{"id":233386,"date":"2021-06-18T11:23:51","date_gmt":"2021-06-18T18:23:51","guid":{"rendered":"https:\/\/4mperformance.com\/?p=233386"},"modified":"2021-11-30T21:18:29","modified_gmt":"2021-12-01T04:18:29","slug":"solopreneurship-grows-exponentially","status":"publish","type":"post","link":"https:\/\/4mperformance.com\/solopreneurship-grows-exponentially\/","title":{"rendered":"Solopreneurship: Grows Exponentially"},"content":{"rendered":"<div id=\"attachment_233388\" style=\"width: 619px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-233388\" class=\" wp-image-233388\" src=\"https:\/\/4mperformance.com\/wp-content\/uploads\/2021\/06\/Solopreneurship-Girl-working-alone-making-dress-300x200.jpeg\" alt=\"\" width=\"609\" height=\"405\"><p id=\"caption-attachment-233388\" class=\"wp-caption-text\">In Business For Yourself &#8230; By Yourself<\/p><\/div>\n<p>Most entrepreneurs begin as solopreneurs &#8211; a person who starts up and manages a business alone. Solopreneurship is thriving. At <span style=\"color: #800000;\">4M Performance<\/span> over half our new coaching\/consulting clients are solopreneurs.<\/p>\n<p>Freelancers, independent business owners, gig workers, whatever name you choose &#8211; solopreneurs are at the cutting edge of 21st Century employment and most are happy with their situation.&nbsp; In a recent study, <a href=\"https:\/\/www.upwork.com\/press\/releases\/freelancing-in-america-2019\">&#8216;Freelancing in America<\/a>&#8216;&nbsp; 50% of self-employed people stated that no amount of money could entice them to move to a conventional job.&nbsp;However, going &#8216;solo&#8217; has many specific challenges and requires lots of thought and preparation to succeed.<\/p>\n<h4 style=\"text-align: center;\"><span style=\"color: #800000;\"><strong>This Resource will help guide and decide if you should go &#8216;Solo&#8217;&nbsp;<\/strong><\/span><\/h4>\n<p>Solopreneurship is growing at a very rapid rate. According to Gallop, 36% of all U.S. workers currently participate in the Gig economy through a primary or secondary job. Why? Two primary reasons:<\/p>\n<ul>\n<li>Gain control over their careers<\/li>\n<li>Switch to an entirely new career<\/li>\n<\/ul>\n<p>Of people planning to go &#8216;Solo&#8221;:<\/p>\n<ol>\n<li>&nbsp;67% expected to make more money&nbsp; <strong>&nbsp;Reality:<\/strong> 59% realized that goal<\/li>\n<li>&nbsp;58% expected to have more career certainty&nbsp; &nbsp;<strong>Reality<\/strong>: 47% did so<\/li>\n<li>62% expected to have better health&nbsp; &nbsp;<strong>Reality<\/strong>: 55% do<\/li>\n<li>74% expected to work harder&nbsp; <strong>Reality<\/strong>: 59% ended up doing so<\/li>\n<li>43% anticipated less stress&nbsp; <strong>Reality<\/strong>: 49% had less stress<\/li>\n<li>69% expected a better life\/work balance&nbsp; <strong>Reality<\/strong>: 68% achieved this goal<\/li>\n<\/ol>\n<h4 style=\"text-align: center;\"><strong><span style=\"color: #800000;\">What Makes a Successful Solopreneur?<\/span><\/strong><\/h4>\n<ol>\n<li>Tolerance for <a href=\"https:\/\/4mperformance.com\/asp-products\/building-and-managing-a-digital-platform\/\">risk and ambiguity<\/a>. Solos must be risk-takers and have confidence in their abilities.<\/li>\n<li>Determination and stamina. Solos must have what it takes to run a business, be focused, and have the physical ability to work hard.<\/li>\n<li>Cultivate a &#8216;holding environment&#8217; or a place to work which is free from distractions and provides a base of operation.&nbsp;<\/li>\n<li>Have routines in place: workflow, schedules, to-do lists, etc.<\/li>\n<li>Purpose. Going solo is more than a means of earning a living, it creates a bridge between personal interest and professional needs.<\/li>\n<li>People and friendships. Solos have a tendency to isolate socially. This must be avoided. Interaction with family, peers, mentors, and friends must be a priority.<\/li>\n<\/ol>\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/4mperformance.com\/wp-content\/uploads\/2021\/08\/solopreneur-ship-website.jpg\" alt=\"\" class=\"wp-image-233731\" width=\"526\" height=\"350\"\/><figcaption>Being a Solo means a lot of work and late nights.<\/figcaption><\/figure><\/div>\n\n\n\n<p>7. Think globally. Digital platforms now provide for a worldwide market but also global competition. This forces solos to be uniquely differentiated.<\/p>\n\n\n\n<p>8. Must strive to provide traditional employee perks and benefits. Solos are prone to neglect having health insurance and retirement accounts. This is a mistake. <\/p>\n\n\n\n<h3 class=\"has-text-align-center wp-block-heading\"><span class=\"has-inline-color has-vivid-red-color\">Demand for highly skilled Solos in knowledge-intensive industries and creative jobs is huge.<\/span><\/h3>\n\n\n\n<p>According to the U.S. Dept. of Labor:<\/p>\n\n\n\n<ul><li>94% of business leaders plan to expand their use of skilled Solos in specialized roles<\/li><li>79% of CEO&#8217;s believe Solos provide a competitive advantage in terms of market development<\/li><li>47% of H.R. managers are looking to Solos to fill senior executive positions on temporary basis<\/li><\/ul>\n\n\n\n<p>The 5 Steps To Creating Your Solo Gig<\/p>\n\n\n\n<ul><li>Specialize in a particular area or skill. Don&#8217;t be a generalist, you want to be a specialist.<\/li><li>Search for anchor clients. Get gigs that provide a steady flow of income. This can be on a retainer basis or a regular weekly gig.<\/li><li>Develop a Pricing Structure. How and how much to charge is a challenge for solopreneurs. Don&#8217;t underprice your value and take on low-value gigs.<\/li><li>Stay relevant and educated. Plan on spending 10-20% of your time and resources on self-development and factor that into your pricing.<\/li><li>Create a Business Plan. Stick to it and revise it often. The business environment is constantly changing. What are your objectives? How are you going to achieve them? What resources are needed?<\/li><\/ul>\n\n\n\n<p>Solopreneurship can be very rewarding and lucrative. Value your skills and select your gigs wisely.  Good Luck!<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/4mperformance.com\/wp-content\/uploads\/2020\/08\/Desert-Safari-Facebook-Cover-1024x577.png\" alt=\"entrepreneurs memberships\" class=\"wp-image-229838\" width=\"696\" height=\"391\"\/><\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Most entrepreneurs begin as solopreneurs &#8211; a person who starts up and manages a business alone. Solopreneurship is thriving. At 4M Performance over half our new coaching\/consulting clients are solopreneurs. Freelancers, independent business owners, gig workers, whatever name you choose &#8211; solopreneurs are at the cutting edge of 21st Century employment and most are happy [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","episode_type":"","audio_file":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","date_recorded":"","explicit":"","block":"","filesize_raw":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[46],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Solopreneurship: Grows Exponentially - 4M Performance<\/title>\n<meta name=\"description\" content=\"Many entrepreneurs start out as solopreneurs. 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