Is 'solopreneurship' for you?

Armando Bartolome

Posted at Jun 12 2021 04:42 PM

Is 'solopreneurship' for you? 1
A merchant associate for a financial technology company works from his home in Quezon City on March 18, 2020, amid the enhanced community quarantine for the whole of Luzon. Mark Demayo, ABS-CBN News

A solopreneur is a different kind of entrepreneur. An entrepreneur is concerned about company growth and expansion with the help of a team in creating the products and services. 

A solopreneur is concerned with creating ideas, nurturing them, and doing everything to succeed with the business that he/she built singlehandedly. 

The pandemic has forced many to build their own businesses. Many also realized that even if they can go back to their jobs, having a business means additional income for the family. 

However, choosing to become a solopreneur is not easy. One will surely face challenges along the way.

Solopreneurs may refer to the following individuals:

Mompreneur 
Women have never been empowered as it is today. They are no longer confined to daily house chores and taking care of the family. Many become businesswomen while staying at home.

Propreneurs
These are retired professionals who still want to continue working even in their 60’s such as those who are involved in consulting.

Homepreneurs
These are individuals who rather work from home than commute to the office.

Webpreneurs
Experts and trainers have become in demand these days. The pandemic has made it possible to continue making money by working online. Thus office training is still given to employees via video conference. 

Sidepreneurs
These are individuals who still have their 9 to 5 jobs but still prefer to have a side hustle to generate more income.

Examples of Solopreneur

The Digital Age has opened several opportunities for us to build a business on our own. These are just a few examples:

Blogger/Vlogger
Who would have ever thought that by just sharing their thoughts and experiences, a great number of people would follow these bloggers, bloggers, and influencers?

Virtual Assistant
People can now work online providing customer service to the US, UK, and Australia. You can do tasks in the comfort of your own home and be paid on a per hour or per-project basis. 

Social Media Manager
One of the most indispensable tools today is the internet. A social media manager can harness the virtual presence of the business to gain more customers and increase revenues.

Graphic Designer
Everyone needs a graphic designer for their business, school requirements, or certain events. 

Tutor
“Home teachers” can be paid on a per-hour basis. As long as you have the patience to teach and have a vast knowledge of certain subject matters, this can be a reliable source of income.

Disadvantages of Being A Solopreneur

Being a solopreneur means you having to deal with everything on your own. You do not rely on anyone else. Your focus is on your personal growth and on improving your skills. 

Another huge challenge of being a solopreneur is burning out. Since you do all the tasks on your own, there might come a time that you feel uninspired because of exhaustion.

An entrepreneur can get ideas and suggestions from a team. A solopreneur does not have this luxury. If you have an idea, you have limited outside opinion and there are no coworkers that you can brainstorm with. You would need to do more work by researching and looking for others who can give their opinion or advice.

Should you be a solopreneur or an entrepreneur?

Before deciding what you want to be, you should write down all the pros and cons of what you have in mind. Set up your short-term and long-term goals so that you have a better idea of what path to choose. 

Most solopreneurs have these innate skills they want to use to start a business. An entrepreneur wants to provide products and services which the market demands with the help of a team. 

If you think that you can build a business without having a team to rely on, then go for the challenge. Just remember that you aim to create a better future for yourself and your family. Choose the one that can make that happen and make you happy.

There are actually many benefits in going into business for yourself – from having a flexible schedule to complete independence in operating your business. 

However, working solo will not always be smooth and its downsides are unavoidable. Thus, it will involve knowing your limitations and devising a plan on how to overcome these challenges to become successful with them.

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For more information, you may contact Armando "Butz" Bartolome 
by email: business.mentor@butzbartolome.com
FB Page: Butz Bartolome
website: https://www.butzbartolome.com