How to find clients for your data analytics side hustle
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- Опубліковано 27 лип 2024
- I have been ruuning my own data analytics and data science consultancies for around 5 years and before that I worked for two large agencies (adam&eve/DDB and Wunderman) heading up their data function, and so have a lot of experience in finding and winning clients. I've also done data analytics/ data science as a side hustle and freelanced.
When working for a large brand, it's the brand name which helps in finding clients, or is often the case, the clients find you. But when you are doing your own thing, it's a different story.
From my years of experience I provide some advice on what you can do when you start out, from networking to packaging your services.
In this video, I provide my personal preference and strategy for finding clients, but in another video I will provide my advice on how you can do it in a more traditional way, from cold calling to attending conferences. So subscribe to my channel to look out for that video when I publish it.
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What I do
I currently run my own analytcis consultancy, so if you would like help or advice on data strategy or anything related to data analytics or data science please do reach out to me at shorful@subatomicanalytics.com
Subatomic Analytics - www.subatomicanalytics.com
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What else I do
I am also the Chief Product and Data Officer at a cyber security startup, OutThink, helping them build the worlds first predictive human risk management platform.
OutThink - www.outthink.io
I also serve as a the Chief Data Scientist at Tribal Worldwide (London & Singapore).
Tribal Worldwide London - www.tribalworldwide.co.uk
Tribal Worldwide Singapore - www.ddb.asia/company/tribal-w...
I also serve as a board advisor in all matters related to data to Nelson College London (a privately held alternative education provider) and the National Zakat Foundation (NZF)
Nelson College London - nelsoncollege.ac.uk
NZF - nzf.org.uk
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Please subscribe to my channel.
If you have any questions please do put them in the comments below and I will answer them in the comments or may create a video to answer your question.
Like the video if you enjoyed watching, it helps me understand if the content has been useful and relevant.
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To know more about me, check out my LinkedIn profile: / shorful
This is my Twitter account: / shorful
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The views, opinions and position in this video (and other videos on my UA-cam channel) are my own and no way reflect the views, opinions or position of any company I have worked for, or worked with, in the past or currently.
Pure clarity! Thank you so much Shorful for all your lessons on UA-cam. 👏
I'm glad it's useful. Please keep watching and sharing.
Aiming to start publishing again soon
I understand most of what you explained, and this video is truly a gem on the internet. I'm a data analyst, and when I pitch clients for my side hustle, offering services like customer segmentation and operational insights, they often respond by saying they already have ERP or CRM systems like SAP or Oracle. They don't see the need for a data analyst, as their current systems already provide the necessary information.
I get stuck at this point. How should I respond to such questions? Also, I focus on providing solutions to SME businesses. How can I convince them that data analytics can bring real value to their operations? For example, when I approach a restaurant owner and offer to track their entire operation and provide insights into day-to-day business operations-such as identifying top-selling items-they often say they already know this information and don't see the added value. Could you shed some light on how to pitch my services effectively in these situations?
As an analyst, we can often see opportunities where the client can not. Often, they know top level what their best selling items are or when they are most busy. But analytics can help them understand if their best selling item sells alongside other products, which makes cross selling easier or in their busiest days if they are losing out on any potential opportunities.
However, that will not convince them as most businesses, when they are doing well they don't need analytics as they are doing well. When they are doing badly, they need analytics, but as businesses is bad, they can't afford it.
So you have two options.
1. When approaching a business, don't tell them what you can do. Ask them if they have any challenges or questions they would love to solve or have the answer for. Many of these you can't answer with data, but some will lend themselves to being able to be answered with data. But only if the business owner or senior people in the business are worrying about and ideally believe they can make more money from answering the question or save money.
2. Option two requires taking an element of risk. If you have case studies which show that if you analysed their transactional or customer data you could do something that would increase revenue by X or have savings of Y, then you could propose how much money you can make or save them by just knowing how many transactions or customers they have each month. The risk is that the client may make some or maybe all of the fees contingent on performance.
Finally, evaluate what business you approach. Some, like restaurants, have very small margins, and so if they commission you, that comes out of their profit, so you need a compelling case that you can make them more money.
I am surprised I'm just finding your channel. I have been watching the videos one after the other. Needless to say I've subscribed.
I have been looking for just these kinds of content geared towards beginners and freelancing.
Thank you so much.
Hey, thanks for watching and subscribing
If there is anything you want me to do a video on, just let me know and I will see what I can do.
Keep watching and sharing
Thanks
i need a data analytic expert to support my project , please contact me . i want DA integration on my goat farming project
This is the exact channel I need, unfortunately, I'm just finding out the channel. Thanks for providing great contents
Please keep watching and let me know if there is any content you'd like for me to make
Very Valuable Knowledge
Thanks
Hi Shorful,
I have to say that you have given me great and very helpful insight on the approach to take while starting a firm/hustle, which is something that i was really struggling with.
Would you possibly do a video that addresses pricing in data analytics projects?
Hi
Definitely a good topic for a video.
Very useful ❤
Thank you
Your video is brilliant and very encouraging to start a data analytics company!
Just have a few questions:
What’s the best course to study to understand data analytics function in business to run a data analytics business?
If I don’t have direct data analytics experience but have experience of process improvement techniques as quality assurance analyst is there any way I can learn as I go with the business without having to work at a company as data analyst?
How do you identify if a company doesn’t have a data analytics team if this information is not available on their websites or online content?
Hi
Thank you for watching my video and also for your comment. See below my answers to your questions
-> What’s the best course to study to understand data analytics function in business to run a data analytics business?
If you study any business analytics courses at Masters level, that will set you up to understand data analytics function in business. If you don't want to do a course that lasts 1 year, I would suggest you look at case studies on how data analytics is used in business. Maybe attend some conferences or watch the recordings. I have found practical examples to be of most use.
-> If I don’t have direct data analytics experience but have experience of process improvement techniques as quality assurance analyst is there any way I can learn as I go with the business without having to work at a company as data analyst?
I would not advise it unless you know how about the end to end process of a data analytics project. So even if you have not been a data analyst in a company, if you know the end to end process then you can start your data analytics business. Alternatively, you can find a co-founder who is a data analyst and understands the entire lifecycle of a data analytics project.
-> How do you identify if a company doesn’t have a data analytics team if this information is not available on their websites or online content?
The easiest way is to look in LinkedIn to see if any company has a data analyst as an employee. Search for data analyst and filter on people, then under people filter current company. If no one turns up, then they don't have a data analyst. Maybe you can just search for data and see who turns up or not.
Hope that helped. Good luck with starting a data analytics business. It is a good time to do this.
@@Shorful thank you so much for your helpful insights 😊
Excellent video
Am a year 2 undergrad and I have a query
How do I start an agency at a tender age such as mine or what should I do from now
Am intermediate in ml,ds and eda
Great ambition to have.
There are some challenges to starting an agency when you are so young.
1. Credibility,
Can you prove that you have the knowledge, skills and experience to solve client problems. If you have a particular qualification then that will help, or you can partner with or hire people who are proven experts in the field. Otherwise, you can see if you can build your credibility by doing projects. Which leads to the next part
2. Clients
The best way to win clients is to network and get referrals. You can try and knocking on doors by cold calling but you will up against every other data agency. If your network is not big, see if you can leverage your friends and families network.
There is no easy way of winning clients, it's takes a lot of effort.
3. Expertise
If you can focus on an area where you or your partners are experts, then you can use that as your USP. If you don't have any now, research and area in heavy demand or an underserved area. But without a particular expertise it will be hard to stand out.
4. Pricing
This depends on many factors, but the two you need to consider is that your are competitive and also that you make enough money, otherwise what is the point of having your own agency.
5. Delivery
You must be very confident in all the steps involved in a data project. If you don't know, learn it, shadow people in another agency. You have to know what to do if something goes wrong and how to course correct from a mistake. Clients expect a final project and if you can not deliver you will be finished.
I hope that helps and keep watching my videos for more tips.
@@Shorful You are simply amazing, I know its tough to start an agency but your guidance gives lot more clarity before even thinking of it.
I'm not sure if you've seen this video but more guidance here also.
ua-cam.com/video/w4tK9kDj890/v-deo.html
@@Shorful Marketing part is ok with me but I think first I should get necessary skills to done 80% work.
Thanks
At beginning, how can you know how much is your job worth, talking about money?
That really depends on what level of value you can add and also what country you are from.
A good benchmark is to work out how much your nett salary is and then work backwards to come up with a gross daily rate taking into account all relevant taxes and expenses being a freelancer and how many days you will not be working.
So for example, lets say your take home pay after tax is X, then what you do is work out what tax you would pay as a freelancer, and lets say its 20%, and then you work out other expenses (Y) you might have like say insurance, equipment like laptop, etc.
So you add up X + 30% + Y = Gross pay = Z
So lets say you expect to only work 3/4 of the year, as you spend 1/4 of the year looking for work and also going on holiday, so there is 260 working days in the week (52*5), so 3/4 of that is 195.
So take Z/195 = Day rate
So it all depends on what you think you are worth, and either using your last/most recent salary or what you the market will pay for a the role you are doing, use the nett take home pay as a guide to calculate how much your job is worth.
The same applies if you are starting a company, but you just need to account of more expenses like office costs and admin support, etc.
@@Shorful Thank you so much, I will have in consideration. I’m from Mexico and I’m working as an internship and comparing what I do and what they pay me, I’m thinking launch me as a freelancer.
So I’m taking multiple course to acquire as much knowledge as I can, to have something more robust to offer to the customers.
@@danielllamas2322 HI Daniel, have start your company ?
Need help with the socials for a small talent agency…. Anybody interested pls hit me up🎉
Hey, I am interested! Can I know about the role?
i need a data analytic expert to support my project , please contact me . i want DA integration on my goat farming project
Hi
I don't know how to contact you, so please email me at shorful@bedatasolutions.com
I'd love to learn more about your project, sounds intriguing