What Is a Solopreneur? (And How to Become One)
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These days, it’s increasingly possible to become your own boss. For many people, doing this means becoming a solopreneur. But what is a solopreneur?
The term solopreneur is a combination of solo and entrepreneur. Put simply, it’s a person who runs a business by themselves. They’re both the owner and sole employee of their business.
Want to learn more? Keep reading to find out exactly what solopreneurs are, how they differ from entrepreneurs and freelancers, and how you can become one.
Types of Solopreneurs
Solopreneurs can run many types of businesses. The key characteristic is that a solopreneur runs their business independently, without the help of other people.
People working online in content creation, web development, or ecommerce can be solopreneurs. So can others who offer their services for hire, such as carpenters, gardeners, tutors, proofreaders, and editors.
But how is a solopreneur different from other job titles, such as an entrepreneur and freelancer? Well, there are unique distinctions that are useful to keep in mind.
Entrepreneur
An entrepreneur is anyone who starts their own business. They have a unique idea, product, or service, and they market it to consumers. They manage their business and take responsibility for its success.
An entrepreneur may hire employees or utilize the help of other people or companies to offer a more diverse suite of products or services.
In short, all solopreneurs are entrepreneurs, but not all entrepreneurs are solopreneurs.
Freelancer
Freelancers are self-employed. They deliver their own products or services per job or under a contract.
Companies or individuals can hire freelancers to complete a given project, provide a specific service, or create a certain product. After the work is done, the freelancer moves on to their next job or client.
You can think of freelancers as solopreneurs, but a distinguishing feature is generally the number of customers each professional has. You can define freelancers as contractors with a small client base. Once the business grows to a certain size, the person running it becomes a solopreneur.
Although some freelancers become solopreneurs, not all solopreneurs are freelancers.
Benefits of Becoming a Solopreneur
Running your own business has many perks. Peace of mind can come with doing things yourself and not having to deal with partners or employees.
The benefits of being a solopreneur include:
- Freedom to work when and where you want
- Greater autonomy regarding the work you do
- No partners or investors to consult
- No employees to pay
- The ability to set your own compensation
- Lower costs for equipment, office space, etc.
Required Skills
Successful business people often have certain personality traits that help them succeed. The same is true of solopreneurs. Several skills and attributes will help a solopreneur make the most of their chosen business, including:
- Passion for the work you do
- Self-motivation to learn and grow your business regularly
- Organizational skills or tools to keep track of your calendar, clients, and other details
- Resiliency from rejection
- Open-mindedness and adaptability when dealing with change
How to Become a Solopreneur
If you’ve decided you may want to become a solopreneur, you should take a few valuable steps to help you on your journey.
1. Do Your Research
First, make sure there’s a demand for the product or service you want to offer.
Next, consider whether you have the skills needed to reach your business goals. For example, if you want to start a proofreading and editing business, strong spelling and grammar and attention to detail are essential skills. If you need to develop your skills in a particular area, online learning is a great, flexible option.
2. Write a Business Plan
Once you’ve decided on a business to launch, a business plan can help you:
- Determine your goals and how to reach them
- Identify your target audience
- Identify your competitors (and learn from them)
- Plan your marketing strategy
- Plan your budget
3. Consider Your Branding
Branding is the process of creating an identity for your business. Your branding will determine how potential customers perceive you and your products or services.
As a solopreneur, you’ll need to consider the following carefully: your business name, logo, visual design elements (e.g., using a consistent color scheme and font across all your marketing materials), mission statement, and tone of voice.
4. Have a Marketing Strategy
A marketing strategy is a detailed plan of how you intend to promote your business and reach your target audience. It’s a good idea to ask yourself some initial questions:
- What are my business goals and objectives?
- Who is my target audience?
- Why would a consumer choose me over my competitors?
- What is my budget for marketing?
- What type of content will I create? Where will I share it?
- How will I promote myself to potential customers?
5. Review Your Progress
You need to be prepared to learn from your experiences and adapt as necessary. Always be open to new opportunities.
As your business grows, it might change beyond your original vision. Examine any new direction and adjust your goals as needed.
Solopreneur Opportunities
While building your own business solo might seem daunting, it doesn’t have to be. One exciting opportunity is creating an editing or proofreading business. If you’re interested in doing so, we have courses that can help!
We offer comprehensive course modules on the basics of editing academic, creative, and business writing. Even if you have no prior experience, you can learn everything you need to get started.
There is even one-on-one tutor support and guaranteed freelance work to help you take the next step in your career. Sign up for our free trial and begin your journey to becoming a successful solopreneur.
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