With the technological advancement that we have right now, a simple click on our gadget is enough and shopping is done. Bills are paid, food delivered, and daily commute made easy.
Even the world of work is changing. Because of dissatisfaction with conventional jobs, the idea and practice of solo entrepreneurship has been explored, chased, and is getting quite popular.
Macmillan Dictionary defines a solopreneur or solo entrepreneur as a “business worker who works and runs their business alone.” Sounds cool, right?
However, going solo in a business is not a walk in the park. Just like any other pursuit, being a solopreneur has its fair share of bumps in the road.
I talked to some of my solopreneur friends and listed below what they said about the biggest challenges or “trials” they had faced and how they overcome them.
Now, don’t be disheartened. It’s not because they mentioned the hurdle, it’s the only thing there is in being a solopreneur.
Remember the maxims? If there’s a cross, there’s also a crown. With pain, there’s gain.
Here are their stories:
Building the Brand
“As a solopreneur, I had to work from the ground up to build my brand value. I have an online store offering goodies and encouraging intentional parenting. We only promote and sell products in our store that we ourselves would use in our family.”
What I did was to “Reach out and connect with like-minded parents and mompreneurs. This has helped me send my messages across.”
Lack of Support
“Being an entrepreneur is really not an easy calling, most especially for solopreneurs. You make business decisions on your own. In terms of capital, there are also limited resources since there’s no business partner who can help in financing. For start-up solopreneurs, it can be physically tiring too; being hands-on in production, packing your own products, delivery, bookkeeping, and a lot more when starting out.”
Finding an outside support system would be very helpful, like, a coffee date with a friend, dinner date with the spouse/loved one, or maybe a simple conversation with a family member.
Knowing you have these people to back you up and being able to open up yourself to them, will not only maintain your sanity. It will also refresh your vision and goal as a solopreneur.
Lack of Personnel
I get only limited bookings due to lack of personnel.
“Decision-making is very stressful for it can instantly turn things upside down. Physically, it’s (being a solopreneur) very exhausting due to multitasking, that is, actual operations, marketing, client meetings, post-production, and the like.”
To overcome this problem, I “started offering partnership program to co-event suppliers. These include fast food chains, venues, and event organizers. I have my wife involved in decision-making to maintain check and balance and to avoid loopholes in every transaction made. I hire some students to do part-time job with my business since these happen mostly on weekend basis. This aids them in their financial needs, and helps me a lot because now we can handle multiple bookings in a single day. Win-win!”
Building the Business from Scratch
“The biggest challenge when I was starting up is building the business from scratch; no co-founder, no employees.”
When you’re starting a business, often there is no structure and you tend to do everything alone. There is no check and balance.
“I believe that finding a mentor will help a lot. Your network is your net worth. Since you don’t have an organization of your own, this is the best way to go. From your networks, you can find suppliers, or you can outsource the tasks that you cannot do anymore without hiring employees.”
These solopreneurs have come to try solopreneurship. They have faced and seen the challenges unfold right before their eyes. The story didn’t end there, though. They have also conquered!
Being a solopreneur may be daunting at first. There may be challenges, hurdles, and obstacles. But with the right perspective, determination, and direction, I believe that success can be achieved.
Solopreneurs, you can do this!