The often touted lifestyle is one of comfortable ambiance. You have probably seen the image above elsewhere, and it had your thoughts drifting away to exotic places, thinking it was time to ditch the 9-5 and try something different.
Then you had a series of thoughts go through your mind, and you put the solo entrepreneur idea back into the fairy land basket.
And there is a lot of “Fairy Land” stuff out there.
Let’s face it, there is no such thing as overnight success or getting rich quickly. That I can promise, no matter how amazing the opportunity looks.
Anyway, this is not about pie-in-the-sky programs.
Let’s take a serious look at the work of online entrepreneurs
Is life for the Online Solo Entrepreneur, as Good as the ads make it out to be?
The much-written-about lifestyle paints a good picture of relaxation.
But do the benefits of being an online solo entrepreneur match the reality?
For many people, it is a reality, and I will give some examples below. However, there is a dark side to this.
Research has shown that entrepreneurship can be a lonely journey.
Research tends to focus on entrepreneurial businesses, with a team of employees, a wage bill to meet each week, production issues, government red tape, etc.
Some people enjoy the cut and thrust of setting a business up and being successful.
Generally, this is where research reveals the dark underbelly of being an entrepreneur, or solo entrepreneur.
There are however lots of differences between an entrepreneur and a solo entrepreneur.
One is setting up a business that (or will), employ people. The other is basically a sole trader with no ambition (intent), to expand their business.
Basically, the solo entrepreneur has a single business focus, and a desire to retain their autonomy.
The term has become popular for many online workers in various fields, but before the online term became popular, the term used was a sole trader or self-employed.
Let’s take a look at some Pros and Cons of the online solo entrepreneur.
|Lifestyle Choices||Potential to be caught up in Scams|
|Flexible Work Hours||Deadlines to meet|
|Potential to be well paid||Struggle to make ends meet|
|Continually upgrading your skills||Lots of Competition|
What are the lifestyle choices for the online Solo Entrepreneur
So you have finished this month’s work, and you have taken off to Patagonia for a week of exploring. Is it possible?
Yes, it is, and there are many who break their months or days into work periods and relaxation time. Work in the morning, play golf in the afternoon for example.
But really, What does an online entrepreneur do?
It is all dependent on what you do online of course.
If you are a software developer then you might be stuck in the basement for weeks, getting that new app perfected, before you can even think of taking a break.
Maybe you have finished editing books and deserve a break.
Or any number of other self-employed opportunities where you can take a break when it suits you.
You might be thinking this is out of your league, but the internet has opportunities for everyone.
It is just that whatever you choose or are good at, will not always lead to taking weeks off whenever you feel like it to go exploring Patagonia, or anywhere else for that matter.
For many others, it is a dream.
Some are working towards it, while others throw in the towel and go back to their day job.
Potential to be Caught up in Scams
Lets face it, the scams are out there, and you should be researching any opportunity that is making big promises. As they say “If it looks to good to be true, it probably is.”
So be careful in your choices online, I make a couple of recommendations below, and there are others throughout this site.
The last thing you need is to finish up in a financial body bag.
Flexible Work Hours
Everyone’s favorite plan. like the photo at the top, relaxing on the beach with a laptop. Personally, I wouldn’t take a laptop to the beach.
I don’t think wind, water, and sand are not a good combination for laptops.
Still, you could do it from a balcony overlooking the beach.
If you are able to do that, then you have put in the work to have clients, or already have residual income coming into your account, from previous work.
If you are a content writer or copywriter with clients, then you will have deadlines to meet, life will not be all beer and skittles, and there are living expenses as well as hosting and internet services to be met.
Potential to be well Paid.
That opportunity is there. Working for yourself doesn’t have to be complicated. The internet is full of shiny objects. Focus on one thing and you will find it can work for you.
Of course, the reverse is also true, and you might struggle to make ends meet for a time.
But that is true of most endeavors in the beginning. It takes time to build a client base.
Solo Entrepreneur Skills
I touched on a few above, but any skill you have can be utilized online.
I know, If we say it fast, it sounds easy. But with some planning, it can be done.
Keeping your online skill sets up to date doesn’t mean you spend your time studying.
More often than not it comes from you seeking out new avenues for increasing your business.
For that, there are no books required.
Developing networks/ or networking will generally be the most profitable thing you can do to keep improving your position in the online marketplace.
The best people to learn from are your competitors.
Generally, they have been where you are now, and most (believe it or not), are happy to give advice.
Where I started.
Like a lot of people, I started with dropshipping, starting on eBay
The skills I needed to do that were basic. Follow the prompts basically. But the stuff I sold was also made by entrepreneurs. Like this coin golf ball marker.
Others I knew who were selling their own products included artists, dressmakers, and even a guy living in the back blocks outside a small town, who made hunting knives
Those who actually do work online include copywriters, content writers, graphic artists, and internet marketers.
So the skills to be an online solo entrepreneur are as varied as the occupations people are involved in.
The key to being successful is persevering and being consistent.
With a traditional venture-backed business, there is a risk of failure. If you squander your investor funding, you fail.
As a solopreneur, the only way you can fail is by giving up. So put in the effort.
Famous Solo Entrepreneurs
Let me introduce James Altucher. James is a successful self-published author and blogger.
Years ago he started an investment website called “The Street” which was eventually bought by Yahoo finance. He has tasted success and failure, having started 20 companies 17 of which failed.
He also has a blog which I highly recommend. I started reading it in 2016.
Scott DeLong. Started a website and made millions without hiring a single employee. His website ViralNova was bought by a media company in a cash and stock deal which has the potential to be worth up to $100 million.
Affiliate Marketing. Check this guy out. Roope Kiuttu. His advice is “A little progress every day adds up to big results.”
He is a Finlander, so it doesn’t matter where in the world you are, anyone with enough desire to change their circumstances can do it.
While his friends were going on skiing trips on weekends, Roope (or Robert), sacrificed that time to build a highly successful website, that now sees him living in Costa Rica away from the freezing temps in Finland.
Solo Entrepreneurship Examples
Some more solo entrepreneur ideas for you. In addition to the above, these are all highly popular niches for solo entrepreneurs.
- Software (again)
- A YouTube channel
- Social media influencer. This takes a lot of work, Tic Tik for example you need 10,000 – 50,000 to be considered a “Micro” influencer.
- Books, courses/information products
- Podcasting, speaking, webinars
- Services, live events, and many more.
There are many more examples of successful entrepreneurs I could have listed.
One thing they all have in common is they persevered.
All of them will tell you.
“Making a sustainable income online takes time and effort.”
But I have seen that if you consistently sow the seeds (Read: Take action!), it will pay off.
Keep on sowing those little seeds every day and one day you will reap a big harvest.
2022 is going to be an explosive year for being online as more and more people are relying on the internet for jobs, side hustles, and making purchases.
You can be a part of this or stay behind.
Thank you for reading,
aka The Barefootaffiliate.