Flying Solo: The pro’s and cons of solo-preneurship

On a frigid Friday morning  I wrapped my scarf artistically around my neck (fashion above warmth of course) put on my gloves and grabbed the car keys …nothing unusual really except for the fact that I’d not left my house in four days – yes I said four days!

Did I have an excuse? No.

I was not sick. I wasn’t home caring for sick kids (I’m an empty-nester) or a sick husband. I’d simply not had any reason to leave my cozy house in the Catskills. The house had groceries, Rick the wonder-husband (RWH) saw to that. My meetings were all on Skype or telephone and my office is anywhere I put my laptop.  So there you have it – my life as a solo-preneur…home for days on end just me and my quiet office partner Cooper (dog).

While a week like that is a bit extreme, it’s not uncommon for me to be home for a few days at a time with no reason to go out in the world beyond walking my dog in the back woods. And for the most part — I love it because I’m very independent, and a true introvert.

Before you quit your job and set up the spare room as “start-up central” there are few things you should know about being a solo-preneur  because like everything else in life it comes with pros and cons. I’ve been flying solo for 25 years and for me it works…will it work for you?

Solo-preneur Definition: an entrepreneur with NO staff . No boss, no business partner…maybe some hired contractor or a virtual assistant.

I’ll start with the Cons because I learned as a teacher you should end on a positive note.

CONS

• The buck stops with you
• You have no one to boss around unless you look in a mirror
• No water-cooler office gossip (maybe a Pro)
• No lunch breaks out with colleagues
• No holiday parties to get ridiculously drunk at and embarrass yourself (maybe that is a Pro)
• Speaking of holidays…no holiday bonuses
• No performance goals to meet , if your not self motivated…watch out
• It can feel VERY isolating and alone at times
• No brain storming sessions with partners
• No sounding boards for problem solving
• Entrepreneurship in any form is rarely a sure thing – but then again either is a job
• Unless your spouse has health insurance, it is a big expense –  any entrepreneur problem, not just solo-preneur
• No excuse to go to Starbucks every day for a triple- grande-skinny-mocha- no whip

PROS

• No one tells you what to do but the IRS and your attorney
• You keep your own hours – they are usually long, but still they’re yours
• You can tell yourself every idea is brilliant
• You can work at home
• You control your vacation time
• Eat lunch or snacks whenever you want
• Facebook and online shopping are not monitored
• You can give yourself a raise – the harder you work the more money you make
• You make the final word on big decisions…no need for a team consensus
• No horrid office “muzak” –you can play whatever you want on Spotify!
• No holiday parties (see cons)
• You can develop, grow, explore new ideas and take risks — get your blood flowing!
• You don’t have to fly solo forever..think big and bring in partners
• And why I love being a solo-preneur (also called a MomPreneur), is that I get to work in my yoga pants every day if I want and really yoga pants are just PJ’s for grown ups!

 

Entrepreneurship is not for the faint-hearted and the decision to fly solo deserves even more consideration, but while you may take off  alone you can reach out for support along your journey.