03 Jan Help for Female Solopreneurs
How to Make It On Your Own
Girlbosses have it pretty good. They have the independence to make decisions without consulting others. The flexibility to work when and how they want. The freedom to take risks. And they get to funnel all of their earnings back into their business instead of distributing profits among a team of employees.
While running a solo business comes with many benefits, it can also be challenging. Where do you find the time to do everything on your ever-growing to-do list? And how can you handle all of your responsibilities without a set of specialized skills? Outsourcing work to tech tools and freelancers is essential for enabling the scalable growth of your one-person business. The EO Wonder Podcast shares some tips to help you get started!
Invest in the Right Tools
Online Legal Tools
According to Hacker Noon, legal mistakes are common among solopreneurs. With so much on your plate, it’s easy to overlook your legal obligations. But doing so can hurt your small business in the long run.
Thankfully, online apps and services can help you establish the legal groundwork for your startup and remain compliant with regulations as your business grows. For example, business formation services can help you choose the right legal entity for your business and file the proper paperwork with your state.
Online apps can help you do almost anything. Try using apps to automate any daily task that is taking your time away from bigger projects.
- Slack is invaluable for team-focused communication without back-and-forth emails.
- Later, Buffer, Hootsuite, and CoSchedule can help you automate social media posting and monitoring.
- Invest in accounting software to automate bookkeeping, payroll, and invoice generation.
- Try tools like Grammarly for automated proofreading.
- Use customer relationship management (CRM) software to keep all of your customer data and support information in one place.
Build Your Knowledge Fast
The most successful entrepreneurs never stop learning. Spend your free time learning everything you can about running a business! Learn about marketing, copywriting, taxes, business law, supplier relations, inventory management, cybersecurity, social media, team management, and anything else that could affect your business. Great learning resources are everywhere:
- Sign up for business courses through online learning platforms like Skillshare and Coursera.
- Attend industry events and network with other entrepreneurs.
- Read books written by successful entrepreneurs.
- Podcasts like EO Wonder can also serve as a source of entrepreneurial knowledge!
Hire the Best Freelancers
Of course, you don’t have the time to learn every skill your business requires. Trying to do everything yourself can actually hurt your cash flow in the long run. By outsourcing projects to skilled freelancers, you’ll have more time for big-picture projects that will help your business generate income faster. A good rule of thumb is to outsource everything that falls outside of your area of expertise. For example, if you’re a web developer, you might hire a marketer to handle your advertising or a writer to run your business blog.
And don’t just stick to the US. It has never been easier to work with overseas freelancers. Just be sure to interview your prospects carefully and to get a clear understanding of how tax laws pertain to paying overseas workers. One of the biggest challenges can be finding the best way to pay them for their services, and banking isn’t always an option. For example, if you need to pay workers in The Philippines, keep in mind that using typical payment platforms and international wire transfers can be cost-prohibitive. Instead, you can use reliable low-fee money transfer services like Remitly.
Find a Business Mentor
It takes time, hard work, and plenty of trial and error to become a successful entrepreneur. But at some point, every great entrepreneur was completely new to the game, unsure of which steps to take or how to navigate the obstacles in front of them. The people who made it through the challenging startup phase and built successful businesses have a lot to offer first-time business owners. Reach out to an entrepreneur who you admire and ask them to be your mentor!
Being a girlboss doesn’t have to mean doing everything yourself. Get help from skilled freelancers, automate tedious work with smart software, and find a mentor who can guide you along the way. With the right resources and people on your side, your business will thrive!