The term solopreneur may not be one that you have heard of. But it does showcase a new way of working in business. The word solopreneur is usually lumped in with the freelancer term. But they are two different things. A solopreneur is unsurprisingly more linked with the term entrepreneur. The difference between an entrepreneur and a solopreneur is that a solopreneur exclusively works by them—much like a one man band.
There are many pros and cons with being a solopreneur. It is definitely a double edged sword. Are you thinking about making the leap into starting your own business? In such a case, you need to be actively looking for business opportunities. Here are things that may be positives and negatives for you:
Working By Yourself: The Lonely Pursuit?
When you compare working by yourself to working for a boss or a company, the advantages are many. From a personal angle, you are setting your work hours, and you are dictating your working rhythms.
There is a honeymoon period that comes with working for yourself. There is that wonderful feeling of waking up in the morning, turning on the computer and making yourself a coffee before settling down to do some work in the comfort of your home.
There is a knack that you need to acquire when it comes to working by yourself, and that is discipline. Disciplining yourself is a long and somewhat difficult road to go down. When you work in an office, you are working as part of a team or a unit with a solid structure. On that basis, you need to rely on other people, and they need to rely on you. That factor is completely eradicated when you work by yourself.
Motivation is a big thing, especially if you are just starting out in business. So, finding your specific rhythm to keep your business or solopreneurship active is something you need to figure out.
Of course, working by yourself can be a dream for most people. And if you have that drive instilled in you in the first place, then becoming a self-starter won’t be a difficult task. However, if you feel that you need some inspiration, there are always nuggets of insight or business podcasts that you can listen to.
Essentially, you are running a business completely by yourself. Save for the odd freelancer to complete minor tasks for you, you are in it on your own. Running an organization entirely by yourself requires knowing how to keep plates spinning. Multitasking will be your key skill. Learning to grow a business requires having the marketing know-how, a great product and the ability to network effectively.
Networking is a vital tool that you need in your arsenal. It will help you get clients, ally yourself with influencers and get your business name out there. You, as a solopreneur, are the business or commodity. So, shutting yourself away and communicating by email only will not set you up as a key member in the market.
Choosing to run a business by yourself can be a help, but it can also be a hindrance. There are ways to navigate around these issues. People always talk about not having enough time for things, make time in your calendar to network and to show up at the right events. You could even set up your networking events, which is a great way to take the bull by the horns. To get more information and help on setting up events like exhibitions, you can go online and read at Steelhead Productions.
Creativity: Can You Bounce Ideas Off Yourself?
If you’re running a business by yourself, you can do what you want with it. You have your ideas, and you can run with them. You don’t have anyone to tell you how to run your organization, which is great for you because you can do exactly as you please. But when it comes to idea generation, you only have yourself to bounce ideas off.
When you compare this to your old work scenario you had a team that you could work with, and ideas would be of an infinite amount. But the quality of the ideas may not be the best. Working by yourself, you need to be sure that your ideas are foolproof. And it is in this way that you need to ally yourself with key influencers in your field.
Another way of initiating contact to get inspiration would be to occasionally post a blog for clients and other businesses to see. This is especially handy if you’re running a business that is viewed as quite a niche subject. In doing this, you can help reveal the tricks of your trade to help others that are in the same position as you but just a bit further behind. You never know: you may have people approaching you for approval, and these could be potential clients. Or even business partners!
The Solo Workplace
The great thing about working solo is that you can work anywhere, within reason. Human interaction is somewhat reduced. This is great for workplace tension, as there isn’t any! Working by itself gives you that freedom to move your workplace to wherever you want. If you fancied a working holiday in Hawaii, then why don’t you do it? Or, if your business is still trying to get off the ground, then you could just go to the garden!
The final word on being a solopreneur is that the responsibility is yours completely. You need to make sure that you have sufficient backup plans in place to avoid major blunders. Always be learning. Learn your markets, double check, and triple check your business plan, and keep focused.
Working for yourself is a fine balance to get right, depending on what you were going into it for. Ultimately, you need to make sure that your belief in the product, the belief in the business, and above all, belief in yourself is a million percent.