The Entrepreneurial Journey

The Solopreneur

Many people are touting the rise of the “solopreneur” as an ideal, optimal business model for the foreseeable future. I agree that this is an effective model and can benefit people by allowing them to break out of their 9-5 work routine. However, going solo versus building a team has some pros and cons. Honestly, I’m agnostic and think both are great. But it depends on your goals and how big of an impact you want.

Working as a solopreneur, lone wolf is usually the way we all start when we either A.) leave our job to go into business for ourselves or B.) start the side hustle that we hope leads us to option A. Like many others, I started consulting and have relied on other freelancers to help me scale. I work remotely, thus keeping my fixed overhead costs extremely low. Virtual contractors also minimize my payroll expenses (i.e., I’m my corporation’s only employee). However, my long-term plan is to have a team of employees. I have my future organizational chart mapped out (more on that in a future blog).

Building A Team

The reason I want to build a team is multifaceted.

There is stronger camaraderie among a proper team that works for the same organization. When resourced and led well, an organization can significantly impact more than one person. It’s not easy, but maximum impact is had from healthy, high-functioning teams. As the famous saying goes, “If you want to go fast, go alone; if you want to go far, go together.” I believe that is accurate.

When the tide rises, so do all the boats in the harbor. It’s a cheesy metaphor, but it’s effective. My endgame is not just to accumulate wealth for myself. I want to provide more opportunities for myself and my family and take others along for the ride. I want a bunch of boats in my harbor, so whatever successes I can lead have a multiplier effect.

My Long-term Vision

To be transparent, I’m not there yet. But I have the mindset that’s guiding me. If I didn’t have the long-term goal to build a proper company with teams and employees, I would aim far lower in my goals. So I guess it’s twofold: having the goal of creating a team motivates me more than singularly seeking my benefit (and don’t get me wrong, I want to benefit, too!) while building the foundation of a company ecosystem that benefits others. That could be profit sharing or good benefits packages, but I don’t know yet. But I know I’m pointed in the right direction.

In the end, I believe we’re blessed to be a blessing. 

If you keep that mindset, you’re bound to keep moving forward.