The entrepreneurial lifestyle has long been a key underpinning of American society. The independent spirit is alive and well in the country, and small businesses are responsible for enormous amounts of job creation and wealth generation.
That is fine for the entrepreneurs in the country, but what if you are more interested in doing your own thing than building a thriving business? If you want to strike out on your own, all alone, what should you call yourself and your endeavors?
There is a name for this kind of businessperson – the solopreneur. You can think of the solopreneur as a business owner who is not interested in hiring others or managing a complex operation, and there are plenty of them around.
If you are interested in running the show entirely on your own, it helps to have some key characteristics. Here are some essential qualities successful solopreneurs have in common.
They Value Their Independence
It goes without saying that solopreneurs are born with an independent streak. They are willing to go it alone, without partners, employees or even financial backers.
If you love your independence and enjoy doing your own thing, life as a solopreneur could be the perfect fit for your life and lifestyle. You will still need to do your homework, of course, and you will need to make sure there is a need for the type of business you plan to start. Going your own way is one thing, but being a broke solopreneur will not be much fun.
They Do Not Want to Be Managers
Founding a business can be a great way to secure your future, but what if you do not want to be a manager. Hiring (and firing) employees is not always a pleasant thing to do, and many would-be entrepreneurs simply do not want to double as managers.
If you love the idea of owning a business but hate the thought of staffing it, life as a solopreneur could be the perfect solution. Starting your own one-person business can give you the freedom and flexibility you are looking for without the hassle and expense of hiring and managing employees.
They Are Not Interested in Building an Empire or Creating a Legacy
No matter where you live, there are probably a lot of family-owned businesses in your area. Maybe the CPA who does your taxes is a third-generation number cruncher and the grandson of the firm’s founder. Perhaps the person who inspects your car every year is the son of the mechanic who first opened the shop.
Those family businesses are everywhere, but very few of them are run by solopreneurs. For the most part, the creators of these solo enterprises are not interested in building a lasting legacy or founding an empire – they want to do their own thing and make their own way in the world, but they do not expect what they built to last beyond their own hard work.
They Are Not Interested in Selling Their Businesses
Many business owners have an eye to selling out someday, either to a larger competitor or another entrepreneur. For solopreneurs, however, selling out is not generally an option, and those intrepid individuals are fine with that.
For the most part, the success of the businesses started by solopreneurs is inextricably connected to the individuals who founded them, and that means that selling is probably not an option. There are exceptions, of course, but the vast majority of solopreneurs are not looking for a quick sale.
Leaving the corporate world behind to start a business can be a very attractive idea. If you are a self-starter and ready to strike out on your own, life as a solopreneur could be the perfect fit, especially if you possess the essential qualities listed above.
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This has been a JBF Business Media production.