Most of us with small or micro businesses start as solopreneurs. Eventually, if your business growth is consistent, you outgrow it. This can be a good thing, but if you haven’t noticed the signs yet, then let me share them with you. In this article, I share 7 signs that you’ve outgrown being a solopreneur.
As a solopreneur, you’ve been killing it, but now you are a small business. This can bring a sense of heaviness to it, doesn’t it? No matter where you are in your business journey, you will come to a place when you know you have to do something! You may have even become stagnant in your growth because of it.
Solopreneur
“In an online service business with a solopreneur, there is a way to grow beyond this point. You can begin to build your virtual team by adding subcontractors to help you work with clients.” -FearlessBusinessBoss Blog
What Is Blocking Your Growth?
We all have invisible barriers that get in the way of our growth. I will go over seven signs that may be blocking further growth as a solopreneur.
- Client deadlines are getting missed
- Revenue has flatlined
- You cannot accept new clients
- Missed by your significant other
- You are overwhelmed and stressed all the time
- No days off in months
- Your marketing cycle has stopped
Client deadlines are getting missed
It happens to all of us occasionally for various reasons, but when you repeatedly miss deadlines, that is a problem. Your clients may even extend you grace; however, it bothers you.
You know you can and want to do better, but you are so busy that you cannot see how you continue to meet your clients’ deadlines.
Revenue Flatlines
This is a big red flag! If you’ve noticed that your revenue has stopped growing and has flatlined, you have a problem.
Flatlined revenue means you have stopped growing. You may not think this is significant, but consider what would happen if one client decides to discontinue retainer services with you. Would it hurt?
If you answer “yes” to this question, you need to begin taking action. You have revenue that has flatlined because you’re no longer growing.
What happens next is that your revenue begins to decline. I’ve seen it over and over again working with clients. Just when they think everything is well and they are busy, suddenly that revenue begins to decline.
You cannot provide your best services to every client when you are maxed out and overwhelmed.
Cannot Accept New Clients
If you are full or overfull with clients, then you cannot accept new clients. You’ve closed the door on bringing on more clients. This is a very dangerous place to be because you may be turning clients away as well.
You never want to be in this place unless you have set up a referral network that still allows you to earn from those you turn away.
You Are Often Overwhelmed or Stressed
I’m sure you can imagine that if all of these are happening in your business, then of course, you will be overwhelmed and stressed often.
If you are constantly stressed or overwhelmed by your business, that is a sign that you need to stop and review all of these things.
You may need to make some difficult decisions to get rid of the stress and overwhelm.
Missed By Significant Other
You may also be hearing complaints from your significant other, children, and friends. And your significant other may be missing you.
On occasion, this is not a problem, but when prolonged with no changes can create real issues in relationships.
If they are asking where you are or when you are going to stop working so they can spend time with you, that is a sign to consider.
No Days Off In Months
Of course, if all of these are true (or even a few of them), you have more than likely not taken any days off in months.
This is very common in solopreneurs, but it doesn’t have to be true. You must take a day off. Whether every week or every couple of weeks (if really busy) it is important for your own wellness.
It is also important for the relationships in your life.
Your Marketing Cycle Has Stopped
When you are missing deadlines, cannot accept new clients, and your revenue has flatlined, then you’ve most likely also stopped your marketing cycles.
The marketing wheel (as I call it) must continue to move with or without you. You have to keep it turning.
If you do not, then you will cut off any new clients automatically. Then, if you lose a client, you don’t have anyone waiting in the pipeline ready to go. You must have others ready to come on by continuing your funnels even when you are full of clients.
This too often stops, however, when we are busy, especially if we are doing everything in our business.
Solutions
You may be reading this and wondering what you can do. There is a solution to these 7 signs.
The solution is to hire a subcontractor to work with your clients. Eventually, you will also have them helping you with your backend, but initially, it is important to give them tasks that bring in revenue.
You can even start with the next new client if you hire the right subcontractor. They will know exactly what to do. They only need to access to your processes and how you do the tasks for your clients.
You will be amazed at what a relief it can be to bring one on to help you. By having them start with a new client, you are not losing any money initially. You gain the percentage that you do not pay your subcontractor.
Final Thoughts
Yes, as solopreneurs, we try to do everything. This is especially true for online service providers. It’s in our nature to help others.
Don’t let any of these 7 signs bring your business down. Regardless of how many signs your business is exhibiting today, you can change them around tomorrow.
It can change by bringing on subcontractors to help you.
