“Solopreneur” isn’t a new term, but it has surely become more popular nowadays. This world looks and sounds similar to “entrepreneur”, but their meanings are quite different. That’s why it is necessary to understand the solopreneur definition, and we’re ready to provide you with more information.
Who is a solopreneur?
Let’s start with a Macmillan dictionary. It says solopreneur definition is a business owner who runs their business without a team. Sometimes it is hard to find differences between this term and entrepreneurs because different people have various reasons for working alone. Somebody is going to build a huge business, but don’t have enough money or opportunities to gather a team. However, there are also people without such plans. They’re called solopreneurs. They run a business single-handedly not because of necessity. This is their conscious choice, dictated by an entrepreneurial mindset. They don’t generate jobs for other people, but that doesn’t mean they can’t provide them with work. For example, a freelance SEO-manager may collaborate with a copywriter, and a freelance copywriter can attract designers for different projects.
Nowadays there are a lot of definitions of trends in business, and it is essential to understand not only the concept itself but what is behind them, their pros and cons.
Being a solopreneur: pros and cons
There is one important thing you may underestimate planning to become a solopreneur. It is stress. On the one side, it isn’t as big as we can imagine: you work alone, you don’t take the responsibility for other people, but then you have all the responsibility for you. But if you don’t bring in the business, you don’t receive any money. It may be considered to be an advantage and a disadvantage at the same time. Not everyone is ready to forget about stable paychecks from an employer.
But there is the other side of the coin. The more you work, the more money you make. And a lot of solopreneurs admit that they love this sense of control.
We can highlight such advantages of being a solopreneur:
- You have a flexible schedule;
- You can create your own destiny;
- There’s no limit to the earnings;
- You can work anywhere;
- You experience adventure every single day.
And a few drawbacks to contrast:
- Your projects rely on you only;
- You work every day without days off and holidays;
- You cannot shift responsibility to other people;
- Sometimes you feel lonely;
- It’s difficult to assess the situation from different sides alone.
Thus, one can go on and on. For every argument “for”, there is an argument “against”. That’s why this business style suits a certain category of people. Check if you are among them!
Who can become a solopreneur
Entrepreneurs and solopreneurs have a lot in common. For example, to start your own business, you need to assess your talents and opportunities adequately. It is important to define your vision, values, to stay focused on them.
Solopreneurs are able to plan ahead. They’re self-motivated and don’t need someone who will pick the right words for them. They know that discipline is more important than motivation, and follow it. If you’re going to become a solopreneur, work on your calm and cheerfulness. Things will not work out right all the time, and you should be prepared for that.
Life of solopreneur is continuing education. You can attract professionals for different projects, but most of the time you’ll be your own head, marketer, secretary, financier.
Where others see problems, good solopreneurs see challenges. Therefore, their efforts pay off, and the business becomes successful.