Do you crave the ability to call the shots in your life both personally and in business? If so, you might be a solopreneur in the making. If you have not heard that term before, do not worry. It is a somewhat new way to define a person who not only owns a business but operates I too. Though entrepreneurs and solopreneurs are hardworking individuals who are always forward-thinking, there are distinct differences between the two.
In this article, we will outline what it means to be a solopreneur and help you to determine if being one is the right move for you. If you do not have a clear vision of the business model in which you plan to operate, consider reaching out for guidance. An experienced solopreneur coach can help you to better understand what it is you are looking for and provide you with guidance in operating a business that is authentic to you.
What is a Solopreneur?
We have all heard of entrepreneurs and typically associate that word with anyone who owns and operates a business. It can be an overly broad term to describe individuals who own one or many businesses. Examples of an entrepreneur can be a person who owns a restaurant but does not work in it or someone who owns a store but has employees that carry out day to day operations. Entrepreneurs may also still work at their businesses too.
What makes a solopreneur different from an entrepreneur is that a solopreneur is both the person who owns and operates the business, typically without hiring any other staff members or having very few people they work with. Solopreneurs and entrepreneurs may be similar in many ways, but generally solopreneurs value their independence and ability to run a business without needing too much assistance from others.
Qualities of a Solopreneur
Understanding the difference between a solopreneur and an entrepreneur can be tricky. They often sound like the same thing, and in many ways, they can be. But what truly sets solopreneurs apart from entrepreneurs is their mindset.
Many entrepreneurs have big dreams that include multiple store locations or franchises, many employees, or even having the ability to run an entirely hands-off business. Though these are all wonderful things to aspire to, these values and goals are often not the focus of a solopreneur.
Unlike entrepreneurs, solopreneurs are focused on doing their thing and keeping it simple. This does not mean that they do not wish to have great success. It just means that their definition of success looks a bit different than the typical entrepreneur’s. Solopreneurs value being in control of their business from start to finish. They enjoy making a product or providing a service and want to be the person who does the work.
Qualities of a solopreneur include:
- Self Sufficiency – solopreneurs do not rely on anyone but themselves. They want to take control of their business and be responsible for every aspect of the operation. From making the perfect product to providing their clients with superior value, they do it all themselves.
- Motivated – solopreneurs are not waiting for their big break; they are making the dreams of being a business owner and operator a reality. They are motivated by their own success and are driven to keep propelling it forward.
- Hardworking – solopreneurs do the work. They are always working hard and are not looking to offload much of their workload to anyone else. They know that working hard brings them results and that is their focus.
- Self-focused – a solopreneur is not concerned with having their name on a huge billboard or having hundreds of employees. They are focused on doing their own thing and being the only person they need to be responsible for.
Solopreneurs often have a different vision of success than the traditional entrepreneur. For a better understanding of how to define success see our previous post “How Do People Define Success.” Use it to guide your own definitions of success to better understand if you are a solopreneur or an entrepreneur.
How to Become a Solopreneur
Becoming a solopreneur is as easy as starting and operating your own business. As solopreneurs work for themselves, they often provide a service or make a product. Some start small and build a business over time while others simply dive straight into running an entirely solo business. But you can be a solopreneur in any type of business, so long as it doesn’t mean taking on countless staff members.
For guidance in starting your own business see our article “Tips for Starting Your Own Business.” In it, we provide pointers on what you should consider as you start your own business. Remember that there is no right or wrong way to be a solopreneur, it is your business and you call the shots! Being a solopreneur means that you have a streamlined focus on you operating your own business.
Does Being a Solopreneur Mean I Can’t Ask for Help?
You might be wondering if being a solopreneur means that you cannot ask others for help. Though it is true that a solopreneur is the backbone of their business, it is false that others cannot be a part of your journey. In fact, it is important for solopreneurs to have a network of professionals they can rely on for both advice and support.
Many solopreneurs outsource some of their workload to contractors when they can’t do it all. Others need support to stay on track and build the business of their dreams. Just like with anything in life, having the support of those around you is crucial to success.
If you are a solopreneur you should not feel like you can’t ask for help when you need it. Instead, you should embrace the support of those around you and look for the help of those that can lift you up. Consider reaching out to a business coach to help you meet your goals while always staying true to your principles.