When you start owning your new business there are a few things that you will need to get used to. Some will be apparent and others will require great shifts in your mindset.
First of all, as a solo entrepreneur you are no longer trading time for regularly paid salary. There is seldom fixed payment at fixed time. Your income does not depend on how hard you work or how much time you put in.
Your success will now be measure by the results you create. The result can be in the form of volumes of sales, cash flow or market penetration. At the bottom of it all, it is cash that will keep the business growing. And only sales will bring in the cash to run and grow your business.
That is why productivity and efficiency is so important if you want success in your business, because you only have 24 hours in a day and you only have 1 person (you) to do all that needs to be done! So guard your time and your resources and make sure you perfect the management of your productivity on a daily basis.
Because results are so important in a successful business, you really need a good hard look how you are doing sales as that generates you incomee. By the way, sales is not a dirty word. It is an exchange where you the service provider are giving value to your clients. You are serving them and enriching their lives.
The second mind shift that is required for the new start up business owner is tied to sales.
You need to shift your mindset from one of specialist to that of sales and marketing. If you are a solo entrepreneur, this is even more important. Even though you may be primarily an expert as a coach, counsellor, trainer, speaker or author, you will need to wear the sales and marketing hat. You the expert will need to promote your business and sell your services, yes you will do sales. This has got to be the most difficult mind shift to make. I hope you are not stressed out by this.
All along, you have been training and studying to be an expert in your field, you do nothing but what you are good at in your area of expertise with your domain knowledge. You were in your comfort zone. Now you need to market and sell, feeling a little uneasy?
But you can be the best coach in town, but if no one knows of your services or what it is that you do nobody can tap into your service. And that is a great lost to the people around you who truly would appreciate the value you can bring. It is also a lost to you because you will not be able to serve the people around you with the gifts and talents that you have.
You need to get out there and sell. Half hearted marketing efforts due to fear will not get you anywhere. You need to put your entire heart and soul into in promoting your services, so they know how to reach you for what will help them. Don't stress out yet. You don't have to push your product down the throat of others. But sell with a heart that wants to add value to others, sell with a heart that wants to enhance others' lives.
Still want to be a solo entrepreneur? Start practicing your sales pitches. Get clarity on who you are and what you do that add value to others lives. What do you uniquely do or have that others will come to you?
Set aside time for marketing, networking, selling and some self development and perfecting of your skills and competencies. If marketing and sales is foreign to you then learn it and learn it fast! Get a mentor, attend some workshops before you give in to anxiety of running your business. Practice and master the skills productivity as you give of your heart and your best to market your service to the people you serve.
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I think the biggest adjustment for me was no longer having people around me to work with… it felt good at first but then I realized I missed the feedback from working with others. It is sometimes hard to know just what is the right procedure to take, or choice to be made. When you work for a company that burden is taken away… ironically, you miss the very same things you moved away from to become a solo entrepreneur!
Thanks for the comment, so true isn’t it?
Don’t we always miss that which we no longer have? I know what you mean; the silence can be too quiet at times. Fortunately for us, there is the online masterminding that takes place.
Which brings us to the importance of being in a group or team of people on a regular basis. Apart of “touching base” it really does act as a sounding board as we bounce off ideas.
What matters to a new biz owner? shift of mindset –> http://sn.im/result_sales
2 things you absolutely need for #soloentrepreneurs –> http://sn.im/result_sales