Want To Run A Solo Business? Don’t Forget These Things

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. If you’re starting a solo business, there are a couple of key things to keep in mind as it can be a huge undertaking. The following contributed post is thus entitled, Want To Run A Solo Business? Don’t Forget These Things.

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Every day more and more people are deciding that the best choice for them is to walk away from a life of 9 to 5 employment and take their lives into their own hands by starting their own business. And this is pretty understandable. After all, the desire to take charge of your life and pursue something that you’re really passionate about is a pretty universal one. And the great thing is that thanks to the internet, doing so really has never been easier than before. Of course, that doesn’t mean that all of the challenge has been taken out of starting any kind of business. If you’re looking to start a business on your own, there are plenty of things that can make that difficult With that in mind, here are some essential things you need to remember if you’re looking to start a solo business.

The cost

There is no doubt that running any kind of business is one that will always come with at least some degree of necessary financial investment. From the cost of your equipment to the cost of outsourcing certain parts of your business that you’re not equipped to handle, you need to figure out where that money is coming from. Whether you’re investing in the business yourself or you seek investment places like Kickstarter, you need to figure out how you’re going to cover the costs of keeping your business running before you start to turn a profit.

Available resources

One of the best things about running a business in the modern world is how many resources are at your disposal to help you avoid spending too much. From things like social media that allow you to create a strong online marketing presence without spending a single penny to places online where you can get the equipment you need at a reduced price like 123inkjet Canon Cartridges. Being able to save as much money at the beginning of your business is one of the most important things about keeping yourself afloat in the early days.

Burnout

One of the most important things to be aware of as a business owner is that there is always a risk that you’re going to end up putting too much pressure on yourself and burning out. After all, no one can work every hour of the day without it taking some kind of toll on them. Make sure that you learn when to walk away from your business and take a break. Trying to put all of your energy into it is often tempting but is ultimately pretty destructive.

Of course, one of the most important things to remember is that there is no rule that says you have to do everything on your own. Sure, things like outsourcing can be incredibly valuable, but why not consider going into business with someone else. That can often bring about its own set of challenges but partnering up with someone else can be one of the best ways to create a really great small business.

Author: anwaryusef

Anwar Y. Dunbar is a Regulatory Scientist. Being a naturally curious person, he is also a student of all things. He earned his Ph.D. in Pharmacology from the University of Michigan and his Bachelor’s Degree in General Biology from Johnson C. Smith University (JCSU). Prior to starting the Big Words Blog Site, Anwar published and contributed to numerous research articles in competitive scientific journals reporting on his research from graduate school and postdoctoral years. After falling in love with writing, he contributed to the now defunct Examiner.com, and the Edvocate where he regularly wrote about: Education-related stories/topics, Science, Technology, Engineering and Mathematics (STEM), Financial Literacy; as well as conducted interviews with notable individuals such as actor and author Hill Harper. Having many influences, one of his most notable heroes is author, intellectual and speaker, Malcolm Gladwell, author of books including Outliers and David and Goliath. Anwar has his hands in many, many activities. In addition to writing, Anwar actively mentors youth, works to spread awareness of STEM careers, serves on the Board of Directors of the Friends of the David M. Brown Arlington Planetarium, serves as Treasurer for the JCSU Washington, DC Alumni Chapter, and is active in the Dave Ramsey Financial Peace Ministry at the Alfred Street Baptist Church. He also tutors in the subjects of biology, chemistry and physics. Along with his multi-talented older brother Amahl Dunbar (designer of the Big Words logos, inventor and a plethora of other things), Anwar is a “Fanboy” and really enjoys Science-Fiction and Superhero movies including but not restricted to Captain America Civil War, Batman vs. Superman: Dawn of Justice, and Prometheus. He is a proud native of Buffalo, NY.