8 Ways To Remain Relevant As A Solopreneur
/Solopreneurs can face a lot of competition, both from other small businesses and from larger companies that provide similar products or services. Staying relevant in your field is essential if you want to find success and continue to earn a living. Things can change quickly, especially in some industries where everything is fast-paced. Keeping up can be a challenge when you're the only one running your business but it is possible.
Here are steps to take to remain relevant in your industry.
Keep an Eye on Your Competition
It's always wise to know what your competitors are doing. If others in your industry are doing something different and their customers are responding to it, it could be something that you need to consider too. Your competitors could be other entrepreneurs you talk about business with or you observe from a distance.
In addition to paying attention to other small business owners, it's worth watching larger businesses to see if they're doing anything you can emulate. It will also help you to work out how to differentiate your business.
Stay Abreast of Industry News
Keeping up with the latest news in your industry will definitely help you to keep your business relevant. When you understand what's going on, what changes might be ahead, and what the future looks like, you can make the best decisions for your business.
You might want to find some useful industry blogs or news websites that you can subscribe to. Or you can set up a Google Alert, which will let you know when news stories and articles related to your chosen terms are published.
Update Your Training
Growing your skills will mean that you keep your knowledge up to date. It could include learning to use new skills or techniques or keeping up with new compliance rules. You could look into specialized training for the clients that you work with. If you've started working with clients in a particular industry, there could be good reasons to get to know the industry better and the best ways to apply your skills.
Accountants can learn more about how online CPE courses can help them expand their knowledge about specific industries, such as oil and gas. Marketers might want to learn about creating content for certain industries and audiences.
Check Your Rates
As things change in certain industries, prices can change too. One of the things you should do if you want to keep your business relevant is to check your rates now and then to compare them against others. It's not always easy to do because not everyone publishes their rates publicly. But you can often find useful resources like industry surveys that will help you to check if you're charging the right prices.
You might consider putting your rates up or down if there has been a significant change in how much your competitors and peers are charging.
Know Your Clients
Getting to know your clients is essential when you start your business. But you shouldn't merely do it once and then assume you know your audience. It's also important to stay up to date with any changes in what people want and expect, what their budget is likely to be, what skills and knowledge they expect you to have, and other relevant information. You need to know your clients so you can market to them in the most effective way.
Get Help
It can be difficult to keep your business up to date if you're trying to do everything on your own. By getting help from others, you can ensure your business stays relevant and you're able to give your customers what they want.
You might choose to outsource some tasks so you can focus on your core business practices and growth. Consider outsourcing admin tasks or other functions not core to your skillset. You can also get mentorship and advice from other people in business who can coach you on how to keep growing and improving.
Look for New Opportunities
It always pays to be on the lookout for new business opportunities that you can take advantage of. There are always opportunities that could be right for you, even if they don't seem like a good fit at first. A new opportunity could take many forms too, whether it's changing the way that you communicate with your customers, working with a new supplier, or taking on a job that's outside of your usual scope of work. When you keep your mind open, you could come across opportunities to further your business in multiple ways.
Network
Networking with others can help to keep your business visible. It also gives you opportunities to learn new things, stay up to date with industry news and events, and connect with useful people in business. There are ways you can network with others both online and offline.
Look for your local business groups to see if you can join their events and meetups. There are a number of groups for startups and solopreneurs who are looking for connections. Connecting online can be easy and might be useful if you can't find any local business groups. You can connect with other business people online, including social platforms like LinkedIn, Facebook, and Twitter, or websites for business networks and groups.
If you're a solopreneur, you can stay relevant in your field if you work at it. It's important to make sure you don't get left behind and keep your business up to date.
