Most people haven’t heard the word solopreneur because it’s only been used in the last few years. It is actually entrepreneurs who run their business all by them themselves and work alone. Entrepreneurs are totally responsible for the daily operation of their company but they also have employees as a solopreneur doesn’t.

Now is a good time to become a solopreneur where there are no managers, team leaders, or supervisors watching and managing all the time. There’s no one pushing to reach expectations and goals that are unrealistic. There’s no sitting in a tiny cubicle staring at the walls and wondering how to escape this rat race.

Many people are inspired to become a solopreneur due to a layoff and they need to make some money very quickly. They don’t really want to look for another position elsewhere. They’re looking for something they can be in control of. Basically, they want to be their own boss.

Here are 9 advantages of being a solopreneur:

1. The demand is growing

Freelance work continues to grow rapidly and in the next few years, it will increase even more. Many executives say they will be increasing the use of freelancers, and these people will be replacing employees that have been or will be laid off. There are also more opportunities available through social media because the new American dream is a start-up. On LinkedIn and Twitter, there are many users who show the word “solopreneur” in their bios. Freelancers are banding together and are on the rise, and even the solopreneurs are never alone.

2. Choose a flexible schedule

Solopreneurs are free to choose when and how they want to schedule their time in order to be productive. It’s perfect for attending events that had to be skipped when they had a boss. An important occasion never has to be missed again and worries about getting the time off will be gone. A solopreneur now has the flexibility to balance their professional and personal life just the way they want.

“Happiness is not a matter of intensity but of balance, order, rhythm and harmony.” – Thomas Merton

3. Things can happen quickly

In combination with flexibility is the speed of implementation. After people make the decision to become a solopreneur, that’s it, and it’s done! And the execution can start immediately because they’re now the boss. They can now determine the goals of their company and what strategies are needed to achieve the aims of the business. They can react quickly to any opportunities at the last moment, and the efficiency of the business depends solely on them.

4. Security is better than before

Traditionally, most people stay in full-time jobs because of the safety of a paycheck. However, that security is not relevant any longer. An employee now averages only five years at the same company, and when a business is in difficulty, the first thing cut are the jobs. Solopreneurs usually work for a variety of clients meaning even if one job is over, they don’t lose all of the income at once. It’s easy for them to pick up another client to replace the one that was lost.

5. Employers will create their own marketplaces

The new trend is that many startups are industry specific, and they’re now matching skilled and experienced people to these companies. And soon, there won’t be a middleman as the companies are beginning to set up their marketplace online. The skilled and experienced solopreneurs will then be able to login and select the project they want.

6. Create your own destiny

Solopreneurs hold their own destiny in their hands, and they have the freedom to create their destiny and opportunities. They use their passion, best skills, determination, and knowledge to create the business they’ve always wanted. They can achieve their goals, and nothing can hold them back from now on. Their business can grow, even worldwide, as far as they want to take it.

7. There’s no limit to the earnings

Employees can’t expect much of a raise in pay unless they work on commission or receive performance bonuses. Freelancers usually aim high and plan to make over 40 percent more the coming year. Typical employees feel they would be satisfied with a three percent hike. Of course, not every freelancer will make that much more, but their prospects look very good.

8. Technology is a tremendous help

With so many tech tools and apps available today, the possibilities of creating a great business are endless. By using web-based cooperation, chat, file-sharing, and management programs, it’s so much easier to keep in touch with their clients. There are apps to assist with social media, making videos, keeping reports, and saving notes. As technology evolves, the new products will continue to help solopreneurs in their endeavors.

“I use social media as an idea generator, trend mapper and strategic compass for all of our online business ventures.” – Paul Barron

9. Freedom to work anywhere

Being a solopreneur has a lot of freedom, and one of those is that they can work where they want to. The technology of today makes it possible to work from home or anywhere that Wi-Fi is available. It could be on the beach, in a park, at a quaint café or just in the backyard by the pool. Or, for those who love to travel, they can work from any place in the world.

Being a solopreneur means your job will no longer feel like work. You’re not obligated and don’t have to do anything if you don’t want to. Of course, you do need to set a plan for the workflow and be dedicated to making money. It will just be much more enjoyable.

Have you currently set out on your solopreneur journey? What’s yours like? Leave your thoughts below!