What is a Solopreneur and why this is the best time to start a business

What is a solopreneur?

solopreneurAccording to the Urban Dictionary, the term “Solopreneur” has been defined as an entrepreneur who works alone and runs their business single-handedly. They might use contractors but they have full responsibility for the day-to-day running of their business.

How I like to define “Solopreneur” is that you work for yourself, create and live your own vision and embody your own brand. You collaborate and form partnerships (and your own personal team) with complimentary and like-minded solopreneurs. You outsource all the stuff you don’t want to do – and almost everything is automated. Eventually you can work the hours you choose and the money still keeps rolling in. You can enjoy complete personal, professional and financial freedom.

Why is 2013 the best time to become an entrepreneur?

While the prospect of becoming an Entrepreneur or Solopreneur can be a scary notion for a lot of people (for fear of losing a secure income for example) – the landscape around entrepreneurship is changing. There has actually never been a better time (and I mean now in 2013!) to start up a thriving and financially successful business as an Entrepreneur – and more specifically a Solopreneur.

For the last 7 years, I was a Sales Performance Specialist with one of North America’s Top 10 Sales Training firms. I had the privilege to consult with hundreds of leading North American and Fortune 500 companies. What I found hugely disillusioning was seeing so many of my clients (Directors, VPs, SVPs) – all incredibly talented and dedicated professionals losing their jobs due to downsizing or changes in leadership. It broke my heart as I watched these people struggle for months and even years to find work. They put such tremendous effort aligning who they are and what they know to fit within an organization. I saw their feelings of self-worth take huge hits! Let’s face it – the days are gone when you can rely on a corporation for a lifetime of professional or financial security. Not to mention, the huge uncertainty in our North American and global economies!

As with any challenge however – I believe there is opportunity – and in this case a bigger and better opportunity than you can ever imagine.

How doing business has changed

Have you noticed that the way we do business is changing? When you need to find a solution or want to buy something, or when you are looking for entertainment or education – what is the first thing you do? You Google it! Everything is about the Internet. Everything is “online”! We all look for information and resources through blogs, articles, videos and training programs…

And how do you buy things? Whether it’s clothing, unique gifts, books, “how-to” manuals, almost everything – more and more we are buying it online!

In 2010, $165B was purchased in North America through e-commerce. In the next 2 years that will increase to trillions. In the next 4 years, 3 billion more people will be coming online – in fact 68% of the world’s population will be connected!

Now is an opportunity to start or grow your business

What this means is there has never been a better opportunity to create a thriving business with a multitude of customers. In fact, you can create a 6 to 7-figure business totally on-line. Thousands are doing it right now! You can package who you are, what you know, and bring what you uniquely have to offer to the most people. You get easy access to the best customers, the highest margins and can make money 24/7.

Whether you are a corporate executive, jewelry designer, communications expert, life coach, personal trainer or Stay at Home Mom – the World is your oyster! You can take who you are, what you know, the advice and message you have to create a thriving on-line business. On the other hand, if you have a face-to-face service-based business (for example, if you are a holistic healer or fitness instructor), you can supplement your offering with a suite of integrated on-line physical and/or information products.

There is a huge trend of vanishing knowledge capital in today’s market place. The first baby boomer officially turned sixty-five on January 1, 2011. For the next 18 years they will be heading towards retirement and taking this tremendous amount of knowledge capital along with them. Baby boomers have the opportunity to create the next chapter of their life by sharing their vast knowledge virtually, outside of a corporation while creating huge value to the most people (and making lots of money doing it).

In the past, running your own business required an awful lot of support. It required a tremendous amount of investment just to get started. Only until very recently has it been possible to run a sustainable business from the comfort of your favorite WI-FI hotspot, without being extremely tech savvy. The technology to do this is now easily accessible and inexpensive to use. This is why becoming a Solopreneur is now totally achievable and quite frankly, the wave of the future.

How do you become successful?

In order to be a successful Solopreneur, you want to ensure you have a strong team and great systems. Depending on the type of business you are running, the team you want to develop includes a Virtual Assistant, Web designer, Accountant and Bookkeeper. Systems and/or technology you want to consider include: Shopping cart/Pay pal, automated calendar, a fully functioning and automated website, software to manage Joint Venture and Affiliate Partnerships and sell Information Products, Conference Call and Webinar sites.

You might be thinking – well what kind of business should I start up as a Solopreneur? The single most important thing you can do to create a thriving and fulfilling business is to ensure your business is aligned with your Passions, Strengths and the unique Value you bring to others. Then take that, package it and turn it into a business that has marketability on-line.

Next step …

If you would like to learn more about how to create your ideal business as a Solopreneur then click here

Kim Chernecki is the founder and President of Freedom Street – a training organization dedicated to help aspiring Solopreneurs to create their ideal business and a roadmap for Financial Independence.

photo credit: Oldmaison via photopin cc