The term ‘solopreneur’ is becoming more widely used. A solopreneur is different to an entrepreneur in that a solopreneur generally works in and on their business while an entrepreneur is more focussed on their business. An entrepreneur spends their days networking, gaining investors and looking at the big picture. Solopreneurs spend their days getting their hands dirty and working through their mammoth to do list.
Being a solopreneur means you wear every hat; you are the maker, the accountant, the marketer, the customer service representative and more. There are likely days where you struggle to see the benefits in your chosen career path which is why I’ve created a list of the six reasons why being a solopreneur rocks. Keep this list handy for the days you’re feeling a bit ‘blah’.
Flexibility is the holy grail of work arrangements, especially if you have young children. Gone are the days of asking for permission to attend a doctor's appointment or seek approval for your holiday. Provided you are organised, you can work around your life rather than living around your work.
As a solopreneur, you actually get to keep the majority of your profits. Many entrepreneurs turn over a large amount per year but the amount they pay themselves can be quite a small amount. Solopreneurs can work hard and reap the rewards ASAP.
Many solopreneurs trade time for money (freelancers for example) so to make the most out of your time, you must be creative with it. Solopreneurs can outsource the tasks they’re not loving or particularly skilled at and concentrate on what they enjoy. Similarly, if there’s a way to save time by automating, you’ll find solopreneurs embracing this with open arms. Being innovative has never been so important!
Most solopreneurs only work in a field of interest where many entrepreneurs launch a business for future financial gain. This means most days, you are doing what you love. There’s nothing to sneeze at there!
Not enjoying a certain element of your work? You can pivot to suit your new needs whether that’s adding a new product or service, upping your prices or collaborating to grow your network. You’re able to make decisions with your best interests front and centre.
Entrepreneurs can have investors, business partners or even a whole lot of staff to consider in their every move. Solopreneurs are free in that sense. You can change your website, update your service agreement or implement a new strategy at the drop of a hat. The world is your oyster!
What do you love most about being a solopreneur?
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