Top 3 Keys to the “Solopreneurship” Kingdom and How to Use Them

by: Courtney Rosenfeld MSV

You have your idea — an innovative concept that only you can fully realize. You have some funds saved up to make it happen. What next? What do you need to become the “solopreneur” you know the world needs?

Becoming a solopreneur and focusing on only one business or product, gives you the flexibility, earning potential, and independence that entrepreneurship may not offer. Manasota View invites you to take a look at some things solopreneurs need to know so they can start — and boost — their businesses.

Photo by Ken Tomita
Solopreneur is a mixture of two words, Solo and Entrepreneur. It means that you are an entrepreneur that prefers to work alone or solo. If you are completely new to solopreneurship

Key 1: Online business services

When you’re running your new business out of your home, the internet and online-based services become the backbone of your organization. For instance, you’ll need a logo and design work. Contracting with freelancers for creative work is a great way to use someone’s skills to achieve your own goals. You don’t have to be good at everything — just find someone who has the skill you need!

Another online service you should consider is your application for forming a limited liability corporation (LLC). There are several distinct benefits of forming an LLC, including protection for your personal assets. LLCs are also easier to maintain, in general, because some corporate regulations don’t apply (e.g., annual shareholder meetings). Be sure to check what the regulations are for your state because they can differ based on location. The first thing you should do when creating, for instance, a Florida LLC, is come up with a name for your business, and then appoint a contact person for your business matters.

Key 2: Technology

Online services aside, you will need to turn to technology to stay focused, as well. You will need a website, email service, and a social media presence to make your business successful — and knowing what to look for in these tools will benefit you in the long run. For instance, social media management tools like Hootsuite or Sprout Social offer single-pane information about all of your platforms, allowing you to keep an eye on your metrics and interact with your followers while scheduling content and maintaining a brand presence.

Technology helps you meet your customers where they’re at. Many marketers say customer experience is becoming the thing they focus on the most, and delivering a quality customer experience is dependent on adopting newer technologies. This in turn helps you be competitive with some bigger firms — not to mention innovative. Using the latest technologies can help you save money, as well.

Key 3: Office space

Another critical aspect of being a solopreneur is having the right space set up to support your business. Home offices are, among other things, convenient and affordable, since you don’t have to pay rent on a commercial space. Using part of your home for only your business can also help you boost productivity by helping you separate work life and home life — freeing up your brainpower to devote to your business when you are physically in the space you use for work.

Dedicating true space in your home to your work is one of the most important things you can do as a home-based business owner. If you don’t have the right space in your current abode to devote to your new project, consider moving into a bigger or differently designed home.

Go forth and create!

You’re a self-starter, and creating your own home-based business as a “solopreneur” is going to be a great adventure for you as you follow these tips.

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