To establish a thriving business as a solopreneur, it may seem obvious that you need to put energy, time and attention towards the things that will help you get the results you want. However, most solopreneurs have a hard time doing so.
Almost all small business owners struggle with managing their time. You often find yourself saying, “There just aren’t enough hours in the day.” The key is creating goals for different time periods – for example, setting weekly, monthly, and quarterly goals. Taking the time to plan out what you need to achieve, and when you need to achieve it, is a great starting point.
Set a Big Picture Goal
Think about why you started your business in the first place. Was it to have financial freedom? To be able to travel the world, and work from anywhere? Make these reasons as concrete as possible in your mind. Once you’ve re-established what made you start your journey to being a solopreneur, the next step is identifying what you really need to do to be successful.
What would enable you to accomplish your big picture goal? In most cases, it may not be the first thing you may think of. If you answered that you want to work from anywhere, then you need passive income. You’re not thinking of running a big business with all the employees, physical working space and rules.
For most people who want freedom and to make a solid income, passive income is almost always the answer. Therefore, don’t focus all your resources into developing products or services that rely on employees and office space. Drive towards a solution with low overheads and multiple passive income streams.
Develop your Time Allotment
Determine how many hours you will dedicate to your business and assign blocks of time to each category. Keep in mind that all of this depends on where you are as a solopreneur and the size of your business.
Generally, if you don’t have a full business yet, you should dedicate most of your time to marketing activities. These include presentations, networking, fine-tuning your strategies, and more. As you get more clients, you will have less and less time to spend on these aspects.
You will gradually start spending more time working with clients on the services you provide. Once you get to focus more on the actual value you’re providing, you will want to block out times in your calendar for each of your tasks and/or clients. This works best when done weekly, and in turn, this becomes your ideal schedule when it comes to achieving your goals and staying on track.
Do, Delegate, or Ditch
You can’t do everything at once. When you’ve established what you want to achieve regarding your weekly, monthly, and quarterly goals, you have to decide what you need to do, delegate, or ditch. If you notice something isn’t a good fit for your plan or doesn’t align with your goals, ditch it. Focus your energy into what you really want to achieve, for your life as well as your business.
Review and Refine
Setting goals is an ongoing process. You don’t need to start from scratch every time, but you need to continue reviewing and refining your goals as time goes on and your company evolves. You can’t predict the future of your business, so it’s alright to change and modify some of the goals that no longer suite you as they are. This process also helps in your decision making as a solopreneur.
Your goals can be broken into smaller chunks to make them more manageable. Time doesn’t have to be your enemy, you can use every minute to your advantage, even as a solopreneur.