The Successful Solopreneur: 5 Tips to Make It Work

Inc.com posted a great story last week: How to Run a One-Person Business. The gist of it: Owning and operating a business with a team of one requires determination, discipline and fearlessness. But those three qualities can be difficult to muster when the only person you have to rely on is you. So how do you manage?

There’s a myth that says you have to do it on your own. That bootstrapping your way to success is, in fact, possible. That you can and will assume the hats of bookkeeper, custodian, salesperson and CEO. When you go solo, you’ll never need anyone else. That’s the whole point of being self-employed, right?

Not necessarily. Owning and operating your business doesn’t have to be a one-person show. The key to becoming a successful solopreneur (and to maintaining your sanity) is knowing where to look for affordable—if not free—help.

1. Accept help when it’s offered. Your gut reaction may be to turn down offered help (hey, you can do it on your own, right?), but resist doing so. Offers to help can be cheap or even free, and in an environment where you’re strapped for time, money and resources, bite your tongue and take advantage of these opportunities.

2. Ask for help when you need it. If you’re going to spend a little cash keeping your business running and your mind sane, the most effective area to spend it is on your own finances. Hire a bookkeeper to keep your accounting clean from month to month. Not only will it help you when it’s tax time, but it will also help you better understand your business’s cash flow.

3. Obtain knowledge on the cheap. It may be overwhelming when you realize exactly how much needs to be done right now. The good news? There are millions of people who have done—and succeeded in—what you’re trying to do. Take advantage of this knowledge.

Visit your local library and choose a few books from thought leaders or practitioners. Search online for articles, tips and case studies. Browse magazine articles at your local bookstore. There’s plenty of accessible, free knowledge that can help you manage your business more effectively and efficiently.

4. Network, network, network. Making connections with others who are striving as a solopreneur can provide you with a wealth of valuable information. Search for local networking events via professional social networking sites such as LinkedIn. Join online forums to ask and answer questions, and make new connections. Before you realize it, you’ll have an encyclopedia of contacts to go to when you need help.

5. Go virtual. Whether or not you’re ready to hire help, consider the services of a virtual assistant. (You can find more information about virtual assistants at The Wall Street Journal here. Outsourcing menial or major tasks can free up time for more pressing tasks.

Remember, owning and operating your business is a lot of work. Learn to ask for and accept help when appropriate. Use the resources around you, and learn from others—you’ll see how successful you’ll become as a “solopreneur.”

The best to you and your business.