The Myth of the Solopreneur - Business Advice for Entrepreneurs
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- Опубліковано 4 сер 2024
- The Myth of the Solopreneur
There is no such thing as a solopreneur. Why? Because no entrepreneur, freelancer, consultant or creative professional does it all alone. No matter how independent you want to be, or think you are, every entrepreneur uses a whole host of specialists, partners and professional services to build and run their business. So if you are thinking of becoming a solopreneur - start building that network of providers, because you are going to need it.
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This video is targeted to my channel’s audience of entrepreneurs, designers, creative professionals and anyone interested in brand strategy, business planning, design, trend, marketing and communications.
Philip VanDusen is the owner of Verhaal Brand Design, a brand strategy and design agency. Philip is a highly accomplished creative executive and expert in brand strategy, graphic design, marketing and creative management. Philip gives design, branding, marketing, career and business advice to creative professionals, entrepreneurs and companies on how to build successful brands for themselves or for the clients they serve.
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Being a solopreneur doesn't mean you don't need the help of others. It just simply means you don't need an employee.
100%
Correct
You don't need a full time employee. But you definitely need a person on contract.
@@azaannavid6868 No you don't, you just say No.
I actually tend to disagree. You can't do it alone if the goal is scale.. But one of the core tenets of solopreneurship is the wish to stay free, independent, flexible. And if that's the main goal (NOT scale), then one could remain solo forever. I'm at $10-15K/month, and I do EVERYTHING myself. No freelancers, no nothing. Super fulfilling, super fun, and with no desire right now to scale my business beyond what I can do as a solopreneur 🤗
Rued, Thanks for your thoughtful comment. I appreciate your voicing a contrary opinion in a diplomatic way - so many don't! Congrats on the success of your business - that's fantastic you have managed to do it all on your own - and find it to be sustainable. I work with a LOT of freelancers and coach dozens of "solopreneurs" and I have to say you are indeed the (fortunate) exception and not the rule. Many folks are not as multi-talented - or "V-shaped" in their skill sets to manage what you have. Kudos and thanks again for challenging my POV.
@@PhilipVanDusen This is also a wonderful and diplomatic way of replying from someone as experienced as you. Also, congratulations Rued!
Hello
Great feedback
What business are you into?
I am 10 years now as employe and going desperate and crazy to exist this rat race ! 😢
Very insightful video. Lessons learned:
1. There is no real solopreneur
2. Master my craft
3. Networking with a strategy
4. Benefits of joining masterminds
Of course Solopreneur Doesn't mean doing it alone. You will always need people to build nearly anything. But in this case you focus on outsourcing as much as possible, to the point where you don't have employees, or the less the better. For me Solopreneur ship is about automatizing and outsourcing your business to the point where you just reduce personal costs and risk.
The problem of being a solopreneur is depend where is your position if you want to scale a business. For example, if a person is a freelancer who is only depending on small time projects that can't give enough budget to hire someone, then in the beginning, you need to do everything from the start. From marketing to personal branding until someone gets to talk to you and close deal, then that could be the start of hiring a small team to help you.
Solopreneur is not a myth. I'm a living example. I was a solo, then a entre with 6 employee FTEs then a solo again, now scaling again on what is so far a 30 year journey. The experience has been a great adventure, traveling the world and an income in the top 5-10% of the USA.
Phillip has brilliantly identified the work of building your own personal brand in this video. So many helpful tips. Thank you 🙏
Glad you enjoyed it!
Hey Philip , that I agree. And this philosophy also keeps you grounded. Great Video.
Luvvvv this video, it's teaching me no one can be entrepreneur by themselves. You're always gonna need help. Thanks for the information.
You're so welcome!
This video was a blessing, thank you.
Rock on! Nice video. Thanks and stay safe Philip.
Thanks! Will do! You too Rick.
Thanks for this video Sir Philip! For 3 years-after quitting my job and starting a business, I thought that I was a "solopreneur" and can do all things needed. But as time goes by and since I have to scale up with the increasing demand, I realized that I wouldn't be without the help of my family and a couple of on-call maintenance. What I learned and will try from your video is that I should start expanding my network to the other professionals to further promote and maintain my personal brand. Thanks again!
You rock Reymond! Congrats on going solo.
Thank you for making this video it was very informative and answered a lot of questions that I had and even offered some thought-provoking ideas to me as well. once again I appreciate you making the video.
Great job sir
Thank you very much Philip for such a valuable content!
My pleasure, Valter!
Another great video. I like on the job training, advice and experience. Thank you.
Hey Vital Atadi! Thanks so much for checking out my video! I appreciate you taking the time to leave a comment. Keep tuning in!
Great content as usual! Thanks Philip 🙏
Appreciate it!
Really great content...we really are in this all together! Thanks Philip as always!
Daniel Hagy yep
Absolutely!
Good vid, but you forgot to mention that pulling those disciplines together and collaborating on ideas is one of the biggest joys of the process!
True!!
💯🏆
Yes! We need each other! Excellent!
You rock Peter Lewis!
Thank you I was feeling overwhelmed with the stuff I need to learn as a freelancer. Most job leads demand such a high skill set that is off-putting. I should just focus on my niche and get outside help
You got this!
I really needed this. Thanks!
So glad!
Absolutely true. I mean, who sends you a 10:99? How many do you receive? How many do you send out? If you can easily answer this question then you didn’t do it alone. Those are entities that you’re contracted with and they are helping you in your process by allowing you to use their resources for a price-or whatever the case may be. GOOD points here! I hate the word solopreneur. I feel as though it disenfranchises serial entrepreneurs who are out there just stacking income streams either passive or otherwise in less traditional ways.
Danielle, brilliant characterization of the role. We’ll said.
Thank you so much.
You're welcome!
My question is if everyone becomes a gig worker in software what is left for future employment, most of us need years of steady work in order to pay the bills today and tomorrow
This is so true
;-)
It’s actually not a myth. It’s just not common that people can pull it off… unless they’re artists.
Some of us bootstrapped our businesses. I am an artist, a writer, a designer, an Illustrator, a photographer, and I’m great at sales.
Now, it’s definitely great to have additional help. But, I think making it sound like you have to hire people or you can’t succeed.. .. well, that’s just false.
Perhaps the headline is a bit more about attracting eyes… it caught my attention.
However, me and almost all of my Artist/ designer friends are 100% solopreneurs. And, we’re proud of it! It’s been a massive learning experience… but, I wouldn’t change a thing.
PS. I highly recommend hiring a team when one can. But, in the meantime… grab some Business books, join some Facebook Groups, watch UA-cam videos, and dive in! 💞❤️💞
Thanks for the comment and for sharing your opinion. Most of us bootstrapped our businesses. But at some point - it you want to scale - then leveraging partners in SOME capacity is required. Even fine artists have gallery representation.
So true, but how do you get past that bit where you're doing everything you can, burning yourself out, knowing you need help, but only doing enough to keep the doors open - every dollar accounted for and then some - where does the help come from then?
Cam - I was in that exact position about 2 years ago. Personally I decided to make an investment and spend money I didn't have yet with the intention that the work that I could generate - from my increased bandwidth - would allow me to generate enough to replay the investment capital. Businesses have to do it all the time to scale. Is scary, but so is standing still and burning out. --- But another way to answer your question is: "your network". You can land bigger and more complex projects if you have additional partners who can expand your offering. And they only get paid when you do.
Just to clarify, if anyone can provide some advice, do you then need cofounders etc? When I watch a lot of videos they always mention cofounders. I strongly think they make that out to sound easier than it is. I get it if more than one person had an idea they wanted to build upon. But let’s say an individual such as myself had an idea I wanted to build upon, couldn’t I go and outsource the relevant tasks such as building a fully functional website before getting then getting another person or team to do some kind of marketing, hypothetically?
Samir, there is no reason to have a co-founder or a formal partner in your business. Partnerships are legally complicated and can get messy and expensive if they don't work out. I would highly recommend sub-contracting anything you can't personally do.
@@PhilipVanDusen Thank you!
What COVID will show all creative people is how much they are dependent on other people and not on their own transcendent look-mum-I-know-not-only-photoshop-but-also-illustrator-how-brilliant-I-am-ness. We want to work with others more than ever, even if we think of ourselves as solopreneurs. Life is with other people.
Pawełex very true. There’s a strong creative community out there
You rock Pawełex! Well said.
What courses are you working on?
A brand strategy foundations course - probably first. But I am doing a mastermind to road-test the concept with folks and will course correct as needed.
Where is the video about broadening talent outreach and building network , i need this critically as of now to be able to sustain, transition, and scale in this new climate as being inbetween creative agency / solo-prenuer myth !
Start here: ua-cam.com/video/mNyf4UeUfwU/v-deo.html
Damn you look dope
*fav comment of the week!...😇
How did u get all the special assistance without breaking your bank🏦 ?
Alex, I use partners in my agency - and my revenue covers my partners. Also, the work I hire others to do for my brand enables me (by freeing my time up and providing more marketing for my business) to get more clients, sell bigger projects and make more money - so I can compensate them. You can also barter with others - do something for them in return - if you have no cash or clients. I barter services with partners all the time.
@@PhilipVanDusen thank you!! :)
Here’s a great concept to live by: there’s an app for that!!
I bet you. If everything is as I planned I will be a soloprenuer
😎🚀
I wonder if you are interested in investment
I am a solopreneur. Maybe myth 😇 I also use developers and freelancers. But I am still the 100% owner of my solo business. I don’t have staff.
Hmm a myth? Maybe from your perspective and experience because in my case I’m doing everything myself lol 😂 I don’t have money to pay people to do things for me right now. I do script, Edit, film, blog, design, handmade,online shop, fulfill orders, Im a wife, mother and granny😅, content creator, financial, EVERYTHING LOL ect ect ect 😅 🤷🏻♀️
I suppose you could call most sidegigers a solopreneur.
Solopreneurship isn't a myth at all
It depends on the business model
You're talking about running an agency
So OF COURSE you need a team because an agency service requires multiple people in different roles to handle everything from marketing to fulfillment
That's the business model
On the other hand, I'm able to enjoy a number of income streams as a solopreneur because the business models don't require more people
I freelance, consult, sell info products, affiliate, send a 2-3x a week newsletter and run my paid community for solopreneurs all by myself
And I can scale through audience growth, stronger systems and automation
I don't need a team or employees to do any of those things
Hi Dennis, Thanks for your well considered comment. I understand your point and your business sounds remarkably like my own, including multiple income streams, paid info products, sponsorship revenue, a community, a newsletter, etc. But I think my argument holds water. I haven't built what I have built in a bubble, I have had mentors, subject matter experts, advisors, colleagues provide guidance and assistance paid and unpaid every step of the way, and that continues in my weekly peer mastermind as well. No one is an island - and many junior folks seem to think solopreneur means exactly that, when that, I believe is a fallacy.