How to Become a Successful Solopreneur

How to Become a Successful Solopreneur

Perhaps the most sought after kind of freedom is business autonomy. More and more people are risking everything to go “solo.” I mean, who wouldn’t want to be their own boss? You set your own hours, enjoy all the profits, and most of all, there is no boss breathing down your neck all day. But of course, this is no mean feat. As a lone wolf, you lack the support and amity that comes along with being part of a team. Being short of an extra pair of hands to share the workload could take its toll. To make it work, you need to be financially smart and determined. Luckily for you, I have discovered a few tricks you can use to get ahead.

Maximize on vouchers and discount codes

No matter the trade you dabble in, I hope you’ll agree it pays to be financially smart. And what better way to do that than making the most of vouchers and discounts? It doesn’t matter whether your business is service or goods oriented- I bet there’s a purchase you need to make online, right? Maybe you are a freelance writer in need of a laptop upgrade or a cosmetic specialist in need of a new stock of products.  Before you go splurging all your money on expensive gear, be sure to look at websites like promocodewatch that advertise price cuts for different products. By capitalizing on this, you maintain more cash in your pocket.

Stick to the script

Seeing as you are the sole decision-maker with no one to answer to, it’s easy to fall astray. This can be detrimental to your business. Have a list of short-term and long-term goals and execute plans that focus on these missions. Have a weekly to-do list and be brutal when prioritizing what is critical and what isn’t. Set up specific times of day that you will work and don’t splurge on big ticket items like new cars until you are very sure you can afford them. Your new business will need cash so make sure you plan out your cash flow needs and stick to your plan.

Focus on cash flow and customers. Make sure issues relating to these two should always take precedence. The tasks should also marry in terms of impact and effort. The tasks that require little effort while generating most impact are a no-brainer. It’s best you handle them first. Sometimes you won’t want to focus on one or the other but do it first and get it out of the way – before you do anything else. That way you make sure you get it done.

Do away with the drudge

As your business picks up its pace, you may begin to need a second or third set of hands. I bet you have a backlog of time-consuming low levels tasks with no time to do them, right? It doesn’t matter whether its laundry and cleaning or book keeping, it’s easy to find reasonably priced labor these days. Just outsource it to a freelancer on a short-term basis.  Make use of sites like Task Rabbit, Upwork, or PeoplePerHour.

Get paid on time

Late payments are one of the biggest problems for any solopreneur. It will destabilize your cash flow system and have you chaseing after clients when you have better things to do. Make sure you avoid any of this by setting your terms in writing before you begin any work and invoicing regularly and on a timely basis.

I hope these tips help guide you on your way to a very successful solopreneur enterprise.

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