Nowadays, the way we work has changed a lot. The concept of “job security” as it used to be long gone.
Everything is constantly changing, and the key is to adapt.
This is how the concept of “solopreneur” began.
What is a solopreneur? Have you ever considered this possibility? What exactly does it provide? What does a solopreneur do? How much does he earn?
This is what we will talk about in this article.
Table of contents
What is a solopreneur?
A solopreneur is a person who works for himself without having employees. It is someone who, like an entrepreneur, creates and manages a business, but shares the tasks and responsibilities with himself.
I like to say that a solopreneur is a freelancer “on steroids”.
That is, just as a freelancer manages his own business, so does a solopreneur.
There are just a few differences between a freelancer and a solopreneur.
What is the difference between a solopreneur and a freelancer?
Conceptually, a freelancer is a person who earns money by providing services and otherwise goes about his life in private.
Oftentimes, freelancers take on a few projects or tasks (just as if they had separate jobs) and maintain their activity there.
- has an entrepreneurial spirit
- he create his own personal brand
- he gets recognized by people for what he does
- develop their own offers
- they also focus on growing their own image and business, not just growing other people’s business
- he gets involved in various projects just like a freelancer but comes forward more often
- creates content about his field of activity
Both the solopreneur and the freelancer are somewhat their own bosses. Both have flexibility in managing their own time and activities.
However, a solopreneur, unlike a freelancer, can also provide B2C services, not just B2B.
That is, they create their own service or product that they promote and sell to a target audience.
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How the solopreneur activity works
Think about how you handled tasks in the past: how you coordinated a project, how you solved a complicated problem, how you learned a new skill.
Every such experience involves an adaptation. Maybe you’ve always been told to work in a team and rely on others. But when you find yourself in the role of a solopreneur, you realize that the reality is a little different.
Darwin’s words, “The one who survives is the most adaptable to change”, also fit in this context. A solopreneur must constantly adapt to changes in the business environment in order to survive and thrive.
Consider Elon Musk, who revolutionized the auto industry with Tesla. It has managed to do this by constantly adapting to technology and market demands. He understood that adaptation means changing to fit the environment in which you live.
Many people hesitate to become a solopreneur due to fear or lack of self-confidence. But if you refuse to adapt to new trends, you get left behind. Becoming a solopreneur isn’t just about making money, it’s about constantly adapting, learning, and evolving.
It’s about constantly creating and improving your lifestyle and your own systems.
“It’s not about being right, it’s about being open to learning from every experience. There is no failure, only feedback.” – Mel Robbins, solopreneur, author and motivational speaker.
Let’s think about it: when was the last time you did something that was out of your comfort zone? When have you tried to do something completely new, only to adapt to the changes around you?
If your answer is “a long time” or “never,” then it’s time to seriously think about it and take action. Becoming a solopreneur could be just the first step to a life full of adaptation, learning, and evolution.
Of course, becoming a solopreneur can seem like a daunting task. You may imagine that it involves doing everything on your own, facing a ruthless business world without any help. But to think so is to ignore the power of adaptation.
Let’s take the example of a solopreneur who opened a coffee shop. He didn’t wait for customers to come naturally, but adapted the business model, learned about online marketing, created an attractive website, optimized the menu, and implemented a home delivery system. Adaptation was key to its success.
It is exactly the same with you. You don’t need to be knowledgeable in all areas. What really matters is your adaptability, willingness to constantly learn and develop. Being a solopreneur isn’t about doing everything yourself, it’s about finding smart ways to delegate, use technology, and connect with the right people.
Also read: What skills do you need to be successful?
Another myth about solopreneurship is that it’s a lonely road. But the truth is, even though you’re alone at the helm, you’re surrounded by a whole community of other people who are in the same situation as you. Also, you can always make new partnerships with different solopreneurs or even entrepreneurs and prosper. There are plenty of networks, support groups, and resources available to help you navigate this road.
“As a solopreneur, you don’t have a big team around you, so it’s important to surround yourself with supportive people. Create your own support team.” – Natalie Sisson, entrepreneur and author
And, you guessed it, to take advantage of these opportunities, you need to adapt. You need to share your experiences, ask for help when you need it, be open to feedback and collaborate with others.
Adaptation is the essence of solopreneurship. It’s not just about having your own business or doing things your own way. It’s about understanding that the world is changing and you have to change with it.
To be a successful solopreneur, you must be an eternal student, an eternal innovator, and most importantly, an eternal adaptor. If you don’t adapt, you stop. It’s that simple. And when you stop, you lose your potential to succeed and create something lasting.
So, think: are you ready to become a solopreneur? Are you ready to take risks, constantly learn and adapt to the rapidly changing business environment?
If the answer is yes, then congratulations. You’re about to join a new generation of entrepreneurs who adapt, learn and evolve with the world around them.
What are the advantages of being a solopreneur
There are many advantages to being a solopreneur, and I think the most important of all is freedom.
You have freedom and flexibility: you are your own boss. You make your schedule how you want. Depending on your field, you can work from wherever you want. You have the freedom to choose who you work with and make decisions as you see fit for you.
You are in control of your business.
Compared to an employee whose work brings profit to the company, as a sole proprietor all the profit goes directly to you. You never have limits on how much you can earn. You can expand into different areas in your field and invest and have multiple sources of income from what you do.
You have the satisfaction that everything you create is truly yours. You get satisfaction when your business grows and evolves.
You have constant opportunities to learn by doing.
It is often much less expensive than starting a company.
You do what you love and you do it with love.
What are the disadvantages of being a solopreneur
First of all, the full responsibility of the business falls on your shoulders. This can become overwhelming and lead to burnout if you don’t take care of yourself.
Then, your income can be unpredictable, especially in the early stages of the business. There is no security of income as there would be in a traditional job.
Sometimes it can be overwhelming to have a balanced lifestyle because you can have a lot of work.
It’s quite easy to get into the burnout stage.
You must always be aware of the new trends in the market, especially the technological ones that are always evolving and changing.
You have to strengthen your character to be able to deal with pressure, negative thoughts, stress.
How much does a solopreneur earn
It depends on a multitude of factors, including the field you operate in, your experience, how much time and effort you invest, and of course, how well you adapt to change. Some solopreneurs earn only a few thousand euros a year, while others end up earning hundreds of thousands or even millions.
How you can become a solopreneur
The first step is to identify a business idea that aligns with your passions and skills. Next, you need to make a solid business plan that gives you a clear picture of what you want to achieve. Then you need to register as a business and start building your brand.
PRO TIP: Your passions or business idea won’t necessarily bring you clients. You must ensure the following 4 important aspects, especially in choosing the right market:
- there is pain/problems/needs in that market
- the target audience you choose has purchasing power (ex: for nothing you want to sell something expensive to a student who has no money)
- it’s easy to reach your target audience
- the field in which you work is constantly growing (ie you won’t run out of “bread” in 5-10 years)
But most importantly, to become a successful solopreneur, you must be willing to continuously learn and adapt to change. It’s a long road full of challenges, but also endless rewards.
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What examples of solopreneurs do we have
- Personal development consultants
- Authors and writers
- Digital content creators
- Professional photographers
- Fitness trainers
- Nutrition Consultant
- Graphic designers
- Programmers and software developers
- Travel bloggers
- Vloggers on YouTube
- Yoga or meditation instructors
- Business consultants
- Web designers
- Life and career coaches
- Translators and interpreters
- SEO Consultants
- Specialists in social media advertising
- Event organizers
- Make-up artist
- Fitness coach
- Real estate consultants
- Online course creators
- Entrepreneurs in e-commerce
- Online tutors
- And so on…
Ultimately, solopreneurship is a journey of self-discovery, learning and adaptation.
“Being a solopreneur doesn’t just mean building a business, it means building your life.” – Oprah Winfrey, television host, producer and philanthropist.
It’s about taking control of your own life and creating something that is truly yours.
If you are ready to take on this responsibility, then you are ready to become a solopreneur.
And that’s exactly why I’m waiting for you to join my “Solopreneur in Expansion” newsletter.