How To Start Your Solo Business
Hi, I’m Larry Keltto. “How To Start Your Solo Business: The Insiders’ Resource Guide” is a collection of resources that I have curated for you, the aspiring or new solopreneur.
In my experience, these materials represent some of the best thinking and the finest advice on how to succeed as a solo-business owner. And I continually add to this list as I find new resources. The Guide covers 24 subject areas:
1. Is Solopreneurship For You?
2. Improve Your Decision-Making
3. Set Your Life Goals
4. What Kind of Business Will It Be?
5. Create a Business Plan
6. Decide on a Business Model
7. Build Your Brand
8. Register a Trademark
9. Structure
10. Legal/Contracts
11. Finance/Pricing/Cash Flow
12. Get Your Accounting/Taxes Under Control
13. Take Care of Yourself
14. Be Productive, Manage Your Time
15. Identify Your Niche
16. Define Your Target Market
17. Design Your Office
18. Consider Shared Space
19. Marketing
20. Your First Clients
21. Public Relations
22. Customer Relations
23. How to Collect
24. The Final Word
And finally, a special section: The Tools I Use.
I have organized the resources in the order I would approach the tasks. (The reality is that it’s very rare for solopreneurs to have the luxury of working in a perfect sequence. Plus, your background and experiences will determine what you tackle first, second, and so on.)
It’s easy to feel overwhelmed by the amount of information here. If you need help making sense of it all, consider my coachsulting services. The first session is free and there is no obligation.
Added on January 30, 2012, The UnCollege Manifesto. This is the philosophy behind UnCollege, a movement designed to help you hack your education.
Added on January 22, 2012: Shawn Driscoll’s “TQ Assessment.” (It’s a download that requires registration at Shawn’s site.) It takes about 10 minutes to complete the assessment, and the results provide insight into what your mix of products and services should look like — and why.
1. Is Solopreneurship For You?
Being a solopreneur is very difficult — the amount of work and the emotional investment are enormous. Do you really want to do this? The resources in this section will help you decide.
Articles
“How to Decide If Entrepreneurship is Right for You,” by Colleen DeBaise, author of “The Wall Street Journal Complete Small Business Guidebook”
Starting a business is a lot like becoming a parent. Not only do you have to prepare for your start-up emotionally and financially, but you have to be committed to its constant needs until it’s mature enough to hum along on its own. Here are five questions to ask before you start your own business.
“Thinking About Starting”
This article is at the U.S. Small Business Administration Web site, which has a vast amount of information and puts my little Web site to shame. 
The UnCollege Manifesto. This is the philosophy behind UnCollege, a movement designed to help you hack your education. And make no mistake, the solopreneur life is one of continuous learning.
Web Sites
U.S. Small Business Administration
WhiteHotTruth.com
Products
White Hot Truth, The Fire Starter Sessions, by Danielle LaPorte (aff. link)
2. Improve Your Decision-Making
Articles
Use This Method to Make Every Decision a Great Decision
What’s the most valuable skill a solopreneur can possess? I say great decision-making trumps everything. To improve the quality of your decisions, make it your practice to evaluate all decisions by using the eight perspectives below.
3. Set Your Life Goals
Article
A Simple Guide to Setting and Achieving Your Life Goals, by Leo Babauta
What Is the Definition of Success For You and Your Life? by Larry Keltto
Books
“Think and Grow Rich,” by Napoleon Hill
“Tribes,” by Seth Godin
“Escape From Cubicle Nation,” by Pamela Slim
Software Tools
Goalscape (aff. link)
4. What Kind of Business Will It Be?
Intro
You’ve decided to be a solopreneur. Congratulations! Now what? What is your business going to be?
I think Chris Guillebeau, author of “The Art of Non-Conformity” says it best: “What are you excited about that other people are willing to pay for? One way or another, you’ll need a clear answer to this question.”
And Johnny B. Truant expands on Chris’s thoughts. A good business:
* Creates assets that sell on their own
* Independent of the economic climate
* Location independent (can be operated from anywhere)
* Flexible hours, so the owner can decide when to put in the time
* High profit margins and regular cash flow
* The business founder owns the intellectual property
A bad business has the opposite traits.
Articles
“What’s Your Superpower?”
So what is your superpower? How will your superpower benefit other people? How will other people’s lives be changed because of your superpower?
“Mix and Match to Spark Ideas,” by Rob Place
Most people just conceive of the business by thinking of the most tried and tested idea. These businesses struggle right off the bat because they are imitating everyone else. Rather than just doing what everyone else does, start developing your business by thinking outside the box.
“Coaching vs. Consulting vs. Training vs. Freelancing: Which One Is Best For You?” by Rob Place
Client-focused solopreneurs have to come to terms with one fundamental question when they start their business: how will I deliver my service to the client? Will I coach, consult, train, or freelance? This post looks at the revenue model for each, how to market each, and tips on which one to specialize in.
“The Best and Worst Franchises to Own” The Small Business Administration ranks the franchises with the highest failure rates.
Products
White Hot Truth, The Fire Starter Sessions, by Danielle LaPorte (aff. link)
5. Create a Business Plan
Uggh. The business plan. You have to have one, but the truth is that it doesn’t have to be a lifeless document that you discard as soon as you’re done writing it. Don’t believe me? Check out the resources below.
Articles
“A Business Plan Named Emmit: Creative Plan Resources,” by Tori Deaux
“I, Neanderthal Business Plan,” by Rob Place
Many solopreneurs get stuck in the business-plan process and just abandon theirs. The biggest cause: they work through them in a purely linear way and don’t allow themselves to think of the complete whole at any one point except for the initial idea and if they get there, the final draft.
Books
“The Right-Brain Business Plan,” by Jennifer Lee
Products
Creating Your Business Map: Alignment For Your Inspired (Ad)Venture, by Nona Jordan
6. Decide on a Business Model
Articles
“Go Deep, Not Broad When Considering Your Business Model,” by Rob Place
Think of all the successful solos you know or know of. They started as specialists. They started their business with a narrow niche and over time, develop deeper and deeper knowledge until they are the overwhelming authority in the niche.
“Emmit Takes on Business Models (Part 1),” by Tori Deaux
A business plan is like a road-map and itinerary; it shows you where you’re going, when you plan to get there, a bit of the surrounding terrain, and gives you milestones by which you can track your progress. A business model is more akin to the vehicle that carries you on that road-trip – or at least, a blueprint for the vehicle.
7. Build Your Brand
Articles
“Six Solopreneur Branding Boo-Boos,” by Guy Kawasaki and Joe Moreno
Solopreneurs, those hardy warriors who are a company of one, must build a brand just like larger organizations if they want to go big time. However, they make some simple boo-boos—perhaps because they are working alone and too close to their business.
“To Solopreneurs Who Want to Improve Their Branding”
This is a simple exercise you can use to evaluate and improve the strength of your small business’s branding
Radio
“Dare to Make Your Brand Big,” branding expert Pamela Wilson on BlogTalkRadio
Web Sites
BigBrandSystem.com
The Brand Builder Blog
BePromotable.com
8. Register a Trademark
Articles
“An Introduction to Trademarks for the Uninitiated Solopreneur,” by Jeffrey Fabian
A protectable and recognizable trademark is one of the most important pieces of intellectual property that a new enterprise can invest in before bringing its products or services to market. This article provides a brief overview of the basic legal concerns and implications associated with adopting and seeking to register a new trademark.
Web Sites
United States Patent and Trademark Office
9. Structure
White Paper
“Why An LLC and Not An S-Corp,” by Mary Priolo
Articles
“Should Your Solo Become a Duet?”
At some point in your solopreneur life, you will confront the possibility of going into business with another person. I urge you to answer the questions in this article; it could be worth thousands of dollars to you and your prospective business partner.
Books
“Choosing the Right Legal Form of Business: The Complete Guide to Becoming a Sole Proprietor, Partnership, LLC, or Corporation,” by Pat Mitchell
10. Legal/Contracts
Articles
“Independent Contractor Agreements (and Why Solopreneurs Need to Use Them),” by Jeffrey Fabian
Within the solopreneur community, independent contractor relationships are a way of life. Solepreneurs hire other solopreneurs to develop their Web sites, write their advertising copy, develop their customer contracts, maintain their books, and carry out their SEO and PPC advertising campaigns. However, solopreneurs often overlook the importance of memorializing these relationships in writing.
11. Finance/Pricing/Cash Flow
Articles“8 Pricing Strategies You Can Implement Right Now”
Web Site
Nicole Fende’s Small Business Finance Forum
Books
“Small Business Cash Flow,” by Denise O’Berry
“The 1% Windfall: How Successful Companies Use Price to Profit and Grow,” by Raji Mohammed
12. Get Your Accounting/Taxes Under Control
Articles
“How to Find the Right Accountant for Your Solo Business”
“Accounting for Solopreneurs: What To Do and When,” by Deb Howard Greenfield
New and established solopreneurs share the same fundamental concern: What tasks do I need to perform and when? Here are some guidelines.
Software/Apps
Review of WorkingPoint, cloud-based accounting software
Web Sites
Greenleaf Accounting
13. Take Care of Yourself
Articles
“Ancient Parable Reveals a Secret for Solo-Business Success”
What would happen if you learned to wink at your self-perceived shortcomings, keep walking, and move forward to do your best work?
Books
“The Power of Full Engagement: Managing Energy, Not Time, Is the Key to High Performance and Personal Renewal,” by Jim Loehr and Tony Schwartz
Web Sites
Move Well, Be Fit, Have Fun
ZenHabits.net
14. Be Productive/Manage Your Time
Articles
“Live Your Solopreneur Life in Quadrant II”
Way back in 1994, Stephen Covey introduced his quadrant concept of time management. The concept appeared in chapter two of his book “First Things First,” and those 11 pages are among the most important ever published on the subject of time management.
“Should You Hire a Virtual Assistant?” by Deborah Reynolds
Virtual assistants can be a big help for solopreneurs, but how do you know if you should hire one? This Q&A will help you determine whether hiring a virtual assistant is the right move for your small business.
“The Secret to Solopreneurial Peak Performance”
When you’re putting together your calendar for the week or month, what do you schedule first? Personal performance expert Dr. Shannon Reece, offers a surprising answer to the question of what must always come first for solopreneurs.
“Are You Sabotaging Your Creative Energy?” by Jen Waak
As a solopreneur, a three-hour workday is a total joke. Our workdays are more like 13 hours, not three. You should structure your day to fit how your brain works.
“How Do You Handle Vacation?”
Vacation can be very perplexing for solopreneurs. There are dozens of questions related to vacation. How to decide?
Web Site
Productivity expert Claudine Motto’s VistalNorte.com
Products
Evernote (aff. link)
Shoeboxed.com (aff. link)
15. Identify Your Niche
Article
“The Difference Between Target Market and Niche,” by Michael Port
Your target market is the group of people you serve. Your niche is the service you specialize in offering to your target market.
16. Define Your Target Market
Articles
“How to Define Your Target Market,” by Mandy Porta
To build a solid foundation for your business, you must first identify your typical customer and tailor your marketing pitch accordingly.
“How to Paint a Picture of Your Perfect Client”
17. Design Your Office
Articles
HGTV Directory of Home Offices
18. Consider Shared Space
Articles
“Which Type of Shared Space Works Best For Your Business?”
Available options on shared spaces for lease are growing at a fast pace. Here is a summary of the most common shared office-space environments.
19. Marketing
If you’re like most new solopreneurs, you will be shocked by how much time you need to spend on marketing, so the sooner you embrace marketing, the better off your business will be.
Market Research
Articles
“The Marketing Secret That Will Keep You In Business”
Laddering is a market-research technique used in consumer marketing that seeks to explain why people buy and use products and services. Small-business owners, you too can utilize laddering to create successful new products, services, and marketing campaigns that tap into your customers’ emotional desires.
Software Tools
SurveyMonkey.com
Relationships
Books
“Relationship Marketing for Solopreneurs,” by Jim Sheard, Ph.D., and Larry Keltto
Search/SEO
Report
“The Beginners Guide to SEO”
Web Sites
SEOMoz.org
HubSpot.com
Books
“Ultimate Guide to Google AdWords, 2nd Edition,” by Perry Marshall and Bryan Todd
Products
Scribe (aff. link)
Copywriting
Articles
“Solopreneur’s Checklist: How To Write Ineffective Advertising Copy”
If you use this checklist, you will scare away potential customers and eventually drive your small business off a cliff. Guaranteed!
Go Beyond Features and Benefits
Books
“The Copywriter’s Handbook, Third Edition: A Step-By-Step Guide to Writing Copy That Sells,” by Robert W. Bly
Web Sites
Copywriter Amy Harrison’s Web site
Web Sites
Articles
“How to Create a Great Web Site,” by Seth Godin
22 Great Tools To Use When Building Your Web Site
“When the Money Isn’t In the List: The Case Against Freebies,” by Susan Daffron
Almost everything you read about marketing online says you should give away a freebie in exchange for someone’s email address. The idea is that you build up a list and then you can market your products and services to the list. It sounds like a great idea. Except for me, it didn’t work.
Radio
“How to Work With a Web Designer,” Web site designer Naomi Niles on BlogTalkRadio
Blogging
Articles
WordPress.org’s Introduction to Blogging
Books
“ProBlogger: Secrets for Blogging Your Way to a Six-Figure Income”
Web Sites
ProBlogger.net
Copyblogger.com
ChrisG.com: The Business of Blogging and New Media
Social Media
Articles
“7 Steps For a Successful Social Media Strategy,” by Nick Shin
How to Create Measurable Objectives,” by Amber Naslund
Part of the problem folks face with social media measurement and determining ROI is that they don’t know how to create measurable objectives in the first place. So let’s do a (bit of a long) drilldown of what measurable objectives look like, and all the parts around them.
Twitter Marketing Guide, by Kristi Hines
Here’s a guide to help you setup your Twitter profile and implement a successful Twitter marketing strategy.
Facebook Marketing: Ultimate Guide, by Tim Soulo
Here’s a step-by-step strategy for promoting your business on Facebook.
Web Sites
SocialExaminer.com
ChrisBrogan.com
Social Media Today
SocialMouths.com
Book
LinkedWorking: Generating Success on LinkedIn … the World’s Largest Professional Networking Website, by Frank Agin and Lewis Howes
Offline Marketing
Articles“Put the ‘Buy Local’ Movement to Work for Your Business”
Begin your own local push to build your name in and around your hometown. Here are six ways to get started.
“A Marketing Dinosaur That’s Not Yet Extinct”
In the right situations, print newsletters can be a valuable marketing tool for solo business owners.
Radio
“Offline and Local Marketing: 18 Ways to Get Started in Your Hometown,” Larry Keltto on BlogTalkRadio
20. Your First Clients
Articles
The Extremely Profitable Work That New Solopreneurs Overlook
Recurring income is an important concept to understand, and it’s the foundation for most successful solo businesses.
“The Marketing Gambit That Saved the Rolling Stones–and Can Work For You, Too”
21. Public Relations
Radio
“How to Pitch a Reporter”
Michelle Damico of Michelle Damico Communications explains how it’s done.
Web Sites
PR In Your Pajamas
22. Customer Relations
Articles
“5 Ways to Build Amazing Client Karma (And Boost Your Business),” by Samuel Ryan
Your success in both the present and the future is directly tied to the amount of love and loyalty you get from your clients. So learn to treat these relationships with care.
The #1 Cause of Unhealthy Business Relationships
The leading cause of unhealthy business relationships for solopreneurs: bad choices in selecting clients. Yes, I said “selecting.”
Radio
“How to Make Customers Love You,” LaVonne Ellis explains on BlogTalkRadio
Software/Apps
Review of Highrise, cloud-based client management software
Scheduling, comparison of scheduling apps
23. How to Collect
Articles
“11 Collections Tips From a Solopreneur Who Gets Paid 99.92 Percent of the Time”
I have been a solopreneur for 17 years. So far I have sent 1,236 invoices. I have collected on every invoice, except one. This is what has worked for me.
Products
“The Collections Packet from The Solopreneur Life”
“The Collections Packet” includes the contract language and collections letters that Larry Keltto developed and used in compiling my 99.92 percent collections rate.
24. The Final Word
Articles
“You Know You’re a Solopreneur When…”
The Tools I Use
This is the stuff I use day-in, day-out to run my business.
Hardware
• iPhone
• MacBook, with a second screen
Software
For my Web Sites
• Bluehost.com (aff. link) for hosting of my Web sites
• The WordPress platform. At this point I have no desire to use anything other than WordPress. I know it well, and developers continue to create a lot of products for it.
• MailChimp.com, email marketing and list management. AWeber.com is highly regarded, too, for the same functions.
• BookingBug.com, scheduling
• Premise (aff. link) for the building of landing pages (sometimes called sales pages)
• ThemeForest.com (aff. link) for finding a Web site theme (template).
• Headway, WordPress theme (aff. link)
• Clicky Web Analytics (aff. link)
• Gravity Forms, (aff. link) a WordPress plugin that makes it easy to add forms to any page or any post
• Feedburner for the RSS feed
• Google AdSense for the display ads, and
• Amazon Affiliates for Amazon store
• SEOMoz.org, (aff. link) for search-engine optimization
Time Management/Productivity
• Things, is a simple little task-management program
• Evernote (aff. link)
• reQall, a free, simple, cloud-based, to-do-list app
Design
• Photoshop and InDesign
Invoicing
• FreshBooks (aff. link)
Accounting
• WorkingPoint
Other
• Commun.it, relationship-management tool for Twitter
• Goalscape, (aff. link) a visual goal-management software
• Highrise, client and project management
• Password Wallet,
password storage and security
• SoundCloud.com a tool for publishing audio online
• Voices.com, professional voice talent
