Solopreneurship Insights and Recommendations

 

I’ve been a full-time financial education solopreneur for almost six years, following 27 years of side hustles, so I thought I’d share some insights and best practices based on my experience.

Insights

Some Clients Come and Go- Some clients rebrand themselves, change program focus, get bought out by other companies, or lose funding. In addition, some key personnel that hired me for projects left their employers. Expect that some business relationships might be short-lived.

LinkedIn is a Key Connector- A number of clients have found me through LinkedIn since I built out my profile in 2020. They obviously searched my profile and then sent a connection request. Some later reached out with a DM to start a conversation about work projects.

Work Should Be Fun- Full disclosure: I receive a pension, Social Security, and investment income, which pay all of my living expenses. Income from my company, Money Talk, is “gravy.” That said, I turn down jobs that I know will have stressful deliverables and/or clients.

Good Records are Essential- Once Money Talk became a full-time enterprise, I created two Excel spreadsheets, one to track annual income and one for business expenses. The spreadsheets help me with tracking accounts receivable, revenue estimates, and tax planning.

Dovetailing Projects Saves Time- Over the past 5+ years, I have created and taught over thirty face-to-face class presentations for a client. They are often the source of content for blog posts and webinars for other clients. In other words, I try to work smarter and not harder.

AI is a Time Saver- Since I first logged into ChatGPT in February 2023, I have increasingly used AI as a work enhancement tool. Gemini and ChatGPT are now my virtual BFFs. I use AI to brainstorm content, develop presentation outlines, create class handouts, and more.

Niches Attract Clients- Since 2020, I worked hard to market myself as an expert in financial topics germane to older adults via LinkedIn, “working out loud” on social media platforms, and networking. It appears to have paid off with several new clients seeking me out for this reason.

Recommendations

Below are five tips for other solopreneurs, regardless of the field that you work in:

Automate Repetitive Tasks- Create templates for spreadsheets, invoices, and letters of agreement with clients, Some people also use platforms like Calendly for scheduling.

Schedule Time For Business Growth- Block out your calendar for marketing activities and professional development (e.g., conferences, webinars, and training).

Protect Time Boundaries- Set defined working hours and manage client expectations about your availability during non-work hours and vacations.

Maintain a Consistent Marketing Routine- Post on social media or publish blog posts regularly (e.g., every Thursday) to stay top-of-mind with clients and potential clients.

Focus on Repeat Clients- Remember that it is cheaper to retain a happy client than find a new one. Suggest follow-up services and consider discounts for large or repeat projects.

This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. It does not endorse specific products or services and should not be construed as legal or financial advice. If professional assistance is required, the services of a competent professional should be sought.