How to Become a Solopreneur and Lead an Independent Life

Solopreneur refers to an individual who sets up and runs a business on their own. Now, who doesn’t want to start their own business? I am pretty sure that most of you at some point in your life have thought about building your own dreams.

There are a lot of advantages to being a solopreneur such as financial freedom, recognition, and flexibility. However, getting started as solopreneur can be challenging.

Here are five tips to get started as a Solopreneur and lead an independent life:

1. Pick your passion

This is the most important part of your solopreneur journey. You have to choose something that you’re truly passionate about, because doing something that you don’t like on a daily basis will be exhaustive. A lot of people run a business like it’s a burden, and sooner or later they’ll fail.

There’s a reason why famous artists, musicians, and writers make a lot of money –they’re very passionate about it. Make a list of your hobbies and then find out what’s the one thing you can do on a daily basis without getting exhausted. It can be anything like writing, painting, or any services you can offer.

Figure out how to monetize your hobby or profession. While this can be tough, I know a chartered accountant who straight away started offering services on his website after graduation instead of working under someone. There can be a way if you just sit back and think creatively.

“Focus on building the best possible business. If you are great, people will notice and opportunities will appear.” – Mark Cuban

2. Pick a brand name

Once you figured out your niche, the next important part is to build a brand around it. These days building a brand means getting on the internet. Whether you’re an artist or a local small business owner, you can’t ignore the internet.

Pick a suitable name that suits your niche, start a website or blog and create social media profiles as well. You don’t have to spend a lot of money to build a website. Just make sure you grow your brand awareness. By doing so you’re leveraging your chances of being a successful Solopreneur.

If you carefully analyze some local small businesses, you will find that there’s a huge gap in their brand approach when it comes to internet branding. If you’re reading this, I’m pretty sure that you have a certain level skill-set to use technology; make use of this to increase your brand awareness. Over time, your brand will bring you an identity that you will find very joyful.

3. Build a suitable schedule

You certainly don’t have to quit your day job to start your venture. A lot of folks complain they don’t have enough time, but that’s not the reality. They just procrastinate without taking action.

Here’s the secret: There is not a single successful person who made it overnight — They all built it in chunks. If you just dedicate one hour every day to build your dream, you will have a clear direction after a few months. Just forget about the “How” part and take action each day.

4. Build a small team of freelancers

A Solopreneur doesn’t necessarily mean you have to do everything yourself. In fact, a lot of successful Solopreneurs have a small team of freelance designers, developers, lawyers, and proofreaders.

Once you reach a certain level of success, you can outsource some work to provide you with more flexibility and time to think. If a client needs the logo for their website, I find some logo designers on freelancing sites. Why? Because I’m not good at designing but still offer these services. In fact, Steve Jobs never wrote a single line of code, yet reached Apple to great heights.

“None of us is as smart as all of us.” – Ken Blanchard

5. Fully commit yourself

It took me over eight months to earn my first dollar with my blog, but now after six years here I’m thinking — I’m glad I didn’t quit. You’ll face a lot of hurdles, you might get bored, depressed and lack motivation, but try to keep a positive attitude towards your journey.

Always aim for long term goals in life. Joel Brown set a 10-year vision for success while starting this website. Also, never get caught up with momentary gains because it’s a hurdle for your growth. Fully commit yourself to your dreams and believe it’s possible to make a living with your passion and lead an independent life.

How do you plan to reach your goals in business? Share with us some tips and advice for fellow readers!

Image courtesy of Twenty20.com