5 Best Solopreneur Business Tips for Beginners
Want to start a business in the next year but don’t know where to start?
In this blog, I will share with you my 5 Best solopreneur business tips for beginners.
As you adopt them along the way, you’ll see your business grow and you’ll be able to create a coaching business that can thrive and support you.
TIP #1: It’s all about your mindset
Why is mindset so important?
Because, it’s the Inner Game as author Tim Galloway writes, that can take you out of the game.
You are likely already pretty good at your craft.
But your skills won’t be the element that prevents your success.
It will be the obstacles in your own mind that will stop your progress.
For example, I have rarely met a new coach starting out who doesn’t feel like an imposter some of that time, or all of the time.
Understanding how that is just a thought that keeps repeating in your mind is the first step in overcoming this obstacle.
But you have to notice it first before you can deal with it.
The most powerful mindset for beginning coaches is to develop is something called a “growth mindset.”
It means you are aware that you can change, that you can get better, that you can learn. Basically, that you can grow and develop into the most confident coach around by committing to your personal growth.
And so TIP #1 is to make sure you nurture your mindset, and don’t let negative limiting thoughts prevent you from expressing your gifts and talents into the world.
Tip #2: Turn your passion into a vision
Being a coach means you’re a solopreneur. And it is really different than starting a small business.
Most small business start ups require a detailed business plan, financing, legal documents etc.
I promise you, for most of us, starting there means you won’t get off the ground.
You will get completely bogged down in paperwork and bureaucracy.
Can you say “help” a little louder?
As a coach solopreneur, all you need is a vision based on what you are called to do.
You might call that your passion.
Mostly, you want to connect deeply with what is driving you to do this work.
Most coach solopreneurs value personal freedom highly. They are passionate about helping others. Many have a gift that they feel compelled to share.
Skip the paperwork to start.
Instead, create a vision.
Take the feelings you have and put them on paper.
You can create a narrative about the business you want to build, the clients you want to serve and the lifestyle you want to live.
You can take that narrative and make it into a vision board.
This is your North Star. This is your business plan for now.
This vision is what will get you up in the morning and to work in your spare time as you build an income.
My only super, down to earth suggestion is that you open a separate bank account in your name or in the name of your business.
To do that, you might have to register your company in your area.
Just google “register a new business” in the area you live in and you’ll learn how to do that.
It’s usually as easy as filling out a form.
But check, if you start a business in your own name, you may not need to register.
The bank will usually open a business account like that.
Pay for everything from that account and keep your receipts.
All this will help when you come to pay your taxes.
Even if you haven’t made a cent of income yet, you are preparing to do so.
It’s like digging ditches in a drought to prepare for when it rains.
It’s a great way to exercise faith.
Tip #3: Get used to feeling scared, overwhelmed, and ready to give up.
Oh yes, fear will surely show up in so many ways.
I coach my clients to write out a list of all the fearful thoughts and ideas that keep circulating in their minds.
- Things like, “I’ll never be successful,”
- “I don’t know what I’m doing,”
- “People will laugh,”
- “I’ll be in a financial crisis.”
Everyone has a myriad of fears. The key is to acknowledge them and let them go.
Learn breathing exercises or Tapping (Emotional Freedom Technique.)
Fear will be there. Overwhelm will happen often. And you’ll doubt yourself every time something goes wrong.
That’s the road to being a successful coach solopreneur.
I think most people in most jobs go through this. But when your goal is to become totally responsible for your income, the fears can become magnified.
I love breathwork. I love EFT. And I love a book called The War of Art where the author tells it straight about the inevitability of resistance and how to deal with it.
I find that when my clients, oh and me too by the way, learn to not make such a big deal out of fear, and to expect it, it starts to become less of a deal.
Find your way of dealing with it and practice it often.
You’ll get emotionally strong and incredibly resilient along the way. Bonus!
Tip #4: Understand all your options for making money.
Sometimes we get too narrow in how we think about making money.
If you are currently in a 9-5 job that you studied and trained for, you are likely reliant on one paycheck. And that seems normal, and comfortable.
As a coach solopreneur, you are best to understand the idea of multiple streams of income.
Think about what else you can offer along side your coaching business.
- Can you create a digital product?
- Can you create a course or group where more than one person attends?
- What about a retreat with yoga teachers, nutritionists and you?
- How about starting a blog or YouTube channel that you monetize?
See what I mean?
As coaches, we get too caught in the idea that we have this one skill and we sell it.
That means you are trading your time for money.
Seasoned business owners will tell you, that’s the same as working for someone. You’re just now working for yourself!
I know, you’re a lot nicer than your former boss but still, you don’t want to keep trading time for money.
That’s why you need to be aware of other options and get them into your business as soon as possible.
Tip #5: Find a mentor or hire a coach.
Yes, this may be a little self serving, but really, I do this work, coach people because I believe in it.
I did not have a mentor or coach when I started my psychotherapy practice 30 years ago. Well, I didn’t really know about them then. And it was tough.
I had to figure everything out myself and honestly, it was a tough slog. I could only get so far.
When I trained as a life coach, I hired one right away. What a difference! I had a mentor, someone who was doing it too.
I had a sounding board, someone who understood what I was going through, and I had an expert, someone who knew how to do it.
It made all the difference.
I have had several amazing people guide me since I started.
I found them all online. I Googled. I read blogs. I watched YouTube. I listened to podcasts.
And when I got an inner feeling that this would be a good person to learn from, I hired them.
I love my coaches and teachers.
I promise that these 5 tips will support you all along your business growth journey.
Great to share with you here. I hope you follow your dream.
Warmly,
Lisa