Some thoughts of my own

 I was only talking about this yesterday with my good friend Shaima Al Jabry (Executive Coach) and on line with CHIDIOGO NDUBUISI AKPODIETE
Changing from a Solopreneur to an Entrepreneur is n ot an easy leap of faith.
Especially if you have been self reliant and know your product/service inside out.
Trusting others is tough but necessary.
So do your due diligence, select that 2nd person with care and ensure their behaviours, aptitudes and core traits are a good match with you and the company ethos. Put the basics in place before you bring them on and be clear about boundaries. You don’t have to have a full set of SOP’s or JD’s, KPI’s OKR’; but you do need to let them know what is expected of them so a job summary is a great help
If you want to manage performance you need to be able to measure it and this requires a framework and yes it does add value.
You may choose to use a benchmark and this is where PRISM adds huge value.

But before you even change from solo to entrepreneur maybe check out the ENETREPRENUR benchmark and see if this is the journey you want to embark on.
Whether you go the land based or freezone route again do your due diligence and make sure you not only know how much it costs to open the company, but maintaining it and then closing it! Keep your books or get someone else to do so it makes a huge difference especially if you are not into finishing!
Working for yourself is challenging but everyday is different and that my readers is why we do it.

Source: Forbes
https://search.app/iL228

Author Post: Taking The Leap: From Solopreneur To Entrepreneur

Kate Morgan • September 24 at 04:00

There’s a vast difference between being an independent operator and being responsible for employees and, indirectly, their families. If you have been a “solopreneur” and are planning to make the entrepreneurial leap, or you’ve already made the leap, this is essential to recognize.

Being an entrepreneur requires you to be fearless to a certain degree. It takes courage and an innate desire to take the risk to create something from nothing and convince people to follow you. There is nothing as equally invigorating and as nerve-racking as starting a business, then adding sentient beings to the mix (i.e., your employees), that you have to manage.

Transitioning from “I” to “we” isn’t just about paperwork and payroll—it’s about fundamentally changing how you think about and run your business.

First, you’re going to need to make a significant mindset shift around fear, perfectionism, and control. Sure, you’ve already proven you’ve got the guts to leave the corporate world behind for the promise of independence and better control over your life. But what about when it comes to hiring, managing, and sometimes firing people? That’s a whole different ball game.

Only two out of ten small business owners make the leap to true entrepreneurship by hiring employees. Why? It means letting go of the security blanket of doing everything yourself and trusting others to do what you’ve hired them to do. The biggest reason I see people struggle with jumping the chasm boils down to fears that the people they’ve hired won’t be as good as they are.

It comes back to perfectionism and the need for control, which are inextricably intertwined. They both stem from our fear of letting go and then failing. You’ll need to be prepared to embrace the fact that you won’t be perfect when you launch your venture, particularly as a bootstrapped founder. Your employees won’t be perfect, but you have to let go of your need to control and let them grow. The more you allow them to grow on their own, the more you as a company can grow.

Moving from being an independent contractor to an employer is an emotionally complex journey. So, before taking this significant step, stop and ask yourself:

• Can you allow your employees to learn and grow so they can work toward delivering the quality of work your clients expect, and are you ready to trust them to do so?
• Do you have the mindset and skills to be an effective leader rather than just a talented individual contributor?
• Are you prepared to step back from hands-on client work to focus on strategic business growth?
• Are you ready to find satisfaction in your team’s successes rather than your own tactical wins?
• Can you let go of the tasty dose of dopamine that comes from directly serving your clients and solving their problems?

Shifting from solopreneur to entrepreneur is not easy, but the rewards are tremendous. You will experience the thrill of the build and all the impact you’ll have on those you employ and the customers and clients you serve. And as you stretch outside of your comfort zone, you will grow personally and professionally.

Making the leap from solopreneur to CEO can feel overwhelming, but I’ve found that putting your ideas on paper helps crystallize your vision and helps manage all the emotions that come with the human side of your business.