how2 launch a successful one-person business

HOW2 Launch a SuccessfulOne-Person Business

Mary Ellen BatesReluctant-Entrepreneur.com

Reluctant-Entrepreneur.com

5 signs you’re a solopreneur

You love what you doPerformance reviews make you illYou’re comfortable making

decisions and taking actionYou’re open to new ideasYou tolerate ambiguity

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Solopreneur Traits test

SmartCreativePersistentSelf-startingStrategic, client-focused perspectiveCan handle annoying clientsDon’t need to always be right

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What is your solopreneurscore?6-7: Why haven’t you launched your

business yet?

4-5: Yes, you can!

2-3: This might not be your bestchoice

0-1: Keep your job!

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The skills of a solopreneur


Entrepreneurial skills

Tolerance for risk and uncertainty

100% client-focused

Move out of employee mind-set100% responsibility for all aspects ofyour business

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Entrepreneurial skills

Strategic perspective

Self-discipline, self-confidence

Admit you don’t know what youdon’t know

Willing to live outside comfort zone

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Business skills

View yourself as a business

Take steps needed to succeed

Close a sale

Talk about money

Wear many hats

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Professional expertise

Keeping your skills sharp and fresh

Network of colleagues

Investing in prof development

ID opportunities to add value

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The Chills and Thrills ofSolopreneurship

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The ThrillsFlexible scheduleWork from homeYour clients love youYou love your boss

24/7 scheduleLive in your officeYou have to find clientsYou make all the decisions

The Chills

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The ThrillsYou can try anythingYou can fire clientsCan be lucrativePride of ownership

You only have X hrs/yrYou have to find clientsCa$h flowLife-long marketing

The Chills


Looking at yourselfdifferently

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Learn to love uncertainty

Your clients will NOT value whatyou did as an employee

100% client-focused means open toanything

Embrace ambiguity

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Self-management

Time managementOnly 1.000 billable hours/yearProcrastination management

Project managementPerfection is the enemy of good(enough)

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Cash flow insights

Have 6 months’ living expenses

Don’t fund operations with credit

Set your rates as someone inbusiness, not just starting abusiness

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Finding the dog whistle

“My housecleaning company cleansyour house very well”

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Reality-check interviewsconversations

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Why?

Get past the obvious answer to thereal value

Learn how clients describe theirneed

Become competition-proof!

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When?

Conversations, not interviews

Create opportunities to talkGo to local events your clients are atMeet for coffee/teaTalk with everyone

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Who?

Whoever you think will be yourclients

How?Ask and listen; no selling!

See the world from their eyes

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Conversation goals

What’s their biggest need?

What happens when that need isn’tmet?

What would they pay to meet thoseneeds with your product /service?

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Conversation goals

How do they look for {people whoprovide your service/product}?

How could you have the most funmeeting their biggest need?

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Ask yourself

What surprised me from theseconversations?

How do they describe the biggestneed I can address?

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Ask yourself

What do my clients NEED,VALUE and are willing toPAY me for?

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Talking about yourself

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Are you a business owner or afreelancer?

Freelancers focus on getting theirnext gigBusiness owners focus on keepingclients happy

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What are you?


When you describe yourself...

Is it a WHAT or HOW?

or is it a WHY?

“We offer bookkeeping services forsmall businesses” or

“We help small businesses get morefrom every euro they earn”

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HOW or WHY?

“We help you plan your next event” or“We make your events stand out”

“We develop mobile apps” or“We put your business on every client’s

smart phone”

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Then practice and refine!

Test out your description oneveryone

Blank look? Try another approach

Goal: “Ah ha! I need you now!”

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It’s our job to sell, not their job to buy

It’s our responsibility to communicateour unique value effectively

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Mary Ellen(and I’m faking it)


The Imposter Syndrome

If they only knew how scared I am...

Once they find out I don't knowthis...

99 compliments, and you hear the 1criticism

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Defusing the Imposter Syndrome

Take feedback gently

Treat yourself as you would a friend

What’s easy for you isn’t easy forothers!

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Defusing the Imposter Syndrome

Let go of being perfect

Act as if you’re brave!

Promise yourself you’ll have fun!

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Mary Ellen’sSOLOPRENEUR CHECKLIST

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Solopreneur Checklist

Set a launch date

Get an accountability buddy

Check your finances – do you have 6months’ living expenses?



Conduct 5 successful reality-checkconversations

Write up 3-sentence stories abouthow your product/servicemade a big impact on clients

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Decide on your rate/price

Decide on a business name,corporate structure

Register domain, start using bizemail address

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ID where your clients congregate

Write a marketing plan to attract,not chase after, clients

Set outcome-related metrics

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Print high-quality business cards,with social media URLs

Get a lawyer and accountant

Set up an accounting system

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Set up a monthly savings plan soyou can attend prof dev

Set up web page & social mediawhere your clients are

Reach out to everyone you know

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Join your clients’ prof association

Evaluate your computer setup

Evaluate your office setup

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Start your marketing efforts

See my 20 Ways to Kick-Start YourMarketing

(reluctant-entrepreneur.com)

Plan a 6-month strategic review

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com


Find Mary Ellen at:

[email protected]: @mebsLinkedIn: maryellenbatesFacebook: maryellenbatesReluctant–entrepreneur.com

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