Considering running a CFO advisory service as a solopreneur?
If so, you are in the right place!
Maybe you’re thinking about it because there’s no feeling in the world that beats being your own boss.
Maybe it’s because you’ll finally be free from a corporate job you despise with every fabric of your being.
It could be because you relish choosing which clients to work with and which ones to say goodbye to.
Perhaps it’s because you’d love working wherever your heart desires instead of being confined to a claustrophobia-inducing cubicle. These days, technology keeps us so well-connected that you can set up an office anywhere on the planet that strikes your fancy.
This means no more long commutes, which are typically accompanied by high-stress levels.
Furthermore, there’s tremendous psychological gratification in fulfilling one of the most significant needs of business owners: helping them achieve their long-held dreams. However, like most other solo operators, you could probably benefit from some advice to make your entrepreneurial journey smoother.
If that’s the case, here it is:
Table of Contents
Toggle1. Cultivate a Positive Mindset
Cultivating a positive mindset means instead of feeling horrible when you make a mistake, you mentally reframe what happened.
That way, it’s a lesson to be learned rather than a terrible tragedy you’ll never recover from.
Consider alternative interpretations of situations that didn't turn out the way you’d like. Things happen all the time that are outside of your control.
One way to do this is by stopping thoughts dead in their tracks when you find that negativity is getting the best of you. Let’s say you’re suddenly confronted with a problem and don’t have a way to fix it.
Instead of saying, “I’ll never be able to solve this,” tell yourself, “I don’t have a solution to it yet, but I will.” By regularly affirming this, you'll feel energized to solve the dilemma instead of immobilized by it.
One of the best ways to blow negativity out of the water is by ridding yourself of the mental habit of pondering “What if?” questions every two seconds.
Worry arises because the human brain has a tendency to conjure up worst-case scenarios. This means the chances of them happening are vanishingly slim.
Even if a worst-case scenario happens, so what?
If you approach it with the right attitude, you’ll see it as a temporary setback. This helps you get back on track so you can go back to creating a resoundingly successful CFO advisory firm.
Another thing you can do to remain optimistic when things are crumbling around you is to take a brisk walk. This can reduce negative thinking so that it doesn't cloak everything in your life underneath a dark and dreary cloud.
Regular exercise floods your cranium with feel-good endorphins. It is also a powerful way to dissipate stress, which helps you maintain the positive mindset you need to succeed as a solopreneur.
2. Eliminate Self-Doubt
As someone running their own business, you might suffer from bouts of excruciating self-doubt.
That’s because when your phone hasn’t rung in days and your inbox stays empty, it’s tempting to think that clients have left you for a competing CFO-advisory service.
Often, we are our own worst enemy. We constantly question whether it was the right decision to start a business in the first place or doubt our ability to succeed in a highly competitive marketplace.
It can help to surround yourself with the right people. Keep the individuals who encourage you nearby, and regularly seek their counsel. Stay away from people who only express pessimism about your ability to create a successful business.
3. Celebrate Small Victories
While it’s crucial to celebrate huge wins, it’s just as important to revel in tiny ones. Look at all the small steps you have already taken and see them as achievements in their own right.
Months can elapse between significant milestones. If you only celebrate them, you'll miss out on hundreds of chances to solidify your success.
Basking in our successes reinforces success habits. It confirms we are on the right path and provides the motivation we need to make the next stage of the journey.
A great way to celebrate tiny wins is by having an "already done" list. Instead of writing everything you need to do, list everything you've been successful with since starting your outsourced CFO advisory service.
That way, you’ll see how far you’ve come, which is a terrific morale booster.
4. Find a Mentor
The best solopreneurs do not try to tackle challenges alone. Instead, they find mentors who can help them. That way, they’re better equipped to avoid the pitfalls that invariably rear their ugly heads when building a business.
As a solopreneur, there’s no head honcho to turn to for direction. However, even if you’re flying solo, you don’t have to be completely alone. A mentor can be a sounding board and provide psychological support when the going gets tough.
Mentors are typically experts in their field, bringing with them decades of in-depth industry knowledge. One of the most significant advantages of having a mentor is you can pick their brains. That way, you can learn from their mistakes.
Surrounding yourself with people who've already successfully established a CFO advisory service can drastically shorten the learning curve. Furthermore, mentorship is usually a mutually beneficial relationship.
You receive valuable insights cultivated from years of experience. They get to learn new ways of doing things from you.
Hone Your Solopreneurial Skills with Training From The Expert CFO
The days when individuals feel they have no choice but to pursue the career path chosen when they were pimply-faced high school or college students are over.
It is high time to break off from the rest of the pack and do what you’ve dreamed about for years: being your own boss. If you’re an accountant only offering basic bookkeeping services, you’re tapping into a fraction of your potential.
At The Expert CFO, we can help unlock the opportunities someone with your financial background has. By going beyond mere compliance work, you’ll boost your earning ability while doing something vastly more satisfying than merely generating financial reports and preparing tax returns.
You’ll have access to mentorship in the form of a team of CPAs with over 100 years of combined experience to help make your solopreneurial journey a successful one.
We even have a step-by-step 30-day action plan to help you land your first client.
Contact us today!
