Tired of working for someone else? Thinking of going out on your own? Building my own business is one of the most rewarding experiences I have ever had. When you’re successful, it feels incredible. Starting out can be tough. You may not have the cash flow to hire employees and build a team, so you start off as a solopreneur. You’re probably asking yourself right now: what is a solopreneur? Well, it’s just like it sounds. A solopreneur builds his or her business, but also works alone. That person runs all the business parts, from accounting to customer service.
Believe it or not, being a solopreneur is actually much more common than you would expect. Many people who work as independent contractors establish themselves as a business and that makes them solopreneurs. As your business begins to grow and you start to build a bit of capital, you may start thinking about being a solopreneur versus entrepreneur. Having a few employees would make you an entrepreneur, but that also means your expenses will go up and your take-home will go down. As a solopreneur you’re doing all the work, but you’re keeping all the profits. See the difference?
How about you? Do you see the benefits of being a solopreneur versus entrepreneur?
