The only problem I see?
A lot of these people aren’t treating their work as a real business.
If you are trying to make more than a couple of bucks on the side, if you are striving (and hopefully succeeding) to create a part or full-time income from your independent operation, than you have a business and you need to treat it as such. Here are 6 things you need to start doing now if you want your business to thrive:
- Register your business with the city you live in, and get a tax number. This won’t be necessary for everyone, but if you’re making more than a certain amount per year from your business, you should be paying tax on your business income, and therefore charging your customers tax.
- Get an accountant, or at least a great accounting system. Keep all business-related receipts in one spot, track expenses, create realistic budgets and use an invoicing system.
- Spend at least 15% of your time promoting your business. Some entrepreneurs spend 25, or even 50% of their time promoting their operations, products, services or websites. Yes, helping clients and customers should be a top priority–but if you aren’t constantly promoting your business, you won’t have a steady stream of clients anyway.
- Be clear about your brand. I’ve talked about the importance of this before, and how you should use your values to build an awesome brand you can grow with. It’s an essential key to success, and many solopreneurs don’t bother with it, and wonder why they can’t get any traction in a crowded marketplace.
- Get help. The chances of you being really amazing at creating and delivering products and services, doing accounting, admin, customer support, promotion and technical support is pretty slim. You don’t need to juggle all those balls in the air–hire part time, virtual assistants to help you as soon as possible. Or if you can afford it, hire an in-person assistant. Hire out the pieces of your business that you don’t enjoy, and aren’t great at doing. Save your time for the things you do best, where you shine.
- Get advice. This may sound self-serving, since I offer my own business coaching service, but I truly believe every business owner could use a regular dose of outside perspective. You’re too close to your biz, which means you often don’t see the areas you need to work on. My coaching service might not be right for you, but there are thousands of other coaches and consultants out there who specialize in helping people like you reach your full entrepreneurial awesomeness.