Solopreneurs Are The New Entrepreneurs
The digital revolution has created a new kind of entrepreneur who launches a company as the founder and sole employee, a solopreneur. Fundz cites research that shows there are currently 41.8 million of these solopreneurs in the U.S. today. Instead of hiring employees, these business owners outsource any skill they don't possess to talented freelancers or independent contractors. This helps them keep their focus on what they do best — growing their business.
Check out these tips from The Badass CEO on how you can become a successful solopreneur.
Finding Talented Freelancers
Freelancers are available for every type of work you need to be done for your business. The key is to find experts in a particular area who fit in with the rest of your freelance team. Thankfully, there are several online sources where you can find the talent you need. You can find web developers, social media marketers, graphic designers, and copywriters available to help launch your business, and salespeople, accountants, analysts, and project managers to run it. You can also ask other solopreneurs for recommendations.
Hiring Your Solopreneur Team
Human resources professionals emphasize the importance of conducting interviews and evaluating the talents of the freelancers you think would be a good fit for your team. Most job interviews are conducted virtually now, which also lets you draw from a larger talent pool. Make sure to select a quiet location to conduct your interview and test your audio and video before it begins.
Be prepared with questions to learn more about each person's qualifications, experience, and education, along with their communication style, project management track record, and fee structure. For creative positions, ask to see a digital portfolio and work samples.
Using Technical Tools To Manage Your Team
Once you have your freelance team assembled, you need a way to pay them, manage their tasks, and invoice their work. Thankfully, there are tools for that, including financial software for consultants that allow you to run your business more efficiently. Be sure that before you invest in such software, you check out online ratings and reviews and that the product comes with a good support team.
Here are three tools you should consider implementing:
1. Online Payroll Service
Hiring freelancers and contractors instead of employees can save you money if you follow all the labor laws and pay them correctly. Each person needs to be classified correctly for tax purposes, and individual 1099s need to be sent on time. Any errors in the process can leave you open to lawsuits or fines.
This is a task that is best left to the professionals. Payroll services are available in both software and online formats. Another advantage is that the service you choose should be ready to handle any changes, including payroll tax payments if your business grows in the future and you start hiring employees.
2. Task Management Tool
Please keep all your freelancers and independent contractors up to date on their responsibilities with task management software. You enter the project and use the tool to break down each person's role into tasks with a due date. This helps you see how the project is going and if anyone is falling behind on their duties.
3. Invoice Management Software
Getting invoices sent out and paid is an important part of your business. There is software available to handle it all for you. You provide the details, and the tool creates the invoice, sends it out, and accepts payment. Some invoicing software even helps you create professional, polished job proposals or estimates.
With a great business idea, you too can start on the path to becoming a successful solopreneur. Follow these tips to get the help you need from talented freelancers and contractors.
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