Focus on the essential
Hasard Lee has this nice prioritization matrix in his book based on Eisenhower's "Urgency vs. Importance" decision making framework.
The Art of Clear Thinking: A Stealth Fighter Pilot's Timeless Rules for Making Tough Decisions
If you're aspiring to go 1099, it's tempting to focus on distractions like setting up a website or doing endless administrative research like learning about tax optimizations and getting insurance.
There is a time and place for that, but if you don't yet have a 1099 gig, you should only be focused on what's essential: things you have to do that aren't time sensitive.
Essential tasks include:
- Generating a profitable target bill rate for your 1099 gig
- Finding out how if your employer is a prime or sub on your current contract
- Developing and cultivating a good relationship with your government client
- Taking coffee meetings with program managers at other companies
- Testing the market to see if you are valuable enough to go 1099 by getting job offers
- Upgrading your work skills
- Scripting out negotiations about your rate
Once you get a verbal agreement to go 1099, then some of the tasks that were formerly distractions become critical, in that the tasks are required and time sensitive.
Yes, you will need business insurance.
Yes, you will need to learn know how fill out a sub-contract.
Yes, you will need to register an LLC and register in SAM.gov.
But you should do these only AFTER you have a 1099 gig.
Otherwise they will just delay you in achieving your 1099 goal.
Want the full playbook? Check out Going 1099.