Are You A Solopreneur or willing to become one? In this article am going dive deeper into the concept and definition, interesting world statistics, some pros and cons and how should an individual think if they want to become one and my final thoughts on the same.
This article will be useful for folks who want to start a home based business, start-up, or any individual who wants to follows the love of his passion and serve humanity in a more meaningful way.
I have taken the points from different websites such as Small Biz Trendz, Solopreneur Institute, quickbooks.intuit and falicoach hence attributing the same. In this process I have sincerely tried summing up together to make it more interesting and value giving.
1. What Is A Solopreneur?
So let’s first understand what the heck is it? Definitely it’s a combination of two words – SOLO meaning single and ENTREPRENEUR, which means that your an entrepreneur who like to work single or SOLO.
2. Solopreneur Statistics
It’s really tough to find a right job in today’s market scenario. The pay is not great, competition is high, and job satisfaction is low. Hence some of the factors which have taken shape for increase in the trend and newly found word – SOLOPRENEUR. According to moneyinc.com – MBO Partners estimates that there are another 12 million people who are solopreneurs for an average of 15 hours per week. For these individuals, their solopreneur endeavors are a side gig to supplement a full time job. What’s more, solopreneurship isn’t done growing in the United States.
“Be alone, that is the secret of invention; be alone, that is when ideas are born.”–By Nikola Tesla
3. The Three Pros And Cons Of Being A Solopreneur
A. MORE INCOME – Solopreneurs can make more money as they are not splitting profits with partners or affiliates. Any individual who is capable of handling the projects from start to finish will reap the entire awards. On it’s flip side, if they are not, then they have to share with some other co-freelancer or result in a loss.
B. FLEXIBLE HOURS – A definite reason for a rise for this growing trend, is it’s flexible hours. Being stuck in a 9-5 job is a definite NO-NO for these people. But when it comes to work long hours, they will agree simply because they love what they do in their comfortable space. Lots of corporate professionals are expected to work long hours without compensations, this is easily avoidable by a Solopreneur. The flip side for taking off would be the solopreneur will not be paid. As it was choice of the decision he made.
C. DECISION BY YOU – There are times, when the solopreneur is jacked with all the works together at once, where they need to multi-task. Because they don’t have a team to really to bank upon. If they tend to take a different direction, it’s often misleading for there’s no one to mentor or navigate the process of the project. Sometimes inputs from other people in the industry reflects better judgement.
Conclusion – My Final Thought
Solopreneur isn’t for everyone. It’s only for hose capable of navigating the drawbacks, however, might prefer this approach to earning a living. I hope you enjoyed the article which may be helpful enough for you to just know what to expect before you take the leap.
On the positive flip side, even I started my journey as a solopreneur from the year 2016. I had a crazy 3 years going down my memory lane. With all the juggling and willing to stand up against all odds, I stood true to the test of it’s time. How? It was last year 2019 with 3000+ registrants nominated, 250 shortlisted & interviewed narrowed down in 12 categories. An initiative by Brand Avataar and Colors Tamil TV, powered by Sakthi Masala and MAuto. I was awarded Suya Sakthi Awards – Homepreneur Awards 2019 recognizing inspiring women pursuing business from home.
“To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment.”– By Ralph Waldo Emerson
So it’s never too late or too early to build your passion around your dreams, if you truly relate to this, or wanna know more of this and much more, please join my private VIP facebook group – https://bit.ly/2Y9TmwK. And start this beautiful journey together as am on a mission to help 10,000+ women solopreneurs to stand out and shine online through effective visual branding backed up with strategy. Share your comments below if you’re already in…type – YES AM IN!!!!
Hi, This is Pramila Jain, am a brand designer & strategist who helps brands grow by crafting distinctive logos & brand identities, backed by strategy. And am on a mission to help 10,000+ woman soloprenerus to build their brand through great visual branding and digital marketing ideas.