‘Entrepreneur’ is a term most people have heard of even if they have nothing to do with the business industry. Solopreneur is a new term that is becoming more and more relevant, especially as technology makes it easier for professionals to work alone. At first glance, entrepreneurs and solopreneurs seem one and the same. When you take a closer look, there are distinct differences that allow solopreneurs to emerge as their own separate entity with very different approaches to how they do business.
Commitment to One Business
The vast majority of solopreneurs don’t dream of the day when a larger company will buy the company they’ve built. Solopreneurs don’t want to move on to the next thing, they exhibit a rare dedication to one company and move forward at full steam. Entrepreneurs tend to build several businesses across a variety of industries, while solopreneurs focus solely on the niche in which they excel.
Solopreneurship runs more efficiently when they can simply just get work done. Entrepreneurs are more well-known since they frequently network and build connections to market their brand. Some solopreneurs will do the same and need to build strong networks, but they approach the process differently. The work comes first, everything else is not as much of a priority. These solo professionals often build relationships through the work they do and are more likely to be found in their workspace getting as much done as humanly possible.
Keep It Small
Entrepreneurs tend to build teams where they can delegate the work to others and manage the day to day processes and jump in when needed. Solopreneurs typically take on the bulk of the work and thrive in those situations. They might even never dream of hiring a large team and opt for a smaller company where they can have more control over every aspect.
What Distinctions Have You Noticed?
The differences are subtle, but once you know what to look for, it becomes fairly obvious. When starting your business it’s important to recognize which category you fall into. Do you prefer a large group or to work alone? Do you dream of running a massive corporation or are your dreams favoring a smaller local shop?
Once you recognize where you fall on the entrepreneur-solopreneur spectrum, you can adjust your business strategy accordingly. Knowing how you best operate is essential when starting a business and everything that follows may hinge on your ability to answer that question. To put your best foot forward, take a look at the situations where you are at your happiest and most productive, then build your business or your empire on that.