The $100 MBA Show MBA905 Solopreneur vs. Entrepreneur
There’s more than one way to start your own business. When plotting out your entrepreneurial path, it’s important to establish something early on: what kind of independent business person you are.
Would you make a better entrepreneur, or solopreneur?
Maybe you’re the type to go it alone. Maybe your product is best produced, marketed, and sold by its creator. In that case, solopreneurship might be the path for you. If you love leading a team, and your product requires diverse skill sets to bring to market, entrepreneurship could be the way to go.
It’s important to start thinking about this now, especially if you’re at the beginning of your business journey.
Your own talents and skills, plus the nature of your product and business goals, need to be carefully considered. Many factors determine the best way forward, and it’s crucial to choose correctly.
That’s what today’s podcast is all about: helping you decide what will work best for you.
Let’s be clear — neither solopreneurship nor entrepreneurship is better or worse. Neither is easier or more difficult. These are two very different, but equally valid, ways to build a business. In fact, our host Omar has found success with both approaches, depending on the kind of product and the goals for the business.
Some entrepreneurs even start as solopreneurs, building their brand on their own until it grows to the point where it takes a team to scale up. Some solopreneurs go it alone all the way to the top, reaching 6-figure incomes without hiring a single employee.
As they say, it all depends.
Both options have their advantages. Both have their challenges. Today, we want to explore all the ups and downs of both, so that you can apply this knowledge to your own business ideas. By understanding the strengths, risks, and unique factors of each approach, you can optimize your chances of success. Whichever you choose, though, it’s important to choose as early as possible.
This episode offers a comprehensive explanation of solopreneurship, its practical differences from entrepreneurship, and concrete, actionable steps you can take to move forward with this information in mind.
We don’t just want to help you get started; we want to help you get started with every possible advantage. That begins with defining your approach to business with clarity, specificity, and forward-facing vision. With that accomplished, you can move on to building your audience, creating your product, and shaping your strategy towards achieving the lifestyle you want.
Tune in, compare and contrast these two approaches, and get ready to take action. Click Play!
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