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Monday, December 23, 2019

Taking The Leap From Solopreneur To Business Owner

If you’ve been a solo business person for some years and you are starting to get tired of the lonely life of a solopreneur, then it may be time to take the plunge into the world of becoming a business owner.

While it may be scary to go from only being responsible for yourself, becoming a business owner may actually be one of the best things you can ever do.

In this post, we are going to introduce a few things you can do to make the transition as easy as possible, and hopefully, by the end, you will feel a little more confident about starting your own empire.

Image Credit - Pexels CC0 Licence

Why Go Big?
In business, it’s important to keep moving forward, and this is so incredibly important for all of the solopreneurs out there.

While going it alone initially may suit you, it’s very easy to burn out and be left exhausted. When it comes to opening your first business, the first thing you can do is delegate, either by outsourcing or hiring.

While some people may see starting a business as a risk, for a seasoned solopreneur, it’s far less of a risk than it is to most. So, if you are a solopreneur and you are wondering which way to turn next, then you should probably be looking towards logic and get ready to start your own business.

Consider Building A Team
While you may be used to working as a solo outfit, one way to start making some changes when starting a business is by bringing on a few employees.

Where you may be skilled in most areas of business, if you have only ever worked alone, employing somebody for the first time can be a daunting and challenging task, so familiarizing yourself with the process is going to be one thing you will need to concentrate on.

You will need to research everything from advertising the job role correctly, all the way through to what questions to ask at an interview.

Consider What You Will Need
When it comes to your new venture, there are some things you will need that you will never have considered when you were a solo outfit.

On the other hand, there are tools that you may have always had at your disposal, that will still be just as important now. Depending on the nature of your business, you may still have the need to travel to clients, and you may also still have a need to process payments from anywhere.

There are so many things you will have to consider, and the most important one of these is where are you going to run your operation? If you are still looking to remain a small business, if you have 2-3 employees, you could consider shared office space.

If you have the need for a larger team, you may need larger premises.

If You Don’t HAVE to have it, then don’t

One universal rule for small businesses is that you will only ever need to furnish your business with the essentials.

The first year in business is going to be incredibly challenging no matter who you are, so making sure you aren’t blowing cash left, right, and centre is essential. Keep your costs down to a minimum, and here are a few ways you can do this:
  • Use a shared internet connection.
  • Don’t have a phone line, use VoIP.
  • Outsource where possible.
  • Rent equipment rather than buy it.
  • Make the most out of social media advertising.
These are just a few ways you can save yourself a ton of cash, doing all of them may not be viable, but doing some of them could really be beneficial to you.

Advertise For Free
From the moment your idea takes action, before your business opens its doors, get online, and start advertising.

Using social media to sell your idea is one of the best ways to get the word out there. Whether you choose to hit Facebook or YouTube, either will be able to give you a great initial boost, and you can start off by using them for free.

It’s as simple as creating a page, asking friends and family to like and share and watch your baby start to grow. While it seems basic, it’s the very least you should be doing before you start to pay for any advertising at all.
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