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Wednesday, 16 September 2020

5 Differences Between a Solopreneur vs Entrepreneur

If you work independently and have a great business idea while seeing it through from concept to execution? If you have answered yes to these questions and dream of being your own boss, you may enjoy working as a solopreneur.

Solopreneur job examples include:

      1. Freelance writer
      2. Virtual assistant
      3. Accountant
      4. Social media manager
      5. Graphic designer
      6. Consultant

Career opportunities for solopreneurs are on the rise. Many independent works report feeling fulfilled working solo than they did working for traditional companies. Also, they feel secure working independently as they would in a traditional job. With high job satisfaction and increasing opportunity for independent workers, embarking on a career as a solopreneur is a sought-after flexibility for those who want to create and operate a business around their lifestyle.

However, there is still some confusion between the difference between a solopreneur vs. entrepreneur.

5 differences between Solopreneur vs. Entrepreneur

We will be discussing further on solopreneur if you're wondering how being a solopreneur differs from traditional entrepreneurship. Basically, all solopreneurs are entrepreneurs but not all entrepreneurs are solopreneurs.

1. Solopreneurs are often both the founder and employee.

Someone who is a solopreneur manages every aspect of their business and does not heavily rely on delegating tasks to others to get things done. They are the founder and creator of their business and are solely responsible for producing and delivering the products or services offered to keep their business afloat.

2. Entrepreneurs often hire and manage a team

Separately many entrepreneurs start off running their business solo and eventually end up hiring and managing a team to carry out their business tasks.

3. Solopreneurs have a single business focus

Whoever chooses to pursue a career as a solopreneur are often not pursuing serial entrepreneurship. Solopreneurs tend to start their businesses to offer a specific niche offering and are focused on building a steady customer base.

4. Solopreneurs are not building a business to scale

For many entrepreneurs their goal in building their business to scale their company in an effort to sell or to build substantial profits. This is not the case for all entrepreneurs. For many independent workers, they are looking to create a profitable business they can continue to run, work in, and live off of themselves, and are not looking to grow an empire or to sell to another entity. In some cases, entrepreneurs.

5. Solopreneurs often have minimal workplace requirements

Because many solopreneurs offer a specific set of services that can be performed remotely, their workspace requirements tend to be minimal often only requiring a computer and an internet connection. Entrepreneurs on the other hand may have more complex workplace requirements depending on the nature of their business and size of their team.

Conclusion

As a business working together with solopreneurs vs. young startups have different merits and depend on your requirements and what you are comfortable to hire.

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