Business StrategyEntrepreneurship

How to Run a Successful One Person Business

Starting a business takes hard work, discipline, resilience, and commitment. Here are some tips that will help you persevere and keep going.

The best advice

The best thing you can do for yourself if you are a solopreneur is to develop a consistent mindset practice so that you stay disciplined about the things that are going to truly move your business forward, be able to remove distractions and reframe any negative thoughts or discouraging moments.

Having a daily mindset practice allows you to stay focused and on track, it enables you can tune out the noise and be intentional with how you grow and manage your business so that all the shiny-objects don't become distracting.

 

The biggest challenge

When you're starting a business by yourself, the biggest challenge as a solopreneur is that you often need to wear many hats when you're just starting out. That means you're the marketing manager, business development, operations, sales, tech, everything. This means you can sometimes spend hours of time learning new processes or skills, which may actually not be the best use of your strengths or time. So you're often challenged by time, by plain lack of knowledge or skills which can really cut into your ability to grow quickly or effectively.

 

What to do as you grow

While you may always be the main person in your business, at some point in order to scale and grow you will need to free up your time. Plain and simple. That means you will need to hire out help, even if it's just a VA to help manage emails or customer service or the little marketing design tasks, or a web developer to manage one part of your business. You need to hire a team to support you if you want to have success without burning out and ultimately free up your time. Hiring a team doesn't have to mean a large permanent team, but having support like a VA, social media manager, business manager can help you focus on what you really need to do in your business and allow you to contribute constructively rather than spending your time and effort working on your business versus in your business.

Managing multiple responsibilities

As a solo entrepreneur being able to juggle many tasks effectively is important. There are many tools that can help you with that, including task management tools, systems that make follow-up or customer management easier and automating processes. In addition to setting up your systems and using tools to help you automate processes, the other thing to do is to prioritize and streamline your list of to-dos. Focus on what is important and urgent using the Eisenhower matrix. If you're juggling multiple tasks it is so important to be able to understand what is truly a priority and what else is a nice-to have. Sort out your list of tasks into delegate, delete, defer or do. Delete what is not important, delegate what you can, defer what is really not a priority and do what is urgent and important.

 

Find a Mentor

My best recommendation as a solo entrepreneur is to find a mentor or coach. It's a valuable investment that can help you stay on track, answer your questions and refocus your efforts if you start to doubt yourself. A coach or mentor can provide that personalized support that you can't always get even in a networking group. If you're interested in fast-tracking your success instead of spinning your wheels trying to figure it out on your own, then a mentor or coach who has been there can often help clarify the path forward.

Reach out if you are ready to stop feeling frazzled so you can grow your business.