3 Tips for Do-It-All Entrepreneurs

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The One Man (or Woman) Band Approach Isn’t Effective. 

Doing this entrepreneurship thing on your own is a daunting task.

Through my entrepreneurship journey, it’s a constant struggle of ups and downs. The ups are up and your downs can really be down. As stated in my vlog, Entrepreneurship, and Depression (http://www.dereklindsay.com/entrepreneurship-and-depression/), studies show up to 49% of entrepreneurs suffer from some type of depression or mental illness, likely as a result of their business. 

Since I have decided to close the doors on my second one man band consulting company, I’ve come to several conclusions: 

#1 - It’s hard as f**k to run an ENTIRE business by yourself: 

Doing so multiplies the likelihood something is going to fall through the cracks. If you’re in a 9-5, the company usually provides you with resources and tools to run your department or team. In this game, it’s all on you to help you help yourself. 

My personal struggles were difficulties keeping up with deadlines from multiple clients and working to the point of physical fatigue nearly every day. 

#2 - Don’t be greedy:

You’re in business to make money and the objective is to keep all the money right? 

WRONG! 

In the beginning, it is difficult to not do everything yourself; especially if you have the expertise to do so. This isn’t a good idea because you should focus on what you’re great at and hire or outsource the things you’re just good or ok at. When you’re in sink or swim mode, all you see is the check and thinking of it as a paycheck instead of thinking of it as a resource to grow your business.

Think about this... 

Let’s say you’re great at producing your product but ok at selling. If you spent your time producing and paying a salesperson a commission on sales you’ll get more customers and be happier within your business. 

I’m good at creating websites, writing books, and the entire technical gambit but I’m great at SEO/PPC and selling my business. Which should I concentrate on most? 

#3 - Don’t Take on S***y Clients or Project for Strictly Money or Out of Desperation:

This almost always backfires. When you start a new project or engagement, if you’re feeling desperate or resentment for pricing too low or taking on a project you weren’t enthused about it’s likely going to show up in your work. One solution to get around this if you’ve already committed is to hire someone to do the project and take a percentage. That way, the client will be happy and so will you! The best solution is to just say no!

Remember just because you’re an entrepreneur doesn’t mean you have to be a solopreneur. Businesses are built with people and teams. 

Now go build yours!