Realities of Being a Solopreneur
Solopreneurship has its challenges, but its rewards are sweet
Since college, I wanted to be a writer. It was an easy decision thanks to my unwavering passion for the written word. However, transitioning from nine-to-five to freelancing wasn’t an immediate decision. Fazed by self-doubt and financial insecurity, it took me a long time before I finally took the leap of faith.
That was a few years ago. Today, I can attest that being a solopreneur has its ups and downs. Some days were good and some days were spent worrying about my next paycheque. While embarking on the path of solopreneurship, I learned many lessons along the way. Today, I’ll share the honest realities of being a solopreneur.
1. You need to be responsible for your decisions
Freelancers need to wear many hats. When you’re running your own business, you’re the project manager, accountant, marketer and many more. As a solopreneur, you’re also responsible for the decisions you make and moves you take.
Once, I had all of my articles due on the same week. It happened because I didn’t triple check my content calendar and kept saying yes all week. I was caught in a stressful situation and had to decide between hiring a freelancer and burning the midnight oil.
Knowing that I will profit less from my projects, I went with the former because the articles had to be delivered on time. When it comes to making a decision, solopreneurs have to decide what’s best for the business. I also learned that there’s no such thing as a right or wrong decision. If there’s an advice I can give is to trust your instincts. Only you know what’s best for your business.
2. You need to learn about business operations
Understanding business operations are the trickiest part of solopreneurship. When you’re accustomed to the nine-to-five working life, the freelancing world will be an unchartered territory. Back then, you can rely on human resource department or management team to solve problems for you. As a solopreneur, you need to learn everything to run your business effectively.
Whether it’s picking up the finances or advertising your business, you need to learn it all. It may seem challenging at first, but treat it as a fun learning experience. Who knew that digital marketing, accounting and graphic designing can be that interesting?
It’s also important to remember that we aren’t experts in everything. If you lack the time to manage your Facebook page, seek a social media specialist. If you lack the creativity to write or design, hire a freelancer. Most of the time, we need extra help to run things efficiently.
3. You must schedule your leisure time
When you have a day job, your off-duty days are pre-assigned. You can relax on Sunday mornings and even, apply for a week-long vacation to unwind. The thing about solopreneurship is that work is constant. When you have a lot on your plate, you might find yourself hustling through the weekend or seasonal holidays to keep up with the deadline.
After surviving many stressful situations, I realised the importance of scheduling my own leisure time. It’s vital to take a step back to recharge and rejuvenate whenever my schedule permits. When I have an available weekend, I’d do the things I love such as attending creative classes or hanging out with my friends. Solopreneurs should never feel guilty about allocating leisure time – even though it falls on a Wednesday. Everyone needs and deserves downtime, and so do solopreneurs.
4. Discovering the true value of hard work
Slacking is a word that shouldn’t exist when managing a business. As a solopreneur, your income is reflected by the number of work you’ve done. Whether it’s accepting challenging tasks or searching for new clients, we need to constantly be on the move. It’s important that we deliver our best work and network diligently within the industry.
I discovered the true value of hard work when I started my freelance writing business. Solopreneurship also changed my perspective on what ownership and responsibility truly meant. If you want your business to succeed, passion and hard work must follow.
Venturing into solopreneurship may be challenging, but we promise you that its rewards are sweet. You’ll learn a lot about who you are and improve on the things you never knew you could do. If you’re ready to take on this unchartered territory of solopreneurship, I hope this article will give you the exciting realities to take your own leap of faith.