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If you work on your own as a solo entrepreneur, you likely know the feeling of wanting to do more in less time. While hiring new employees would go against the “solo” part of being a solopreneur, there are still plenty of opportunities to scale your business while working and managing things on your own. Here are four strategies you can utilize to continue growing your Business-of-One.
Pick the right tools and apps
Using every minute to the best potential is essential when growing a business on your own. That means staying organized and squeezing out the maximum potential every time you start a work session.
One of the best ways to do so is by picking the right tools and apps for your business needs. I know I could have grown my business a lot faster had I invested a little bit more earlier on. As my business earned more and I invested both time and money into the best tools for my trade, my efficiency and earnings increased dramatically.
For organization, some of the best apps include Asana, Trello, and many specialized competitors that can help you stay on track and know what you need to do next. You may also want to add a customer relationship management (CRM) app to your workflow to keep track of every customer or client interaction and communication from one digital hub. If you sell physical products, a marketing and promotion tool could be prudent.
As a writer, I lean heavily on Google Workspace, Microsoft Office, and advanced spell-checking and grammar-checking tools. I’ve also invested in microphones, cameras, and editing software that allow me to create podcast episodes and videos to supplement written content.
Every industry has unique needs, and every business owner has unique preferences. While you should be careful not to overspend or buy anything you don’t really need, investing in the right tools and apps can unleash a new wave of business success.
The whole point of working on your own for some solo entrepreneurs is the “solo” aspect. But just because you’re a solopreneur doesn’t mean you can’t hire out certain jobs or tasks to free up your time for more productive projects.
For example, most business owners don’t need to spend hours every month handling their own accounting and bookkeeping. That can be completely outsourced. The same goes for building your business’s website, logo design, and other tasks that may not fall in your areas of expertise.
Many solo business owners employ virtual assistants to help with recurring projects or tasks they don’t want to handle on their own.
Focus on what you do best
When I quit my job to take my business full-time, I worked on both written content like this and website development projects. I truly enjoyed doing both but noticed a few months in that my efforts were not scaling as well as I expected. During a routine review of my financial reports, I found an example of the 80/20 rule in my bookkeeping results and shifted around my business priorities.
While I enjoy website design and development, and I’d like to think I’m decent at it, my best business results came from writing. That led me to cut off all website-related work and focus 100% on writing. My business quickly grew in the following months.
As a business owner, you may not find success where you expected. But when you do find an area where your efforts lead to outsized results, that could be the area of your business where you should aim your primary focus.
Pivoting is common for technology and startup businesses when they struggle or find bigger success elsewhere. YouTube started as a dating video app. Groupon grew out of a social activism platform. Photo-sharing site Flickr began as an online video game. It’s OK to change your business model if the change leads to scalable success.
Thanks to Collective, I don’t have to worry about bookkeeping, taxes and other government related tasks and can focus a 100% on my work. If you’re self-employed and need help with legal, tax, bookkeeping and ongoing support, all-in-one place, you’ll love Collective!
Arjun Dev Arora
Strategy, Venture, Technology
Overcoming superhero syndrome as a solopreneur
“Superhero Syndrome” is a business concept where founders feel like they have to act like superheroes and do everything themselves. While doing most everything yourself is the point of running a solo business, you don’t have to let superhero syndrome hold your business back from growth and success.
By tapping into the right tools, focusing on what you do best, and outsourcing the tasks and projects that don’t fall into your core operations, you can build a business that scales and reaches your biggest goals. With a focus on strategically scaling your business, anything is possible.
Eric Rosenberg is a finance, travel, and technology writer in Ventura, California. He is a former bank manager and corporate finance and accounting professional who left his day job in 2016 to take his online side hustle full-time. You can connect with him at Personal Profitability or EricRosenberg.com.