Three challenges I faced with my small business
When I started my social media management and content creation business last year, I figured it would be a good way to get a good tax return on my freelance work.
It ended up really taking off and becoming more than that.
Within a year, I was managing multiple accounts. It turned out there were a lot of small business owners who just didn’t have time to maintain a strong social media presence.
While this was great news for me, especially when I began my maternity leave, it meant that I would soon face all the challenges of being a small business owner. Here are the difficulties I faced that you should look out for:
Pricing your work properly
When I was establishing my price list, I asked myself the simple question “how much is this item worth?” The items I was talking about were things like a Facebook post, an Instagram post, or a tweet. So I priced them accordingly, anywhere from $2.50 to $3.
I felt that was more than reasonable, considering it rarely ever took more than a couple minutes to write the posts and captions. But what I didn’t take into consideration was the time it would take to post, the effort it would take to find the perfect photo, and what it would take away from my day to ensure proper engagement.
I was offering posting services to people for the same price as just the simple content creation. Posting should've come at an extra cost. And if I had to find the photos myself, I should've charged extra for that as well.
So don’t just think about the item. Think about the work.
After working in sales/customer service for most of my teenage years and my early twenties, I did not want to be a salesperson. But when you own a business, small or large, all of your revenue is based on sales. And if you want clients, you have to push sales.
While I prefer word of mouth referrals and have secured most of my business through them, I still have to do my due diligence and put the word out about who I am and what I do, and essentially plant the seed for people who may need my services one day.
Hand out your business cards. Do cold calls. Set up business-based social media accounts. Post. Put the word out. Sell yourself.
Being organized is easy…until the clients start rolling in. It’s crucial to stay on top of which invoices are paid in full, which are outstanding, which tasks have been completed and which need to be done.
Keep lists. Keep an eye on your accounts. And check in with your clients! Ask for feedback, don’t be sensitive if it’s not what you wanted to hear. And always look to improve yourself and your services. You never know, your business might take off and allow you to quit your 9-5 one day!