Solo Entrepreneur(Solopreneur) Micro Business Home Based Business Small Office/Home Office (SOHO) Cottage Industry Whatever you want to call it.....
More and more people from all walks of life are trading their traditional job for the ten second commute of the solopreneur and they're doing very well at it.
According to the Small Business Administration, the average solopreneur makes about $40k per year and that number soars into the six and seven figure range for solopreneurs who work with a solid business plan and outsource some of the work...usually to other solopreneurs!
According to the Small Business Administration, the average solopreneur makes about $40k per year and that number soars into the six and seven figure range for solopreneurs who work with a solid business plan and outsource some of the work...usually to other solopreneurs!
Where Do Solopreneurs Get Their Business Ideas?
Some solopreneurs build a business around whatever they did in the corporate world. Some of the fields that translate well into home based businesses are:
Others build a business around a hobby they can monetize like:
The key to having a successful home based busienss is to do something that you find rewarding and creating (and sticking to) a business plan. Those are critical. If you don't love what you do, you won't have the motivation you need on those days when sleeping in sounds like a much better idea than getting up and going to a networking event. If you don't have a solid business plan as a guide for planning your work, you end up spending most of each day trying to figure out what you should do that day and getting very little done. You can find some turn-key businesses in our Ready to Start Businesses section
One of the best allies a solopreneur can have is an accountability parnter. An accountability partner is someone who agrees to meet with you at specific intervals to hear and help you brainstorm your plans then to be available for check-ins as the plan progresses. Usually, the relationship is reciprocal with you providing the same service for them. Successful accountability parnters meet regularly, usually at the start of each week, to check in with each other on the upcoming week's goals and report on the previous week's progress. This simple act of checking in doesn't have to occupy very much time, but it has proven to be a powerful way for solorpreneurs to grow their businesses. Networking events are a great place to meet potential accountability partners, and so are places like our forum here and our Facebook group where you'll find like-minded people who understand the needs and challenges of a growing business.
- administrative
- research
- writing
- graphic design
- editing
- accounting
- web design
- customer service
- virtual assisting
- coaching
- sales
- marketing
- public relations
- bookkeeping
- legal
- desktop publishing
- creative arts
- medical billing
- ecommerce
- strategic planning
- database development
- payroll
- human resources
Others build a business around a hobby they can monetize like:
- photography
- baking
- sewing
- leathercraft
- jewelry making
- Just about anything you can imagine
The key to having a successful home based busienss is to do something that you find rewarding and creating (and sticking to) a business plan. Those are critical. If you don't love what you do, you won't have the motivation you need on those days when sleeping in sounds like a much better idea than getting up and going to a networking event. If you don't have a solid business plan as a guide for planning your work, you end up spending most of each day trying to figure out what you should do that day and getting very little done. You can find some turn-key businesses in our Ready to Start Businesses section
One of the best allies a solopreneur can have is an accountability parnter. An accountability partner is someone who agrees to meet with you at specific intervals to hear and help you brainstorm your plans then to be available for check-ins as the plan progresses. Usually, the relationship is reciprocal with you providing the same service for them. Successful accountability parnters meet regularly, usually at the start of each week, to check in with each other on the upcoming week's goals and report on the previous week's progress. This simple act of checking in doesn't have to occupy very much time, but it has proven to be a powerful way for solorpreneurs to grow their businesses. Networking events are a great place to meet potential accountability partners, and so are places like our forum here and our Facebook group where you'll find like-minded people who understand the needs and challenges of a growing business.
