More and more today, people are taking their careers into their own hands. And more and more, people are joining the ranks of the solopreneurs — a business owner who works and runs his or her business alone. But why the rise? And what are the benefits? Today, Ignitia takes a deeper look at the causes and advantages of this growing new class of U.S. worker.
Be your own Boss
It’s the dream of almost all employees: to become the boss. When you are your own boss, you report only to yourself. No one tells you what to do and no one is looking over your shoulder. Many solopreneurs find this the most appealing aspect of the role. But being responsible only to oneself can also be a challenge. With so much freedom it can at times be hard to motivates oneself. However, for those who have no difficulty staying on track, and who are willing to put in the effort needed to build their own brand, being able to be one’s own boss is not something they would trade for the whole world.
As a solopreneur you call all the shots. If something is not working, you can turn on a dime to adjust the strategy. There is no lumbering structure to maneuver and no approval process needed. If you deem a business pivot necessary, you can simply make it happen. In the fast-paced world of startups, this ability to react nearly instantaneously to market demands can be one of the most valuable advantages to being a solopreneur.
Another one of the most attractive benefits of being a solopreneur is the ability to set and maintain your own schedule. If you want to take time off, as a solopreneurs you can simply take it. No approvals necessary. On the other hand, if you want to work 100 hours a week, that too is also your decision. In fact, most solopreneurs do work quite extensive hours. They know it is their dream on the line, and their ambition, so they decide how and when they make it a reality. In recent years, many companies have sprung up to support solopreneur’s needs as well. No matter what your company requires new companies and Saas platforms have arrived to provide the ability to outsource such work so solopreneurs can concentrate on their core tasks and business plans.
Build Your Empire
Finally, though by definition solopreneurs do not have employees and work only for themselves, this does not always have to remain the case. If your company begins to take-off, there is always the option to hire and build out into a more traditional business model. The advantage of being a solopreneur is in the streamlining of the process of getting your business up and off the ground, but once your company is running, there’s nothing that says you can’t build it out further from there. This is the path that many successful companies have already taken. For proof look no further than, Facebook. Mark Zuckerberg began the company working only for himself and built it into what has become the second largest page on the internet.
In the age of working remotely, it is now easier than ever for anyone to start a business from home. Many often do so with the attitude that they can always go back to a corporate job if things don’t pan out, but just many find the process surprisingly enduring as well. So, for those with a burning desire to see their vision come to life, and who have a willingness to take initiatives on their own behalf, becoming a solopreneur may be the right next career step for you!