The pandemic world is witnessing the rise of solopreneurs. The bravest are forging it on their own by becoming a solopreneur, and it is a thrilling experience. People are quitting stable jobs, joining the great resignation and turning solo entrepreneurs. 2022 might be your best time to become a DIY solopreneur.
A solopreneur is simply a business owner who works solo. The solopreneur moniker is a mashup of the words “solo” and “entrepreneur.” You could be an independent professional, a blogger, an e-commerce store owner, or even a hairdresser, a makeup artist. The way we work is changing, and solopreneurs are a solo, one-person operation. Solopreneurs are entrepreneurs, new-age start-up heroes, writers, bloggers, artists -- social media is also witnessing the rise of solopreneurs.
Becoming A Solopreneur
Says Neha Vij, candle designer and candle entrepreneur, Founder of Auro Candles, "I started making candles and it turned into a lucrative business. The idea was to provide natural luxury products and fragrances which were safe to use in relaxation. The pandemic triggered everyone to rethink their entire lives, providing a unique window of opportunity to offer new and exciting products. The wellness segment was great place to be in, my products are environment-friendly and sustainable,” she says. “I started doing well selling my therapy aroma candles. It is the best time for finding success as a solopreneur. Auro fragrance is a home fragrance brand based in Agra. I make the purest essential oils. Being your own boss is an ultimate feeling but you also have the responsibility of setting the standard, values, goals of your company. As a solopreneur, I am free to create my own opportunities. You have to solve all your business problems on your own, and everybody has his/her own boundaries which at times can lead to loose inspiration and get overwhelmed by responsibility. Women have an in-born talent to plan their expenditure according to available finances, that makes them wise entrepreneurs to run their business."
Solopreneurs are superbly focused. Their business usually caters to a specific niche. Says Archana Kumari, founder, House of Badnore, a brand that uses heritage as their USP, "This is the best time to find the courage and experiment with the new. I founded -- House of Badnore just before the pandemic. I believed a new world requires a new language. For vintage to remain relevant, it must be redefined and rearranged with modern voices and choices. HOB as the torch bearer of an elegant heritage brings forth a plethora of accessories for men, women and home, mostly inspired from the past but re-interpreted in the language of contemporary luxury. With my past experience, I have shaped my entrepreneurial mindset. Multi-tasking, people skills, strategic communication, branding and ideating are key to being an effective solo entrepreneur, as also having a keen consumer insight, which helps in quick turnarounds of firming up the sales pitch. Working with transparency is the business mantra that works for me."
These individuals have strength over every part of their operation, from raising capital to delivering their product or service, which gives them an unprecedented amount of control. Says Tejal Bajla, co-founder Allthingsbaby.com, "Desperate times call for creative measures. This holds true for the pandemic-fuelled rise in both entrepreneurship and solopreneurship. The pandemic’s job losses, stay-at-home setup coupled with childcare and household responsibilities have compelled many to pivot towards entrepreneurship. Women especially have been hit hard and for many the pandemic has become an opportunity. Home Bakers, fitness instructors, life coaching, influencers & consulting is where we see a serious rise in solopreneurs. For someone forging out on your own, there isn’t a better time than now. With the world becoming so digitally small and savvy where Instagram sales revenues often surpass those of a retail outlet, a business owner, can now reach out to a large and wide audience using just a device with a clear strategy & budget. My top three mantras for solopreneurs:
1.Start with something that you are truly good at or have a passion for. If you are already good at it, you won’t take very long to become the best.
2. Have a broad plan in place with budgets. That allows you to spend/invest the cash wisely especially in the early days.
3. Network and don’t fear asking for help, especially if you are a Solopreneur. But be prepared for the challenges."
Take Risks
Every solopreneur will have to have an appetite to take risks. You will give to move out of a comfort zone. The current world is challenging, solopreneurs will need to be tough. Taking risks is all about being friends with discomfort and being uncomfortable. Says travel entrepreneur Aditi Balbir, "The pandemic has forced people to rethink, the rise of digital workplace, new ventures and funding has given many the confidence to take risks with new projects. New solopreneurs must embrace the digital economy -- use virtual tools and management systems to run your business. Selling can be as easy as setting up an instagram account. Join networks, become a powerful risk-taker. Challenge the status quo.”
Be Focused!
Becoming a solopreneur is an uphill job. Don't get distracted. Keep your focus. Sakshee Rajat, founder Skinmush, started making organic soaps. Her instagram account l_artenciel made her a huge success, she expanded to making organic body butter, candles. "Slowly I started getting corporate orders. I made 30,000 a day in offline exhibitions,” she explains. “Focus is the key. Don't let small disappointments derail you. Create a mind-set that will keep you determined."
Choose Your Mentors
Your mentors can make you. You need someone to help you bounce back, get ideas and guidance from. The right mentors will make you successful. Create your inner power group. Keep your self-confidence high.
Be Flexible
The big secret of solopreneurs is their willingness to remain flexible. Rigidity can slow your drive. Flexibility allows you to own your ideas, and own your success. Keep in tune to the demands of the market and your clients. Flexibility will allow you to control your personal branding.
Personal Branding
Solopreneurs will thrive on their personal branding. As a solopreneur, you are the business. You are the brand. Any decisions or strategic changes you choose to make don’t affect anyone else except you. Songy Knox, author of How Do You Want To Be Seen, says, “This is the time to brand yourself. To put yourself and your work out there as an entrepreneur. It's more important than ever before with the pandemic to be SEEN. We can no longer rely on in-person connections and relationships. This means, we need to have a more clear message that we can deliver online. We need to be more mindful about how we show up - consistently.”