Two of the key focuses of my blog are Financial Literacy and Money, and Business and Entrepreneurship. Many people have business ideas and eventually become motivated to pursue their entrepreneurial idea. Some people create businesses that thrive while others eventually fold. What are the keys to success? The following contributed post is entitled; How To Grow Your One-Person Business.
* * *
Anyone who has tried to get a business underway knows just how difficult it can be. There are a million and one tasks to take care, and new ones are being added to the list all the time. But in most cases, there’s a team of people around the CEO who are helping to lighten the load and make growing the business more manageable. When you’re running things completely by yourself, then it’s extra difficult. Below, we take a look at some tips that’ll make it easier to grow your company – even if you’re the only employee.
You might have grand plans for your business, but you’re not going to reach the end game of your empire overnight, or at least not with bags of luck. In any case, what’s the rush? Everything will run much smoother if you start small. You’ll feel more control if things aren’t moving beyond your reach. In time, you might want to step up, but you’ll know that when you do, you’re able to handle things yourself. If you take on too much work before you’re ready, you’ll just find that you’re drowning under the pressure. Swim easy!
Outsource Some Tasks
You might be technically a one-person business, but that doesn’t mean you have to do all of the tasks yourself. And you don’t have to hire an employee, either. Instead, look at working with other companies. There are companies who offer outsourced IT support, marketing, accounting, and much more. These can be time-consuming, complicated tasks, and by passing the responsibility onto someone else, you’ll be able to focus on your skills, and grow your business knowing that the important duties are being taken care of by professionals.
It’s possible to cut corners in certain areas of your business, but alas, there’s no substitute for hard work. If you want your business to be a success, you need to put the hours in! And that means being committed. There’ll be times when you have the choice between working on your business or, say, joining friends for a drink at the bar. Here’s where a little bit of discipline will go a long way. If you’re able to reject socializing and stay in to get some work done, you’ll be much more likely to have a successful business. It’s all about selecting deferred gratification over instant gratification. You might miss out on some fun now, but it’ll come back to you in good ways if you get down to work.
Set Monthly Targets
But of course, it’s all good and well sitting in front of a laptop, trying to grow your business, but the proof is in the pudding. To make sure you’re making progress from your efforts, have monthly targets in your sights. It’s much easier to work an extra hour in the evening if you know you have a target to reach.
Stay committed, work hard, and good things will come – for everything else, maybe you can draft in free labor from your friends and family