How to Run a Thriving Business as a Solopreneur

Are you running a business on your own? Being a ‘Solopreneur’? At times, it might feel like you’re giving your all just to keep your business running. How can you find the time and energy to pursue new projects and help your business grow? First, it’s important to acknowledge that you just can’t do everything yourself. Utilizing freelancers, external agencies, and local organizations can help you access tech-based help and free up your time for big-picture projects. Here’s “BTYTips” to get started!

Join Your Local Chamber of Commerce

Expanding your business network is a great way to access helpful resources and uncover new opportunities. Consider joining your local Chamber of Commerce to make new business contacts, acquire customer referrals, increase your community visibility, and boost your credibility.

Outsource Cybersecurity

As a solopreneur, you likely don’t have a lot of time to think about cybersecurity readiness. But being able to prevent, identify, and respond to cyber threats is essential for the long-term viability of your business. Consider outsourcing cybersecurity to eliminate cyber threats so you can rest easy. Work with a cybersecurity company that offers robust cybersecurity services including data protection, backup solutions, and disaster recovery. The right cybersecurity service should also help you implement an effective data recovery plan that will enable you to get back up and running quickly in the event of an attack.

Hire Freelancers for Specialized Tasks

Hiring freelancers is another great way to get by as a solopreneur. This will give your business flexible access to specialized talent when and where you need it most. Although freelancer rates tend to be higher compared with those of hourly employees, you’ll save money by only hiring people for specific projects instead of paying to have someone on your team full-time. Freelancers are great for work that can be done remotely, short-term projects, and roles that require highly specialized skills like web development or data analysis.

Find the Right Fit

Ready to start looking for freelancers? First, consider which tasks you need help with the most. Look for qualified candidates who have direct experience with your specific project instead of hiring a jack-of-all-trades. Jobs that are time-consuming or fall outside your skillset tend to be the best candidates for outsourcing. For example, if you’re not familiar with digital marketing, outsource your projects to the specialists at Back To You Marketing.

Set Clear Expectations

Before you start working with a freelancer, be sure to discuss your expectations so you’re both on the same page. Artisan Talent explains that freelancers want clear instructions from their clients. They don’t want to have to guess at what you mean or what you expect of them, so don’t be afraid to over-communicate! Talk to your freelancers about their availability ahead of time and keep in mind that they might charge you for consultations, team meetings, and phone calls.

It’s important to remember that your freelancers are not your employees. There’s a good chance you won’t be the freelancer’s only client, so you cannot expect them to be available at any time. This also means you will need to be flexible with your expectations regarding turnaround times and continuous communication. Try to think of your freelancers as B2B businesses that you’re working with, rather than employees who work for you.

Seek Funding 

Getting funding for your business can be a daunting task, especially if you don’t have much experience with securing loans or lines of credit. However, there are some key steps that you can take to increase your chances of getting the financing that you need. One important factor to consider is your credit report. A good credit score and history will show lenders that you are trustworthy and reliable, which can make them more inclined to provide funding. In addition, it’s important to present a clear and detailed business plan that outlines all of your goals, objectives, and strategies for achieving success.

Just because you’re a solopreneur doesn’t mean you have to run your business completely on your own. Turn to a formation service, freelancers, and professionals in your business network that can provide tech-based help. With a little support from outside experts, you should have no problem growing your one-person business!

 

Guest post: Courtney Rosenfeld