Today’s post is from our regular Wednesday contributor, Cat.
If you’ve heard the term “solopreneur” but weren’t sure what it meant, here are all the deets:
A solopreneur is someone who handles all the aspects of their business on their own. They are in charge of the products, the paperwork, the marketing, billing, etc. etc.
Some solopreneurs hire contractors but in essence, they handle everything themselves. I consider myself a solopreneur because I don’t have another person taking care of my taxes or doing my billing for me. I am responsible for everything for my small business from seeking out new clients to designing my invoices. I also handle my own advertising, post writing, etc. There are times when I hire out certain tasks but the majority of the time it’s just little ol’ me, and I actually really like it that way.
The Pros
The best part of being a solopreneur is hands down being in charge of your own destiny. At this point in my life, I need as much flexibility as possible. Even if I worked from home for a company there is no way my current schedule would be steady enough to make that possible. Some days, as a solopreneur, I get tons of work done and other days I have two babies that cry nonstop and absolutely nothing gets done except holding one of them in each arm all day long. Luckily I still have nights and weekends when my husband is home to try to get a few things accomplished, but for this point in my life, being a solopreneur is the only way for me to “have it all.”
The Cons
The biggest con with being a solopreneur is that you really can’t focus on the things you love best. When you are in a traditional job, you’re typically hired because you have a particular set of skills. Every job has pros and cons, but as a solopreneur, you have to do many things you don’t like to do just to keep the ship afloat. If it were up to me, I’d just write all day long because that’s what I really, truly enjoy doing, but in order to make an income, I have to do much more than just write.
Another con is that it’s really, really easy to become a workaholic. If you are the sole person responsible for keeping your business running, it’s almost always going to lead to lots of hours and feelings of guilt when you’re away. It’s really hard for me to take a day off because that’s a day I could spend coming up with new post ideas or seeking out new jobs. I know it’s healthy and good to take a day off, but when you’re in charge of your monthly income, it’s hard to take it easy.
All in all, I wouldn’t change my current position as a solopreneur for anything. I wish I had more time to spend on my business, but I also am glad I have the time to spend with my kids. It’s all a balancing act that I’ll probably never figure out, but every day that I don’t have to get in a car and drive to a cubicle, I’m more than grateful for it.
Do you want to be a solopreneur? What’s holding you back?
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I’m finding that I am starting to become a workaholic, but much of it doesn’t feel like work because I am enjoying what I am doing.
I became a solopreneur last Spring and have enjoyed it for the most part. Honestly, I feel like I was made to work by myself. I don’t play all that well with others, and I have always liked to do things my own way.
There are definitely aspects of being a solopreneur that are very appealing to me. I love the idea of having a flexible schedule. I also like that you are able to create a name for yourself and do exactly what you want with your career. You don’t need to get your boss’s approval : )
Looks like you and Grayson were on the same wave length today as he wrote something similar on FR. :) I became a solopreneur almost two years ago (well I guess I’m not solo since I run it with my wife :) ) and don’t see myself turning back. I’ve been spoiled for the corporate world.
I want to be a part time solopreneur… at least to start :-)
FrugalRules Haha I know I just commented on his post. Great minds think alike. :D
Kara at The Daily Whisk That’s how I started – part time until I couldn’t handle both jobs anymore. Go for it!
BudgetforMore It’s nice for sure. That’s my favorite part.
Holly at ClubThrifty I really love it to. It’s perfect for me. :)
MonsterPiggyBank I feel the same way. I really really like what I do but it’s easy to work too much!
I was a solopreneur for a while. These days, I have business partners. It’s just too much to run a business by yourself…especially if you plan on growing beyond what you’re personally capable of. Thanks for the great read Cat!
I love being a solopreneur but it is definitely not for the weak of heart. For me the biggest challenge is managing work and fun because it is definitely easy to become a workaholic. After all, nothing would get done if you didn’t do it.
I love being a solopreneur. I can create my own schedule, provide services that I want to, and more. It is really easy to become a workaholic as you said though – a balance is definitely needed.
Joshua Rodriguez My pleasure Joshua Rodriguez ! :)
blonde_finance It’s true. It’s so easy to work every second you can!
SenseofCents Aren’t you glad you quit the day job? :)
I consider myself to be a solopreneur too, but sometimes schedule isn’t so easy to control. I’m at the whim of my clients demands and deadlines quite often, but I do enjoy other perks like being able to go to the gym at 8am when no one else is there. :)
The great thing about it is you can make a business decision without asking for anyone’s approval. Of course, there is only one to blame.
And afternoon meetings are very boring, unless they include a nap…
I’m totally a workaholic solopreneur. I think it’s because I know my destiny’s in my hands and if I work harder, I’ll receive greater rewards. We’re leaving in 2 months to become location independent so I want to smash a lot of work before then so I can relax a bit more.
Being a soloprenuer sounds pretty good to me. I’m definitely self motivated and don’t have to rely on a boss to put pressure on me (my pressure err motivation is intrinsic). Right now I’m OK with working for someone else while I’m still gaining experience, but eventually I’d like to be my own boss.
Beachbudget That is true. I also have deadlines but I’m usually the one who sets the day etc.!
No Nonsense Landlord That is nice!!!
WealthWayOnline That sounds exciting!
StudentDebtSurvivor I have no doubt that you will be your own boss very soon!
I love being a soloprenuer. It can be crazy at times, but I enjoy it. I agree with you, you can become a workaholic. There is always something to get done. Sometimes, I feel guilty when I have to take an extra hour or two to finish a project on a weekend afternoon. The work of a soloprenuer is never done!!