As a solopreneur, you are in charge of everything from the way you brand yourself to building a sufficient book of business.
Your energy and enthusiasm in the first few months will be high as you begin to see the possibilities in your new venture. Over time, though, this initial rush of adrenaline may fade and leave you feeling exhausted handling daily operations.
Don’t give up. You can find balance, maintain your independence, and succeed as a solopreneur. Consider these insights as your guide to achieving manageable success in the first years of business:
- Create a schedule. Many people believe it was Benjamin Franklin who said, “Failing to plan is planning to fail.” In a solopreneur venture, your time is money. As a one-person band, you will need to set aside time for profit-generating work, as well as office administration. Use an app such as Toggl to manage time, and look into solutions for workflow automation to maximize your time during each day.
- Get ahead. As a solopreneur, time away from work can significantly hinder your business. Instead of constantly playing catch up, consider working ahead of schedule as much as possible. Give yourself the freedom to enjoy personal activities when you’ve got an afternoon or a free weekend because you worked really hard during the week.
- Prioritize your health. While the immediacy of a project may lure you into the office at all hours, avoid working beyond your means. Eat regular, nutritious meals, exercise for at least 30 minutes every day, and don’t sacrifice your sleep. Over time, bad habits will catch up to you and may jeopardize your ability to maintain a successful business.
- Consider outsourcing some of your business activities. Outsourcing has become an affordable option for businesses of all shapes and sizes. Let someone else handle your payroll so you can focus on bringing in more leads, or invest in outside marketing while you cater to your current client base.
- Stay hungry for educational opportunities. Work smarter to boost your output and increase the value of your business. Consider investing in solopreneur coaching, regular seminars, and online courses to stay current in the industry and maximize your earning potential.
- Get a handle on money management. Finances are a huge source of stress for individuals and business leaders. As a solopreneur, money management affects both your business and your personal quality of life. Save money and create a buffer for the future as much as possible. Sticking to a budget will reduce stress and improve the financial health of your solopreneur venture.
Whether you decide to hire a solopreneur coach to maximize your potential, or to take some time for yourself every day, make a commitment to do something new for your business on a regular basis. A solopreneur business should ultimately deliver the freedom and success you’ve always wanted.