::Ring Ring Ring:: Hello? Hi Opportunity! No thanks, I rather limit my earning potential and add more stress to my life by doing everything by myself. Thanks anyway!
Have you ever had that conversation? I bet you have. At least subconsciously you have. You know why? Because we’re all selfish. It’s ok, I’m pretty sure that’s how we’re hard-wired to be. Don’t believe me? Fine, I’ll test you out…
Cut all your income in half for the next 3 months and team up with me.
Ah ha! You won’t do it will you!? Of course not!! Why would you, I haven’t even offered you anything! But that’s not the point.
The point is there are a bunch of Solopreneurs out there that want to take on everything by themselves, and when they become flooded with work, they either stress themselves out, or pass.
I can’t blame them though. Solopreneurship is a completely different world. Difficult yes, but it has its payouts.
Life of a Solopreneur (Internet Style)
You wake up. Drink your coffee or tea or whatever morning ritual you have. Now its off to work! Check your emails, make sure bills are paid, answer any quotes you may have. Get to work. Work. WORK. Answer more emails. Hop on twitter, etc.
Solopreneurs take on EVERYTHING, bills, work, quotes, emails, support, project management. It’s very hard.
However the payoff can be great. $3000 here, $2000 there, and you don’t have to split it with anyone.
That’s the hard thing to separate from as a Solopreneur. The control and the money.
You’re leaving money on the table though!
As a solopreneur you’re truly limiting yourself.
How so Jonathan?
You can only really do so much as one person. Not only that, you limit your potential income!
I have projects coming out the ying yang! I have to spend time sorting through the emails and answering what I need to in order to maintain my income. I have to spend time working on the projects in order to collect. I have to stay on top of clients to make sure they pay on time (not all the time). I can’t watch the internet pass me by so I need to set aside some time to learn and continue to educate myself.
I can’t get to all my clients and quotes, my project management quality may suffer. Form some people, I may have taken a bit too long to contact them, and now they’re no longer interested.
So many things can happen in this situation. I think stress and mismanagement are 2 HUGE factors that affect solopreneurs.
Team it up!
At some point, doing everything by yourself is going to get tiresome. You may get burned out, lose motivation, move on to other things, etc. It’s not a good thing.
Look at the way an agency works. If you were working at an agency, you wouldn’t be charging a client $3000 to do a job. The agency would. You would then get a cut of that. It could be in the form of commission, salary, per project, whatever.
The good thing about the agency is the fact that it has it’s team members, all with their own roles, responsible for certain things. Why is this important?
With a team, you have unlimited potential.
Let’s take a full year, 1 designer, 1 developers, and a sales person / PM. If the agency signs 24 clients for the year at 5k, that’s 2 clients a month and $120k for the year (and I’m being modest). Amongst 3 people, that’s $40k/yr not including residuals or additional work/updates.
By yourself, you can probably make that or more, BUT you’re forgetting that the weight of the world would be on your shoulder! Imagine taking on 2 $5k clients a month by yourself, managing expectations, trying to grab other clients, still doing your day to day.
Could you do it? Probably. Would it be hard? Absolutely!
A team effort adds collaborating minds, ideas sparking, new products, etc. You can pass off parts of projects to your team, or work together to build something awesome!
One person doing everything just doesn’t have those options. It’s hard to bounce ideas off of yourself, or off your spouse who may not even understand what you do.
I’m not saying one person can’t be successful. I’m not saying that at all, but I’m saying open your mind and think of the possibilities you can achieve by adding to your team of one, and focusing on the things that you love to do!
Do you face any roadblocks or stress adders in your solopreneurship journey? I’d love to hear about it! Share in the comments.