Is your job making you unhappy? Do you want to be your own boss?
You're not the only one!
According to the GEM 2019 Women's Entrepreneurship Report 32.53 percent of the world's population are sole proprietors. That equates to nearly 2.6 billion people!
As you may have already guessed, the term is formed from the words "solo" and "entrepreneur." That said, it's often unclear who exactly qualifies as a solopreneur, as opposed to just a freelancer.
Do you want to know if you can be a solopreneur? Or maybe you'd like to be one but aren't sure where to begin?
In this post, our Miami SEO experts will walk you through the ins and outs of solopreneurship, explaining what the term means and the factors that differentiate solopreneurs from entrepreneurs.
A solopreneur is someone who creates and runs their own business without the help of a co-founder or W-2 employees. Simply put, a solopreneur is an entrepreneur that handles all aspects of their business on their own.
Are you curious about the differences between being a solopreneur and a traditional entrepreneur? It's crucial to emphasize that while all entrepreneurs are solopreneurs, not all solopreneurs are entrepreneurs.
An entrepreneur is defined as establishing and operating their own business. However, they don't manage all parts of their firm independently, as a solopreneur does. Let's look at some of the primary differences between these two jobs.
A person who works as a solopreneur is in charge of every part of their business. They don't rely on others to do a lot of their work. As the founder and the creator of their business, they're also the only ones who make and deliver the products or services that keep their business going.
While solopreneurs may occasionally need a freelancer or contractor worker, they don’t rely on outside help regularly.
It's common for a business to start with one person doing all the work by themselves. Then, over time, entrepreneurs hire employees to do things that help them deliver products and services.
Solopreneurs continue to handle all tasks by themselves.
When you're a solopreneur, you typically start your own business because:
When you have these characteristics, you are ready to start your own business — one that you do not intend to grow. This keeps the company manageable for a single person who wishes to continue running it on their own.
The greater the size of a company, the greater the owner's financial responsibility. Entrepreneurs who have employees ensure their business is profitable enough to ensure that everyone gets paid. This includes making sure things like payroll, benefits, and taxes are considered in the structure of their business.
Solopreneurs, on the other hand, often run their enterprises as a single-member LLC or a sole proprietorship, which are easier to manage and allow the owner complete control over the business.
Many solopreneurs provide a specialized set of services that can be performed remotely. As a result, their workspace requirements are typically low, with only a computer and an internet connection required depending on their field of work.
On the other hand, entrepreneurs may have more complex workplace needs based on the nature of their company. Business owners whose firms manufacture tangible goods will frequently require space to manufacture, store their goods, and give work accommodations for their personnel.
Check out these profitable solopreneur business ideas that you can start on your own and make money without hiring anyone else to help you. You can start a(n):
Start a blog about a subject you know well or look for jobs on Fiverr, Upwork, and other sites that top freelance writers use. When it comes to freelance writing, you can charge by the hour and earn anywhere from $30 for beginner writers to more than $100 for experienced writers.
It's becoming more common for people to work as freelance writers, either for extra money or to become full-time freelancers so they can work from home and on their own time.
The best part about being handy is that there is always someone who needs your assistance. Starting a home repair company is an excellent way to get your entrepreneurial feet wet. This is a low-barrier-to-entry business because it can be created as a single company with little initial investment.
Most people believe that you must have a great deal of building expertise and knowledge to complete everything.
This is untrue.
All you really need is a desire to help others, a desire to work with your hands, and the ability to deal with everyday household issues.
Why not make some money from the things you find at thrift stores? Sell your stuff on consignment at a store or flea market near you, or even start a website where people can buy and sell your things.
You can get money or store credit for your old, out-of-date clothes at many secondhand stores. Almost anything you still have in good condition can be sold at a consignment shop. These shops sell everything from maternity clothes to shoes and handbags.
This is a particularly strong business sector during uncertain economic times, when people are more inclined to use gently used items.
If you're the kind of person who likes to clean and pays attention to the little things, then what are you waiting for? Go start a business that helps people clean their workspaces.
Just take a look at how Marie Kondo, the star of the Netflix show "Tidying Up," has built her business of organizing people's things.
Some people may have difficulty getting rid of things, which is why organizers are frequently called upon to act as coaches.
If you enjoy being outside in nature, this could be your business! If you enjoy yard work and the smell of freshly cut grass, you should consider starting your own landscaping business.
Green up your neighborhood while earning money with your own one-man or one-woman lawn care business.
The landscaping industry is growing rapidly, and if you live in a warm climate, you may be able to work all year. According to the IBIS World Landscaping Services Industry Report, the landscape services industry was worth $105.1 billion in 2021. So, what are you waiting for?
Whether you want to start your own business alone or work with others, Digital Resource is here for you. Our Miami SEO services experts can help you market your business online so you can get more clients.
To find out how we've helped other businesses grow and how we can help your business, contact us today!