When we hear the term leadership, we tend to think of employees, teams, and management. Most of what is written on leadership leans towards that scenario.
But do the same leadership principles that apply to leading and managing a team of employees also apply to the solopreneur? The answer is yes. It is called self-directed leadership, and it requires many of the same skills as the person who is leading a team.
What is a solopreneur?
A solopreneur is someone who starts and runs a business on their own without employees or partners. They may periodically enlist the help of a VA (virtual assistant), but for the most part they do everything themselves.
The main reason people go this route is to have the ability to work anywhere they want, take on the clients they want to work with, and create the business they want to create. There is a certain amount of freedom attached to being a solopreneur that is attractive to some people.
But freedom can be a double-edged sword if you lack the basic leadership skills required to build a business and to become a solopreneur who is a self-directed leader.
Here are eight leadership skills required of a solopreneur...
1. A clear why
Getting clear on why you are in business will keep you going when you run into rough patches in your business. It’s important to keep your why front and center. When people are criticizing what you do or offering their input, you need to be able to stay on track and not get distracted from the path you are on to reach your goals.
You may still have to pivot periodically, but it's important to stay on your chosen path to success in your business. Having a clear why will keep your confidence level high and your belief system intact.
The first thing to think about when you are clarifying your unique why is to ask, “What gets me out of bed in the morning and makes me excited to face the day?” Think about what brings you the most joy and fulfillment.
2. Time management
This is where solopreneurs sometimes get in trouble. Remember that freedom thing I mentioned earlier being a double-edged sword?
Since you don’t have anyone to answer to, it’s tempting to go have coffee with a friend, wash the car, do the laundry or anything other than work on marketing or some other task that will ultimately grow your business.
You tell yourself it’s just an hour of your time, and it’s not a big deal. But it is a big deal. Because that is an hour you could have used to work on or finish a moneymaking project. It is an hour you could have used to make phone calls or write an email to your list that could potentially lead to getting more clients and producing more income.
Knowing how to plan and manage your time is a valuable skill to develop as a solopreneur. Plan your day/week in advance so you know how you will be investing your time every day.
3. Discipline
Having the discipline to get what needs to be done when it needs to be done is a valuable skill to have as a solopreneur. Planning your day/week as mentioned above is a huge step towards becoming more disciplined. Knowing what to do and putting a timeline on getting it done will make it much easier to stay disciplined.
When you don't have deadlines for completing tasks, it leads to procrastination, feelings of guilt and overwhelm as tasks you should have completed pile up. Developing the discipline, behaviors and habits that lead to productivity improvements in your business will help you build your business faster.
4. Communication
Even though you don’t have employees or a team of people, it’s still essential to develop great communication skills. You may need to communicate with a virtual assistant to complete a project. You may need to communicate and negotiate with vendors. You will need ongoing communication with your prospects and clients. Not having good communication skills could cost your business clients, customers and money.
5. Coaching
The ability to coach others will serve you well whether you are working with a VA to complete a task or working with clients. Coaching lets the VA or client lead with the coach providing direction and guidance. It requires being a good listener, asking the right questions, providing support and accountability, A good coach will also have the ability to quickly assess each unique situation to provide the best guidance.
6. Relationship building
Part of becoming a self-directed leader is developing the right long-term relationships. Regular, ongoing communication is key to your relationship building efforts. Schedule time periodically to touch base. Keep a record of when you contacted someone and what was discussed. Learn everything you can about them. Be interested. Be curious. Don't spend all your time talking about yourself or selling. As you develop these relationships, you will build trust and authority in the marketplace.
7. Desire for ongoing learning and personal development
A commitment to lifelong learning and continued growth is a trait shared by every successful entrepreneur and business owner. They are always looking for ways to improve their skills. Lifelong learning is an ingrained part of their personality. But be careful with this one. Reading and attending seminars can sometimes be a form of procrastination.
Sometimes business owners get caught in the loop of attending seminars, webinars, reading, etc. when they have already learned what they need to know to grow their business. They just need to get to work and implement what they already know rather than reading or attending a seminar.
Even though it’s important to learn and work on your personal development, it’s more important to work on marketing, growing and scaling your business. So you have to strike a balance between personal development and building your business.
8. Self-awareness
Every self-directed leader must develop a sense of self-awareness. The ability to recognize your strengths, weaknesses, true personality and hidden biases is a valuable trait to have. Self-awareness reinforces your authenticity and ability to relate to others.
A key element of self-awareness is regularly taking time to reflect on your actions, decisions, and experiences which helps in understanding your behavior patterns and improving future responses.
Self-awareness leads to better decision making, better relationships, personal growth and enhanced emotional intelligence. Engaging in activities like regular exercise, meditation or yoga will help you gain more self-awareness by promoting mental clarity and helping you focus on the present moment.
In conclusion, it can be challenging going it alone in a business as a solopreneur. It is a path I have chosen for all the reasons mentioned at the beginning of this email. It is rewarding and has its advantages, but it’s not for everyone.
Some people prefer the social aspect of having a team. Others believe you must build a team if you want to build a big business. And that may be true for some businesses, but that is not the only way. There are multi-million-dollar businesses built and run by one person with no employees.
In today’s world, you can outsource what you need when you need it and sometimes produce the same (or better) results as a business with a team of people. It’s about all self-directed leadership.