In the last 5 years, I have gone from a part-time freelancer to a full-time business owner, writing for publication and writing, editing and marketing for clients. My business has grown so much that lately I've been turning down prospective clients, referring them to colleagues, because I don't have the capacity to take on more business unless I outsource, subcontract or hire an assistant. This has prompted the question - where do I grow from here? Do I stay where I'm at, taking on the same amount of business and finding ways to become more efficient? Or do I consider hiring others to help with the workload and reposition myself as a team of professionals rather than just one person? How much do I want to work? How much do I want to make?
Not sure how to analyze my answers or whether to consider taking the next step, I contacted my local Small Business Development Center at Green River Community College. I will consult with business guru Kirk Davis there to help me sort out the answers. In addition, I plan to consult with a CPA and/or attorney to decide if it is time to move to an LLC from a sole prop.
Has your business grown recently? How did you decide how to take it to the next level? I'd love to hear from you!
I'm not sure where I'm headed - or even where I want to go - but the prospects are exciting. Stay tuned!