Modern Australian
Men's Weekly

.

Most useful tips for running a one-person startup

  • Written by Diana Smith


Being a one-person startup is a good idea for several reasons. First, the overhead is incredibly low, which means that your break-even point is near. This reduces the risk of failure, as well as the potential damage caused by this failure. Other than making your job easier, it also puts you under a lot less stress, which is a huge benefit on its own. The second advantage of this is the fact that it makes running a business much easier infrastructure-wise. The biggest problem with running a one-person startup lies in the fact that the majority of people see it as a stage, a temporary solution, when, in fact, it can be a fully-functional business model. Here are several tips to make it so.

1.Validate your idea

The biggest problem with being on your own is the fact that you’ll have no one to tell you when you’re in the wrong. This means that you might keep doing things inefficiently or moving your company in the wrong direction for quite a while until the results show you that what you’re doing is bad. In order to prevent this, you should validate your own business idea. First, do market research and try checking if the niche that you’re trying to enter is segmented or dominated by a couple of dominant enterprises. Second, you need to ask for an outsider’s opinion in order to get some new insight.

2.You don’t have to have a team for fundraising

Even those who believe that they can run a successful business on their own have some concerns when it comes to the issue of fundraising. Namely, a one-person startup is a fairly common business model but are investors like venture capitalists really willing to invest in one-person teams. Surveys say that they indeed are. Due to the fact that the average size of a starting team is at about 1.72, it’s more than clear that this business model isn’t nearly as rare as you might think. Once you get the money, it’s irrelevant how big of a team you have, as long as you can deliver on what was promised.

3.Full control

Being self-reliant is a great advantage in the business world and although you’ll be forced to work with a tad smaller capacity, you will be in full control of your business. Due to the fact that you’re your own workforce, you’ll have a much easier job to make an estimate of your capacity and the quality of the end product/service will be completely in your hands. This means that it will be a lot easier for you to offer guarantees to your clients and make adjustments that are necessary for all of this to function as it should.

Advertisement



4.Your potential for growth is unlimited

One more misconception is an idea that the potential of your business is limited by the fact that you’re a one-person startup. Now, when you take into consideration the fact that Amazon and eBay both started as one-person startups, it becomes more than clear that the potential is unlimited. Sure, some may see this as something in contrast with the topic of this post but bear in mind that chances of achieving this level of success aren’t that probable. Also, once you make a business model that works with one person in charge, adding other people to the mix will only change the scale.

5.Create passive streams of income

The next thing you need to understand is the fact that as the sole employee behind a business, you need to make sure you use your assets in a way that will allow it to earn you some revenue. This means creating alternative sources of income by making smart investments. Still, not all of your investments need to be in money-making venues. Sometimes, you need to differentiate your income so that your asses are, at least partially, safe. One of the ways to do so is by buying precious metal like platinum. Commodities are, in general, much safer than stocks, even if they stand to make you less money in the short term.

6.Make an adequate work environment

When you’re a one-person startup, your own productivity is the productivity of your entire organization. This is why you need to make an adequate work environment and stimulate yourself to become much more productive. The best idea would be to construct a home-office but if you find this to be too expensive or you need to work in a collective (while still remaining a one-person business), you can always look for shared office space. In the long-run, this could help an aspiring entrepreneur develop an incredibly efficient work routine.

7.Temporary outside help

Just because you’re running a one-person startup, this doesn’t mean that you should do it all on your own. The fact that you’re alone is exactly the reason why you need to have an incredible network of contacts. Outsourcing is always an option, but you need to know who it is safe to outsource to. If you’re running a blog (which you definitely should), you’ll need some reliable content creators and guest bloggers in your contacts. If you need some help, for a while, it’s better to hire freelancers to help you out on this project than to, unnecessarily, expand your retainer.

8.Branded online presence

The very last thing you need to bear in mind is the fact that it might be easy to assume that just because you’re a one-person startup, your personal social media presence is enough. Your brand needs to live the life of its own, which is why you need a website, a blog and social media profiles that you’ll use professionally. Sure, marketing yourself as an individual (especially on LinkedIn) could benefit your business and your brand as a whole, yet, a branded online presence is a most definite must.

It might even be worth your while to try and distance yourself from your brand by using a different tone when addressing your audience personally and professionally. Even though you are a one-person army, this doesn’t exactly have to be public knowledge.

The very last thing you should focus on when running a one-person startup is your long-term goals. This is where you need to be completely honest about your intentions with this enterprise – do you really want to remain a one-person startup or are your long-term goals different? Only you can have an answer to this question.


Business

Powering Shepparton’s Businesses: Expert Commercial Electrical Services You Can Count On

When it comes to running a successful business, having reliable, compliant, and efficient electrical systems is non-negotiable. From small retail outlets to large-scale industrial operations, every commercial facility depends on...

The Smart Way to Grow Online: SEO Management Sydney Businesses Can Rely On

If you’re a Sydney-based business owner, you already know the digital space is crowded. But with the right strategy, you don’t need to shout the loudest — you just need...

Building a Governance Model for Headless Content Management at Scale

Image by pch.vector on Freepik There's never been a better time to implement a headless content management system (CMS) to gain the flexibility and scalability necessary for developing digital experiences...

Understanding Trade Insurance: Essential Protection for Businesses

Image by Drazen Zigic on Freepik In the current economic environment, trade insurance is an important element for companies trading both locally and internationally. This is a type of insurance that reduces...

Navigating the Digital Landscape: Managed IT Solutions and IT Services in Townsville

As technology advances at an unprecedented pace, companies must adapt to embrace the transformation ahead. With an evolving technology landscape, managing technology effectively is a strategic priority for every North...

Maximising Operational Efficiency: Electric Winch Hire Australia and Hydraulic Power Pack Hire Solutions

Image by jcomp on Freepik From urban construction sites and remote mining operations to coastal maritime facilities, specialised equipment solutions are integral across Australia's varying industrial landscape to deliver project success...

How To Keep Vase Flowers Fresh Through Australia’s Coldest Months

Winter flowers develop slowly, which gives them stronger structure and longer vase life Heat from indoor environments is the biggest threat to th...

Artificial Intelligence is Powering the Growth of Australian Telehealth Services

Many Australians have traditionally experienced difficulties in accessing timely and quality healthcare, especially those who live in rural or remot...

Powering Shepparton’s Businesses: Expert Commercial Electrical Services You Can Count On

When it comes to running a successful business, having reliable, compliant, and efficient electrical systems is non-negotiable. From small retail ou...

Maximise Efficiency: Cleaner Solar Panels for Optimal Performance

Solar panels are a smart investment in energy efficiency, sustainability, and long-term savings—especially here in Cairns, where the tropical sun ...

7 Common Air Conditioner Issues in Melbourne – And How to Fix Them

Image by freepik Living in Melbourne, we all know how unpredictable the weather can be. One moment it’s cold and windy, the next it’s a scorchin...

Powering Palm QLD with Reliable Electrical Solutions

Image by pvproductions on Freepik When it comes to finding a trustworthy electrician Palm QLD locals can count on, the team at East Coast Sparkies s...

The Smart Way to Grow Online: SEO Management Sydney Businesses Can Rely On

If you’re a Sydney-based business owner, you already know the digital space is crowded. But with the right strategy, you don’t need to shout the...

What Your Car Says About You: The Personality Behind the Vehicle

You can tell a lot about someone by the car they drive—or at least, that’s what people think. True Blue Mobile Mechanics reckon the car says a l...

The Confidence Curve: Why Boudoir Photography Is the Empowerment Trend You Didn’t Know You Needed

Boudoir photography has been quietly taking over social feeds, Pinterest boards, and personal milestones—and for good reason. It’s not just abou...

Understanding Level 2 Electricians: Why Sydney Residents Need Licenced Experts for Complex Electrical Work

When it comes to electrical work around the home or business, not all electricians are created equal. In Sydney, particularly when you're dealing wi...

Retirement Anchored in Model Boat Building for Waterford’s Doug Unsold

WATERFORD — When Doug Unsold sees his ship come in, it’s usually one he’s crafted with his own hands. The 67-year-old retiree from Waterford ...

The Science Behind Alarm Clocks and Your Circadian Rhythm

Waking up on time isn’t just about setting an alarm—it’s about working with your body, not against it. At the heart of every restful night and...

How to Use Plants to Create a Calming Atmosphere in Your Home

In today’s fast-paced world, cultivating a calm, soothing environment at home has never been more important. Whether you live in a busy urban apar...

How Maths Tutoring Can Help Students Master Maths

Mathematics can be a daunting subject for many students, often causing stress and frustration. However, maths tutoring has proven to be an effective...

Refurbished iPads Are Better Than New Ones (Here's Why)

Image by rawpixel.com on Freepik Apple's refurbished iPad program has quietly become one of the best deals in tech. While everyone obsesses over the ...

Your Guide to Finding the Right GP: What Perth City Doctors Offer Today

Choosing a General Practitioner (GP) is one of the most important health decisions you’ll make. Luckily, Perth’s vibrant CBD now hosts a new ge...

Why Every Mining Operation Needs a Robust Safety Management System

Mining is one of the backbones of the Australian economy, particularly in Western Australia. Back in 2019-20, mining contributed 10.4% of Australiaâ...

Australian Classic Literature Enjoys Resurgence

Welcome back to the good old days of storytelling! As the modern world becomes increasingly more demanding, returning to childhood favourites offers...