The Cambridge Dictionary defines a one-man business as “a business that is operated by just one person,” i.e. you alone with no staff or partners.
Running a one-man business as you already know is challenging. Your most precious asset is your time! There’s only so many hours in a day or a week that you can work.
However, the internet and web-based tools have helped to level the playing field for you by lowering your overhead costs. So, you can compete against the big players in your industry.
I get loads of inquiries from one-man business owners asking me how to grow their business online and be more successful. As a one-man business owner myself, I quite understand your circumstance.
You can make the best of your one-man business by following these 12 simple ways highlighted in the infographic below. These are traditional yet contemporary rules for your one-man business.
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- Have a plan no matter how rudimentary it is and set goals.
- Have a substantial amount of savings to see you through the first few months or years (yikes!)
- Your most priceless asset is your time. Stay focused on the essential things.
- Focus on marketing your business and driving sales. Finding new customers is the most significant challenge of most one-man companies.
- Take advantage of technology to grow your business online. Get a website. Use social media to connect with potential customers.
- Study your competitors to find their strengths and weaknesses and focus on filling any gaps in the market.
- Live a modest life and work from home, if feasible. A humble life reduces your overheads and transportation cost.
- Put your knowledge, skills, and resources into doing a business that you know, and that is financially gratifying
- Surround yourself with wise advisers and consultants to show you the ropes.
- Outsource aspects of your business that you are not proficient. Don’t be limited by your creativity and skill set.
- Start your one-man business while you’re still employed (if possible), so you can acquire some clients before you quit your full-time job.
- Learn to take a break. Health is wealth. Enough said.
Share Your Thoughts
Are you running a one-man business? What do you find most satisfying? What’s your most significant challenge? I hope you make 2018 the most fabulous year yet in your one-man business.