THis guest post is provided by Courtney at GigSpark.biz. Courtney hopes to be a resource to people who are looking to join the gig economy, either to supplement their income or as a way to fulfill their dreams of becoming an entrepreneur.
You’ve worked single-handedly to build your dream business from the ground up, and you should be proud of all of that hard work!
If you want to continue this success, you should also be aware of when it’s time to stop going it alone, and when it’s time to considering outsourcing. Because when business is booming, it can be difficult to multi-task and stay productive, and there are certain things you just can’t leave up to chance, including:
Your Online Security
Creating a successful modern business these days requires a strong digital presence. You need to be able to connect with your customers via various online channels, including email and social media. Maintaining this active digital profile can enhance the reputation of your business, but unfortunately it can also open your business up to online threats.
As profitable as a digital profile can be for small businesses, data breaches can be even more costly. The average cost of a single data breach can be upwards of $4 million dollars and 80% of people said they would stop doing business with a company after a breach. So if you want to protect your startup’s success, guarding your connections and your information securely is a must.
When you’re working on all of those emails and social media posts, you’re most likely doing so from home. Working from home is one of the many perks of being a solopreneur but this can be a tricky transition if you are accustomed to working in a busy office. The first step in managing this transition is to set up an organized space, but the very next step should be to fill it with tech that will help keep you focused and productive.
For example, if you are still working off of an old and outdated laptop, investing in a budget-friendly model with a faster processor and more features can help you get more work done. You can also use your smartphone to maximize your productivity by downloading project and task management apps. These apps will organize your “to-dos” in one convenient spot and make collaborating with clients and freelance easier.
Your Marketing Plans
So, if you are thinking about hiring freelancers to boost your small business, you may want to begin with a marketing consultant.
A marketing consultant can strategize with you to identify your target customers, and then he/she can help you tailor a marketing plan that will maximize your connections with these consumers. Plus, what you spend on a marketing consultant can be made up in what you will save in wasted advertising dollars. A marketing consultant can also help you figure out which apps and tech tools you should use to execute your new marketing plans. This can include social media marketing tools that make it easier to engage with your target customers.
Your Accounting Tasks
Finally, you shouldn’t take chances when it comes to your accounting and taxes. Filing taxes as a solopreneur can be a very complicated process, especially when you are so used to having your employer deduct taxes directly from your paycheck. Whether you file your self-employment taxes as an LLC, S Corp or C Corp, figuring out what you owe and what you can deduct can be extremely challenging.
You can use tax preparation software to help reduce some of this guesswork but doing so won’t eliminate the chances for a very costly mistake. You could end up missing out on thousands in savings or end up with thousands in penalties. Instead of working solo or using software, you may want to consider hiring accounting help.