Challenges of being a one-man show

one man show


A few statistics about SMBs

Small and medium size businesses are often led by a very small team, if not by a single person. As of December 2011, according to Industry Canada, there are over 2.4 million businesses in Canada. For 54.9% of those businesses, there are only one to four employees and the percentage goes up to 75% for businesses with less than 10 employees. This means there are a lot of one-man bands out there.


The challenges of working alone

What are the challenges of working alone? We can feel incompetent, overwhelmed and broke. From writing my business plan to pricing my goods, marketing, social media, accounting, selling, promoting… can I handle it all by myself? Do I have the time and the skills to do it? Do I have enough money in the bank for my business and my family? Doubt can strike and slow you down. Take a deep breath, we’re all in the same boat.


Three tips to keep your head out of the water

1.  Get organized

Read this and try that. I think it covers a lot of ground.

2.  Get some help

First, don’t be afraid to get the cheque book out for what you absolutely can’t do by yourself. No way I’m dealing with accounting and I’m happy to pay the big bucks to make sure my numbers are kept straight by my accountant. Secondly, find other entrepreneurs in your situation. Join the monthly breakfast club at your chamber of commerce or find a mentor. Have a look at Startup Canada and CYBF for resources.

3.  Get some books

It’s food for your soul and for your business. We all need to learn. One more reading suggestion I forgot about in last week’s list is The Personal MBA by Josh Kaufman. Read it and then read all his suggestions. You should be good for a decade or two.


What is the risk of being an overwhelmed one-man show? You’re putting your mental health at risk. Let’s keep that cheerful subject for next week.