Succesful Solopreneur

What is Solopreneur?

Although many start ups or new businesses beging with the intent to grow the company, hire employees and create equity in the organization, there is another choice available to those who prefer the concept of creating a business where they are the sole owner, shareholder, employee and beneficiary of the equity that is generated.
is calle Soloprenuering.

The objective of these "Solopreneurs" in growing their business is not to hire employees, but rather to expand their passions, talents and abilities to a point where they can create a prosperous livelihood simply doing what they love to do.

But the question is simple: would you prefer to be a solopreneur, rather than an entrepreneur? How does your business work, how do you manage different clients, responsibilities, etc, being a single founder, possibly with no other persons to help you with the tasks? And also, ask yourself if it's convenient being a solopreneur in the first place?

Pros if being a Solopreneur

Being a Solo-Preneur provides a good amount of attractive pros; low overhead, lots of freedom, ability to choose where you work, no employee hassles, no dress code, no boss and full fees. These and many other pros entice a significant amount of people to fly solo or at least to consider it. I have spoken to a few professional women who have often talked about how easy and apparently less stressful the idea of going solo would seem. Not having to deal with employee issues, hiring headaches and training new recruits seems like a much easier path. In many ways this is true but it is only true for a small group of very independent mavericks who tend to thrive on their own.

Cons of Solopreneuring

Along with a good number of benefits, going solo has an equal amount of possible cons; no steady paycheck, limitless distractions, possible isolation, taxes, administrative tasks, start up costs, lack of feedback and lack of support. Many people who excel as individual professionals in an office foolishly believe that they can go on their own and have the same work load but gain the benefit of keeping 100% of the profit. This is partially correct but it is also true that in addition to your regular workday as a solo professional, you will have many other tasks to handle as well. Bookkeeping, supply purchasing, technical support, billing, administrative tasks, emptying the trashcan are all now in your hands. There is a big difference between being a high performer in an office with administrative support and doing the same thing on your own. To be a solo operator and not see yourself as a business owner but rather as simply a soloist is the kiss of death.
It's takes hard work !.

Here are some tips to keep you afloat!

Become a Guru:

The word guru, meaning "teacher," comes from the ancient Indian language of Sanskrit. Study, practice, become skilled in your craft, perfecting it.
Before you can become a guru, you need to be taught by a guru of your own.
You don’t have to be the best at what you do. But you do have to position and market yourself better than anyone else.


Keep your overhead costs very low :

Keeping overhead under control is a good reason to stay in a home office or other startup space as long as it permits. Do Not Allow Overhead Cost Drain You Financially.
Market through networking. Not only is networking the most effective means of marketing it is also the cheapest. Keep your overhead costs low by attending as many free networking events as you can.
Target your direct mail as much as possible. You don't want to pay to fill up someone else's recycling container.


Hire an assistant

OK, so this isn’t exactly a “Solo” idea but it is an excellent path for many micro operators and has several benefits. First of all, it allows you to focus your work on “money activities” and to funnel the lower level tasks to your assistant. I'm happy to I join the Canadian virtual association. If you intend to be a big fish without hiring full-fledged specialists, the best bet is to hire one or more assistants who can support you in accomplishing more.

Be a lover of Twitter, Facebook, Linkedin, microblogging and Social Media:

As solopreneur have no intention of letting technology get the best of yours. "It's an exciting world out there. You just need to believe you can accomplish whatever you're willing to work hard for."

It's tough. I started my first company on my own, had a sales pals for a while and a few coders on contracts as well, but as a mainly solo gig it's been tough to balance all the tasks you need to do. The tasks that tend to suffer the most are the business and promotion sides of things. It's fortunately been able to stay at a steady pace for a long time on almost no promotion, just word of mouth, but I'm sure that first start up with another solid partner it could have gotten a fair bit bigger by now.

When started my first startup solo a couple years ago, the combination of running my other seond project company by day (splitting my time) and being the only person to do everything certainly factored strongly in its early demise. Got to about 10,000 users but couldn't take it to the next level because there was simply not enough time in one day.

My second and most succesful startup is a partnership, and while I'm still splitting my time with my main company and I'm also the only programmer, it's been way better because it's two and not just one of us. After these experiences, I'm now definitely sold on solopreneurs recommendation of having more than one founder. The key still is to find the right co-founder, but I think unless you want to work 16-hour days (which isn't sustainable!) then you need 2+ people involved.