Are you a solopreneur or an entrepreneur?
There are many motivated, action taking, hardworking warriors in the battlefield of business. Many of these grinders enjoy the freedom of having autonomy over their schedule, flexibility of work, and no boss looking over their shoulder; just absolute freedom of movement.
That all sounds wonderful; however, with every “pro” there is a “con”. Starting or owning a business or multiple ones requires a great amount of work. And being the one completing the tasks takes most, if not all your time.
A survey conducted on behalf of GoDaddy revealed that 41 percent of business owners are drawn back from their break to tend to business matters. 51 percent say they have trouble switching off from work when in their free time. And only 26 percent feel that they have a healthy work life balance.
So before you start a business or complete another year being a solopreneur, read our 5 actions to implement as an entrepreneur.
No. 1. Find Your Tribe.
For starters, entrepreneurship (business ownership) can be a lonely sport. It is highly encouraged that you join a community of like-minded people. You can find these groups locally and online, and with the amount of technology available there is no excuse.
Entrepreneurs, and solopreneurs face many challenges while on the path to growth; so, joining a community will be a great place to bounce ideas, get help solving problems, discuss struggles, and collaborate.
So, brush off the cobwebs, turn on that charm and go find yourself a tribe!
No. 2. Establish Boundaries
Not having co-workers or a boss allows you the flexibility to focus on the tasks you feel need immediate attention. You as the boss know what needs to get done, and so off you go firing on all cylinders. If you are working from home, you can now keep working as late as you please so that you can do it again tomorrow.
It’s very easy to get caught up with working all day. It is specially easy to lose track of time when your workspace and home are under the same roof.
If you have a family at home, it can become much more difficult to explain to them why you are working late or why you don’t have time for movie night. As the boss, it’s important to set boundaries in the workspace. For example, you can establish specific working hours and try to keep true to them. Remember, you don’t have a boss to tell you to work late, because you are the boss.
No. 3. Outsource
You have now established boundaries, but are still feeling burned out. Why could that be? You are working within your established hours and squeezing out as much progress as you possibly can?
When running a business, you face new challenges and are constantly having to problem solve. In addition, you are also handling the market research, accounting, bookkeeping, website maintenance, marketing, speaking with clients, etc.; and if you’re a new business you are working on the articles of organization, registering with the state, getting the EIN, and creating the operating agreement.
Point being is this all takes time. So, consider the best use of your time, and where you can be the most productive.
We highly recommend you seek out experts for the things you are not strong at or rather not do. These experts will become part of your team. Keep in mind that these experts have invested years to become experts, therefore you can focus on your strengths.
No. 4. Leverage
So, you have outsourced the things you aren’t an expert at and have created available time within your established boundaries. You are playing to your strengths and being productive.
Your actions are paying dividend and your business is postured for growth; however, you need a boost of resources to get to the next level.
Remember the community you joined? Your professional network is key to connecting with other professionals and expanding your network. Establishing meaningful relationships with other professionals in your community can generate an element of reciprocity. Creating synergy with other people is a way to leverage each other’s network, knowledge, skills, abilities, and net worth.
No. 5. Team
The strategic focus on your business has afforded you the ability to cultivate your thoughts which ultimately influences a paradigm shift. During the course of your journey you have experienced growth. You have developed great business relationships and have met other colleagues who have similar aspirations as you do. You are ready to team up.
“Team work makes the dream work”; this couldn’t be truer in business.
Many of us have been independent people for a very long time, taking on the world daily. Putting ourselves out there can be a moment of vulnerability, specially when we are used to doing everything ourselves. Nevertheless, we want to continue to grow both professionally and personally.
If you are looking to boost your productivity, boost your network, boost your company, and boost your capital; choosing to change the paradigm in the steps above can make a big difference and can help take you from being a solopreneur to an entrepreneur.