Increasingly more corporation employees prefer the path of solo-preneurship. For some, there is a constant feeling that, while working under a huge matrix, there’s no impact or influence on success of the firm. For others, there is a constant need for more freedom in both business and personal lives.
While solo-preneurship has a nice ring to it, it’s a path filled with strengths and weaknesses; opportunities and threats, which requires a greater amount of introspection upon the decision-making process.
Strengths of a Solopreneur’s Path
It’s amazing to be your own boss and a great change of pace from having to always report to somebody. Being a solopreneur means you can be as creative as you wish, while choosing the type of clients and opportunities that best match your own personality.
The latter is a big plus: you can focus on your passions and deliver 10 times better work; you can be more productive and dedicated; you’re doing it for yourself.
“Just don’t give up trying to do what you really want to do. Where there is love and inspiration, I don’t think you can go wrong.” ~ Ella Fitzgerald ~
Being responsible for how you spend your time is amazing, whether it is the amount of time dedicated per task or the free time left at your discretion. When you are in control of your own life, you have a better chance of growing.
There are plenty of reasons why solo-preneurship might just be the right thing for you, but I’d like to let you be the judge of that after reading about weaknesses and threats. In the end, this path isn’t just joy and freedom, it’s also hard work.
In any analysis of strengths, weaknesses, opportunities and threats (SWOT), the weaknesses come from within the company. In this case, you. My dad often says “you are your worst enemy”. He is right. You might just be.
With freedom comes responsibility. Now there’s no one to blame for any errors in the structure you create, apart from you. Being responsible means not slacking off; get ready to work ten times more; get ready to face reality.
There’s no other way of owning it unless you are true to yourself. And most of the times, being honest with yourself is the hardest thing to do.Your weaknesses become your limits and you have to learn how to overcome them.Click To Tweet
Most of the time, it’s all on you and you have to make every second worth your while, in business and in life. Your failures and successes can make you weak, afraid or even ignorant. But no matter the process, the outcome determines if you are weak or powerful. So make the outcome count.
Seeking Out Opportunities
Clients out there are within your reach and your opportunities stretch only as far as you believe you deserve them. As long as you keep growing, new business partnerships will fall for you. This is where we speak of Self Management.
Opportunities arise if clients are happy; and word of mouth travels fast in the business world. Take into account that a great impression sells more than an ad.
The Threats Out There
Last but not least we speak of threats. One of the most important departments in any company is the Legal Department. As a legal entity that emits invoices, you will be faced with a lot of threats and challenges.
One of the most useful and dangerous environments is the Internet. Closely linked to it is the online reputation system, where names are built or destroyed in a matter of seconds. Experts at Cardinal Law advise:
“Online reputation management might prove difficult for the solo-preneur in a world of constant competition. It is advisable that solo-preneurs and freelancers read the Terms of Services of every product they use and develop a ToS document of their own when working with clients, customers or other brands. This is a great way to protect the intellectual property, as well as to defend yourself against angry clients or anyone out there who wants to trash your online reputation.”
Having a strong binding contract can prevent you from having any issues with a potential attack on your image. This aspect is vital and should be treated as such. Having a system for online reputation leaves no room for cutting budgets, while offering a comfortable legal protection.
Threats can be prevented with proper planning, risk identification and strong mitigation plans. Opportunities can be seized and turned into long-term business relationships. As for strengths and weaknesses, don’t ever let yourself be your own worst enemy.
Do what you need to keep yourself upbeat, healthy and motivated in order to succeed in achieving your goals. With all these at hand, solo-prenurship can be the best choice you’ve ever made.
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