What Is A Solopreneur – Solopreneurship
I expect you are either a person who set up and runs a business on your own or interested in becoming one.
Either way: thank you for visiting Solopreneurism.com
I want to focus on the fun side of being a solopreneur, the opportunities, and challenges and why it’s a great lifestyle to have
Every person can be a successful entrepreneur working solo by working hard and passionately.
But it is safe to say it isn't for everybody.
Solopreneurism is growing in popularity.
Solopreneurs are a growing force.
A solopreneur is someone who sets up and runs a business on their own.
Working alone means you enjoy a lot of freedom.
Where you work, how late you start, on which seat you sit, when you eat and how you and with whom you eat that sandwich,
I raised and run my business solo, single-handedly!
As a person who has to deal with all aspects of business myself, I learned a lot about the business.
That means I make all the decisions, call all the shots, and play the entire game alone.
[To be honest, my husband does help when and where he can]
Solopreneurs are often the go-to people for project execution. #projects #gtd”
In a world where specialized work is abundant, where global connectivity is a given and where internet provides money-making opportunities, the solopreneur is here to stay.
But rest assured.
Flying solo doesn't mean you have to do everything alone.
They can hire others to do chores for them.
But every professional choosing to start a business with no intention of ever adding staff knows the risk of wanting to do everything alone.
By being a work-a-holic, they risk burning out.
To avoid my risk of burning out, I try to stay away from administrative tasks and marketing.
I go for income producing opportunities (IPO's) whenever I can.
But I know others who do those jobs themselves too.
To each his own!
Solopreneur VS Entrepreneur
A Solopreneur and Entrepreneur Differ
“Solopreneur” is easily interchanged with “entrepreneur,” but there are subtle differences.
Many entrepreneurs work alone too.
A large number of them creates businesses over the course of their life.
A solopreneur usually works one thing consistently.
An entrepreneur often builds a team to delegate work to.
He leads his team towards a goal.
Solopreneurs instead do it alone.
Even if it means they'll have to dig in deep to do get the work done.
Outsourcing work or bringing in a team member is something of last resort.
Solopreneurs are workers.
They love to run a one-person shop and roll up his sleeves and start working.
Entrepreneurs, on the other hand, have no trouble delegating.
Even if this means they have to delay that process until they have enough money to bring in extra team members.
Many entrepreneurs start out working alone.
But their mindset is different.
This makes it harder to see the distinction.
Generally speaking, you might say entrepreneurs focus on their business while Solopreneurs focus on their lifestyle.
My Solopreneurism Story
My “office” is at home.
It can be found in working the living room of our house.
In a cozy corner!
The combination of working alone and staying involved in family life inspires me.
Having space to discover new endeavors and wander around in virgin territory feeds my bubbles of creativity.
Your surrounding can help your hidden qualities show and bloom, so you become an even better freelancer or consultant.
Becoming a solopreneur meant I had to find where my strength lies?
But it also meant an opportunity to challenge my comfortable borders and go for activities that lie beyond my comfort zone.
You will find hidden qualities, or perhaps one of them is the reason why you now have become a ‘solopreneur.'
My qualities are my sensitivity and creativity.
The fact that they form a pair and strengthen each other.
I heard of a book called the employee-free society.
The author, James Altucher, states that solopreneurship stimulates our creativity.
The creativity that for many of us has been restricted by managers, colleagues, structures, and procedures.
Pros of Solopreneurism:
Solopreneurship as a career is tempting for several reasons.
- There are some fun ideas you can explore as a solo entrepreneur without having to ask for permission.
- You can launch a business at a low cost.
- You get to keep what you make.
- You decide everything about your business.
- You can do what you want.
- You are responsible for your success.
- Being able to work remotely, anywhere in the world, for a range of clients the world over.
- You are your brand
- You create your schedule.
- No one holds you accountable.
- Anything is possible.
Cons of Solopreneurism:
Yes, the solopreneurship also has disadvantages.
A career as a solopreneur is not without risk.
- You are responsible for the entire operation.
- Burnout can happen a lot faster.
- You can feel isolated
- No one holds you accountable.
- You might have to accept jobs that do not completely fit your profile or your liking.
- Sometimes a job taken on can be disappointing.
[One consolation: it is only a temporary job.]
- You have to hone your skills, be sharp-minded and work towards results.
- Targeting clients who understand your worth/appreciate your skills
- There is no financial safety net in the event of termination of a contract, and that keeps you sharp.
- Despite the benefits of temporary assignments, you might miss the depth of long-term collaborations.
If you want to read more about Benefits & Challenges I can recommend reading “65 Experts Share Why Solopreneurship Is a Grand Slam, And How to Avoid Striking Out”
You might also be interested to read the article Top 10 Advantages and Disadvantages of Working from Home by Michelle Kiss.
Business Idea Opportunities
You could be one or a combination of any solopreneur ideas:
-Creator Information Products
-Online Course Creator
-Social Media Influencer
-Social Media Manager
What makes for successful solopreneurs?
It doesn't matter how you define success; these things make solopreneurs successful:
- They know that money is not the primary focus
- Solopreneurs see the value of their time
- They are not afraid to try new things
- They are consistent, no matter what happens
- A solopreneur knows the power of collaboration
- They make mistakes and continue even so
- They do not forget to have fun during the trip
- Solopreneurs celebrate their small and big successes
The Gig Economy
The gig economy platforms provide extreme flexibility to solopreneurs.
They now have full control over how to spend each minute and hour of the day.
But that doesn't necessarily make things easy.
After all, there are constraints we have to deal with like our tendency to keep working until deep into the night despite plans to the contrary or to procrastinate.
Because it lacks regular working hours and other externally imposed time structures, these tendencies seem to increase in gig work.
To help manage your time in the absence of formal time structures, many solopreneurs use timers while working towards their daily earnings goals.
This new structures of working life’, isn't the same as the standard ‘old’ workplace institutions like regular working hours.
It takes time to adjust.
In a certain sense, the earnings goal (after all even solopreneurs need to live) is the new 9-to-5.
The online community is the new office floor when it comes to structuring your time.
Do you think you have what it takes?
Do you have the courage to start as solopreneur!
Anyway, there is no need to answer that question immediately.
After all, you don't have to dive into the deep at once.
Dip your toes in the solopreneurism waters and find out if the water has the right temperature for you!
Is Becoming A Solopreneur Really The Way To Go?
If you are planning to quit your current job and enter the world of the solopreneur, then you had better be pretty darn well sure that this is something you want to do.
Even if you are sure that you want to become a solopreneur in your chosen field, is it something that is financially possible for you?
- Can you support your family on the salary you make as a solopreneur?
- What about healthcare, are you prepared to give that up too in pursuit of a future as a solopreneur?
- Can you handle the stress that comes from working with tight, often ridiculous deadlines on your projects?
- Do you work well by yourself and can you speak well when talking with a potential client who may want to hire you for his next project?
- Finally, do you have what it takes to continually advertise yourself and your services to anyone who may be interested?
Far too often, people think that they want to be solopreneurs simply because it sounds cool.
After all, many people get it into their heads that there is no more relaxing work atmosphere than being able to wake up late, work on your computer while you are wearing your pajamas, and take off whatever days you want as your vacation.
Let’s be honest here – there are quite a few trials and tribulations that you will have to go through as a solopreneur before you can reach the point where you do not have to worry about your finances anymore.
Yes, that is something that so many people fail to realize – you cannot expect to just quit your current job for life as a solopreneur and suddenly have hundreds of potential clients knocking at your door in the hope that you will do a project for them.
There is much more to it than that, so let’s find out if you have what it takes to make it in the cutthroat world of the solopreneur.
The first thing that you have to realize is that you may not be able to make ends meet for quite some time.
So, if you are thinking about quitting your current job – don’t do it just yet.
Instead, test the waters and be sure that you like freelancing first, and find out how much money you can make before you even begin to work on your resignation papers.
As a fledgling starter, your best bet is to start off with clients that may not pay as much but will be able to get you in the door.
Sure, you will have to take jobs that you may think are below you – but in the end, it will pay off.
Maybe not financially at first, but by way of getting your name out there and adding employment opportunities to your ever-expanding list of satisfied customers.
Therefore, if you want to start professionally, you have to be willing to take a pay cut at first in order to be successful later.
Secondly, you have to figure out whether or not you can support your family on the income you will make as a solopreneur.
Remember that you will have to take a pay cut from your current job when you first start out as a solopreneur and when you finally quit your current job for good, will you be able to bring in enough work to keep your family’s lifestyle at the same level it currently is?
These are important questions that you have to ask yourself before you make that big leap into the world of working for yourself.
While it is not very important if you decide to keep doing freelance work as a supplement to your current income – it will become extremely important if you decide to make your freelance salary your sole income.
Next, you have to think about what you will do for healthcare as a freelancer.
Without the support of an already established business behind you, you will have to pay for your own (and your family’s) health insurance out of pocket.
This is not a big deal if you have a spouse that gets health insurance from his or her workplace, but if your spouse is a stay at home parent or is involved in their own business, this becomes a major expense to think about.
So be sure that you will be able to afford health insurance for all of your loved ones when you become a solopreneur.
Stress management is a key factor of working for you as a freelancer.
You will be faced with projects that may require you to work long and hard before you can finish them.
Often, these projects will be challenging and be under some ludicrous deadline – making them that much more intense.
So, are you good at handling stressful situations such as these?
After all, if you are not able to get the project back to your client on time and in working order, you may be discredited and have a much more difficult time finding work for many months to come.
Are you a team player or do you work better as an individual?
While this question may seem insignificant, remember that as a solopreneur you have no team to rely on should you not know how to do something.
Sure, you could scour the internet for answers to your questions – but that will take away valuable time from your project.
So, if you are the type of person who can accomplish tasks more efficiently in a group, then you may want to rethink the idea of going solo because the individualize work environment of a freelancer is indeed not for you.
Finally, can you handle the fact that you must constantly advertise your services to just about anyone who may need you to do some work for them?
Do you have enough self-esteem that you can promote yourself as if you are the best freelancer out there?
Being able to constantly advertise your services is a significant benefit for anyone looking to become a freelancer.
While it is possible to be shy or withdrawn and be successful as a solopreneur, you will have a much easier time if you are more vocal about promoting your services to prospective customers.
For some inspirational quotes click quotes
Are you a freelancer, contractor or consultant?
Then you are a SoloPreneur.
And that is undoubtedly a good move.
You enjoy flexibility, independence, diversity, freedom of company policy and the ability to quickly make a difference for your customers.
You lead your professional life, and you are much better at juggling all the balls in the air.
Moreover, companies crave for such energetic, creative and innovative minds.