If you’re looking to follow your dreams of starting and running a business, then you’ve likely considered the solopreneur route. Being a solopreneur means you have the freedom to choose your own path without having to answer to a boss or partner.
But before you dive headfirst into a solopreneur lifestyle, check out this guide for solopreneurs to see if it’s right for you.
Today I’m going to show you how to run your business as a solopreneur without breaking your bank. As we know running your own business is difficult especially when you're new. Statistics show that 90% of new startups fail to run into sustainable business due to run out of money, enter into the wrong market, a lack of research on their product and services, bad partnerships, and ineffective marketing.
I remember when I first started to make a living other than being a 9-5. I’d go from selling insurance to multilevel Marketing trying to understand how being my own boss actually worked. It was super confusing and frustrating.
And in this no-nonsense guide, I’ll cut out all the noise and BS and show you exactly how to start making money to increase your side income. and big enough to fire your boss.
What is a Solopreneur?
What is a solopreneur, exactly?
A solopreneur is a business run by the owner itself. the one individual enjoys the freedom to pick on a project or person as the source of income from their business. In other words, a solopreneur is an entrepreneur who performs all duties related to their business alone.
For example, let’s say a Housewife demonstrates on youtube the correct way for using facial cleansing on the removal of dirt, oil, and other unwanted debris. How does she benefit from being a YouTuber?
she can earn commission through an affiliate program when the viewer can click on the affiliate link and end up making a purchase.
Now that you understand what solopreneur is, it’s time for me to explain more about how to get started with it.
Solopreneur Business Model
Your first step with solopreneurship is actually to understand yourself in terms of personality and passions. you're going to enjoy a better chance of success when you have a better understanding of your personality and the career areas that you would be best suited to.
Because you hating the 9-5 life, doesn't mean you should quit immediately. Instead, you can try to discuss with managers to find ways to redefine your current role or create your own business while keeping your 9-5 job.
Here's exactly how to do it.
First, find Business Idea that is aligned with your passion. The reason behind this is you need plenty much of time and energy to continue to make the first sales. when you're passionate enough about your business ideas, you'll have the determination to not quit. without passion for your work, work becomes a dread.
Next, research the industry and area that you're planning to venture into. is important to find out what the market needs, wants. there are no sales bound to be made when there is no buyer in the market.
The best scenario is you love what you're doing and you're in an industry with lots of opportunities.
Also, check the popular industry that is the choice for solopreneurs to venture into. There are 31.7 million Small Businesses in the United States.
Solopreneur Business Ideas
Finally, let's breaks down the type of business that is run by solopreneurs.
Ecommerce, Retail eCommerce sales are expected to grow to $4.88 billion in 2021. Consumers are used to shopping online for goods and services, and that demographic is only going to grow, so it’s no surprise that solopreneurs love this avenue, too. The popular business model for solopreneur :
- Direct to consumer
- White label and private label
- Subscription service
Consulting services, leveraging your expertise to help clients to solve a problem. use your expertise to provide valuable information to clients for their business decision-making.
Example: social media, strategy, leadership, management, or marketing. The US management consulting services market alone is expected to reach $87 billion by 2025.
Paid Acquisition Consultant
Solopreneur Digital Marketing
Before you get things done, plan ahead before venture into your area of interest. making sure that you are 100% ready to commit to start building your own business from scratch using the spare time you found after the 9-5 routine.
Let's understand the importance of using digital marketing to run a low-budget business.
The most basic point of getting is to start with a website to build your social presence in the digital space. Most of the digital marketer start with a writing blog, the benefit of writing helps to improve writing skill for social media ads, product description that is engaging enough to encourage visitor to purchase.
Most of the content marketing activities are involve writing engaging copies for web pages content, sales page content, email content, social media content.
To cut short the learning curve period, as a beginner to Fiverr provide e-learning courses that are suitable for the busy middle class like you to explore.
These courses are available on fiverr and can be completed by anyone with the desire to learn :
Build A Website
Social Media Marketing
Write a blog posts
Search Engine Optimization
or you want a quick jump start with a blog and website, then you need to get hosting services that help to publish a website using WordPress as content management services. then the next checklist will be to subscribe to email marketing services to grow your audience list.
WordPress is a popular choice among bloggers to host a website with no coding knowledge using a free plugin from WordPress marketplace.
You can use the essential free plugin that come with drag and drop functions to run the website such as:
- Elementor: Elementor Website Builder
- Ready edit theme: Starter Templates – Elementor, Beaver Builder, Gutenberg & Brizy Templates
- Security: Wordfence Security – Firewall & Malware Scan
- Email Marketing: Aweber
Thanks to ‘The Beginner’s Guide to Solopreneur’, you don’t need to spend hours searching for Solopreneur information anymore. You have everything you need to get started all in one place.
As you saw in the guide, generating an extra source of income can make or break your 9-5 dilemma. Without wonder why you're feeling the hate of working 9-5 as your Life Mantra. But when you start with investing in yourself the right way you can break free from the 9-to-5 lifestyle.
Before you start on your venture, make sure to leave a quick comment to let me know what you think of ‘The Beginner’s Guide to Solopreneur’.