Category: Career

Starting and running a one-person business is hard. But it can be rewarding. It’s tough to do everything yourself. But on the other hand, you have complete control of your schedule and work environment. Many people find that they’re more productive when working for themselves than when working for someone else.

And being in charge means you don’t have to worry about what anyone else thinks. If something isn’t getting done, or it needs to get done differently, it falls on your shoulders. So, while starting and running a one-person business may not be easy at first, with these tips on how to launch and run a successful solo enterprise, you might make it happen.

Consider Warehousing And Fulfillment Services

To launch a successful one-person business, order storage and fulfillment are one of the most demanding tasks you will ever deal with. But there’s hope. Consider warehousing and fulfilment service providers to help you out.

Many fulfilments service companies like Printful offer fulfilment and order management. That means you don’t have to worry about tracking inventory or shipping orders yourself.

Learn How Warehousing And Fulfilment Service Works

Warehousing and fulfillment services are often used interchangeably, but there’s a difference between the two. Fulfilment service specifically refers to inventory storage, pick & pack, or order fulfilment. On the other hand, warehousing can include fulfilment services, but it may also refer to storage only.

Fulfilment Service

Fulfilment service is the process of storing, packing, and shipping your orders from a warehouse. After a customer order with you, this service will pack your items and label them with your individual shipping information. Then they will ship the products to the customer. This can be a great time-saver because it means you don’t have to worry about tracking inventory or shipping orders yourself.

Warehousing

Warehousing is essentially storing your inventory in a warehouse. This is ideal for a one-person business because it means you don’t have to store products at home. And there’s no need to worry about managing your stocks. Thus, allowing you to focus on your core business.

Utilize Technology

Technology is a valuable resource for any business owner. Make use of technology to help manage your one-person business. These tools include online accounting programs, customer relationship management (CRM) systems, payment systems and all-in-one marketing tools.

These tools can help you stay on top of your business, increase potential profits and lead generation, and save time by automating some of the menial tasks associated with your business.

Develop Systems And Processes

Develop systems and processes to run your business more efficiently. For example, you can: gather all the information you need to start your business. Learn everything you’ll need to do (like how much inventory, shipping or purchasing will cost, and what tools you’ll need to make it happen). Learn about different business models (like whether you want to sell products or service). And then make a plan.

To make a one-person business successful, you have to work smarter and not harder. When deciding to start your own business, it’s crucial to plan how you will structure your business, both from a day-to-day operation standpoint, and from the vantage of long-term growth and development. When you develop your business plan, you need to create systems and processes that are manageable and scalable.

Use Social Media To Promote Your Business

To help generate interest in your one-person business, consider using social media and other online methods to promote your products or services. Social media platforms can drive targeted traffic to your business, and help you build a following around your brand.

Start With One Product Or Service, Then Add More As You Grow

For a one-person business to be successful, it’s essential to start small. Don’t try and jump into a huge launch with several different products and services. Instead, develop one product or service at a time, then add more based on the following:

• Your budget
• How much time you have to spend on your business, products and services
• The demand for additional items

Taking the time to focus on just one product or service at a time will help you avoid getting overwhelmed. It will allow you to grow your business at a more manageable pace.

Final Words

If you’re a one-person business, it can be tough to stay organized, and keep up with the day-to-day processes.

Fortunately, there are many tools available that will help make your life easier. Automate tedious tasks by utilizing the latest technology, giving you more time to dedicate to what matters. You may also want to consider using social media platforms as part of an overall digital marketing strategy.

Lastly, consider outsourcing demanding tasks like warehouse management and order fulfilment so you can focus on the bigger picture of growing your one-person business.

Starting an online business is not as easy as many people think it is. You don’t just need a website. Like any other business, you need an overall plan to successfully launch an online business. Research shows that almost 80% of start-ups fail within a year because of a lack of planning. Still, don’t panic! Just start planning now and use the following tips as a guide.  

Research Well 

Just like you have to research a company before an interview, you have to research your competitors before starting a company. Believe it or not, your unique idea could have been implemented before, which means you already have competition. Still, that doesn’t mean you should give up on your idea. Myspace started the idea of social media first, but it was Facebook that reaped the benefits. So starting first doesn’t mean success; it only means you have a competitor you need to properly research and study. 

Choose a Business Model 

What kind of business do you intend to start online? Is it a membership site or maybe an online store? If you decide on building a membership site, don’t confuse it with subscription sites as they are different models. Membership sites are more dependent on loyalty as you support a brand or a cause that you like; on the other hand, you pay a monthly subscription for any service on a subscription-based website, so it is not a long-term commitment. For example, Sephora.com is a membership-based service while Netflix is a subscription-based service.

Understand Your Audience 

As a business owner, you need to have a certain buyer persona in mind in order to successfully launch your business. Think about who your audience will be, their age, hobbies, work,  concerns, monthly income, abilities, etc. The more details you have in mind, the better it is to plan your marketing strategies. 

Set Up Your Mission and Vision 

Your mission statement is your ‘Why.’ It is what differentiates you from others in your field. Why is what you are doing important to people? Why should people support you? The answer to these questions is what connects people to your brand and sets you apart from others. To help you understand more, read about Coca-Cola’s mission statement and its implementation.  The company’s mission statement is to refresh the world and create happy moments, which is exactly the image people associate the brand with. 

Set Up A Business Plan 

Now that you know your competitors and your mission, it is time to set up a business plan with all the requirements of every aspect of your business. What is your product? Where will you get the funds? Will you need human resources during the first stage? You will also have to think about the legal steps you need to take to register your business in your country. Even online companies require specific procedures for registration, so consult your lawyer or ask for legal help if you need to. 

Analyze All Risks

There are many risks you have to keep in mind as an entrepreneur. Perform a SWOT analysis of all the opportunities, risks, threats, weaknesses, and strengths you can think of for your business. Then, think about the insurance policies your business may need to cover some of the risks. For example, if you have a machine that your production process depends on, you might have to buy a machinery all-risk insurance policy. 

Calculate Your Human Resource Needs

Usually, start-ups don’t need many resources, so focus on your minimal needs to keep the ship going with minimal expenses. As a business owner, you are not expected to know every aspect of the business; however, you are expected to have the skills to analyze the elements you need help with. For example, search for an accountant if you don’t trust yourself with numbers. On the other hand, if you are good at writing, you might not need a content writer at first. 

Additionally, think about the legal aspect of your business. Do you know a good lawyer who can handle things like contracts, business registration, etc.? If not, you might have to ask around. 

Set Up Your Website

An online business depends heavily on the website, which means you need to think thoroughly about how your website should look and what resources you need to build it successfully. If you only have one service, then you will need a static website, which means you might not need much help in terms of technology. If so, think about using services that help you set your website easily, like Squarespace, Wix, and WordPress. Still, don’t use their basic themes. A tailored website with a specific logo and design ensures you have an identity that people can connect with. So even if you manage to save up on IT help by using a content management system, hire a web designer and an illustrator to design your logo and site structure. 

Ask for Advice 

As an entrepreneur, you don’t have to think that you always need to do everything by yourself. It is easy to stumble and fall if you increase the burden on yourself. Instead, relax and look for others who made it and seek their advice when needed. Ask around your industry for successful individuals who can help you and attend their webinars, workshops, and events for some insight. You can also hire a coach to help you if you feel direct advice is what you need. 

Finally, try not to be too intimidated by the idea of starting your own business that you end up giving up before you even take your first steps. If you have read this far, there is a good chance you already have a plan in mind. Keep that plan and take notes on how to develop and improve it further. Think of becoming your own boss as a new challenge and do everything to succeed. Have the discipline needed to follow all the steps above, and you will easily map your way to success. 

In their Home Business Handbook, editors of Income Opportunities magazine reveal that only 20 to 25 percent of home-based businesses fail in their first five years. On the other hand, all small businesses have a failure rate of 50 percent, according to an article on Inc. It’s no secret that almost all business ventures that have success stories start small. For example, Apple and Amazon were launched in home garages. So, if you’re an ambitious entrepreneur, don’t be afraid to start your venture from home.

However, like any other business, taking your home-based venture to the next level of profitability and growth can be daunting. In most cases, home-based business owners try to handle everything by themselves. They also invest a lot of money hiring people to assist them, resulting in low-profit margins. Fortunately, there are ways you can improve your business and attract customers without much hassle. Read on to get an idea of how to set up a home-based business for success and growth. 

Come up with a business idea

Generating a business idea is the most critical step to starting a successful home business. If you’re like many entrepreneurs, you probably know what kind of business you want to establish. For instance, let’s say you’ve been a real estate agent for years. You can leverage your expertise to start a home-based real estate consulting agency. If you don’t know what to do but want to break into the business world, you’ll need to brainstorm ideas for your venture. But with so many business options to consider, choosing the right one can be overwhelming. Therefore, create a list of businesses you can start at home and select those in line with your passion and interests. For example, you may consider becoming a freelance writer, virtual assistant, business consultant, or personal trainer. Also, think of target consumers, market demand, profitability rate, and skills to ensure your potential business has chances for success. 

Plan for success

For aspiring entrepreneurs, starting a business is a fun and fulfilling experience. However, the excitement won’t find you the success you desire. With this in mind, be prepared to take action, which requires a lot of planning. Start by researching your target market to ensure there’s demand for your products and even identify your competitors. Successful entrepreneurs also recommend understanding your target consumer based on their interests, age, and location. Once you’ve identified your ideal customer, focus on creating a business plan. A detailed business plan highlights your specific goals for your venture and what you need to do to become successful. 

Invest in the right insurance coverage

Whether you’re working alone as an independent contractor or have employees, purchasing a home business insurance policy should be a top priority. You can buy different types of business insurance, including business owner’s policy, general liability, and professional liability insurance. You’ll also need worker’s compensation coverage to prevent financial impacts that arise when you or an employee get injured at the workplace. 

Investing in workers comp insurance provides enough funds to compensate employees for lost wages and medical expenses. If you’re managing your home-based business alone, this policy covers your medical bills, lost income during recovery, and emergency room care. That way, you don’t have to use personal finances or assets to cover for workplace injuries. Purchasing workers’ comp insurance also protects you against lawsuits when an employee gets injured at work.  

Don’t forget to create your business identity

Every successful business, regardless of industry or size, has a strong brand. Therefore, create a unique identity for your home-based business. Creating a unique business identity makes your brand memorable so that customers can quickly identify your products in the market. To create a reputable brand, come up with a unique business name and create a logo. It’s also wise to design a website and appealing packaging materials, and then develop a marketing strategy that helps you meet your company goals. This step entails designing ad materials like coupons, fliers, and newsletters with your logo. Also, create a digital marketing campaign that allows you to stay visible online and reach a larger audience. 

Establishing a home-based business is an excellent way of taking control of your time and income. However, before you can set up your home business, ensure you have a business idea with the potential to earn high returns. Also, create a unique brand identity, buy the right business insurance, know your ideal customer, and develop an effective business plan. 

As a manager, you have a lot of work to do. Near the top of your to-do list should be ‘keep employee morale high’. When this is successfully done, employees perform significantly better. Plus, they stay loyal to your company – which is the dream for any manager.

Keeping employee morale high is easier said than done, though. There are a wide range of personalities and roles to deal with. It might be easy to boost one employee’s morale – but the next employee could prove to be more difficult.

To help you with this, here are some helpful (and fun) tips and tricks to immediately boost your employee morale.

1. Play games

Your team works hard every day, so they’ll appreciate any fun they can have together. One of the best ways they can do this is through playing games.

Now, it’s probably not the best idea to play games in the office – as this can cause a commotion. Instead, you should arrange social nights where employees come together to your house to relax and unwind. Here, you can play games and forge a strong bond together.

These days, a lot of people are getting together in groups to play online casino games. Online casino games are the ultimate source for making social nights exciting and memorable! You and your team should start by playing All Slots Casino. You never know, one of you might hit the jackpot!

2. Allow employees to work from home

The modern business environment is evolving fast.  Over the past year, more and more companies have started allowing their employees to work from the comfort of their homes. In addition to this, companies are also hiring remote employees.

This is great, as it saves office space and stops employees from needing to needlessly travel to the office every day (when in reality, they can do everything from home!).

So, providing your business model allows it, consider offering employees the chance to work from home. This doesn’t have to be every day, by the way. For example, they could do three days in the office per week and two days from home – you get the idea.

3. Hold regular performance meetings

Performance meetings are an excellent way to let your employees know what they’re doing right. Basically, you can give them a pat on the back and tell them to keep doing what they’re doing. Of course, you should also provide constructive criticism – but the main aim is to keep your employee’s morale levels high by letting them know they’re appreciated!

4. Create a relaxation space in the office

If you have a busy work office, it’s recommended that you create a relaxation space where employees can go to have a drink, kick their feet up, and relax for 20 minutes or so. This will ensure that they don’t overwork themselves while keeping their minds fresh.

5. Invest in the best equipment

As the famous saying goes, ‘a workman is only as good as his tools’, which is still relevant today.

For example, if you are the customer service department manager in an office, your employees should have comfortable office chairs and desks, plus excellent headsets. This will maximize their performance levels and keep them happy!

Nowadays, having a side job has become more of a necessity rather than just another way of earning extra bucks. As the global economy tries to rebound from the ill effects of the COVID-19 pandemic, there are still people who are struggling to make ends meet.

Enter side jobs. While the term suggests that you do them alongside your full-time work, some people have turned them into their main bread and butter, allowing them to earn as much as they can.

In a recent study conducted by Upwork, it was revealed that 32% percent of first-time freelancers started freelancing right after finishing college, while 22% got into it after losing or being laid off from their job because of the pandemic in 2020.

This only goes to show that freelancing or getting a side job isn’t just for skilled individuals who already have full-time jobs but also for those who are starting or restarting their careers. 

Let’s go over some profitable side hustles that you might want to consider.

Online Tutor 

Tutoring has long been a popular side hustle for a lot of college students and professors. In fact, online tutoring has been around longer than the recent shift to online classes. There are already a number of platforms where people can sign up and find a tutoring gig.

A great example of a tutoring job is teaching language online. If you apply to work for Preply.com, all you really need is knowledge and expertise in a specific language. Apart from English, they have teachers offering Spanish, French, German, and Italian language classes. 

Content Writer

If you have experience or skills in writing, or if you’re a fresh graduate who is used to churning out papers on a weekly basis, then content writing might be the perfect side hustle for you. As a content writer, you’ll do a variety of web content for companies spanning different industries.

To launch your writing career, it may be a great time to put together your previous works that can reflect your skills, as some companies do look for a portfolio in order to apply.

Graphic Designer

If you have a keen eye for the arts and are passionate about creating graphics, there are a lot of websites and platforms out there to help you monetize graphic design skills. Who knows you could be designing website banners or infomercials for multinational corporations!

Just like content writing, putting together a portfolio would be your first step if you want to enter this kind of side hustle.

Ride-share Driver

Now, not all the best side hustles out there are online or internet-related. There are still some that you can do outside your home, more so on your way home, or to work or anywhere really. 

Ride-share applications have been godsent for people who want to economize on their transportation costs.

Earnings from ride-sharing depend on the application that you will sign up for and the type of service and vehicle you can offer. On estimate, if a driver works 15 hours a week then they will earn somewhere near 17$ an hour. Not bad if you’re just sitting at home, or on your way back home and not in a hurry!

Virtual Assistant 

As baffling as it may sound for those who have worked all their life inside an office, yes, a virtual assistant is a real job. With a lot of people shifting to a work-from-home setup, the line between work and home has been a blur, and most desk job workers who are now at home might need an extra hand. 

Virtual assistants are no different from your “normal” assistants in the office. Being a “VA” entails doing a lot of tasks, from answering emails and entertaining clients to booking hotels and flights and even ordering groceries. You’re essentially being your boss’ assistant from the comforts of your own home or workspace.

Overall, if you’re looking into getting a side job or joining the hustle culture, all you need is a huge trove of skills up your sleeve, as there are a lot of companies just waiting for you to lend your hand. Go and try these side jobs out!