What is a Solopreneur?
A solopreneur is an entrepreneur who works alone. A Solopreneur utilizes their own personal skills to operate independently (by themselves) while often utilizing other independent contractors for business support. Solopreneurs are becoming more popular with the growth of technology, the internet, media, and the variety of specialization of work and skillsets that can be offered individually. The market for solopreneurs has grown and many are taking advantage.
Skills Needed to Succeed as a Solopreneur
Entrepreneurs are unique individuals. They need to possess both a vision for opportunity and the ability to see the vision from start to completion. The variety of skills includes perseverance, motivation, hard working, risk tolerance, and resilience. The key difference in skill set between an entrepreneur and a solopreneur is the ability to operate alone. Solopreneurs will face more times of loneliness and challenge without as many to encourage them on with their project, vision, or business. If the business fails they are the only true stakeholder. In contrast entrepreneurs may have other investors, partners, or stakeholders who will have an interest in the projects success. Leadership and motivation of others are skills that are key to most entrepreneurs, that might not be as critical for a solopreneurs.
Solopreneurs must have:
- Business knowledge – the ability to operate a business successfully.
- Niche-Specific Knowledge – the operational technical knowledge of the chosen service or product.
- Media, Internet, & Computer skills – the majority of solopreneur jobs are dependent on these skills.
Idea Generation for the Solopreneur
The main questions to ask yourself when brainstorming business ideas as a solopreneur are:
- What are my passions & interests?
- What skills do I have right now?
- Is there a need / market for a service or product within that broad market?
- Research that broad market and find a niche within that market.
- Develop a solopreneur business plan.
- Develop any skills necessary to excel at that more narrow / specific niche.
- Launch your business.
Solopreneur ideas are different from standard business ideas in that they are usually geared around push ideas as opposed to pull ideas (see the blog for more on push vs pull ideas).
There are lots of business models, monetization strategies available to a solopreneur.
For a list of Online Business Ideas click here.
For 14 B2B Business to Business Solopreneur ideas click here.
Here is a list of internet businesses where solopreneurs can offer their services as freelancers:
- Demand Studios
- Simply Hired
Solopreneurs face many challenges in addition to the demanding skillset, flexibility, and risks of working solo. In addition to these challenges the economy and global market for work make it challenging to compete. Individuals from around the world often offer lower quality services for less decreasing the demand for jobs and projects. If you are seriously considering a job as a solopreneur do your homework. Make sure you test the market and find a way to DIFFERENTIATE. Make your services different and attractive. For more ideas on differentiation strategies click here.
Will you be the next solopreneur?
After assessing your skills, interests, and resources, researching your market and making a plan, commit to your goals as a solopreneur. Nothing worth doing was ever easy and for those who succeed more daily satisfaction and freedom can result. Let us know (by email or in the comments below) how we can help you succeed as the next solopreneur and how to provide more solopreneur ideas.