In real-sense I am not a solopreneur. But I’m very close to it.
Life@ Solopreneurship is very hard. It’s undoubtedly about hell lot of work.
Though there are few advantages of Solopreneurship like you are your own boss, you have to manage only yourself, you become disciplined, you can work from home, whole profit remains with you & the decision-making is very fast.
But solopreneurship is NOT an excellent idea for a long-term because:
- It involves extreme hard-work. Some days it may go up to even beyond 14 hours a day!
- It may often lead to burn out. Passion doesn’t last for long. You can be passionate for few years but don’t expect it to remain the same after few years.
- The only way in most cases is to spend more time on your business. You cannot automate everything.
- You have to learn too many skills. You have to manage everything from accounts to business deals.
- You don’t develop the most vital skill that is to work in a team. No great success has ever been achieved in isolation.
- You have to keep researching on Google to find new ways to automate or simplify your work.
- You cannot take BULK ORDERS as your ability to deliver is limited by your capacity. So, 😆 even scaling your income is a daunting task until you become famous for your expertise.
- The process of connection building is very slow.
- You don’t get an exposure to how BIG industries function.
A business model is judged by it’s possibility of future expansion & flexibility. There is not much scope for expanding the business to a gigantic level. So, your revenue is restricted.
PS- you cannot work like a maniac for a long-term. So, have a team. It will not only relieve you of the burden but will also help in infusing new ideas to your business.
With Great Love,
Er. Amit Yadav