When starting out in your solopreneur endeavors it is easy to tackle most problems by yourself. It keeps costs down and allows for maximum flexibility and creativity. However, at some point, it will become necessary to obtain the services of other professionals in order to take your business to the next level. Three of the most important investments a solopreneur can make towards this end are a process analytics system, talent acquisition agency, and an accountant that specializes in working with solopreneurs.
Analyzing for Maximum Potential
When starting a business, most solopreneurs do whatever they can to make forward momentum. Unfortunately, this can mean you become accustomed to doing things in ways which are less than optimal. It may not even be something you notice because it is basically effective even if it isn’t efficient. This is where it can be massively beneficial to bring in an outside pair of eyes. Preferably from a group that has no motivation for changing the system other than to provide maximum benefit to you. In other words, not a contractor offering a solution only they or one of their vendors can provide.
Many solopreneurs will shy away from this option because the investment can be substantial. Another alternative is to take continuing education or certification courses to learn a process for objective analyzation and streamlining techniques you can implement on your own, such as Lean Six Sigma. One of the advantages to taking the time to learn to do this for yourself is you will be able to implement the techniques going forward without needing to rely on an outside vendor. It will also make it easier to recognize if the techniques and procedures being used by those you choose to partner with are optimized.
Anyone who has only worked for themselves or others but has never had training when it comes to choosing an employee can quickly find out the process is not as easy as it looks. Sure, you could simply put an advertisement on a job board and hope the best people are looking but that isn’t always the best option.
There are several options that will give you an advantage when it comes to finding the right talent to work with, whether you are looking for someone to help develop software or a virtual assistant to take care of the administrative tasks that are piling up. There are online services that help match employers to the best talent on the market, some software solutions, and books or courses that can help you identify what it is you truly want and need and how to identify it in potential candidates. Anyone who is considering bringing other people in to the business for the first time desperately needs to take the time to do it right. Otherwise, it can derail the business and forward momentum rather than supporting growth.
There are a ton of great options for business accounting software that makes it remarkably easy to jump into running your own business. Many of the best companies offer mobile apps, invoicing, and tax assistance that will likely be sufficient through the first several growth evolutions you experience as a solopreneur.
But at some point, you will hit a wall and realize the amount of money you are paying in taxes every quarter has begun to feel prohibitive. This likely means you are ready for a specialist. While it can be tempting to simply head down to the nearest tax preparation chain store, that’s probably not much better than any decent accounting software you are already using. Instead, you need to find someone who specializes in working with entrepreneurs, solopreneurs, or very small business owners. Preferably someone who has been recommended to you from someone in a similar line of work.
Taking the leap to start your own business was intimidating and it took time to find your footing. You made it through that initial challenge and should consider the next phase of growth in a similar light. It will be challenging at first to trust others to help with the business and it will be scary at first. But eventually, it will lead to greater success and you will ultimately wonder what took you so long to get started.