Contracting - go for higher rate or repeated business?

[Boo]

If you get the opportunity I would recommend doing it for a while as what you can learn in those contracts is priceless.

Like what ?

Boo

[ShandyDrinker]

So you're saying it's satisfying but didn't work out in longer term ?
I'm dreaming of making something big . Be paid for large scale system that I designed, have a group of people that build it for me or something similar. Maybe bidding on tenders is the way to do this ?

Show me a contractor that didn't have dreams like this in their first few gigs that are happily just contracting years later. If you have to ask where to start I can't help thinking its not going to work. The natural go getters will already be ahead of you.

If you do want to start though have a think about what your clients want and can offer rather than what you want to do. You'll spot a model that you can then start to work on to evolve a saleable product.

For me it didn't work out longer term because I was trying to be an everyman and didn't find a niche. I took the approach that I'd just write bespoke systems that people wanted and hopefully the business would scale. It didn't. I ended up spreading myself too thinly between multiple clients and delivery suffered. I should have taken people on or outsourced work but didn't.

The people I know that have been successful have found a particular domain they have become experts in such as telecoms, banking or sports betting systems and then write software that can be sold again and again to high value clients.

It almost sounds to me like you'd be better working in a particular business domain for a while, finding the pain points of that domain and then writing software that can be resold to multiple clients. As NLUK has said the real go-getters are probably doing that already...

[diseasex]

For me it didn't work out longer term because I was trying to be an everyman and didn't find a niche. I took the approach that I'd just write bespoke systems that people wanted and hopefully the business would scale. It didn't. I ended up spreading myself too thinly between multiple clients and delivery suffered. I should have taken people on or outsourced work but didn't.

The people I know that have been successful have found a particular domain they have become experts in such as telecoms, banking or sports betting systems and then write software that can be sold again and again to high value clients.

It almost sounds to me like you'd be better working in a particular business domain for a while, finding the pain points of that domain and then writing software that can be resold to multiple clients. As NLUK has said the real go-getters are probably doing that already...

valuable advice,
I've seen other businesses that are selling software and started exactly the same way.
thank you

[ShandyDrinker]

Like what ?

Boo

There are numerous but a select few...

• Size and scale of systems. Some of the systems I have worked on had components based on everything from .Net and SSIS through to Java, Python, C++, multiple large scale databases and so on.
• Learning how to to deal with completely unreasonable expectations and the false sense of urgency that places like investment banks can foster.
• Ensuring you stay on top of your game in the tech stack of your choice.
• Learning from people that are often as good as if not better than you.
• Working with globally distributed teams.

[BolshieBastard]

I go for the highest rate I can.

If I get the repeat business, fair enough. Neither do I have a problem not working for a few monthsand agents attempting to force me to accept piss poor rates that may be on offer.

Each to their own.

[MrMarkyMark]

You say you want to go into "bigger things", then show that you don't, yet, know what you are currently doing.

Maybe, you shouldn't run before you can walk .

nothing will change except the way we draw (or not) funds?

I'm dreaming of making something big . Be paid for large scale system that I designed, have a group of people that build it for me or something similar. Maybe bidding on tenders is the way to do this ?

[diseasex]

You say you want to go into "bigger things", then show that you don't, yet, know what you are currently doing.

Maybe, you shouldn't run before you can walk .

What's your point? I still strongly believe , in my case, nothing will change with the new budget. T&S or not, dividend tax or not, won't affect me nearly at all. I think there will still be contracts to take and I planned to keep the cash within LTD anyway.

[MrMarkyMark]

What's your point? I still strongly believe , in my case, nothing will change with the new budget. T&S or not, dividend tax or not, won't affect me nearly at all. I think there will still be contracts to take and I planned to keep the cash within LTD anyway.

My point is, is that you are burying your head in the sand, with regards to what is going on.

T&S may start to effect if you head off to do different / bigger things, no?
Especially if you are following the golden goose to London, as you have hinted at ?

I think there will still be contracts to take and I planned to keep the cash within LTD anyway.

Again, I think you are missing the tide of change, how about compulsory IR25, in conjunction with the removal of Entrepreneurs taper relief?

Still feel nice and cosy now?

Obviously, no one knows these will definitely come in, but, make no mistake, Osborne sees 1 man LTD company contractors as low lying fruit.
You are saying you haven't done this for long and to be quite frank, it shows.

HTH.

[diseasex]

My point is, is that you are burying your head in the sand, with regards to what is going on.

T&S may start to effect if you head off to do different / bigger things, no?
Especially if you are following the golden goose to London, as you have hinted at ?


Again, I think you are missing the tide of change, how about compulsory IR25, in conjunction with the removal of Entrepreneurs taper relief?

Still feel nice and cosy now?

Obviously, no one knows these will definitely come in, but, make no mistake, Osborne sees 1 man LTD company contractors as low lying fruit.
You are saying you haven't done this for long and to be quite frank, it shows.

HTH.

I wouldn't get entrepreneurs relief anyway, as I'm investing heavily in funds, and soon in properties too. As long as I won't be benched for a year, contracting will still be better than permieland.

However, time will tell. In the meantime, all I can do is have an eye on oportunities.

[oliverson]

Hi, i'm relatively new to contracting and now considering few options what's next.
I'm Manchester based where rates are fairly low (300-400pd) in my area (.net dev) . However i'm currently with a client that will surely use my skills again in the future.
Previously I was thinking i'd go for London and hunt for 400-700 rates, but there's that option where i would continue picking contracts with smaller companies, as the current one, and aim for getting more repeated business and possibly aim hire people to help if there was enough work
How achievable is that , anyone's got some experience?
Thanks

ha ha, didn't see this until I posted my own thread 'Life after London'.