23 Jan 5 Reasons Why Being a Solopreneur is on the Rise
You’ve probably heard the term “solopreneur” being thrown around in recent years. A solopreneur is an emerging term that means “an entrepreneur who works alone and runs their business single-handedly.” What sets the solopreneur apart from the entrepreneur is that while the entrepreneur may be fully responsible for the day-to-day operations of their business, they have workers, versus the solopreneur, who does not.
Why now is the time to be a solopreneur
Many may have been inspired to get their solo starts following a layoff, or somewhat similar event that leaves someone looking for an income quickly. In these cases, individuals may be looking for something other than just another job. They are seeking something secure and where they are in control. More simply put, being their own boss.
In other cases, individuals may have made the move for personal, career, or family goals. Being a solopreneur significantly opens up time to be spent with family, given that small businesses often get their start being run from home. Business opportunities also appear more attainable with shifts in the way we share media, especially with the rising popularity of the modern American dream: the start-up. On Twitter, the term solopreneur can be seen in user bios more oftentimes than not.
Leading advantages of being a solopreneur
There are a solid five reasons as to why being a solopreneur is the new trend.
1. Selectivity: You can work on what you like, with who you’d like, and when you’d like. If you’re running a B2B operation, you don’t have to continue with that a particular client or customer again if you don’t choose to.
2. Flexibility: A great factor of being a solopreneur is that you can choose your office space and hours in which to work. This advantage serves significantly well to different personas across the board. For example, it’s convenient for stay-at-home moms that have time during the school day, individuals looking to earn extra money, or even employees in corporate America, looking to generate a side income and just to get their feet wet in running their own business.
3. Speed: In conjunction with flexibility is speed. When you make a decision, it’s done and implementation can begin as early as the same day. You are the boss. This advantage gives you a significant lead time when determining your company’s goals, and the strategies needed to meet those goals. When being a solopreneur, efficiency is dependent upon you. Last-minute opportunities can be taken on and reacted to quickly, which is great.
4. Control: There are no internal politics or egos that are usually associated with companies that have significant numbers of workers or are run by multiple large personalities. In a solopreneurship, there is no internal selling, swaying, or persuasion required for your idea to be implemented.
5. Creativity: This is the fifth, last, and probably most coveted advantage. Creativity is endless and unrestricted on ideas—whether it be marketing pushes for your company’s exposure or which projects you choose to take on. Your decision is what counts in a solopreneurship.
While this is not a definitive list, you can bet the concept of the solopreneur will become increasingly more prominent in years to come.