When you work for yourself, by yourself, the demands on your time are overwhelming. You simply can’t do everything you want to, or even need to do. As your business grows, this becomes more and more of a problem. However, many solo professionals want to remain solo and don’t want to take on the responsibilities and expense of employees. What then?
Get help
You don’t have to do everything yourself. In fact, you probably shouldn’t. The simplest way to maintain your solo status while still growing your company is to have a great network of expert resources. There are some tasks that will save you time, energy and money if they’re handled by a freelancer or independent contractor. Administrative tasks, for example, are often easy and inexpensive to outsource. And the time you free up in your schedule can be spent doing those things you’re good at, enjoy, and will contribute to the bottom line.
Build a support network
You may not have the convenience of a built in support network that you would in a traditional working environment, but you can still have reliable help. And unlike the colleagues who just happen to work at the same company, you can choose who you want to work with when you build your own network.
Develop relationships with other small business owners to whom you can outsource the activities you don’t have time for, aren’t good at, or don’t like doing. Identify those tasks you’d like someone else to do, and as you’re out meeting people in the ways suggested in the Foster Friendships section, take note of those who might make good colleagues. Get to know them. Ask them to work on small projects with you, or for you, and see how it goes. Once you feel confident in their competence and compatibility, use them regularly. Develop genuine personal relationships and be appreciative of their help.
Build a referral network
Someone you’d consider to be a good colleague for yourself would be a good referral to others who need the same type of help. Be generous in your referrals; those you refer business to are likely to return the favor when they can. In addition, they may well be looking for someone like you to outsource their tasks to! Before long you may have created a virtual company of sorts—an informal group of solo professionals working independently but together.
Build a professional network
Every small business owner should seek out professionals who specialize in small businesses. Sooner or later you will need a banker, lawyer, insurance agent, and accountant—and if business is successful an investment adviser! One of the pleasant side effects of membership in business organizations is that you’re likely to meet these people naturally. Create your professional network from those who are knowledgeable in their fields, of course, but also from people you like and trust and who get good reviews from others. Meet with them on a regular basis so that when something comes up, they know your business and you have a solid foundation to work from.
Build an overflow network
There may be times when a business opportunity presents itself that you are just not able to take advantage of. Perhaps you’re already completely booked, or the skills needed are a bit outside your core expertise, or the client is geographically inconvenient, or you’re just headed out on vacation. Depending on the nature of your business, you may want to engage someone in your own industry as an independent contractor or a subcontractor. Get to know others who do similar work to yours whom you would feel comfortable recommending or sending in your place. Many people are happy to pay a percentage of earnings as a referral fee in such cases.
Consider a virtual assistant
A virtual assistant (or VA) is someone who handles tasks for you but works from his or her own place of business as an independent contractor, someone you might never meet. Communication is via phone and e-mail. VAs work best in an ongoing, one-on-one, collaborative relationship. They usually provide administrative support, often specializing in creative, medical, legal, financial, or technical fields.
Their backgrounds, which often include experience as an executive assistant or office manager in addition to their specific skill set, make them reliable, responsible, and resourceful. They may handle appointments, bookkeeping, customer service, website creation and maintenance, online marketing, or other important, but time-consuming tasks for solo professionals. This can be extremely cost-effective since they’re paid only for actual time worked.
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