Solopreneur, freelancer, self-employed — should I stay or should I grow? (with Jodi Hersh)

IRC WealthCast

There are so many options when it comes to growing a business as a solopreneur that, regardless of whether you call yourself a solopreneur, freelancer, or self-employed, determining how to plan for growth can be challenging. In this episode, Joe chats with longtime solopreneur Jodi Hersh about the choices and considerations when you’re a company of one and want to expand. Questions to ask yourself include: Do I want to eventually sell my business? Do I want employees? Do I take OPM (other people’s money)? What does growth really mean to me? What will life be like a year from now if I make this move to grow? Why do I want to grow? Also discussed are the benefits of working with a career coach, like-minded peers, and/or an advisory board. At the end of the day, no one really cares what’s on your PowerPoint. It’s you that they are betting on when considering funding you, working with you, and buying and selling with you and for you. There are all kinds of ways to grow; gaining revenue is not the only way to keep score. And it’s not just about trading time for money. Most people go into business for themselves because they want a different environment so it’s important to remain true to what you want. Leaving a crowded, groupthink, corporate-esque, work environment and career to be your own boss may be why you’re here in the first place. Now you might find yourself encroaching on your authentic self by growing into something you desperately worked to avoid. This is one reason why, when you seek advice, it’s important to tap into other like-minds who understand your language. And don’t lose sight of how growth relates to your fulfillment. There is no wrong answer unless it’s one that doesn’t honor your values and your quest for a fulfilled business and personal life.