It happens. Unfortunately, we are not immortal and all in perfect health. Inevitably, we all will get sick at some point during our business ownership careers. If you know my story, you know that I have chronic conditions that have landed me in the hospital (very recently, in fact). So, how can your business survive your extended illness?
What Would Happen To Your Business
If you are a solopreneur, this is an especially important article to pay attention to because it could save your business. What would happen to your business if you were hospitalized or ill for more than a few days?
It is a valid question and probably one you have considered. Perhaps you are unsure of the answer, so let me help you protect your business.
Let me take a minute to talk about interruptions. As business owners, we must learn to adapt to interruptions. It’s not about how to keep them from happening it’s about adapting and adjusting when they happen – because they will happen, my friend!
fearless business boss
My Example
I could have lost my business had I not had a team in place to handle all of our client’s needs while I was hospitalized and during my recovery (nearly a month). Please do not think it can’t happen to you.
Below we discuss a number of reasons why you should not put off bringing on a virtual (subcontracted) team to help you.
Solopreneurs Do It All
As a solopreneur, you most likely do it all in your business. It is often how we all start. This is fine in the beginning as we learn the ropes and discern all the necessary processes and systems that need to take place in the business.
As you develop your business further, however, you should not continue to do every task in your processes. This can prove inefficient and, in the end, cost you clients.
When you do all the tasks in your processes, you will discover that there are some tasks that you do not like and possibly others that you do not do well. There is no shame in admitting that you do not do everything perfectly. There is power in admitting it.
When you are vulnerable and share your weaknesses with others, it permits them to also be vulnerable. This is what being ‘real’ means.
-tammy Durden
Tasks You Don’t Like To Do
The tasks you don’t like, especially those you do not do well, should be outsourced to help your business grow.
Why did I say it may cost you clients? The reason is that as you take the extra time needed to manage your business processes, the ones that fall in this category (don’t like & don’t do well) will take you more time to complete. This takes away time that you could be networking, speaking to prospective clients, and doing other tasks that you do well.
Overworked and Need Help
The other issue for solopreneurs is that we always need help. Saying you cannot afford it is almost the opposite of what you should do. If you do not get the assistance you need, you again limit your ability with prospective clients.
By outsourcing or bringing on a virtual subcontracted team, you give yourself time back. This time can be used to start conversations with more prospective clients. This means that you should be onboarding more clients, creating more revenue. The revenue is almost always more than enough to cover the expenses related to your team.
Time Management Factors
Time management can also factor into how your business is affected by an extended illness. If you utilize your time wisely and use tools to do so, your team will also be able to access these tools while they cover you during your illness.
Using project management software is a must. This can help you set deadlines, organize projects and clients, and keep you on track for completing your work. One of the project management tools I love to use is Wrike.
Wrike can be set up as a board, for each client, or as a to-do list. I love its versatility and ease of use. It also allows you to add five team members and unlimited collaborators, all for free. If, however, you have to update from there, it can be a bit expensive. I found I never needed to upgrade while I ran my agency for years, including cloud storage.
There are other project management systems available, such as:
Delegating
After you set up your project management system, it is important to learn to delegate to your virtual team. If you have never worked with a team, you may find it difficult to begin to delegate. Our business is our baby, and trying to loosen control can be difficult.
Remember, however, that by letting go, you give yourself more freedom and time.
USE ONE OF THESE QUOTES:
“Learn to be a little less of a control freak. Delegate and let people do their job. Have folks who can think without your influence. It makes for better business and less worry should you become sick. Ask yourself, “If I let this person do this on their own, what’s the worst that can go wrong?”
Help The Team Protect Your Business During Illnesses
After you recognize that you cannot do it ALL alone and all well and that being overworked does not help the business, setting up your virtual team for success is an obvious choice.
Start by outsourcing and delegating tasks you do not like doing and tasks you do not perform well.
Free Checklist to Help You
To help you decide which tasks to delegate first, I have a great checklist tool for you. Download it and discover the tasks you need to outsource today.
Then begin delegating so that the entire business does not rest on your shoulders. When you delegate, try to delegate client tasks as well.
“Use my W-O-N-D-E-R System in the checklist (download from the link above) to help you label your tasks correctly. This will help you know which tasks to outsource first.” –FBB
By doing this, you are helping to guard your business if you should ever have an extended illness. After all, by equipping the team you are not only saving the business but you are also ensuring that the team will have work too.
Final Thoughts
As solopreneurs, it is not easy letting go of parts of our businesses, however, it is worth it. Allowing others to come alongside us to help build, grow, and scale the vision we have for our businesses allows us the opportunity to work on our businesses not always working in it.
This is a necessity if we are going to grow the business. Without time to plan strategically, we will never grow past ourselves and the services we can provide. In the end, we can only work so many hours in a week and will never be able to work more. If you want to provide more hours to your clients or bring on more clients, you must learn to build that virtual team (outsource).
Will you set up your business in a way that if an extended illness happens, it will survive?
Have you already had an experience where you had an extended illness as a business owner?
Tammy Durden is a thought leader, speaker, and business coach for online service solopreneurs.
Tammy has established herself as an authority figure over the last 17 years of owning several online service businesses. She specializes in helping women online service providers grow a business to fit their lifestyle not squeeze a life around their business.
She loves teaching them how to.
Earn More and Work Less
Reach out if you need help growing your business or if you are ready to build an agency! This is her sweet spot.