New jargon to describe our ever-changing career options pop up every day. “Solopreneur” is just the current buzzword getting a lot of attention. Never heard of it before? It’s pretty self-explanatory…
“A blend of the adjective solo meaning ‘done by one person alone’ and the noun entrepreneur, which refers to ‘someone who starts their own business and is good at spotting and securing the best business opportunities’.”
This definition I grabbed from a Macmillian Dictionary post from 2013 so it’s practically ancient! Why are we now hearing a huge resurgence of the word? The expansion of available coworking offices, remote working capabilities, and an increased ability to open a business with lower startup costs is leading to the creation of more small businesses. Why wouldn’t you open that custom t-shirt shop out of your house when your entire retail “store” is digital?! Brick and mortar store fronts are not a necessity anymore and it is great to see thousands of new digital businesses blossoming out of unexpected places.
Does it sound easy yet? While opening a business will always take hard work, sacrifice, and dedication, you can do it with greater success (and ease) if you follow a few simple rules from those who’ve stumbled down this road before…
Solopreneur: What Needs To Happen BEFORE You Take That Step
Start Your Business While Still Employed For Someone Else
Changing jobs is a stressful situation on its own, but when you combine that with the fact that you’re starting a job without a guaranteed steady paycheck it can be absolutely terrifying! Don’t do it! Use your free time to build your network, gain followers and/or clients, and hone in on your niche. The more preparation, research, and planning you can do while you have the financial security of a full-time paycheck and benefits, the better!
Broaden Your Entrepreneurial Horizons
Most solopreneurs are experts in their field (which is probably why you would be starting that business anyways). So while you are an amazing painter, tech guru, or “whatever it is that you’re going to do solo”, you are probably not an expert in book keeping, accounting, payroll, marketing, SEO, business planning, etc. There will be holes in your knowledge that can be filled with some extra study. Read. Research. Talk to professionals. Find a mentor and pepper them with questions. Whatever works for you, try to get all facets of your business covered before breaking out on your own.
Stake Your Claim… Digitally
One of the hardest tasks of starting your business? Naming it. You’ll brainstorm for days, think you’ve found it, and then get hit with new inspiration a few days later while walking your dog. Or in the shower. Basically when you are least expecting it. So then you change your mind and run with that idea. Until you look online and realized there is already another Bob’s Bike Shop and then you are back at square one. Take the time to research your name, logo, twitter handle, everything! Get your web domain, LLC name, and whatever else you need locked down before getting too deep into your brand design.
Brand, Brand, Brand, Brand
Once your digital assets are secure, go ahead and brand your self into oblivion! Well, not really. But do take the time to put a ton of thought and revision into your company’s brand. You don’t need clients, sales, or even product to start branding yourself and your business. Start with a website or blog to get yourself “out there” and then build from that point. When your business is finally up and running, people can already associate your brand with that business just from Instagram pictures they’ve seen or blog posts they’ve read.
Focus On “The Now”
It is super easy to get so wrapped up in your dream, that you forget to pay attention to reality. You can miss out on the experience of becoming your own boss if all you do is rush through steps to get to the finish line. Be diligent and take care with every aspect of setting your solopreneur-self up. Each task deserves your full attention even if it isn’t your favorite part of being a business owner. And don’t forget your current job that is still paying all of your bills. You don’t want to burn the bridges that you might need in the future!
Thank you for checking out The Blog @ The Second Floor. We post new content each week so stop back by again soon. Big thanks to Tech.Co (and Lars Schmidt) for the article that this post was based on. Find The Second Floor @ The Paramount on Facebook, follow @paramountsecondfloor on Instagram, and have a fantastic day!