When I first started my business, I was 14 years old. My income was pretty light, and my expenses were even lighter. Heck – I didn’t even pay for hosting. I hosted my few client websites on a web server in my bedroom (don’t tell my old ISP).

But even then, I knew the importance of keeping track of my income and expenses, which I did in an Excel sheet. I’ve always had an interest in accounting, which I thought served me well.

Then I hired Rachel Stas. She made some fantastic changes to my business that ended up saving me money AND lowered my tax bill. And while everyone is different, I know the advice she gives today will be great for any solopreneur*.

Want to hear a longer, ad-free version of this episode where Rachel and I talk about my business, and I ask her specific questions about my books? Become a member of Streamlined Solopreneur Accelerated.

Top Takeaways

• Forming an LLC alone does not provide tax benefits. While incorporation is an important aspect of running a business, you also need to file as the right type of entity (like an S Corp), to help lighten your tax load.
• Track all business income and expenses from day one in a spreadsheet or separate bank account. Don't rely on memory or mix business and personal finances.
• Don’t deduct for the sake of deducting, and be cautious with what you deduct. Some things, like a home office, might offer short-term gains for long-term pain.

Finally, I believe that investing time upfront to properly track finances and get professional accounting help pays off in the long run in taxes saved and peace of mind. Don’t wait until your business gets big to implement good accounting practices.

Show Notes

• Rachel Stas Tax
• Why Solopreneurs Need to Time Track
• Podcast Growth Audit

• Check out Podcast Workflows here or wherever you get your podcasts
• Get started with Clariti for just $1 your first month with code SOLO2024

My newsletter has gone through a lot of changes over the years, but something that's been steadfast is promoting the latest episode of this podcast at the beginning of the week. And that made perfect sense when both the newsletter and this podcast talked about largely the same thing.

But now this show talks about running a solo business generally, while the newsletter is supposed to focus on podcast processes and systems.

They both make the same promise, but the audiences are different.

I've tried splitting the baby, so to speak, by promoting the episode, and then something behind-the-scenes look at that episode.

But it doesn't work. You know...don't talk to more than one audience, yada yada.

As a result, the newsletter isn't growing the way I'd like. And that’s what we’re talking about today.

Top Takeaways

• I need to make my newsletter’s value proposition clear. Right now, it’s trying to attract and talk to two different audiences.
• As a result, it’s not a “recommendable” newsletter. People with great newsletters (like Chenell Basilio and Justin Moore) have great newsletters with a clear focus, so people know who to recommend them to.
• The new format of the newsletter will drive home my promise: to improve your podcast processes. And while I may recommend Streamlined Solopreneur sometimes, it will not be the focus of any newsletter.

• Get started with Clariti for just $1 your first month with code SOLO2024

I remember the first time I got an affiliate payout. I didn’t even know it was coming. The money just showed up in my account.

“What is this from?” Then an email followed. A hosting company I had written a blog post about paid my affiliate commission for the last 2 months.

Since then, I’ve been stumbling through, clumsily trying to make affiliate income an appreciable part of my income – but it’s never worked as well as I hoped.

So I brought in an expert: my friend Justine. She’s been doing affiliate programs forever and currently leads ConvertKit, as well as consults through her own business, Brilliant Affiliate. She’s the perfect person to talk to.

Justine not only sets me straight, but she offers a TON of fantastic actionable advice for how to make the most of affiliate programs, how to find the right ones, and how they can live harmoniously (and even help) with sponsorships.

Top Takeaways

• Affiliate programs provide a way to earn passive income by referring customers to products/services you recommend. Look for ones that pay well.
• Target your affiliate content to the right people – people who are low in the funnel, and are weighing their options between your recommended product and competitors.
• Balance affiliate income with sponsorships - affiliates are more passive/long-term while sponsorships are good for timely campaigns. But being a good affiliate can also help you land sponsored campaigns from the same company!

Show Notes

• Justine Galea
• Justine on Twitter
• ConvertKit
• Podcasting Tools

Sponsors:

• Check out Liquid Web
• Get started with Clariti for just $1 your first month with code SOLO2024

A common thread on the show this year has been the push and pull of finding the right tools while also balancing our time and money as solopreneurs.

A while back I invited my friend and fellow podcaster Sarah St John onto the show. She’s the host of the Frugalpreneur podcast, and at first, I thought we’d share podcasting war stories.

But then everything went wrong. We were having both hardware and software issues. So once we got everything squared away, I thought we could refocus the conversation. See, I have a tech background, and sometimes forget that troubleshooting and working with tech isn’t everyone’s cup of tea.

So we decided to dive deep into managing your tech stack without spending a fortune. We share our top tips and personal experiences on how to choose the right tools, avoid unnecessary expenses, and leverage platforms like AppSumo for amazing lifetime deals.

Whether you're a tech newbie or a seasoned pro, this episode is packed with actionable advice to help you streamline your business operations and save money.

Top Takeaways

• Evaluate Your Current Tools: Regularly check if your tools are still meeting your needs.
• Consider the Cost of Switching: Weigh the benefits of switching tools against the effort required.
• Balance Convenience and Cost: Ensure the cost of a tool is justified by its value.

Show Notes

• Sarah St John
• Caard
• Skool
• Captivate
• Descript
• System.io
• SendFox
• TidyCal
• Castmagic
• Capsho
• Podium
• Podsqueeze
• StreamYard
• Riverside
• Transistor
• Obsidian
• Notion
• Ecamm Live
• Cal.com
• WordPress
• Switchy

Sponsors:

• Check out Liquid Web
• Get started with Clariti for just $1 your first month with code SOLO2024

I remember the first time after my wife and I started dating that a mutual friend of ours became pregnant. I was the first one to find out and got to relay the message to her.

"Amy's pregnant," I said. My wife then asked a series of questions: "When is she due? What is she having? How is she feeling?" I had the same answer to every question: "I don't know."

All I knew was that Amy was pregnant. My wife later went out and found this information for both of us. All these details were crucial to being a more present and supportive friend.

So why am I telling you this? if you are running a business, especially a solo business where your time is so important, and you are not time tracking, it's kind of like knowing just the bare minimum.

You might know you completed a project, but you should really know how long you spent on it, where you are spending most of your time, and how you can use this data to improve your business.

So in today’s episode, you’ll learn about the importance of time tracking for solopreneurs. Time tracking is not just about noting down hours; it's about understanding where your time goes, improving efficiency, and making informed business decisions.

Top Takeaways

1. Start Simple: Begin with basic time-tracking methods like pen and paper or simple apps. The key is to start noting down where your time goes, even if it's just approximate.
2. Use the Right Tools: I recommend using tools like Timery (which sits on top of Toggl), Timing, and RescueTime. These tools can help automate the process and provide detailed insights into how you spend your time.
3. Categorize and Tag Tasks: Break down your tasks into projects and use tags for more granular tracking. This helps in understanding which specific activities are taking up most of your time and allows for better analysis.
4. Regular Reviews: Review your time tracking data regularly—weekly, monthly, and quarterly. This helps in identifying trends and making necessary adjustments to improve efficiency.
5. Automate Where Possible: Use shortcuts and automation tools like Stream Deck and focus modes on iOS to start and stop timers automatically. This reduces the manual effort involved in time tracking.

Sponsors:

• Check out Liquid Web
• Get started with Clariti for just $1 your first month with code SOLO2024

Just this morning I watched an incredibly interesting video that sent me down a rabbit hole. A 19-year-old kid was arm wrestling against a massive bodybuilder – and won, pretty easily. Thinking this could be rigged or fake, I looked at other matches this fellow – Maxim appears to be his name – competed in. And he won…a lot.

See, while he is very strong (just not as big as the other guys), Maxim has great technique.

What does this have to do with lead generation? Well, as you’ll hear from Jennie Wright, you don’t need a massive list to build your business. You don’t need to be smarmy. You don’t need to be showy.

You just need to have good technique – and forge good relationships.

Top Takeaways

• Consistency is key in lead generation. Create a plan that aligns with your end goal and focuses on activities that will give you the best results within your available time and resources.
• Leverage other people's audiences by appearing as a guest on podcasts, speaking at summits, and participating in bundles. This is an effective way to grow your credibility and reach new potential leads.
• Nurture your leads authentically by setting expectations, providing value, and building trust. Avoid being too salesy, and focus on creating genuine relationships with your audience.

Show Notes

• Jennie Wright

Sponsors:

• Check out Liquid Web
• Get started with Clariti for just $1 your first month with code SOLO2024

Perhaps the most important lesson I learned over and over again running a business is that it’s never about the tool – it’s about the solution to a particular problem.

So while I recruited Mike Schmitz to talk about Obsidian, what we actually talked about was much, much deeper. Personal Knowledge Management (PKM) is much more about defining your approach, and intentionality and making time for the important things in your life. All of this creates balance, and space, for you to do your best work.

Mike also shares his 5 C's of his "creativity flywheel" for capturing ideas and creating valuable output, which is fantastic.

If you're feeling overwhelmed by information and struggling to turn your ideas into reality, this episode will give you a framework to tame the chaos. Tune in for practical tips and inspiration to upgrade your PKM and productivity!

Top Takeaways

• Obsidian is powerful but requires intentional use to get value from it. Simply dumping notes in is not enough - you need a system.
• Having a philosophy, vision, and values guides what projects and information to focus on. Start with the end in mind.
• Use apps intentionally by "hiring" them for specific jobs. Don't try to do everything in one app. Pick the best tool for each job.

Show Notes

• Mike Schmitz
• Wiki-style Offline note-taking App
• Intentional Life Chart
• PKM Stack
• 5 Cs of Creativity
• Steal Like an Artist
• What I Learned From BJ Novak
• Obsidian
• Mind Node
• Focused Podcast
• Bookworm Podcast
• Ugmonk
• Practical PKM

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Tell me if this sounds familiar: you know you need to publish a blog post, video, or newsletter, but you have no idea what you’re going to talk about. And this isn’t the first time it’s happened.

You definitely have ideas, but you can’t think of anything at the moment. That’s why you need a content calendar – and why I’ve brought on Kaitlyn Merola to tell us all about them.

We're going DEEP on how to plan, organize, and execute on your content and social plan using a centralized content calendar. Here’s what we’ll cover:

👉 What exactly is a content calendar (and how it’s different from a social calendar)

👉 Determining the right content cadence (why more != better)

👉 Repurposing content across channels (maximize that ROI!)

👉 Mapping content to the buyer's journey (awareness, consideration, sales)

👉 Plus, in Accelerated, we talk about the role of AI in content creation (spoiler: not what you think!)

Whether you're a solopreneur in a content feast or a content famine, this is for you!

Top Takeaways

• A content calendar is a central place to plan, organize, and track all your content efforts across different channels. It helps provide direction and alignment for your content strategy.
• For SEO purposes, prioritize quality over quantity - publishing one high-quality blog post per week is often sufficient rather than lower-quality posts daily.
• Map your content to the buyer's journey stages (awareness, consideration, decision) to ensure it serves the right purpose at each stage.

Show Notes

• Kaitlyn Merola
• Move Marketing

Sponsored by Liquid Web

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