The Five-Point Checklist for Successful Solopreneurs in 2017

Although the current economic climate favors solopreneurs, the fact remains that there are still many moving pieces of a truly successful company in 2017. Inevitably, something gets lost in the shuffle as we try to juggle the expectations of current clients whilst also trying to expand our businesses into unexplored territory.

Whether you're been thinking about starting your own business or want to take your current venture to the next level, use the following checklist as solid starting point to make sure your company has nowhere to go but up this year.

1. Understand Your Legal Options

When we get started with growing our empires, especially online, we're often laser-focused on making money and drawing a profit. However, that doesn't mean that you can afford to ignore the legal aspects of running a business.

Are you in a position to protect yourself if a client or customer took legal action against you? Is your business set up in such a way that makes sense from a tax perspective? Now may very well be the best time to transition your business into an LLC, for example, to keep yourself safe from a potential legal snafu down the road.

Even if your legal dealings have been smooth sailing so far, you don't want to wind up in a nightmare situation where your business is stuck in limbo.

2. Upgrade Your Equipment

Whether you mostly work from home or hit up local coffee shops and co-working spaces, make it a priority to into your business as means of getting more done. This could mean a new laptop or video recording equipment to help supercharge your marketing potential. Regardless of what you do, strive to purchase one upgrade at a time to avoid blowing out your budget.

3. Put More Money Away

Tax season always represents a good reminder for solopreneurs to put money away. Even if you already have a bit of a nest egg, it never hurts to start saving more for the sake of retirement or the luxury of going on a weekend getaway. Again, solopreneurs should expect the unexpected.

4. Conduct Some Serious Competitive Analysis

Don't let your business or its marketing tactics grow stagnant. Make an effort to spend some time looking at what your colleagues and competitors are doing within the next few months to set yourself apart from the pack. While there's no need to obsess over the actions of others, don't let yourself become an island.

5. Step Up Your Social Game

Likewise, it's time for you to start working smarter, not harder in terms of social media. Conventional wisdom tells us that it's more prudent for modern businesses to spend their time focusing on one or two social platforms versus spreading themselves too thin with dozens of them.

For most solopreneurs, Facebook and LinkedIn can be a potential goldmine of new clients and other opportunities. Spend your time wisely and strive to use social platforms as a networking tool (think: not a time-wasting tool).

Being a solopreneur is incredibly rewarding but perhaps equally stressful. Instead of getting overwhelmed, consider this checklist as your top priorities as you look to grow your business this year.

Author:.

Carmelo is a marketing writer and blogger helping small and medium size businesses craft winning content strategies. She's always scouting the web for new social media strategies and is slightly addicted to apps. When not tapping the keyboard, you are likely to find her in the park playing with her uncontrollably friendly Irish setter or trying out new vegan recipes.

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