pros and cons running business

The Solopreneur-Life: The Pros and Cons of Being Your Own Boss and Running Your Own Business

The soloprenuer life is NOT for everyone.
 Is living the solopreneur-life for you? There are incredible benefits, but I know people who paint an overly rosy picture of what it’s like to be an entrepreneur.

Entrepreneur open book on table and coffee Business

Being a solopreneur, it’s hard to have the same level of motivation first thing in the morning. When you have a boss and 9-5 workday, you’ll have visions of your boss screaming at you if you’re 5 minutes late, and that’s a very strong motivator.

 As an entrepreneur, you don’t have that. But, I have done some things to combat that.

Schedule Meetings or Coffee Dates

Try to schedule some meetings or coffee dates, at around the time you’d like to wake up. Put your alarm clock far away from the bed so you have to wake up to access it. I prefer looking over my calendar and planning out my day first thing in the day before coffee. Coffee is a great reward for properly planning out the top priority for the day.

If you want an amazing way to plan out the day check out my Productivity Planner for Small Business Owners. It let’s you pick the top tasks and priorities and track your progress, plus it’s free (just cover shipping and handling).

Use Time Tracking Softwares

You need an incredible amount of self-motivation to work at home, by yourself. There’s no one over your shoulder, it’s all up to you. One of the crucial things that I use is a time tracking software.  I use Freshbooks.  

Sometimes if I’m not in the mood to work, I’ll just start the timer, and once I’m on the clock I have to be going and going really hard. 

As a freelancer, you’re judged almost entirely on your output, so that needs to be really high to continue getting great work. Even if you aren’t doing billed client work, I’d still recommend tracking your time. It helps you focus and manage how you’re using your day.

Your work output should be higher than other 9-5 jobs.  You have to be efficient, but you can really hone in and focus precisely on your work. But, the nice thing is once the work is done, you’re done for the day.

Take Breaks

Recharging and gaining energy and focus will actually lead to you being MORE productive. Take the breaks you need, you can run around, dance around, take a walk, take a nap. Get your mind in the right place and you’ll be insanely productive.

Invest in Equipment That Will Speed Up Your Day

Don’t let your tools slow you down. A fast and efficient computer is one of the best investments I’ve made for my business.

Also if I need to purchase an application or a hard drive, I don’t have to send it 3 chains up in command or go through IT like you would at 9-5.

Do research on tools, but let them speed up your workflow.

Create a Rainy Day Fund

Working for yourself, you don’t get the same type of vacation, sick days, or holidays. It’s important to still plan on giving yourself these benefits. I use the app Qapital to set aside 10% of each payment. That way, there’s money set aside for health, vacations, and sick time.

If you don’t build it in and plan for it, you may not have the money to cover key expenses or take a much needed vacation which can lead to burnout.

If you want some tips for avoiding burnout as a small business owner, I created some strategies that you can find here

Conclusion: You Now Know the Pros and Cons of Being a Solopreneur, what’s next?

One of the most challenging things about being your own boss is gaining your first customers and clients. Luckily for you, I put together this epic training on the best way to gain customers and clients.

And if you REALLY want to level up your marketing, you can take the 14 day marketing mastery course.

You’ll receive workbooks, assignments, and within 14 days you’ll have all the most important marketing tasks to start gaining a steady flow of customers.

You can learn more about that affordable course by clicking here

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