Are you an emerging solopreneur who chooses to grow her business as smoothly as possible?
Who wouldn’t say yes? While there is no surefire formula for guaranteed success there are well known concepts that you might have heard about that can speed up the learning curve. An excellent resource is a book by Michael Gerber "The E-myth Revisited, why small businesses fail and what can be done about it” (This is a must read for entrepreneur in any stage of their business)
Following are two basic, yet essential myths and tips for you, the emerging solopreneur:
Myth #1:
I created this business and I can make it work as I’m passionate about what I do.
Although passion for your business is great and needed during the tough times no one can do it all alone and according to Michael Gerber and countless other experts this is why the majority of businesses fail. The owner becomes the technician, manager and entrepreneur all wearing different hats and competing with one another. One person, even if very capable will not be a genius in all the differing roles that is takes to run a business. So what can you do?
Ask for help as you can’t do this alone. Solopreneurs are generally highly creative and have plenty of ideas. They also have this flawed idea that they can do everything in their business. Does this sound like control with a capital C?
TIP: What you can do now:
- Leverage your business by building a team. In fact without a team your business will probably not become successful and you will be working all the time. At first this might just be a referral partner or two or a mastermind partner who understands what you do and gives you encouragement. It might be a mentor coach who helps you as you progress from an emerging business owner to an expert. The idea is to start small and build on your successes.
- Outsource work you are not good at leaving you time to do your genius work. When funds are tight you might hire a college student for a few hours a week to help with mailings, general office work, etc. You want to spent time doing what will bring you the greatest return, what you’re the best at and what you love to do.
- You can network to meet others who may eventually play a role in your team. Many feel that networking is essential to getting known and meeting others. You've probably heard of the know, like and trust factor. People do business with you only if they KL& T you. Later, as your business grows, your team may also include office assistants, virtual assistants, accountants, lawyers, etc.
Example:
A chiropractor who was struggling with finding the time to write articles for her website hired a college student who had excellent computer and language skills for $10.00 an hour. She was able to get a newsletter and monthly articles posted to her website that spoke to her target market (pregnant women or new mothers with back strain) The chiropractor later gave informative talks at birthing classes and at a local hospital by partnering with 2 women who were pediatric nurses she had meet through her networking efforts.
Myth #2:
Because I love what I do and I’m good at it, I can be successful without marketing my business. I’m really not a salesperson.
Absolutely not true. Without consistent marketing efforts your business will not become viable. The experts vary on the % of time a person should be marketing. Many state that in the infancy years of a business you need to be marketing anywhere from 50-100% of the time.
TIP: What you can do now:
- Start with something you enjoy doing and do it consistently. If you have a website you can market by writing articles, sending out a newsletter and eventually selling products that you create.
- If you like to talk to groups find organizations that you can speak before. Have a signature speech on a topic that you know well and that helps to establish you as an expert on this topic.
- Think outside the box and find opportunities to be around your target market and offer them something for free with incentives for them to do business with you again.
Example:
A reflexologist partnered with a well know speaker at a non-profit event and gave complimentary foot massages to people who came to the event. She gave out a coupon for another free session and a discount coupon for a follow-up session. She signed up 5 new clients at this event.
Don't fall prey to outdated myths about growing your business. Remember, that passion alone is not enough. Have a plan to leverage all that you do, ask for help and think creatively. Enjoy the journey!