I love being a solopreneur for many reasons.
One of the reasons is that you have freedom and also the potential to make amazing things happen that you might not have been able to do as an employee.
Actually, there are tons of reasons I love being a solopreneur, but like anything, there are pros and cons.
I think that if you were to compare solopreneurship to employment, the difference is this:
As an employee, everything is more consistent.
Your pay is consistent, your day-to-day is pretty consistent (can vary by industry), your career growth is consistent.
As a solopreneur, you get more extremes.
Sometimes things are up, sometimes they’re down. And the highs are much higher, and the lows much lower.
Some people like it this way, some people prefer it this way, and some don’t.
There’s no right or wrong, there’s no better or worse. There’s just what’s best for you at that point in your life.
I’ve had some good highs and hopefully many more in the upcoming year, and some low lows too.
The key is to make sure you learn from the lows. Some of my key takeaways from major business struggles as a solopreneur:
- always do in-depth research and due diligence on any potential business partners. I don’t mean you have to get into creepy detail, but always make sure you know who you’re dealing with
- when you’re on the journey of solopreneurship, there will be ups and downs. The highs can be incredible, and the lows can be terrible. Enjoy the ups and prepare for the downs – they WILL happen, you just don’t know when, or how often, or how bad. Be as prepared as possible to minimize them
- sometimes things happen for a reason. Maybe it doesn’t seem that way in the beginning, but you can’t change the past, so focus on how you can move forward and maybe end up better off in the long run
- be diligent, keep a level head and track/record everything if you’re ever facing a very bad series of events. You never know what can come of it down the road (legal or otherwise), and keeping notes/records in case of emergency can help
Business can feel “easy” when times are good, and can be harder than anything when they’re bad. It happens to everyone in one way or another, but if you keep the above in mind, we can hopefully weather the storms and enjoy more ups than downs.
That’s it for me today. Don’t miss out on my daily updates from my solopreneur journey here, and keep grinding.