06 Oct Using Tech and Freelancers to Grow Your Business
As a solopreneur, you likely wear many hats in your business. However, there may come a time when an extra set of hands are helpful, and freelance or consulting assistance can be a big boost. Good utilisation of smart tech can also be a way to advance your business without having to hire support staff. The Endless Coconut can be another resource for helping you get established, build your business presence, and lay the groundwork for long-term success.
Getting Yourself Formally Established
One of the key priorities of being a sole proprietor is that of formally establishing your business. This might include forming a limited liability company (LLC), which can protect you against some types of liability, offer tax advantages, and require less paperwork while giving you more flexibility. Every state has different regulations around LLC formation, so you’ll want to learn about yours in advance. You can manage a formation yourself, hire a pricey attorney, or, your best bet, use an online formation service company like ZenBusiness to do the work on your behalf.
Hiring Freelancers
The great thing about hiring freelancers or independent contractors is that you can typically utilize them as needed, without having to take on the cost of a full-time employee. You can find appropriate freelance help via online job boards and from referrals from trusted friends and colleagues. Some work that lends itself well to freelance assistance includes web design, marketing and communications, advertising, and tech support. You may also utilize a freelancer for accounting, tax preparation, and potentially even legal needs, like contract negotiation.
Managing Independent Contractors
To get the most out of your freelance hires, it’s important to provide specific direction about the type of work you need to have performed and the time frame in which you need to have the work completed. Utilizing a creative brief or a request for proposal document can help ensure that you and your freelancers are on the same page with regards to expectations, direction for projects, timeline for delivery, and payment. You’ll have to give your contractors 1099s at the end of the year for tax purposes, so keep this in mind when you’re tracking projects and payments.
Using Tech to the Fullest
Technology can augment the way you work in numerous productive ways, and the type of tech that will work best for your business depends on the type of work that you’re doing. For example, tech that benefits all types of business includes applications that help with project management and organization, such as generating invoices and contracts, tracking inventory, and managing finances.
Programs like Zoom can keep you connected with remote clients and freelancers. According to the U.S. Chamber of Commerce, other leading tech tools include all-in-one digital workspaces, machine learning technology, mobile scanning apps, and cloud-based file sharing.
Protect Your Assets
Regardless of the size of your business, smart use of technology can help improve your operational functions, as well as keep client and proprietary data safe. According to PC Magazine, in addition to backing up data and utilizing malware and cybersecurity measures, having a recovery system in place can be highly beneficial.
While it may require an upfront cost, the return on investment can be substantial. If you suspect any type of malicious attack on your system, reach out to the Federal Bureau of Investigation cybercrime division.
Starting a solo business can be immensely rewarding, but to be successful, it’s important to ensure that you’re effectively planning out your business strategy and monitoring your progress. Resources like chambers of commerce and small business development centres can be exceptional resources during this process.
Learning to be a successful business owner takes time and effort. Acumen Learning can be your partner in devising strategies for building your company, making savvy decisions, and ultimately outperforming your competition. Reach out today to learn how.
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