{"id":112253,"date":"2023-08-29T18:03:00","date_gmt":"2023-08-29T22:03:00","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=112253"},"modified":"2023-09-05T11:04:08","modified_gmt":"2023-09-05T15:04:08","slug":"how-to-start-a-one-person-company","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/how-to-start-a-one-person-company\/","title":{"rendered":"How to Start a One-Person Company: 3 Steps for Solopreneurs"},"content":{"rendered":"\n

Do you have a great idea for a business? Are you ready to get started except for that bit about knowing how to start?<\/p>\n\n\n\n

According to business consultant Paul Jarvis, starting and building a one-person company<\/a> entails three steps. He says that you must build your skill set so that you\u2019re prepared to run your own business, set up a strong financial and legal foundation, and develop strong customer relationships.<\/p>\n\n\n\n

Continue reading for details on how to start a one-person company.<\/p>\n\n\n\n\n\n\n\n

Step #1: Build Your Skill Set<\/h2>\n\n\n\n

Jarvis’s advice on how to start a one-person company begins with a step you should take before you set up a legal entity: building your skill set. To be successfully independent, you have to be good enough<\/em> to stand on your own. You can achieve this in a variety of ways, including working for a while at an existing company to gain experience, taking classes, or practicing skills on your own.<\/p>\n\n\n\n

First, hone your knowledge and skill in the work that forms the core of what you want your one-person company to be. For example, consider the example of the business that offers online cooking classes\u2014before you open such a company, you should learn from other chefs, practice your teaching skills as an instructor at an existing cooking school, and so on. This will give you credibility as an expert in your field and ensure that you can offer a quality product or service.<\/p>\n\n\n\n

Second, acquire a broad understanding of administrative and practical business skills. As the owner of a one-person company, you\u2019re responsible for every aspect of the business, so you need to have a working knowledge of many types of work outside of your core work. These include marketing, accounting, payroll, sales, project management, and more.<\/p>\n\n\n\n

Different Paths for Skill-Building<\/strong>

If you choose to build your skills as an employee at an existing company, seek out chances to explore types of work that push you outside of your comfort zone.<\/a> Instead of going for upward movement in one department, consider making lateral moves to related departments. This will help you expand your skill set and your knowledge of related fields. For example, if you normally work in marketing, you might take a job in customer service to learn about working with customers directly. Knowing more about different types of work in your field and how they interact will help you fill multiple roles in your business later on.

In addition, you could expand your skill set in your core work or in general business knowledge on your own by taking advantage of countless online resources. Coursera<\/a> offers low-cost certificate courses from accredited universities that cover business topics like marketing<\/a>, sales<\/a>, accounting<\/a>, and project management<\/a>. LinkedIn Learning<\/a> and Skillshare<\/a> also offer courses that help with professional development along with more specific skills you could turn into a business, such as writing, graphic design, web design, and illustration.

Finally, reading regularly can help you improve your abilities in your core work and peripheral work. Research suggests that reading of all kinds improves communication skills, writing skills, critical thinking, and creativity<\/a>\u2014all necessary for the owner of a one-person company. Additionally, reading books written about your line of work can help you stay on top of new developments in your field.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n