Written by: Sierra Melcher, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
In the bustling world of entrepreneurship, where the relentless pursuit of success often intertwines with the challenges of managing a business single-handedly, mastering innovative momentum becomes a pivotal aspiration for small business owners. Amidst the whirlwind of tasks and responsibilities, a solopreneur's journey is marked by strategic choices and transformative practices that can redefine their trajectory.
Within this landscape, three simple yet groundbreaking strategies stand out as catalysts for sustainable growth:
Implementation of a weekly executive meeting
Deliberate allocation of a month to prioritize back-end building
Conscious scheduling of sufficient personal time off
These seemingly straightforward yet profoundly impactful practices cater to the unique needs of solo entrepreneurs, providing avenues for focused reflection, structured development, and the invaluable space required for visionary thinking. In this article, we delve into these game-changing strategies, unraveling their potential to revolutionize the approach of small business owners toward innovation and success.
Weekly executive meetings for solopreneurs
Implementing a weekly executive meeting as a solopreneur might seem unconventional, but it can be a highly effective practice in cultivating structured thinking, fostering accountability, and driving strategic growth. Wearing multiple hats, juggling various responsibilities is the name of the game. Dedicating time each week to an executive meeting with yourself can provide invaluable benefits. Treat this meeting as a focused session to review your business performance, set priorities, and strategize for the week ahead. It serves as a designated moment to step back from the day-to-day tasks and assume a higher-level perspective to assess progress and plan for the future.
Start by setting aside a specific time and day dedicated to your executive meeting each week.
Use this time to reflect on your accomplishments, challenges faced, and lessons learned during the previous week.
Create a structured agenda covering financial updates, marketing strategies, client interactions, and pending tasks or goals.
Use this solitary executive meeting as an opportunity to brainstorm innovative ideas, assess potential prospects, and recalibrate strategies to ensure your business stays adaptable and resilient in an ever-evolving market landscape.
This practice helps establish a routine of critical thinking and structured planning, which is essential for the sustainable growth of your solopreneurial venture. Make the plan and then stick to it. *This one strategy helped me build a thriving profitable business in two years.
Structure your executive meeting
Personalize this for your goals and business. These are not meant to take too much time. Don’t overcomplicate it. Select 5-8 details to track weekly. Reserve the others for your quarterly check-in.
Here is the structure of my weekly executive meeting- refined over time.
The Focus for the next week- One thing; if you have more than three focuses, you are not focused.
Priorities: The Eisenhower Matrix: helps divide tasks by urgency and importance
Monthly energetic cycles* Especially as a woman, I find my hormonal flux impacts how I work, so keeping in mind where I am in my cycle allows me to show up best. *Men have hormonal cycles but flux on a 24-hour cycle rather than a 28-day cycle. Men can apply this to hours of the day rather than days in the month.
Gratitude: What are you grateful for? The science of happiness and positive psychology suggests that gratitude is most effective when practiced regularly.
Victories: List the wins from the past week. It is so important to see progress and success, large and small.
Money Love: Attend to your finances. For many, money is a topic of stress; a common reaction is ignoring it. What if your relationship with money were joyous and energetic? Regularly check your balance, projected income, and P&L statement from a place of love.
Leads & Connections: building connections & follow-up is proven to increase conversion rates. Keep track and make a point of following up with people.
Events: What is on the calendar for the coming week? I have a tendency to overschedule. Be sure your days are structured for optimal performance & focus – It is ok to reschedule something.
Remember, the purpose of this meeting is to provide structure, foster reflection, and guide the direction of your solopreneurial endeavors. Adjust and personalize these bullet points according to your specific business needs for an effective meeting routine.
What are your priorities for your next weekly executive meeting? Message me– I’d love to know.
A “month off” to focus on systems
“I can’t take a month off from client work and sales to build or improve my systems!” you might say. I know; I was exactly the same when I started my business. It was unimaginable. However, since I started Red Thread Publishing, we have grown a lot, partially as a result of making this a priority. For the past two years, we have successfully scheduled a month off from client work to review and upgrade our internal processes.
The idea of small businesses planning a dedicated month off to focus on back-end building can be an astute strategy with multifaceted advantages. Amidst day-to-day operations' constant hustle and bustle, allocating a specific period solely for back-end development can be transformative. This deliberate hiatus provides an invaluable opportunity for entrepreneurs and their teams to recalibrate, strategize, and fortify the foundational aspects of the business that often get sidelined amid immediate tasks. During this month, emphasis can be placed on refining internal processes, optimizing systems, enhancing technology infrastructure, and even nurturing professional development among employees. By channeling undivided attention towards these critical back-end elements, businesses can set themselves up for sustained growth and improved efficiency in the long run.
Moreover, a dedicated month for back-end building aligns with the notion of 'working smarter, not harder.' This period allows for comprehensive brainstorming, experimentation, and implementation of innovative ideas that might otherwise struggle for attention amidst the chaos of regular business cycles.
What would it look like for your business to plan for this next year?
Visionaries need personal time to dream
The concept of ensuring sufficient personal time off for company leaders is not just a luxury but a necessity, especially considering their role as visionaries steering the course of their businesses. Leaders, often burdened with the weight of responsibilities and decision-making, require moments of respite to recharge their creative energies and envision the future of their enterprises.
The creative process often thrives in solitude and reflection, and company leaders, as visionaries, require this personal time to dream, conceptualize, and envision the future. Time off provides a sanctuary for leaders to detach from the daily routine, gain fresh perspectives, and cultivate innovative strategies that can propel their businesses forward.
These periods of personal downtime serve as incubators for ideas defining the next growth phase. By granting leaders the space to dream, explore, and innovate, businesses can tap into their visionary potential, setting the stage for breakthroughs, disruptive ideas, and sustainable growth strategies that can elevate the company to new heights.
For the first few years of my business, I didn’t see how I could step back, even for a day, without consequences; in the beginning, it can be tough, but now I am getting ready to take three weeks off at the end of the year. Previously, I couldn't do this without my business collapsing. Honestly, it took me nearly two years to be able to do this. But I have been planning & building with this in mind. Like taking a month off from client work to improve our systems each year, we had to build it into the plan to make it possible. It didn’t happen overnight, nor will it happen without intentional focus. But the benefits are enormous.
These three strategies have helped me skyrocket my business without burning out. Start with the weekly executive meeting, and as you plan for the next year, see how and where you can implement versions of the other two practices to best serve you, your business, and your clients.
A productive weekly executive meeting for a solopreneur could also include any of the following (choose wisely):
Review Previous Week's Goals: (Victories)
Acknowledge accomplishments and note any incomplete tasks or challenges faced.
Financial Update: (Money Love)
Analyze any trends or fluctuations and identify areas for improvement.
Marketing and Sales Analysis: (leads & connections)
Evaluate the effectiveness, client interactions, and conversions.
Discuss any upcoming campaigns or changes to the marketing plan.
Operational Check-in & Client/ Project Updates:
Address any operational issues: needed improvements to systems.
Review the status of ongoing projects or client engagements.
Long-Term Goals and Strategy: (review quarterly & yearly goals)
Revisit long-term business objectives to stay on target.
(put new ideas in the “parking lot for later)
Task Prioritization for the Week Ahead: (Focus)
Set clear and achievable goals for the upcoming week.
Prioritize tasks based on urgency and importance: The Eisenhower Matrix helps divide tasks by urgency and importance.
Self-Development and Learning:
Allocate time for skill improvement or knowledge acquisition.
Reflection and Key Takeaways: (gratitude & victories)
Reflect on lessons learned and action points to implement.
Plan for Next Meeting: (don’t spend too much time on this set repeating meeting once)
Sierra Melcher, Executive Contributor Brainz Magazine
Best-selling author, international speaker & educator, Sierra Melcher is founder of Red Thread Publishing LLC. She leads an all-female publishing company, with a mission to support 10,000 women to become successful published authors & thought-leaders. Offering world-class coaching & courses that focus on community, collaboration, and a uniquely feminine approach at every stage of the author process. Sierra has a Master’s degree in education, has spoken & taught around the world. Originally from the United States, Sierra lives in Medellin, Colombia with her young daughter.
