Twenty Set

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I started Twenty Set at the beginning of January and have since been embraced by some of the best blogs in the young professional niche. As a result, I have gotten a few offers from people who want to partner with me or Twenty Set in a variety of ways. Too many offers is a good problem to have, and I’m lucky to garner attention from top young professionals; but I’ve made some important decisions about my blog while it was (is) still in its infancy. I have a six step process I use to evaluate proposals for my blog; though I truly believe this process can work for any proposal, from business to marriage.

Step 1 - Write Down Your Goals

You can’t evaluate a proposal unless you know what you want to achieve with your project or blog.  I had someone contact me after two weeks of writing on Twenty Set, when I didn’t have any idea what I actually wanted for the website.  This forced me to figure out why I was writing, who I wanted to meet, and what opportunities I was seeking.

Step 2 - Listen and Ask Questions

With any proposal, someone will “pitch” to you, either formally or informally.  Don’t accept the proposer’s pitch at face value; instead, use a critical eye to pick out information and ask the important questions. Here are a few questions you should be considering:

• What do I have to give?  This could be time, money, energy, talent, or commitment.  Make sure you actually have these to give, or else there’s not much point in discussing the rest.
• What are the benefits to me?  Sometimes people ask for favors and it is great if you can help them.  It’s always worth knowing what you can gain though, to avoid getting taken advantage of.
• What are the motivations of the proposer?  People have a reason for contacting you - find out what that is.  Most people won’t tell you flat out in detail what they actually want, but force people to be transparent and probe until you get satisfactory answers.
• Where is the project headed in the future?  Thnk strategically, and make sure you are comfortable with a long term commitment.  The degree to delve into this is purely preference; I personally hate surprises, so I want as many details as I can get.
• Why did you choose me?  This seems like a weird question, but it’s revealing, especially of the proposer’s motives.  It also helps you judge your worth to them, which you can compare to their worth to you.
• Where’s the contract?  Read it, understand how it limits you, and know how to terminate it if necessary.

I wouldn’t suggest asking these questions word for word, but as you are listening to the pitch try to pick out these answers.  If they aren’t given, then ask.

Step 3 - Consider Benefits

The benefits you want to consider should be tied directly to your goals. For my blog, these include monetary compensation or networking and career advancement opportunities. Keep in mind that not all networking opportunities are the same - you’ll have to weigh how much someone can help you by looking at the proposer’s credibility and seeing if they have a proven track record.

A Side Note on Credibility - People will often give you an indication of their credibility in the way they pitch something. One thing that amazes me is when people skip simple pleasantries like “Hi, how are you? I’ve been reading your blog, and I like what I’m seeing.” Another thing I hate is when people think I “should” do them a favor, even though they contacted me. Mark Hayward shares some other habits of highly ineffective networkers that would be worth checking out so you know who not to talk to.

Step 4 - Consider Costs

One extra project that takes 2-3 hours of your time per week is not a big deal, but what do you do if you have five extra projects? Your time, talent, and money are valuable resources, so consider how much it will cost you to take on an additional project. Think about what you could do instead to reach your goals, and enxure you can truly get maximum benefit for your time. Concerning your talent, make sure you aren’t diluting your own brand with this project. Also, if you are a freelance writer or web designer, you will do yourself a disservice by giving too much of your work away for free - people will come to expect it and won’t want to pay for your services. Limit YOU as a commodity - it’s better for your career.

Step 5 - Consult With Advisors

We’re young and we don’t know everything. I’m a typical millennial - the first people I call when evaluating any proposal are my parents. For a recent blog proposal, however, I turned to authority bloggers Chris Garrett and Skellie for their advice. Chris is from the UK where he owns a freelance consulting and writing business, and Skellie is also a freelance writer from Australia who has grown her Skelliewag blog to 3000 feed readers in a little over 6 months. Both were happy to help, and each gave me a unique perspective on the proposal in question. The largest benefit for me is they were both able to refer me to useful resources about blogging and they both came up with specific questions I hadn’t thought of earlier. So definitely get a second opinion, preferably from someone who has experience with projects you are interested in undertaking.

Step 6 - Determine Fit

Consider these questions:

• Do the benefits outweigh the costs?
• Do I like the people I will be working with?

If the answers are “yes,” you have a good fit.  Sign the contract, pop open a bottle of champagne.  Otherwise, give the proposer a firm (but kind) ”no.”  In the past, I’ve tried to give proposers feedback, but now I might just refer them to this article.

How do you evaluate proposals?  What other factors do you consider?

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Categories: Entrepreneur
Tags: Deals, Proposals

Monica O'Brien is the founder of Twenty Set, a website about personal and professional growth and development for the Millennial generation. She has been a blogger since 1998 when blogging was still in its “Dear Diary” form and in May 2007 began blogging for personal branding and profit.
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