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Part of creating a routine that will keep you happy and healthy means taking regular breaks. But doing so will likely lead to burnout. There are also plenty of communities online that will allow you to regularly interact with people in your industry or with whom you share common interests. Find some online forums, Twitter chats or other communities that will help you share and gain insights from your peers while you work to grow your business. Along with sometimes lower profits, a solo business can also mean inconsistent income.

So it helps to have a backup savings account or other income stream to offset those difficult times. Growing a successful business by yourself can take a lot longer than growing one with a team. Outsourcing is your secret weapon. Outsourcing can help you snag clients that have needs outside of your expertise.

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I guess it comes from our own fear of failure. Good article Annie. Many of your points confirmed some of my experiences — especially the one about feeling that you should always be working. Sometimes you have to give yourself permission not to feel guilty about not working all the time. Such a nice article.

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Seriously the biggest drawback about being a solopreneur is you only have yourself to discuss issues:. Annie: Nice list of tips. You invest time and energy to harvest your profits later on. That is not the same thing as a sacrifice. My question is do I need a formal business plan of action or do I just work as it comes. Also, how do I go about receiving income for my services.

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I would like some advice, Thank you. Poll and research demand and payment ability first. Are other firms doing this? If so, how, and how much do they charge?

Do they by chance publish client lists? Some larger firms will, to attract other large firms. Doing something for friends and family is at best a general indication of market interest. Research is your friend, and can be done inexpensively on sites like Fiverr or FancyHands no affiliation with either service. The results of 1 above will guide your business plan decision. For receiving payment, PayPal is still the golden standard for new businesses. Building on 1 above market validation being key… , you can experiment with sending a PayPal.

If people will pay you using the link, then other people will pay as well. Annie: This is a good list. Inconsistent income can be nerve racking. The roller coaster of revenue ups and downs can be smoothed out by creating multiple streams of income and especially passive income. Yep, great ideas, most of which I already implement as a seasoned veteran small business owner since Getting from a to b is a journey, so you might as well enjoy it.

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21 Rules for Solopreneurs to Live By - Small Business Trends

Powered by. Email this Article Print This Article. Annie Pilon is a Senior Staff Writer for Small Business Trends, covering entrepreneur profiles, interviews, feature stories, community news and in-depth, expert-based guides. Cynthia Gibson October 21, at pm. He's a crystal-clear communicator and clearly has years of industry knowledge. I would work with him again in a heartbeat! While Ramesh is incredibly knowledgeable about entrepreneurship, what I admire even more about him is his ability to distill actionable insights for business people at every level.

In addition, his enthusiasm for helping others is palpable.

Elon Musk: How to Start a Business (Elon Musk 2017)

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Time Management, hmm. That dreaded demon. There are thousand things to do and you only have a few productive hours[ It is not easy being an Entrepreneur or a Solopreneur. There are a plethora of hurdles you face when you[ This website uses cookies to improve your experience.