UPDATED: June 2022
HOW TO BECOME A SOLOPRENEUR - PART 2
Photo courtesy of cenchild
As a result of questions from my clients on the basic elements of becoming a successful solopreneur, I decided to add this section to help provide more insight on running a profitable business.
WHAT IS A GOOD SOLOPRENEUR DEFINITION?
This combination of two words (solo entrepreneur) is being used more frequently over the past several years. It is indeed a one-person business arrangement.
As stated in Merriam-Webster
"one who organizes, manages, and assumes the risks of a business or enterprise without the help of a partner”
It comes down to the fact that as a solo business owner, you are responsible for all aspects of the business. This goes from concept, to development, to marketing, to accounting, to growth. You are your own boss.
IMPORTANCE OF AN ONLINE PRESENCE
Whether you are looking to develop a brick and mortar store or a pure online business, the use of an online platform is critical today. Everyone is searching by phone, laptop, and tablet to find whatever they want.
You can use existing websites that companies have set up to allow you to market your own products in one way or another. However, as a sole proprietorship, you can present your goods and services and have full control. No-one can make you change because you own it. It is yours!
The best path of a solopreneur is to start with an outstanding online platform and steadily work their way. This will mean that you should examine your skill set and develop new skills with hard work. It means you will become more acquainted with new areas such as:
- Social media management
- Product development
- Digital marketing
- Business operations
- Landing pages
- Graphic designers
- Other areas
TARGET YOUR BUSINESS IDEA
As a small business owner, you would want to fully evaluate your niche to ensure that it is one for which there is a demand but is not overly crowded with supply. You are one of many business owners who want to market their products and services. Fighting against the big guys in a market in which there are too many competitors is not a winning strategy.
It is worth spending the time to find the right niche that provides you the opportunity to win!
You will go through the process of determining the type of business that is best for you. Define your target audience and your potential clients. This leads to evaluating business models that fit your ideas.
PLAN TO SUCCEED
In my view, the best approach to being a successful business owner is to learn from those that have accomplished that feat (a Mentor). I have tried to present a few ideas for you to consider on how to become a solopreneur. I will be happy to have a conversation to understand your goals.
I hope to hear from you soon.