As a solo entrepreneur, it’s easy to get comfortable doing everything yourself. You have full control over your business, you know exactly what needs to be done, and you don’t have to worry about anyone else’s schedules or opinions.
But as your business grows, you may find that you can’t do everything alone. Maybe things start slipping through the cracks, or maybe you’re just feeling the discomforts of future growth potential and simply not enough hours in the day.
It’s at these moments you start thinking, you might need to bring in outside expertise, expand your offerings, or simply increase your capacity to meet demand. This is when building a team becomes essential. However, the transition from being a solo entrepreneur to leading a team can be challenging. In this post, we’ll explore the journey from being a solo entrepreneur to building a growing business and team and share insights on how to successfully navigate this process.
Challenges of Being a Solopreneur
Being a solopreneur can have its benefits. You get to make your own schedule, being the ultimate visionary and creator and there’s no one to tell you, no you can’t do that. But it also has its challenges as well. For example, it can be lonely and decision-making during challenges can be scary. But it also means limited resources (you) and even hold a higher level of risk.
When the future of your company is solely dependent on you as the visionary, product developer, customer service, marketing & sales, the future success of the business is dependent on you.
Finally, as success rolls in, scaling the business becomes a major hurdle. You can’t split yourself in two (or three or four), so you’re limited on the kinds of projects, work, or business you can manage at one time.
It’s time to grow!
Building a team is an exciting time in a small business’ life cycle. With new team members means increased capacity, new ideas, and new energy. When considering adding team members there are a few important things to keep in mind:
- Create a growth plan prior to jumping in: Before adding team members, it’s important to have a growth plan in place that identifies the direction you are going. This plan should outline your business goals, the resources needed to achieve them, and a timeline for growth. This will help you determine the type of talent you need to add to your team and when to bring them on board.
It will also help you ensure that you build at a pace that is sustainable for everyone. You want to ensure that your growth is supported by a solid foundation.
- Delegate Your Duties First – When moving from solopreneur to a growing team, the first thing to keep in mind is you have to have the time in your day to manage the growth. That means the first person you hire should be taking responsibilities OFF your plate.
Start by listing all the things you’re doing every day both working in and on your business. Then focus on delegating the things you’re weakest at and/or bring you the least amount of joy.
This may seem like a no-brainer…and it doesn’t mean you’re just passing off grunt work. We’re literally not built to be brilliant at 100% of the things 100% of the time. And there are amazing, talented people out there that get out of bed energized to do the things you’re not good at. Find the person whose genius is your kryptonite!
- Clarity on Roles needs to be clear: As you start to build your team, it’s important to have clarity on everyone’s roles and responsibilities. This includes defining the specific tasks and projects each team member will be responsible for, as well as any specific goals or metrics they’ll be held accountable. Clear roles and responsibilities will help ensure that everyone is working towards the same objectives and can help avoid confusion or conflicts.
- Prepare for growing pains both internally and externally: As you start to build a team, it’s important to be prepared for growing pains both internally and externally. Internally, this may mean adjusting to new workflows and processes, navigating team dynamics, and managing a growing workload.
- Externally, you may need to adapt to changes in the market, address increased competition, or navigate changes in customer expectations. By anticipating these challenges and having a plan in place to address them, you’ll be better prepared to navigate the transition from being a solo entrepreneur to building a growing business and team.
- Build Systems & Processes Before You Hire – This includes streamlining workflows to eliminate unnecessary steps and avoid bottlenecks, as well as managing communication and collaboration to ensure everyone is on the same page. Additionally, it’s important to establish clear expectations for performance and accountability, so everyone knows what they’re responsible for and how their work contributes to the overall success of the team.
Conclusion
It can be a scary time growing your business from an army of one to an army of many, but with good planning and a clear picture in mind of where you’re going, your future is bright. If after reading through this, you are on the fence if this is the right step for you and your business, consider this recent post we wrote about automation vs. team. And if you still need help with charting your course for growth, we offer free strategy calls and would love to help! Click here to book a call.
