Entrepreneurship

A Solopreneur’s Big Challenge

October 24, 2012

One of the challenges of starting your own business and being a solopreneur, is needing to decide on what to do and when to do it. I used to think this would never be a problem for me. Then, I stepped out on my own.

Group photo from an FAA event I attended

No one tells me when to take lunch, how much time to invest in social media, what my rates and policies should be, or how to deal with unhappy customers.

Before I quit my job to work fulltime in my business, I would scoff quietly when I heard others talk about this challenge. I thought, “for me, it’ll be a walk in the park.”

Well, not exactly.

For instance, I stressed and labored for forever deciding on rates and setting up policies, just ask Claudia! If someone decided not to hire me because of either my price or policies, it was initially very discouraging. I have now gained the wisdom to know which clients to pursue and which to let go.

It’s a little different when you’re working for a company. There’s always a boss or manager you can check in with when you’re not sure how to proceed. Not only that, they’ll often send you to seminars and workshops to train you and give you the confidence needed to perform at your best.

These are the types of things we must put into place when we’re out on our own. I’ve read lots of books on business (see our resources page for some of these) and joined groups like Free Agent Academy and 48days.net. These have helped, a lot!

However, there are always new challenges and new mountains to climb. But hey, that’s half the fun of starting your own business.

Question: What are some of the challenges you’ve faced with starting your own business?

 

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13 Comments

  • Reply Ann Musico October 24, 2012 at 7:07 am

     The pricing issue for sure Michael.  That, by far, has been one of my biggest challenges.

    • Reply Michael Good October 24, 2012 at 7:46 am

      Same here, Ann. It can be difficult when you want or need clients. I try to look at it differently, however, and think about the value I’m adding to others and what that’s worth.

  • Reply James Dibben October 24, 2012 at 10:03 am

    Pricing?

    I can help!

    Here is a class I did back during my business coaching days. Full video and a downloadable worksheet.

    Now, I’m a blue collar business guy in construction but I have no doubt that much of the information will help you guys out.

    http://bluecollarliving.com/online-cpm

    Free! 

    Here is a sample youtube video overview I made.

    http://youtu.be/I57HHGCCZOg

    • Reply Michael Good October 24, 2012 at 10:23 am

      Thanks a bunch, James! I’m going to take a closer look at this later today. Looking forward to it!

      • Reply James Dibben October 24, 2012 at 10:28 am

        Just let me know if anyone has questions.

        One of the biggest builders here in Kansas City told me that of all his contractors I had the best grip on my pricing.

        These videos cover my system in detail. #braggingover

    • Reply Michael Good November 9, 2012 at 4:53 pm

      James, 

      I had some time to look over your resources here. Wow! I’m amazed at how thoughtout this is. Very helpful! 

      I know it would help me to know more precisely where all the money is going in my business. I do know pretty well but I don’t have it down to a system like this. 

      Thanks again for sharing!

      • Reply James Dibben November 9, 2012 at 5:07 pm

        Thanks for taking a look and sharing!

        That information was put together with a lot of blood sweat and tears.
        My only desire is to see it help as many people as possible.

        If you have any questions at all please just let me know.

  • Reply James Dibben October 24, 2012 at 10:13 am

    I put two links in my previous comment and Disqus blocked it for review. I hope you can find it, lol.

  • Reply Rob Clinton October 24, 2012 at 3:29 pm

    Oh rates and polices were big ones and I can relate big time there. Another challenge was deciding which items got the most attention based on their priority. 
    I’ve done a lot of shifting over this haul to find that perfect fit or balance, and there really never is one. It’s always a challenge gauging against life circumstances and priorities change along the way as I decide to tackle new cool things, and that’s part of what makes this life exciting for me! I love being in control and deciding what goes where and when….Hey, awesome FAA pic by the way!

    • Reply Michael Good October 24, 2012 at 4:05 pm

      Rob,

      Yeah, you’re not alone there. Decide which items to prioritize is something I think about a lot too. Way to be flexible and roll with it!

  • Reply Michael Wright November 21, 2012 at 3:33 pm

    Well, I haven’t started my own business, but I can relate to stepping into a role of having a more unstructured day since being in a management role.  For years, I was a “producer”.  Tangible items you could take to the bank.  When I began to have more time in my day to mold and shape the work days’ agenda as well as trying to help others in their jobs, it was a struggle.  

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