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Don’t
Make Last Year’s Mistakes This Year!
Embarking on a new
year filled with possibility and opportunity, we solo professionals
come face to face with the everyday grit.
Use the spark of newness that the New Year brings as the catalyst
to make promises with purpose. And let your purpose
be the driver of real execution.
Start the New Year with
a bang by staying clear of these common pitfalls and bad behaviors.
Poor
Planning
All Star football teams
don’t just show up on the field – they go out
with a playbook. What’s your playbook?
Your playbook for professional success consists
of three critical components - a business plan, a
financial plan and a marketing plan. Your instinct,
gut feelings and “I’ve got a hunch” moments
are in no way a substitute for real planning. A good plan
is the foundation of a healthy business. You’ll refer
to these plans time and time again. They keep you focused
so that you realistically can grow your business and monitor
the shifts and changes you’re bound to experience. By
keeping your plans simple, you’ll increase
the likelihood of your referring to these valuable resource
tools on a regular basis.
Everyone Needs
A Champion
Who champions for you?
You need a small group of people to help you make solid, practical
decisions about your business. Champions are people
you go to for advice, encouragement, support and guidance.
These trusted people are like-minded business professionals
who are passionate and enthusiastic about your success. Look
around you. Figure out whom you really can depend on for business
help. As you become a more confident you, your number of “real”
champions will be reduced to a select few.
Underfunded
Means Unprepared
At least once a month,
I read a story about someone who started his business
with nothing. While that might sound intriguing,
that’s not typical. Although you might not need “start
up capital” in the traditional sense for your
type of business, you will need operating costs and cash on
hand. Simply put, operating costs are what it takes to run
your business from month to month. Ideally, you should have
six to 12 months of operating expenses set aside. Cash
on hand is money – not lines of credit - that
is available immediately to you. This is especially helpful
for unforeseen expenditures or payments.
Reality Check
It’s not a crime
to love what you do and get paid for it. Repeat after me “Profit
is a good thing!” See, that wasn’t so
hard was it? The reality is most of us work because we need
to earn a living. Doing what you love to do or what comes
naturally to you and getting paid for it feels “weird”.
Why? Isn’t that the ultimate job? Review
your fees and make adjustments as necessary to make sure your
rates are in alignment with what the market will bear. In
reality, we all want to be paid what we’re worth, therefore
making a profit on our passion is completely acceptable.
Leverage
Resources & Technology
With its introduction,
the Internet has brought a powerful resource
to our fingers – information. The Internet has the power
to provide literally millions of pieces of information from
around the world in seconds. Learn how to tap into this vital
resource because online discussions, web blogs, articles,
statistical data and white papers can help you run your business
better. Learning how to navigate the Internet also increases
your “tech savvy skills” enabling
you to find information faster.
Today, technological
advances literally sit in the palm of our hands.
To be more time efficient we use online calendars, to be more
organized we use PDAs, to be more effective we use web conferencing.
Technology has made the impossible – possible. Use technology
to help you manage your business and increase your productivity.
Identify IDEAL
Customers Only!
Identifying your ideal
customer is very easy if you have a solid marketing
plan already. See why it pays to plan? In actuality, you only
should be marketing to ideal customers in the first place.
These are going to be people with whom you truly desire
to do business. You can easily narrow down an ideal
customer by getting inside of her head and figuring out what
she needs, determining her future needs and understanding
her buying decisions. The psychology of a customer is great,
but the psychology of your ideal customer is gold.
Outsource &
Barter Often
Whether you are a “one
woman show” or a 100-person firm, you can only
wear so many hats. There is such a thing as spreading
yourself too thin. Don’t waste your valuable
time with simple or redundant tasks that easily can be delegated
to another employee or handled by hiring temporary workers.
Focus on the areas of your business that matter most to your
bottom line first and forgo other tasks to “hired help.”
Teenaged children, nieces, nephews and cousins are a great
way to outsource work “on the cheap.”
Need an extra
set of hands, but can’t afford to bring in
a temp? No problem. Use business groups, socials and other
networking opportunities to seek out professionals who compliment
your skills. Bartering is a tried and true – and very
respectable - way of doing business between two people with
business needs and limited financial resources. Put feelers
out for someone who can help you and be quick to point out
how you can help her also. Think of it as a professional
alliance.
Have Fun. Seriously!
One of the most discouraging
things about being solo is not having enough “playtime.”
Don’t make the mistake that so many of us do and forget
to enjoy life. If you’re going to work hard,
then play hard. There’s nothing wrong with
taking half a day just to recharge. You owe it to yourself
to be good to you. Eat balanced. Get ample rest.
Feel the sun on your face. Smile when you hear children laughing.
Have fun and take your playtime seriously. You’ve earned
it!
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Olalah
Njenga, senior marketing writer/consultant for Make It Write LLC, helps
small business owners and solo professionals get measurable results from
their marketing efforts. 