Having a small business means that you are the boss. You do not have to listen to anyone but yourself. It is essential for people who want the freedom of working alone and making their hours.
Benefits and Challenges of Having a Small Business
Having your own company can make life very fun if set up correctly because it gives you complete control over everything involved in running an organization (salesforce).
You will be able to make all decisions by yourself, including where the location should be located; what products should be offered; how much money needs to be made each day/week/month, etc.; whether or not there needs to hire another individual(s), i.e., employees.
However, despite having many benefits like being one’s own boss or setting up their own hours, some challenges come with this type of work.
For example, you may have to do all the marketing by yourself, wear many hats (e.g., bookkeeper, customer service representative, etc.), and be able to handle a variety of tasks simultaneously without getting overwhelmed or stressed out.
Thus, it is essential to be productive and organized for your one-person company to turn into a small business. You can find out more reasons here.
The following are some tips that can help you achieve this goal:
- Outsource tasks that you do not enjoy or are not good at.
For example, if you hate doing your company’s bookkeeping and consider it a waste of time, hire an accountant to complete this work. In other words, outsource anything else that is outside your core competencies (i.e., what makes you unique).
The best way to find someone who has skillsets beyond yours is by asking friends/family members whether they know anyone who can help with these types of projects; searching on LinkedIn; etc.)
- Take advantage of technology tools.
These days, there are so many great apps available online which allow users like you to complete tasks quickly, easily, and efficiently.
You do not even need technical skills or prior experience with computers.
- Work from home whenever possible.
This will help you save time on commuting as well as concentrate better because there are fewer distractions in your own house.
In addition, working from home makes it easier to work full-time hours without having any obligations such as going out at night or attending meetings, etc.
- Organize your time
Set a specific amount of time to spend on each task so that you do not waste time or procrastinate.
This will also help you to optimize your work hours.
A Few More Tips:
- Work whenever you feel most productive (e.g., early in the morning after having some coffee)
- Keep track of all essential documents such as photos/videos (of completed projects), client files, etc. using Evernote, Dropbox, Google Drive, etc.) for easy access when needed
- Create a “to-do” list each day/week that outlines all the tasks that need to be completed
- Set deadlines for yourself and try your best to stick to them
- Delegate when possible (e.g., if you are not good at public speaking, then find someone else who is)
- Take breaks occasionally 🙂 it’s healthy!
As you can see, being productive does not have to be hard if you know how to approach the situation correctly! However, it takes a lot of practice before one becomes truly productive, so don’t expect to be “on top of your game” right away.
In conclusion, there are many benefits and challenges involved in being your own small business owner. However, productivity tips like outsourcing tasks, taking advantage of technology tools, and working from home can help manage your company less challenging while also allowing it to grow into a successful small business organization.