Transcript of my newsletter from 9th November
One of the benefits of owning your own solo business is that you’re free to grab any opportunity that comes up.
The risk of doing this, though, is that you lose focus.
Yes, you can grab any opportunity that presents itself, but first you must define and establish your core business.
My core business is website design and management, but I’ve done several non-website projects for different clients over the years.
The reason I could do those is because my core business was established and generating revenue.
I had made use of technology and tools that freed up a lot of my time, and the business largely runs itself.
Setting it up like that enabled me to keep growing the website business while completing side projects.
Last week I found some articles from experienced solopreneurs discussing tools that will free up your time, allowing you to focus on the core task of building revenue. They also cover tips on the importance of labelling your business and ways to get started as quickly and effectively as possible.
Whether you’re just getting started, still in the planning stage, or already running your business, there’s some good information in these.
The importance of labelling your business
This article looks at the importance of making sure you label your business in a way that resonates with your potential customers.
Are you a solopreneur? A solo business owner? An independent contractor? A consultant? A freelancer?
Legally they are all the same thing.
The revenue and expense structures for small, one-person businesses are much the same, but to maximise your new business growth the way you label your business should gel with the terminology your customers use.
7 Tips on how to get started
So how do you kick off your new business? It’s like getting a train moving: a lot of effort at the outset but once the business has momentum it’s a lot easier to keep it going.
These tips from 7 different solo business owners describe ways to build the initial momentum and create a brand that will keep it going.
Tools to make solopreneurs more productive
Solo business owners never have enough time.
We have to do all the repetitive day to day tasks of running the business, as well as the marketing, sales and the product or service delivery jobs – it’s no wonder we get frazzled!
This article looks at a range of different tools in three categories – Marketing, Finance and Administration – that handle the repetitive, time consuming tasks, and free us up to concentrate on growing the business.
I use a lot of the tools referred to in this article, and it’s thanks to them that I was able to handle the side projects I referred to earlier, while continuing to operate and grow my website business.
The importance of staying nimble and objective
This article dates back to April this year, but it carries an important message: the need to stay nimble and adjust your business based on your circumstances.
Being solo business owners means that we can be as nimble as we like. We can respond to changes in the economy or, as we’ve seen this year, changes in society, far more quickly and easily than big companies can.
The risk that we have to look out for is losing focus.
The interviewee in this article tells how he changed the way he ran is business, but not the business itself, as the pandemic initially took hold and the economy was turned upside down.
Another song that we used to do regularly in my band member days:
OK, have a great week and please forward this to anyone you think may find it useful!
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Owner – WealthyDragon