection and a laptop with a wireless card and dsl at home.', 'duration': 30.422, 'max_score': 304.286, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R4304286.jpg'}, {'end': 434.054, 'src': 'embed', 'start': 407.83, 'weight': 3, 'content': [{'end': 413.013, 'text': "so therefore, to them it didn't matter if i had a large building and it doesn't matter for you.", 'start': 407.83, 'duration': 5.183}, {'end': 415.654, 'text': 'i suggest people stay with your own.', 'start': 413.013, 'duration': 2.641}, {'end': 420.176, 'text': 'you know, stay in your own house or apartment until you absolutely need to move out,', 'start': 415.654, 'duration': 4.522}, {'end': 430.171, 'text': 'because the second thing that comes along is many of the tasks that we perform as i.t consultants are very time intensive but not very human,', 'start': 420.176, 'duration': 9.995}, {'end': 431.873, 'text': 'interactive intensive.', 'start': 430.171, 'duration': 1.702}, {'end': 434.054, 'text': "Say you're installing service packs.", 'start': 432.513, 'duration': 1.541}], 'summary': 'Stay in your own house or apartment until you absolutely need to move out, as many it tasks are time-intensive but not very human interactive.', 'duration': 26.224, 'max_score': 407.83, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R4407830.jpg'}, {'end': 591.354, 'src': 'embed', 'start': 565.54, 'weight': 1, 'content': [{'end': 570.742, 'text': "So at home, you already have internet, so you're already paying for that.", 'start': 565.54, 'duration': 5.202}, {'end': 572.423, 'text': "You're probably already paying for a phone line.", 'start': 570.762, 'duration': 1.661}, {'end': 574.123, 'text': "You're already paying for heating and cooling.", 'start': 572.443, 'duration': 1.68}, {'end': 575.664, 'text': "You're already paying for the rent.", 'start': 574.423, 'duration': 1.241}, {'end': 579.227, 'text': "So there's no extra money there.", 'start': 576.966, 'duration': 2.261}, {'end': 582.049, 'text': 'The $800 you will be spending on an office, you get to keep.', 'start': 579.247, 'duration': 2.802}, {'end': 584.17, 'text': "In a business, it's all about the profit.", 'start': 582.489, 'duration': 1.681}, {'end': 591.354, 'text': 'What I tell some people going into being consultants if they say oh but I need more space.', 'start': 585.01, 'duration': 6.344}], 'summary': 'Save $800 by working from home, maximize profit as a consultant.', 'duration': 25.814, 'max_score': 565.54, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R4565540.jpg'}, {'end': 694.211, 'src': 'heatmap', 'start': 628.81, 'weight': 0.903, 'content': [{'end': 631.471, 'text': 'even for conferences and meetings and all of that.', 'start': 628.81, 'duration': 2.661}, {'end': 639.153, 'text': "And as long as you come across as a stand-up person, they don't care if you're working out of your house.", 'start': 632.351, 'duration': 6.802}, {'end': 641.094, 'text': "That's the way it is.", 'start': 640.414, 'duration': 0.68}, {'end': 648.316, 'text': 'The next thing we have to talk about is advertising.', 'start': 646.315, 'duration': 2.001}, {'end': 655.118, 'text': 'You have to advertise to show people that you exist and to tell them who to call or where to call for your IT services.', 'start': 648.496, 'duration': 6.622}, {'end': 659.2, 'text': "The first thing you're going to want to do, as soon as you decide to become a consultant,", 'start': 656.397, 'duration': 2.803}, {'end': 670.793, 'text': 'is create a webpage and get an email page and an email address before you do anything else, because as soon as you start handing out business cards,', 'start': 659.2, 'duration': 11.593}, {'end': 674.035, 'text': "people are going to start using the information that's on those business cards,", 'start': 670.793, 'duration': 3.242}, {'end': 679.58, 'text': 'and so changing that information a month or two into the process is just a pain in the butt.', 'start': 674.035, 'duration': 5.545}, {'end': 683.403, 'text': "It doesn't cost very much for, what, 50, 60 bucks.", 'start': 679.6, 'duration': 3.803}, {'end': 687.766, 'text': "You can have the domain name, the email address, and the website up and running and it's there.", 'start': 683.443, 'duration': 4.323}, {'end': 688.767, 'text': "It doesn't have to be perfect.", 'start': 687.786, 'duration': 0.981}, {'end': 694.211, 'text': "It doesn't have to be the most beautiful website in existence, but you should have a website up just to explain who you are and why you.", 'start': 688.787, 'duration': 5.424}], 'summary': 'To succeed as an it consultant, create a webpage and email address, and advertise to establish your presence and contact information.', 'duration': 65.401, 'max_score': 628.81, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R4628810.jpg'}, {'end': 730.044, 'src': 'embed', 'start': 702.158, 'weight': 2, 'content': [{'end': 708.384, 'text': "They'll send you a thousand very, very nice business cards and depending on what shipping option,", 'start': 702.158, 'duration': 6.226}, {'end': 710.827, 'text': 'you can have them in a couple of days or a couple of weeks.', 'start': 708.384, 'duration': 2.443}, {'end': 713.95, 'text': 'But after you do your website, get your business cards.', 'start': 710.967, 'duration': 2.983}, {'end': 723.139, 'text': 'From this point on, the place that I see that many people run into trouble is they start trying to spend too much money on advertising.', 'start': 714.711, 'duration': 8.428}, {'end': 730.044, 'text': 'They go to the local newspapers and they put in ads and they start trying to do web advertising and they do this and that.', 'start': 724.127, 'duration': 5.917}], 'summary': 'Receive 1000 business cards with fast shipping. avoid overspending on advertising.', 'duration': 27.886, 'max_score': 702.158, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R4702158.jpg'}, {'end': 847.52, 'src': 'heatmap', 'start': 808.833, 'weight': 0.716, 'content': [{'end': 816.675, 'text': 'Some of those clients were one-hour affairs, and some of those clients ended up being $50, 000, $60, 000 clients over the years.', 'start': 808.833, 'duration': 7.842}, {'end': 823.496, 'text': "I don't know what clients you're going to get, but I know you're not going to get any clients unless you go out and, like I said, you knock on doors,", 'start': 817.795, 'duration': 5.701}, {'end': 825.397, 'text': 'you meet people, you hand out your card.', 'start': 823.496, 'duration': 1.901}, {'end': 830.618, 'text': "If you're not doing computer work, you need to be out there advertising that way.", 'start': 826.097, 'duration': 4.521}, {'end': 836.532, 'text': 'One of the good things that I used, I talked about before, were something called pull tab signs.', 'start': 831.885, 'duration': 4.647}, {'end': 847.52, 'text': 'So little half sheet pieces of paper with little iFix computers on it and then underneath You know, my name, the email address, and the phone number.', 'start': 836.672, 'duration': 10.848}], 'summary': 'Some clients became $50,000-$60,000 clients over the years. to get clients, network, advertise, and use pull tab signs.', 'duration': 38.687, 'max_score': 808.833, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R4808833.jpg'}], 'start': 304.286, 'title': 'Starting and running a home-based it consulting business', 'summary': 'Covers the essentials for starting an it consulting business from home, emphasizing the minimal requirements: a dsl connection, a laptop with a wireless card, and a screwdriver. it also discusses the benefits of working from home, including reduced expenses and cost-effective advertising strategies to attract clients.', 'chapters': [{'end': 431.873, 'start': 304.286, 'title': 'Starting an it consulting business', 'summary': 'Emphasizes that starting an it consulting business only requires a dsl connection, a laptop with a wireless card, and a screwdriver. it also highlights the importance of working from home and visiting client sites rather than having a separate office space, as most tasks are time-intensive but not human interaction-intensive.', 'duration': 127.587, 'highlights': ['The only essential requirements to start an IT consulting business are a DSL connection, a laptop with a wireless card, and a screwdriver.', 'Emphasizes the importance of working from home or a personal space rather than investing in a separate office or building.', 'Most tasks for IT consultants are time-intensive but not very human interactive-intensive, suggesting the feasibility of working from home or a personal space.']}, {'end': 916.615, 'start': 432.513, 'title': 'Work-from-home business tips', 'summary': 'Discusses the advantages of running a business from home, including reduced expenses, the ability to multitask during processes, and cost-effective advertising strategies, emphasizing the importance of minimizing unnecessary spending and focusing on low-cost advertising methods to attract clients.', 'duration': 484.102, 'highlights': ['Running a business from home can save up to $800 to $1,000 in expenses compared to renting an office space, making it a cost-effective option for entrepreneurs. Running a business from home eliminates the need to spend on additional office expenses such as telephone, internet connection, and alarm systems, potentially saving up to $800 to $1,000.', 'Multitasking during processes at home allows for increased productivity while carrying out work-related tasks, such as watching a movie while performing work and avoiding unproductive downtime. Working from home allows for multitasking during processes, enabling individuals to engage in productive activities such as watching a movie while performing work tasks, ultimately increasing productivity and efficiency.', 'Emphasizing cost-effective advertising strategies such as creating a website and obtaining business cards, while cautioning against overspending on advertising that may not yield desired results. The chapter emphasizes the importance of adopting cost-effective advertising strategies, such as creating a website and obtaining business cards, and advises against overspending on advertising methods that may not generate substantial returns.']}], 'duration': 612.329, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R4304286.jpg', 'highlights': ['The only essential requirements to start an IT consulting business are a DSL connection, a laptop with a wireless card, and a screwdriver.', 'Running a business from home can save up to $800 to $1,000 in expenses compared to renting an office space, making it a cost-effective option for entrepreneurs.', 'Emphasizing cost-effective advertising strategies such as creating a website and obtaining business cards, while cautioning against overspending on advertising that may not yield desired results.', 'Most tasks for IT consultants are time-intensive but not very human interactive-intensive, suggesting the feasibility of working from home or a personal space.']}, {'end': 1549.95, 'segs': [{'end': 973.02, 'src': 'embed', 'start': 941.194, 'weight': 0, 'content': [{'end': 941.974, 'text': 'Give me your card.', 'start': 941.194, 'duration': 0.78}, {'end': 945.316, 'text': "And in a simple conversation, you've gained a client.", 'start': 942.454, 'duration': 2.862}, {'end': 951.275, 'text': 'I used to go to the bar way too many nights of the week and get snookered.', 'start': 947.614, 'duration': 3.661}, {'end': 955.796, 'text': 'Well, when I would go there, there were a lot of business people that went to the same bar.', 'start': 951.435, 'duration': 4.361}, {'end': 957.916, 'text': 'So, you know, I go there with my buddy.', 'start': 955.896, 'duration': 2.02}, {'end': 961.097, 'text': "We'd be talking, you know, start talking to the person that was beside you.", 'start': 957.976, 'duration': 3.121}, {'end': 965.098, 'text': 'They say, hey, what do you do for a living? I go, oh, I own my own computer business.', 'start': 961.417, 'duration': 3.681}, {'end': 967.139, 'text': 'They go, oh, really? Hey, give me your card.', 'start': 965.398, 'duration': 1.741}, {'end': 969.019, 'text': 'And so I would go out.', 'start': 967.739, 'duration': 1.28}, {'end': 973.02, 'text': 'I would have an amazing, fun, wonderful night drinking, you know, meeting people.', 'start': 969.319, 'duration': 3.701}], 'summary': 'Casual networking at a bar led to gaining clients; exchanged cards in conversation.', 'duration': 31.826, 'max_score': 941.194, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R4941194.jpg'}, {'end': 1050.438, 'src': 'heatmap', 'start': 982.381, 'weight': 1, 'content': [{'end': 986.663, 'text': 'I know a lot of people are very quiet and very introverted, but if you want to be successful,', 'start': 982.381, 'duration': 4.282}, {'end': 992.344, 'text': "you need to learn to talk about your business and then learn how to sell while you're talking about it.", 'start': 986.663, 'duration': 5.681}, {'end': 996.926, 'text': "So if you go to a party, somebody says, what do you do? You go, oh, I'm a computer consultant.", 'start': 992.464, 'duration': 4.462}, {'end': 998.986, 'text': 'Oh, really? What do you work on? XYZ.', 'start': 997.026, 'duration': 1.96}, {'end': 1003.227, 'text': "And that's how you can get business very easily and cheap.", 'start': 999.706, 'duration': 3.521}, {'end': 1008.269, 'text': 'I mean, for a couple of beers or just going to a party, et cetera, you can gain clients.', 'start': 1003.508, 'duration': 4.761}, {'end': 1016.927, 'text': 'Now the next topic is charging your clients for work done.', 'start': 1013.086, 'duration': 3.841}, {'end': 1023.309, 'text': 'The first thing you need to figure out and you need to put this in stone is how much you charge per hour.', 'start': 1017.787, 'duration': 5.522}, {'end': 1026.49, 'text': 'So when I started, I charged $50 per hour.', 'start': 1023.769, 'duration': 2.721}, {'end': 1029.17, 'text': 'As it went on, it went up to $85 per hour.', 'start': 1027.29, 'duration': 1.88}, {'end': 1032.031, 'text': "So you decide how much you're charging per hour.", 'start': 1029.869, 'duration': 2.162}, {'end': 1036.992, 'text': 'And then when people ask you, you just tell them what you charge.', 'start': 1032.891, 'duration': 4.101}, {'end': 1044.896, 'text': "If you haven't figured out what you're willing to charge, things get really weird really quick, because they'll ask you how much you charge.", 'start': 1037.153, 'duration': 7.743}, {'end': 1050.438, 'text': 'then you say something weird, they go, ah, and then it all goes downhill and you lose a sale.', 'start': 1044.896, 'duration': 5.542}], 'summary': 'Introverts need to learn to talk about their business to gain clients; charging $50-$85 per hour leads to successful sales.', 'duration': 68.057, 'max_score': 982.381, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R4982381.jpg'}, {'end': 1132.735, 'src': 'embed', 'start': 1101.418, 'weight': 3, 'content': [{'end': 1103.62, 'text': 'If you still have too much work, charge $85 an hour.', 'start': 1101.418, 'duration': 2.202}, {'end': 1106.061, 'text': 'If you still have too much work, start charging $100 per hour.', 'start': 1103.66, 'duration': 2.401}, {'end': 1115.948, 'text': 'But pick one price, one hourly rate, and then stick with it until you decide to change it.', 'start': 1107.665, 'duration': 8.283}, {'end': 1121.591, 'text': "So don't be thinking about your labor rate during the sales call.", 'start': 1116.068, 'duration': 5.523}, {'end': 1129.033, 'text': "Or, when you walk into the business establishment, don't start thinking well, should I charge these people $50 an hour or $100 an hour??", 'start': 1121.751, 'duration': 7.282}, {'end': 1132.735, 'text': 'You should have already decided that before you start talking to the client.', 'start': 1129.414, 'duration': 3.321}], 'summary': 'Set one hourly rate, such as $85 or $100, and stick with it to avoid confusion during sales calls.', 'duration': 31.317, 'max_score': 1101.418, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R41101418.jpg'}, {'end': 1316.733, 'src': 'heatmap', 'start': 1215.772, 'weight': 0.759, 'content': [{'end': 1224.509, 'text': "So if you ever have to deduct on the invoice that you're giving, like I say, you work five hours, That should be a $500 bill,", 'start': 1215.772, 'duration': 8.737}, {'end': 1225.349, 'text': 'but you only want to charge them $250..', 'start': 1224.509, 'duration': 0.84}, {'end': 1226.871, 'text': 'Always reduce the hours worked, not the amount per hour.', 'start': 1225.349, 'duration': 1.522}, {'end': 1245.96, 'text': "On that, Once you've been doing your work for a while, when you first start out, do hourly billing rate.", 'start': 1226.911, 'duration': 19.049}, {'end': 1246.76, 'text': "It's a lot easier.", 'start': 1246, 'duration': 0.76}, {'end': 1251.763, 'text': 'From there, you want to start going to lump bills.', 'start': 1247.301, 'duration': 4.462}, {'end': 1260.889, 'text': "So, instead of installing a server and billing the client for, let's say, five hours to install the server,", 'start': 1252.184, 'duration': 8.705}, {'end': 1264.651, 'text': "you want to start getting to where you simply say it'll cost $1, 000 to install this server.", 'start': 1260.889, 'duration': 3.762}, {'end': 1272.735, 'text': "or it'll cost $3, 000 to do tune-ups to all 10 of your computers.", 'start': 1266.612, 'duration': 6.123}, {'end': 1277.638, 'text': "It's a lot easier to sell clients on fixed price.", 'start': 1273.836, 'duration': 3.802}, {'end': 1281.3, 'text': "So if you say it's going to be $1, 000 to install a server,", 'start': 1278.318, 'duration': 2.982}, {'end': 1288.504, 'text': "you can end up making a lot more money than you would if you told them that you were only going to bill for what's called time and materials.", 'start': 1281.3, 'duration': 7.204}, {'end': 1297.591, 'text': "If you say I'm going to bill for as many hours as it takes to set up the computer, well, it may only take you six hours,", 'start': 1289.865, 'duration': 7.726}, {'end': 1301.014, 'text': "but in the client's mind it may take you 20, so they're a little scared.", 'start': 1297.591, 'duration': 3.423}, {'end': 1308.041, 'text': "So although it may only cost them $600, let's say, for you to set up the server, they think it may cost them $2, 000 to set up the server.", 'start': 1301.575, 'duration': 6.466}, {'end': 1316.733, 'text': 'It makes it a lot easier for the sale and you end up making a lot more money if you simply, like I said, come up with a fixed price.', 'start': 1309.85, 'duration': 6.883}], 'summary': 'Transition from hourly billing to fixed prices, increasing earnings and client satisfaction.', 'duration': 100.961, 'max_score': 1215.772, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R41215772.jpg'}, {'end': 1277.638, 'src': 'embed', 'start': 1247.301, 'weight': 4, 'content': [{'end': 1251.763, 'text': 'From there, you want to start going to lump bills.', 'start': 1247.301, 'duration': 4.462}, {'end': 1260.889, 'text': "So, instead of installing a server and billing the client for, let's say, five hours to install the server,", 'start': 1252.184, 'duration': 8.705}, {'end': 1264.651, 'text': "you want to start getting to where you simply say it'll cost $1, 000 to install this server.", 'start': 1260.889, 'duration': 3.762}, {'end': 1272.735, 'text': "or it'll cost $3, 000 to do tune-ups to all 10 of your computers.", 'start': 1266.612, 'duration': 6.123}, {'end': 1277.638, 'text': "It's a lot easier to sell clients on fixed price.", 'start': 1273.836, 'duration': 3.802}], 'summary': 'Transition to fixed pricing for services to simplify and improve sales process.', 'duration': 30.337, 'max_score': 1247.301, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R41247301.jpg'}, {'end': 1413.521, 'src': 'embed', 'start': 1387.568, 'weight': 5, 'content': [{'end': 1395.472, 'text': "So, no matter what, Always make sure to get a deposit when you're starting a project that covers at least,", 'start': 1387.568, 'duration': 7.904}, {'end': 1398.353, 'text': "at the bare minimum what you're going to spend on the hardware.", 'start': 1395.472, 'duration': 2.881}, {'end': 1404.156, 'text': "Also, legally, this comes into play because let's say everything goes to hell between you and the client.", 'start': 1398.994, 'duration': 5.162}, {'end': 1405.557, 'text': 'This happens every once in a while.', 'start': 1404.276, 'duration': 1.281}, {'end': 1413.521, 'text': "If they've paid you for the hardware, then legally, in almost all instances, since all they've paid you for is the hardware,", 'start': 1405.997, 'duration': 7.524}], 'summary': 'Always get a deposit covering hardware costs to protect legally in case of conflict.', 'duration': 25.953, 'max_score': 1387.568, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R41387568.jpg'}, {'end': 1453.025, 'src': 'embed', 'start': 1426.576, 'weight': 6, 'content': [{'end': 1432.38, 'text': "So bare metal, get the deposit for the amount of hardware that you're going to buy for the client.", 'start': 1426.576, 'duration': 5.804}, {'end': 1435.743, 'text': 'The last thing is everybody wants to take credit cards now.', 'start': 1432.901, 'duration': 2.842}, {'end': 1439.738, 'text': 'Try to not do this for as long as possible.', 'start': 1437.697, 'duration': 2.041}, {'end': 1445.781, 'text': "Credit cards cost a tremendous amount of money and they're not really worth it for small IT consultants.", 'start': 1440.018, 'duration': 5.763}, {'end': 1453.025, 'text': "You're going to be paying anywhere between $30 to $50 per month simply for the privilege of accepting credit cards for the system.", 'start': 1446.381, 'duration': 6.644}], 'summary': 'Avoid accepting credit cards as they cost $30-$50/month, not worth for small it consultants.', 'duration': 26.449, 'max_score': 1426.576, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R41426576.jpg'}], 'start': 917.375, 'title': 'Networking and it consulting rates', 'summary': "Discusses leveraging social settings for client acquisition, emphasizing the speaker's experience in gaining clients for his computer consulting business. it also covers setting it consulting rates, emphasizing fixed hourly rates, lump billing, deposits for hardware expenses, and avoiding credit card payments due to high costs and chargeback risks.", 'chapters': [{'end': 1003.227, 'start': 917.375, 'title': 'Networking for business success', 'summary': "Discusses how to leverage social settings to gain clients, emphasizing the importance of promoting one's business and engaging in conversations about it, which ultimately leads to acquiring clients and generating income, as demonstrated by the speaker's experience of gaining clients by highlighting his computer consulting business at social gatherings.", 'duration': 85.852, 'highlights': ['The speaker gained clients by promoting his computer consulting business in social settings, leading to acquiring clients and generating income.', "The importance of promoting one's business and engaging in conversations about it is emphasized, as it can lead to acquiring clients and generating income.", "Networking in social settings, such as bars and parties, can be a fruitful way of gaining clients and growing one's business."]}, {'end': 1549.95, 'start': 1003.508, 'title': 'Setting it consulting rates', 'summary': 'Discusses setting it consulting rates, emphasizing the importance of charging a fixed hourly rate, transitioning to lump billing, obtaining deposits for hardware expenses, and avoiding credit card payments due to high costs and chargeback risks.', 'duration': 546.442, 'highlights': ['Always charge a fixed hourly rate and stick with it until you decide to change it, to avoid client confusion and negotiation of labor rates. Emphasizes the importance of setting a fixed hourly rate and sticking with it to avoid confusion and negotiation during sales calls. Recommends adjusting the rate only after evaluating its adequacy.', 'Transition from hourly billing to lump billing for larger projects to simplify sales and potentially earn more revenue. Suggests moving from hourly billing to fixed lump billing for larger projects to simplify sales and potentially increase earnings, compared to billing for time and materials.', 'Get a deposit for hardware expenses to mitigate potential losses if the client defaults on payments, and to simplify the legal process if conflicts arise. Advises obtaining a deposit for hardware expenses to mitigate potential losses if the client defaults on payments and to simplify the legal process in case of conflicts between the consultant and the client.', 'Avoid accepting credit card payments due to high costs and potential chargeback risks, suggesting cash or check payments as preferable alternatives. Discourages accepting credit card payments due to high costs and potential chargeback risks, and recommends cash or check payments as preferable alternatives to avoid financial losses and administrative complexities.']}], 'duration': 632.575, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R4917375.jpg', 'highlights': ['Networking in social settings can lead to acquiring clients and generating income.', "Promoting one's business and engaging in conversations about it is crucial for acquiring clients and generating income.", 'Gaining clients by promoting the computer consulting business in social settings led to acquiring clients and generating income.', 'Always charge a fixed hourly rate and stick with it to avoid client confusion and negotiation of labor rates.', 'Transition from hourly billing to lump billing for larger projects to simplify sales and potentially earn more revenue.', 'Obtaining a deposit for hardware expenses can mitigate potential losses if the client defaults on payments and simplify the legal process in case of conflicts.', 'Avoid accepting credit card payments due to high costs and potential chargeback risks, suggesting cash or check payments as preferable alternatives.']}, {'end': 1981.33, 'segs': [{'end': 1615.44, 'src': 'embed', 'start': 1584.093, 'weight': 0, 'content': [{'end': 1587.835, 'text': 'The FEIN number, the first thing, is your Federal Employment ID number.', 'start': 1584.093, 'duration': 3.742}, {'end': 1593.777, 'text': 'This is a number you need from the IRS whenever you start to have employees.', 'start': 1588.275, 'duration': 5.502}, {'end': 1601, 'text': "So you don't need it until you start to have employees, but you should get it as soon as you can when you start the business,", 'start': 1593.797, 'duration': 7.203}, {'end': 1607.403, 'text': "because when you start dealing with vendors, if you give them an FEIN that tells them you're a real business.", 'start': 1601, 'duration': 6.403}, {'end': 1615.44, 'text': "So, although you may be a completely legitimate real business, that's working out of your house Until you have that FEIN.", 'start': 1607.583, 'duration': 7.857}], 'summary': 'Obtaining a fein is crucial for businesses with employees and vendors.', 'duration': 31.347, 'max_score': 1584.093, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R41584093.jpg'}, {'end': 1661.29, 'src': 'embed', 'start': 1630.411, 'weight': 1, 'content': [{'end': 1633.933, 'text': "because the vendors figure if you're a small business or you're a business,", 'start': 1630.411, 'duration': 3.522}, {'end': 1638.136, 'text': "you're going to give them more sales over the long run than a normal customer.", 'start': 1633.933, 'duration': 4.203}, {'end': 1644.32, 'text': 'A normal customer may buy one computer, where a small business might buy 10 or 20.', 'start': 1638.756, 'duration': 5.564}, {'end': 1649.403, 'text': "So they want to give you a better discount because they hope you're going to give them more business down the road.", 'start': 1644.32, 'duration': 5.083}, {'end': 1655.006, 'text': "So having that FEIN, even if you don't have employees, is a very useful thing.", 'start': 1649.583, 'duration': 5.423}, {'end': 1656.467, 'text': "You don't need it, but it's very useful.", 'start': 1655.046, 'duration': 1.421}, {'end': 1661.29, 'text': 'The next thing is your sales tax number and your reseller certificate.', 'start': 1657.327, 'duration': 3.963}], 'summary': 'Vendors offer better discounts to small businesses expecting more sales in the long run.', 'duration': 30.879, 'max_score': 1630.411, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R41630411.jpg'}, {'end': 1816.981, 'src': 'heatmap', 'start': 1718.545, 'weight': 0.741, 'content': [{'end': 1726.53, 'text': "So It's not as important now with the boom of internet retailers.", 'start': 1718.545, 'duration': 7.985}, {'end': 1730.253, 'text': 'Like I used to buy all of my products from newegg.com.', 'start': 1727.031, 'duration': 3.222}, {'end': 1736.397, 'text': "Their prices were so good for everybody that I didn't need to be a business to deal with them.", 'start': 1730.413, 'duration': 5.984}, {'end': 1746.425, 'text': 'Some of my other vendors, ones that sold specialized computer cases or surveillance systems, or the ones that sold me telephone systems.', 'start': 1737.177, 'duration': 9.248}, {'end': 1749.347, 'text': 'they would only deal with resellers.', 'start': 1746.425, 'duration': 2.922}, {'end': 1754.111, 'text': 'So in order to buy anything at all from them, I had to send them my reseller certificate.', 'start': 1749.587, 'duration': 4.524}, {'end': 1757.914, 'text': "So if I didn't have a reseller certificate, they wouldn't have dealt with me.", 'start': 1754.151, 'duration': 3.763}, {'end': 1759.655, 'text': "It's just that easy.", 'start': 1758.354, 'duration': 1.301}, {'end': 1769.101, 'text': 'So, depending on where you are in your business, This is more or less important, but in order to collect sales tax and then send it to the state,', 'start': 1760.276, 'duration': 8.825}, {'end': 1771.742, 'text': 'you need your sales tax ID number.', 'start': 1769.101, 'duration': 2.641}, {'end': 1775.423, 'text': 'And in order to deal with a lot of vendors, you need that reseller certificate.', 'start': 1772.222, 'duration': 3.201}, {'end': 1784.847, 'text': "Now, the doing business as name here in Maryland, I can just go to the state government building and get one of these for, I think it's like $25.", 'start': 1776.284, 'duration': 8.563}, {'end': 1792.37, 'text': "And what this says is it says that Eli is doing business as, let's say, Eli the computer guy.", 'start': 1784.847, 'duration': 7.523}, {'end': 1798.133, 'text': 'Why this is important is because then I can take that doing business as name to the bank,', 'start': 1793.311, 'duration': 4.822}, {'end': 1806.196, 'text': 'create a business checking account at the bank and now people can write checks to Eli the Computer Guy versus Eli Etherton.', 'start': 1798.133, 'duration': 8.063}, {'end': 1813.139, 'text': "So if somebody wrote out let's say Eli the Computer Guy and gave me a check and I went to the bank to my normal account.", 'start': 1806.477, 'duration': 6.662}, {'end': 1816.981, 'text': "I couldn't cash it because I wasn't Eli the Computer Guy as far as the bank was concerned.", 'start': 1813.139, 'duration': 3.842}], 'summary': 'Internet retailers reduced need for business status. reseller certificate and sales tax id necessary for dealing with vendors.', 'duration': 98.436, 'max_score': 1718.545, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R41718545.jpg'}, {'end': 1775.423, 'src': 'embed', 'start': 1749.587, 'weight': 4, 'content': [{'end': 1754.111, 'text': 'So in order to buy anything at all from them, I had to send them my reseller certificate.', 'start': 1749.587, 'duration': 4.524}, {'end': 1757.914, 'text': "So if I didn't have a reseller certificate, they wouldn't have dealt with me.", 'start': 1754.151, 'duration': 3.763}, {'end': 1759.655, 'text': "It's just that easy.", 'start': 1758.354, 'duration': 1.301}, {'end': 1769.101, 'text': 'So, depending on where you are in your business, This is more or less important, but in order to collect sales tax and then send it to the state,', 'start': 1760.276, 'duration': 8.825}, {'end': 1771.742, 'text': 'you need your sales tax ID number.', 'start': 1769.101, 'duration': 2.641}, {'end': 1775.423, 'text': 'And in order to deal with a lot of vendors, you need that reseller certificate.', 'start': 1772.222, 'duration': 3.201}], 'summary': 'Having a reseller certificate is crucial for dealing with vendors and collecting sales tax.', 'duration': 25.836, 'max_score': 1749.587, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R41749587.jpg'}, {'end': 1825.446, 'src': 'embed', 'start': 1793.311, 'weight': 5, 'content': [{'end': 1798.133, 'text': 'Why this is important is because then I can take that doing business as name to the bank,', 'start': 1793.311, 'duration': 4.822}, {'end': 1806.196, 'text': 'create a business checking account at the bank and now people can write checks to Eli the Computer Guy versus Eli Etherton.', 'start': 1798.133, 'duration': 8.063}, {'end': 1813.139, 'text': "So if somebody wrote out let's say Eli the Computer Guy and gave me a check and I went to the bank to my normal account.", 'start': 1806.477, 'duration': 6.662}, {'end': 1816.981, 'text': "I couldn't cash it because I wasn't Eli the Computer Guy as far as the bank was concerned.", 'start': 1813.139, 'duration': 3.842}, {'end': 1817.861, 'text': "I'm Eli Etherton.", 'start': 1817.021, 'duration': 0.84}, {'end': 1825.446, 'text': 'Having a doing business as name allows you to get a business account with the bank.', 'start': 1819.902, 'duration': 5.544}], 'summary': "A 'doing business as' name allows for a business account, enabling checks to be written to the business name.", 'duration': 32.135, 'max_score': 1793.311, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R41793311.jpg'}, {'end': 1881.141, 'src': 'embed', 'start': 1854.469, 'weight': 6, 'content': [{'end': 1859.613, 'text': 'The final question you can ask is whether or not you should become a corporation, an LLC.', 'start': 1854.469, 'duration': 5.144}, {'end': 1868.048, 'text': "What I have found as a computer consultant is it's probably not worth it, at least in the beginning.", 'start': 1862.015, 'duration': 6.033}, {'end': 1874.074, 'text': "When you're a bigger business, like I said when I had seven employees, then you definitely want to become a corporation,", 'start': 1869.069, 'duration': 5.005}, {'end': 1877.397, 'text': 'because it gives you a lot of insulation from legal problems.', 'start': 1874.074, 'duration': 3.323}, {'end': 1881.141, 'text': "So if your employee does something really stupid, they can't come back and sue you.", 'start': 1877.457, 'duration': 3.684}], 'summary': 'As a computer consultant, becoming a corporation may not be worth it initially, but is beneficial when the business grows to have seven employees, providing insulation from legal problems.', 'duration': 26.672, 'max_score': 1854.469, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R41854469.jpg'}], 'start': 1549.95, 'title': 'Business identification and setup essentials', 'summary': 'Delves into the significance of irs fein, sales tax number, and reseller certificate for businesses, emphasizing the need for an fein for credibility and favorable vendor relationships, along with essentials like sales tax id, reseller certificate, and considerations for business structure.', 'chapters': [{'end': 1649.403, 'start': 1549.95, 'title': 'Essential business identification and benefits', 'summary': 'Discusses the essential identification numbers for businesses such as irs fein, sales tax number, and reseller certificate, emphasizing the importance of obtaining an fein for credibility and favorable vendor relationships.', 'duration': 99.453, 'highlights': ['Obtaining an FEIN is crucial for establishing credibility and receiving favorable treatment from vendors, as small businesses often receive better deals due to the potential for increased sales volume. Highlighting the significance of obtaining an FEIN for credibility and favorable vendor relationships, as small businesses stand to receive better deals due to the potential for increased sales volume.', 'Vendors are more inclined to offer better discounts to small businesses with the expectation of increased future sales, compared to regular customers. Explaining how vendors are motivated to offer better discounts to small businesses, anticipating increased sales volume in the future.', 'The FEIN number is essential for businesses with employees and provides legitimacy when dealing with vendors. Emphasizing the necessity of the FEIN number for businesses with employees and its role in establishing legitimacy when dealing with vendors.']}, {'end': 1981.33, 'start': 1649.583, 'title': 'Business setup essentials', 'summary': 'Covers the essential components of setting up a business, including obtaining a fein number, sales tax id, reseller certificate, doing business as name, and considerations for becoming a corporation or llc.', 'duration': 331.747, 'highlights': ['Obtaining a FEIN number is very useful for a business, even if it does not have employees. Having a FEIN number is highly beneficial for a business, even without employees.', 'Obtaining a sales tax number and reseller certificate is essential for businesses to deal with vendors and collect sales tax. Obtaining a sales tax number and reseller certificate is crucial for businesses to transact with vendors and collect sales tax.', 'Having a doing business as name allows for creating a business checking account and provides a professional identity for the business. A doing business as name facilitates the creation of a business checking account and establishes a professional identity for the business.', 'Considerations for becoming a corporation or LLC are more relevant for larger businesses, providing insulation from legal problems and liability. Becoming a corporation or LLC is more pertinent for larger businesses, offering protection from legal issues and liability.']}], 'duration': 431.38, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R41549950.jpg', 'highlights': ['Obtaining an FEIN is crucial for establishing credibility and receiving favorable treatment from vendors, as small businesses often receive better deals due to the potential for increased sales volume.', 'Vendors are more inclined to offer better discounts to small businesses with the expectation of increased future sales, compared to regular customers.', 'The FEIN number is essential for businesses with employees and provides legitimacy when dealing with vendors.', 'Obtaining a FEIN number is very useful for a business, even if it does not have employees.', 'Obtaining a sales tax number and reseller certificate is essential for businesses to deal with vendors and collect sales tax.', 'Having a doing business as name allows for creating a business checking account and provides a professional identity for the business.', 'Considerations for becoming a corporation or LLC are more relevant for larger businesses, providing insulation from legal problems and liability.']}, {'end': 3121.593, 'segs': [{'end': 2190.499, 'src': 'heatmap', 'start': 2126.23, 'weight': 0, 'content': [{'end': 2133.613, 'text': 'And then once the system is set up, then they feel you lied to them and it gets bad really quick.', 'start': 2126.23, 'duration': 7.383}, {'end': 2137.354, 'text': 'So always be very conservative with what you say.', 'start': 2134.373, 'duration': 2.981}, {'end': 2139.915, 'text': 'Always under promise, over deliver.', 'start': 2137.514, 'duration': 2.401}, {'end': 2142.716, 'text': 'You always want your system to do more than they expect.', 'start': 2139.935, 'duration': 2.781}, {'end': 2144.656, 'text': "If it does more than they expect, they're happy.", 'start': 2142.776, 'duration': 1.88}, {'end': 2147.457, 'text': "If it does less than they expect, it's bad.", 'start': 2144.776, 'duration': 2.681}, {'end': 2150.418, 'text': 'So under promise, over deliver.', 'start': 2148.317, 'duration': 2.101}, {'end': 2164.232, 'text': "So along the lines of under-promise and over-deliver is your liability while you're working on your client systems.", 'start': 2155.307, 'duration': 8.925}, {'end': 2172.336, 'text': 'Remember, if you make any mistakes and you delete any data and you do something really dumb, you are liable for that.', 'start': 2165.092, 'duration': 7.244}, {'end': 2179.58, 'text': 'In this industry, just like lawyers and doctors, if you decide to go out and get insurance,', 'start': 2173.237, 'duration': 6.343}, {'end': 2183.002, 'text': 'one of the types of insurance you have to get is errors and omissions.', 'start': 2179.58, 'duration': 3.422}, {'end': 2190.499, 'text': "What does that mean? Errors and omissions means it's liability insurance in case you make a mistake.", 'start': 2183.976, 'duration': 6.523}], 'summary': 'Always under promise, over deliver to exceed expectations and mitigate liability.', 'duration': 50.564, 'max_score': 2126.23, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R42126230.jpg'}, {'end': 2243.579, 'src': 'embed', 'start': 2214.568, 'weight': 3, 'content': [{'end': 2219.329, 'text': "So, whenever you're dealing with your clients' computers, just be very, very, very careful,", 'start': 2214.568, 'duration': 4.761}, {'end': 2225.011, 'text': 'because if you do something dumb I mean even a little thing you can be liable for a lot of money.', 'start': 2219.329, 'duration': 5.682}, {'end': 2232.053, 'text': 'A lot of these databases that are out there, that contain client information or inventory information.', 'start': 2225.411, 'duration': 6.642}, {'end': 2235.114, 'text': 'I mean they can be destroyed with a single mouse click.', 'start': 2232.053, 'duration': 3.061}, {'end': 2237.655, 'text': "And they're worth a lot of money.", 'start': 2236.734, 'duration': 0.921}, {'end': 2243.579, 'text': 'I mean, that might be worth $50, 000 to $500, 000 for some little database that you can destroy in the blink of an eye.', 'start': 2237.715, 'duration': 5.864}], 'summary': "Handle clients' computers carefully; a single mistake can cost $50,000 to $500,000 for database damage.", 'duration': 29.011, 'max_score': 2214.568, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R42214568.jpg'}, {'end': 2402.465, 'src': 'embed', 'start': 2377.251, 'weight': 4, 'content': [{'end': 2384.975, 'text': 'Written contracts, you can either have a lawyer write those up or you can write it up yourself or kind of steal it from somewhere.', 'start': 2377.251, 'duration': 7.724}, {'end': 2386.636, 'text': 'You can do a lot of copy and paste nowadays.', 'start': 2384.995, 'duration': 1.641}, {'end': 2395.641, 'text': "What the written contracts do is it says exactly what you are to provide and how much they're going to spend for that.", 'start': 2387.116, 'duration': 8.525}, {'end': 2402.465, 'text': 'These can be very good if they are written correctly and they can be really horrible if they are not written correctly.', 'start': 2396.261, 'duration': 6.204}], 'summary': 'Written contracts define services and costs, crucial for business agreements.', 'duration': 25.214, 'max_score': 2377.251, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R42377251.jpg'}, {'end': 2513.729, 'src': 'embed', 'start': 2487.151, 'weight': 5, 'content': [{'end': 2496.02, 'text': "So depending on what your skill set is, maybe you'll fix computers or maybe you'll fix telephone systems, maybe you'll sell computers, sell servers.", 'start': 2487.151, 'duration': 8.869}, {'end': 2499.722, 'text': "It really all depends on what you're capable of doing.", 'start': 2496.42, 'duration': 3.302}, {'end': 2505.465, 'text': "Obviously, if you don't know anything about building websites, you're not going to build websites for people.", 'start': 2500.282, 'duration': 5.183}, {'end': 2513.729, 'text': "But as you gain more experience, of course, you'll learn how to sell more products and provide more services to your clients.", 'start': 2506.525, 'duration': 7.204}], 'summary': 'It professionals can specialize in fixing computers, telephone systems, or selling products, depending on their skill set and experience.', 'duration': 26.578, 'max_score': 2487.151, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R42487151.jpg'}, {'end': 2542.461, 'src': 'embed', 'start': 2521.592, 'weight': 6, 'content': [{'end': 2532.016, 'text': "what services and products you have to make sure that you don't start offering so many services and products that you can't keep up with any of them and that you're still making money.", 'start': 2521.592, 'duration': 10.424}, {'end': 2542.461, 'text': "So sometimes it's easier to offer very, very, very, very few products or services, but do it very well and make sure everybody comes to you.", 'start': 2532.317, 'duration': 10.144}], 'summary': 'Offer few products/services, do it well, ensure profitability.', 'duration': 20.869, 'max_score': 2521.592, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R42521592.jpg'}, {'end': 2625.188, 'src': 'embed', 'start': 2591.496, 'weight': 7, 'content': [{'end': 2599.761, 'text': 'that these products and services add to how much money you make and you can really provide for them well.', 'start': 2591.496, 'duration': 8.265}, {'end': 2607.667, 'text': "Now as you're building your business, you may find that you need help.", 'start': 2604.665, 'duration': 3.002}, {'end': 2610.769, 'text': 'And so you need employees or you need contractors.', 'start': 2608.007, 'duration': 2.762}, {'end': 2616.459, 'text': "Oh, employees and contractors, well, they're their own kettle of fish.", 'start': 2612.154, 'duration': 4.305}, {'end': 2625.188, 'text': 'Dealing with employees, hiring employees, all of that is far outside the realm of this class.', 'start': 2619.882, 'duration': 5.306}], 'summary': 'Business growth leads to need for employees or contractors.', 'duration': 33.692, 'max_score': 2591.496, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R42591496.jpg'}, {'end': 2768.176, 'src': 'embed', 'start': 2743.423, 'weight': 8, 'content': [{'end': 2749.785, 'text': 'Within three, I had a nice little apartment, was drinking fine, fine beer and eating organic food from Whole Foods.', 'start': 2743.423, 'duration': 6.362}, {'end': 2759.334, 'text': "It really is that easy if you just follow some of these steps and if you don't do the stupid things that everybody does.", 'start': 2750.592, 'duration': 8.742}, {'end': 2768.176, 'text': 'I mean, like I say, is you can work out of your house, you can work out of the basement of your house and that is 100% completely okay.', 'start': 2759.614, 'duration': 8.562}], 'summary': 'Achieved success in 3 years with home-based business, healthy lifestyle.', 'duration': 24.753, 'max_score': 2743.423, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R42743423.jpg'}], 'start': 1981.391, 'title': 'It consulting essentials', 'summary': 'Discusses the significance of under-promising in it consulting to prevent financial losses, the importance of conservative client communication, liability management, and securing business deals through well-written contracts and selective service offerings.', 'chapters': [{'end': 2069.333, 'start': 1981.391, 'title': 'Importance of under-promising in it consulting', 'summary': 'Emphasizes the importance of under-promising and over-delivering in it consulting to avoid potential financial losses and client dissatisfaction, as misrepresenting system capabilities could result in losing thousands of dollars and being dismissed by the client.', 'duration': 87.942, 'highlights': ['Misrepresenting system capabilities can lead to financial losses and client dissatisfaction, potentially resulting in losing thousands of dollars and being dismissed by the client.', 'Under-promising and over-delivering is crucial in IT consulting to avoid overcommitting and underdelivering, which can result in client dissatisfaction and financial liabilities.', 'Becoming an LLC may involve more hurdles and complexities, with the speaker expressing doubts about its effectiveness in providing additional protection.', 'Incorrectly representing system capabilities can lead to client dissatisfaction and potential financial losses, highlighting the importance of managing client expectations in IT consulting.']}, {'end': 2376.031, 'start': 2070.534, 'title': 'Client communication and liability in it', 'summary': 'Emphasizes the importance of conservative communication with clients to avoid overpromising and underdelivering, and highlights the need for liability insurance and careful handling of client systems to mitigate potential legal risks and financial losses.', 'duration': 305.497, 'highlights': ['Always be conservative with what you say to clients, under promise and over deliver to exceed expectations and ensure client satisfaction. Emphasizes the importance of conservative communication with clients to avoid overpromising and underdelivering, aiming to exceed client expectations for satisfaction.', 'Liability insurance such as errors and omissions is crucial to mitigate the risks of potential lawsuits and financial losses due to mistakes or omissions in client services. Stresses the need for liability insurance like errors and omissions to mitigate potential lawsuits and financial losses from mistakes or omissions in client services.', 'The significance of careful handling of client systems to avoid potential legal liabilities and financial consequences due to mistakes, emphasizing the potential high value of client databases and the need for extreme caution. Emphasizes the significance of careful handling of client systems to avoid potential legal liabilities and financial consequences due to mistakes, highlighting the high value of client databases and the need for extreme caution.', 'Handshake deals offer flexibility but can result in financial losses and difficulties in case of client disputes, emphasizing the downsides of not having written contracts and the risks involved. Discusses the drawbacks of handshake deals, highlighting the flexibility but also the potential for financial losses and difficulties in case of client disputes due to the lack of written contracts.']}, {'end': 3121.593, 'start': 2377.251, 'title': 'Starting as an it consultant', 'summary': 'Highlights the importance of well-written contracts in securing business deals, the need to offer services based on skill set, and the necessity of being selective with services and products to maintain profitability while emphasizing the mindset required for success as an it consultant.', 'duration': 744.342, 'highlights': ["The written contracts do is it says exactly what you are to provide and how much they're going to spend for that. Emphasizes the importance of well-written contracts in specifying services and costs.", "Depending on what your skill set is, maybe you'll fix computers or maybe you'll fix telephone systems, maybe you'll sell computers, sell servers. Stresses the need to offer services and products based on one's capabilities and expertise.", "It's easier to offer very few products or services, but do it very well and make sure everybody comes to you, then have lots of products and services but not really make any money. Advises on being selective with services and products to maintain profitability and efficiency.", "Employees and contractors, well, they're their own kettle of fish. Highlights the complexities of dealing with employees and contractors in a business setting.", "It really is that easy if you just follow some of these steps and if you don't do the stupid things that everybody does. Encourages following specific steps and avoiding common mistakes for successful business establishment."]}], 'duration': 1140.202, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/W8aFa16S1R4/pics/W8aFa16S1R41981391.jpg', 'highlights': ['Misrepresenting system capabilities can lead to financial losses and client dissatisfaction, potentially resulting in losing thousands of dollars and being dismissed by the client.', 'Under-promising and over-delivering is crucial in IT consulting to avoid overcommitting and underdelivering, which can result in client dissatisfaction and financial liabilities.', 'Liability insurance such as errors and omissions is crucial to mitigate the risks of potential lawsuits and financial losses due to mistakes or omissions in client services.', 'The significance of careful handling of client systems to avoid potential legal liabilities and financial consequences due to mistakes, emphasizing the potential high value of client databases and the need for extreme caution.', "The written contracts do is it says exactly what you are to provide and how much they're going to spend for that.", "Depending on what your skill set is, maybe you'll fix computers or maybe you'll fix telephone systems, maybe you'll sell computers, sell servers.", "It's easier to offer very few products or services, but do it very well and make sure everybody comes to you, then have lots of products and services but not really make any money.", "Employees and contractors, well, they're their own kettle of fish.", "It really is that easy if you just follow some of these steps and if you don't do the stupid things that everybody does."]}], 'highlights': ["The speaker's experience of starting an IT consulting business with minimal equipment and quickly paying off bills and living comfortably within three months.", 'Emphasizing the minimal equipment needed to start an IT consulting business, such as only requiring a screwdriver and a basic computer with a wireless card for troubleshooting, which costs around $500.', 'Running a business from home can save up to $800 to $1,000 in expenses compared to renting an office space, making it a cost-effective option for entrepreneurs.', 'Most tasks for IT consultants are time-intensive but not very human interactive-intensive, suggesting the feasibility of working from home or a personal space.', 'Networking in social settings can lead to acquiring clients and generating income.', 'Always charge a fixed hourly rate and stick with it to avoid client confusion and negotiation of labor rates.', 'Obtaining an FEIN is crucial for establishing credibility and receiving favorable treatment from vendors, as small businesses often receive better deals due to the potential for increased sales volume.', 'Misrepresenting system capabilities can lead to financial losses and client dissatisfaction, potentially resulting in losing thousands of dollars and being dismissed by the client.', 'Liability insurance such as errors and omissions is crucial to mitigate the risks of potential lawsuits and financial losses due to mistakes or omissions in client services.']}