Solopreneur is one of the newest buzzwords on the web. A lot of people are talking about solopreneurs and solopreneurship. Sometimes they are meaning it in the right manner, and sometimes not so right. 🙄
In this article, I’ll discuss solopreneurs, solopreneurship with 15 examples, the history of solopreneurship, how solopreneurship is different from entrepreneurship and freelancing, and why solopreneurship is becoming a thing right now in 2022.
I started my entrepreneurship journey as a solopreneur. I had been a solopreneur for straight 3 years, and I hope to become a solopreneur again in the coming stages of my life. 👍💪
Nowadays, there are a lot of opportunities for a solopreneur to blossom. The picture was not the same; some 10 to 12 years ago.
With the ever-expanding access to the internet, now everyone can become and aim for higher rewards by pursuing a solopreneurship career.
I think it is going to be one of the most cherished career choices among the coming generations. 😇
Research shows that more than 41 million adults only just in America currently work as solopreneurs, and the numbers are increasing.
But what is the meaning of solopreneur? What are some examples of solopreneurs? Is it a new thing or just old wine in a new bottle? Let’s dive in.
What is the meaning of solopreneur?
The word solopreneur is a combination of two terms; solo and entrepreneur. When an individual starts a business, runs the business and owns the business all alone, without any partners or employees, then we can call that individual a solopreneur.
The meaning of the term solo is alone, and an entrepreneur is someone who sets up a business. So, a solopreneur is a blend of both, a solo entrepreneur. 🤝
What is solopreneurship?
The process of setting up and running a business being an individual or solo is called solopreneurship.
Solopreneurship is an aspect of entrepreneurship. Previously we could mean solopreneurs as entrepreneurs. But now, we can be more specific with the term solopreneur.
It helps us to differentiate between solopreneurs and entrepreneurs more precisely. 🎯
What is the difference between a solopreneur and an entrepreneur?
Solopreneur is singular, and entrepreneur can be both singular and plural. Every business falls under the entrepreneurship category. But only solo businesses fall under the solopreneurship category.
“Entrepreneur” is more of a generic term, whereas “solopreneur” is a more specific term. Every solopreneur is an entrepreneur, but not every entrepreneur is a solopreneur. 😵
Suppose you are passionate about guitars, and you start a business of handmade guitars all by yourself.
You are doing all the tasks in the business single-handedly. You are buying wood and raw materials from the market, manufacturing guitars, and selling them by yourself only. Then you are both a solopreneur and an entrepreneur.
The moment you hire an employee to do one of the tasks in your business, you no longer remain a solopreneur, 😱 but you remain an entrepreneur. 🤘
Solopreneurs might have contractors for hire but not employees or business partners.
What are some examples of solopreneurs?
A coffee shop owner who works alone, an individual potter who makes and sells handmade pottery products, an author who self-publishes her books, a solo YouTuber, and an indie game developer; all of them are examples of solopreneurs.
Here are 15 examples of solopreneur professions in our current time:
- Youtuber or Vlogger
- Plugin or Theme developer
- Creative asset designer
- Solo coffee shop owner or tea stall owner
- E-commerce seller
- Coach and Online course creator
- Web designer
- Social media influencer
- Affiliate marketer
- Indie game developer
- Blogger or Content marketer
- Indie software or mobile app developer
- Stock investor or Stock trader
- Candle or handmade product maker
- Author and self-publisher
The rule is that you have to be all alone in the business. You have to make things, you have to manage things, and you have to sell things all by yourself in your business to call yourself a solopreneur.
Solopreneurship may seem a hard and scary journey to take on. But when passion comes in charge, every other thing looks smaller. ❤️🔥
That is why solopreneurs focus on the work they are highly skilled in and passionate about. It’s a career choice moulded with pure love. Without skill or extreme love and passion, solopreneurship is not a path to consider.
If we observe our surroundings consciously, then we will be able to find more solopreneurs than we could imagine. Solopreneurs are all around us since the beginning of civilization.
The term solopreneur may be new but the concept is constant with time.
What is the history and origin of solopreneurs?
Solopreneurs; and solopreneurship as a profession has been around us since ancient time, presumably from the Mesopotamian civilization dating back to 5000 BCE till today.
A farmer individually farming his land in the oldest civilization, a swordsmith forging swords by himself for the soldiers in the medieval age, a carpenter crafting pieces of furniture all alone in the 19th century, a tailor, a coffee shop or tea stall owner, a potter; all these are examples of solopreneurs standing tall with time.
Solopreneurs have been around us for a long, and they will stay forever. 👌
Nowadays, solopreneurship has become a more lucrative career choice than ever before. More and more people who are,
- Passionate about something
- Skilful
- Prefer a minimalist approach
- Want lesser dependencies
- Enjoy the flow of their own pace in life
Are now diving into the solopreneurship profession. This kind of luxury was not available in previous times.
In the past, it was not possible if someone wanted to lead this lifestyle and earn a lot of money. But now, this is a reality. That is why we are observing a sudden rise in solopreneurship.
Why are we experiencing a sudden rise in solopreneurship?
A sudden rise in solopreneurship has happened for numerous reasons. But I want to highlight two reasons, those I think are the most impactful ones.
- Expanding access to the internet
- Digital products becoming a norm in people’s lives
1. Expanding access to the internet
The internet is now expanding its reach. Around 69% of the entire world’s population has internet access. This enables solopreneurs to market and sell their products almost anywhere in the world. This boundary-less huge market is lucrative and a grand opportunity for any solopreneur.
A solopreneur can create a product sitting in Japan and then advertise and sell it in the furthest corner of Australia using the D2C model. Just find a shipping partner and boom! 🙌🥳
2. Digital products becoming a norm in people’s lives
Digital products don’t have recurring manufacturing costs, transportation hassles, or damaged returns. These traits among a lot of other traits, make digital products a great choice for any business.
Previously digital products were available, but people were not acclimatized to their usage. Our usage patterns were limited only to physical or material products.
Now, for the last few years, this picture has drastically changed. Digital products have become a part of our day-to-day lives. Be it a mobile application, an ebook, software or a youtube video. We are now more comfortable buying and using digital products than ever before.
Solopreneurs capitalize on this opportunity to position themselves in the market. 😎😉
They can create a video sitting inside their house and promote it to a targeted audience. This targetted audience can be from anywhere in the world.
As digital products don’t have any physical form, there is no need to hire hundreds of employees, or a factory and huge capital to start the business. That is why starting a business on the web being a solopreneur has become so easy and lucrative.
For these reasons solopreneurship as a career choice is rising in today’s time. Some people are referring to this phenomenon as a revolution; a solopreneurship revolution.
Are we witnessing a solopreneur revolution?
Yes, we can say that we are now experiencing a revolution in solopreneurship. Internet and digital products have enabled solopreneurs to run their businesses with lesser dependencies, minimal startup costs and a huge market reach.
These advantages were not available in previous times. Now with these advantages, the solopreneurship profession has become a simple, one-man manageable and lucrative choice for earning money. 🤑
Also, it helps passionate individuals to pursue a career they love without depending on any corporate entity or institution.
A report as early as 2013 showed solopreneurs are experiencing significant growth, and in 2016 they predicted the number of solopreneurs to skyrocket by 2026.
With technology making business easier and our long-standing views of the workplace transformed, solopreneurs, will continue to take up an increasingly larger segment of the economy each year. 🔥
Solopreneurship is booming and solopreneurs are growing in numbers with every passing day. Any individual can now dream of becoming an indie game developer, a YouTuber, a podcaster or anything they want without joining a company.
Right now in the 21st century, this is the best time to be a solopreneur, thus the solopreneurship revolution has begun!
What are some other terms for a solopreneur?
Fundamentally, a solopreneur means a solo entrepreneur. So, using our common sense, we can also call a solopreneur with the terms like proprietor, individual business owner, and to some extent self-employed.
Solopreneur is a new term to address all these other terms. But sometimes, we use solopreneurship in the context of freelancing. There is a fundamental problem here. 🤔
As per my learning, solopreneurship and freelancing are not the same things.
What is the difference between a solopreneur and a freelancer?
The fundamental difference between a solopreneur and a freelancer is that; a freelancer generally trades their time for money, like an employee. But a solopreneur develops a business that can generate money without their recurring time involvement.
For example, a YouTuber publishes a video today, does proper marketing and forgets about that video with time. ⌛
That single video will be there, and it can generate money years after. With each view of ads, the YouTuber will get paid even though he or she is not time-bound to that video anymore.
As long as the video stays relevant and gets enough views, the YouTuber will get paid while golfing. ⛳🙃
But for a freelancer, this is not the case. When a freelancer works on a project, only then there is payment. If not working, then no payment. Freelancers trade time with money like an employee.
It is the fundamental difference between the two mindsets.
Solopreneurs have a business mindset, whereas freelancers have an employee mindset. 📌
Conclusion
In this article, I tried to describe the meaning of solopreneur and solopreneurship in their literal sense with examples and the origin story. I also gave an idea of how solopreneurship is different from entrepreneurship, and why solopreneurship as a profession is booming nowadays.
But I kept the spiritual part of solopreneurship to delve to the last.
Yes! There is a spiritual aspect to solopreneurship. Only a few will understand. 💔
As I discussed earlier in this article, solopreneurship is an aspect of entrepreneurship.
Same to entrepreneurship, solopreneurship is a mindset, a mindset that drives a particular lifestyle.
To become a successful solopreneur, one must accumulate that mindset in the process. And to accumulate that mindset, one must find spiritual love in the process.
That spiritual love is the root of all energy to push forward and break through as a solopreneur. It will make you smile when you are on your knees, it will make you sustain when you are just a moment away from giving up, and it will make you sacrifice anything and everything for your purpose. 💖
It is the only thing to elevate you as a solopreneur; a true solopreneur!
This spiritual love is the ultimate pursuit for a solopreneur. I hope you will find your spiritual love pretty soon in your solopreneurship journey! 🤞
If you’re considering becoming a solopreneur but not sure of your path ahead, then I highly recommend you read my article 10 best solopreneur ideas. These ideas are handpicked by me only. And I have tried to analyze each idea in detail. After reading this article, you’ll find some clarity for sure.
Did you find your spiritual love already? Share your story in the comment, and if you like this article, then don’t forget to share it with your network. 🥺🙏
It will be a big help!
