Going Solo? Be a Sponge

by Guest Blogger

In a world where working for yourself is slowly but surely becoming more popular, entrepreneurs have to be just as business savvy–if not more–than the bosses and companies they hated working for. But from where does this savvy-ness spring? Business school? Decades of experience? Perhaps, but the enterprising young bloggers at Pounding the Pavement would like to suggest that the internet affords the opportunity to learn from others’ mistakes on an unprecedented scale.

For starters, we recommend checking out the accumulated wisdom represented by the resources in this post. You might be surprised to find insights from likeminded solo entrepreneurs, principles that will help you to strengthen your current enterprise, or renewed motivation to take the next step toward being your own boss.

Soak up a Mastery of Marketing

Whether you’re peddling goods, services, or ideas, efficient marketing makes a big difference on your bottom line. Be sure to market your product or business in a manner that is captivating, vibrant, and likely to draw attention. And if you’re not acquiring new customers or retaining previous ones at the rate you’d like to be, check out these tips from industry leaders.

Mike Michalowicz offers this straightforward list of 115 marketing strategies for small businesses.
Laura Lake offers a primer in marketing basics for the small business beginner.
Murray Raphel, a marketing expert with CBS’s interactive business network offers practical advice and ” 10 Advertising Techniques that Work.”

There’s a wealth of information about consumer behavior online. Make sure you’re conversant with the jargon, aware of the trends, and ready to master your corner of the market.

Soak up Financial Know-How

Has anyone ever told you “you have to spend money to make money”? Well, before you bet the farm, take out loans, or dip into your kids’ college fund, make sure you’ve done your homework so you can maximize your initial profitability and minimize the upfront costs associated with opening or maintaining a small business.

Check out this article from NuWire Investor for advice on how to maximize your business’s budget through niche marketing and consistent branding.
As any business owner knows, taxes can be a huge (and potentially unexpected) headache. Inc.com helpfully explains tax strategies and the importance of tax planning. Don’t miss their tax-friendly suggestions on ways to run your business and minimize your business’s tax bill.
Finally, Moya Mason offers a research-based response to the question What Causes Small Businesses to Fail? Make sure to check out her list of common activities that cause small businesses to fail so you can avoid a mistake that might be lethal for your solo venture.

Hopefully this sampling has already introduced you to some helpful sites and concepts. As you move forward toward your entrepreneurial goals, don’t forget about the wealth of knowledge freely available to you online. And if you ever begin to feel like you’re entering uncharted territory, remember, someone else probably already has the map.

About the Author:
Brittany Johnson is a guest blogger for Pounding the Pavement, an up-and-coming outlet for career-oriented expression. An ambitious freelancer, Ms. Johnson also contributes articles about earning your high school diploma at home for Guide to Career Education.