Entrepreneurship V/s Soloprenuership. Which is better for you?

It's a war and getting worse every day.

Some people are criticizing solopreneurship while some solopreneurs say being an entrepreneur is a hassle and a bad option.

Yes, not everyone is alike and that's the point.

My goal is not to make you believe in being a solopreneur or a CEO and Founder of a company.

My only goal is to let you know that you have choices.

It depends on what attracts and suits you better.

So here are 7 major aspects that can help you decide your thing in this game.

1. Do not think of Extremes

It's simple to get caught up in popular stories, trends, and memes, especially when they're all over your Twitter and LinkedIn feeds.

These days, being a solopreneur is either praised as the dream life or criticized as a crazy, unattainable ideal.

In fact, though, neither of those two extremes shows what it's really like to be a one-person business.

You can be a solopreneur, which means you run your whole business by yourself.

It has its challenges, like learning a lot of different business skills, handling a lot of different jobs, making good systems, and sometimes feeling lonely.

But it also gives you more power and authority than anything else.

2. Working Alone V/s Delegating

Where solopreneurs hire temporary contractors when they need it, an entrepreneur can put together a team to help him make his idea a reality.

But it doesn’t sound like

"Just hire some people!"

It is a bit challenging and complicated because you’ve to juggle between a ton of different things.

It's not easy to hire people, have tough talks, set holiday rules, give benefits, handle pregnancy and family leave, deal with legal problems, fire people, etc.

I've been in charge of teams of 50 or more people for ten years, so I know what problems to expect.

3. Single product or service vs. many choices

Entrepreneurs can grow their businesses to offer a wide range of goods and services, while solopreneurs focus on just one.

For example: An entrepreneur starts a digital marketing agency that offers a wide range of services like graphic design, editing, video marketing ads, etc that are done by his employees hired by him full-time or part-time.

A solopreneur, on the other hand, might offer graphic design services. And do graphic designing only with expert tools. He also hires some contractors if he needs help.

4. Chances for growth

Due to the fact that they work alone, solopreneurs naturally have limits on what they can do. They want a small business that they can run easily and get work done.

An entrepreneur can go anywhere because they can hire more people and people work for them. As a result, they make more money.

An example would be a restaurant owner who wants to open a second business.

5. How much time investment

Most solopreneurs work other jobs while running their business, especially at first. A lot of the time, an entrepreneur gives their business their whole attention.

A solopreneur's business may only make up a small part of their income, and they only work on it when they have free time.

6. Space for an office

Simply put, most solopreneurs don't have the room that workers would need because they work alone.

On the other side, entrepreneurs need a more complicated work area. For instance, they may need room to make or store goods or for other workers. A business owner may also need an office to meet with clients and make a good impression.

7. People who invest

Most of the time, solopreneurs don't need partners to start and run their businesses; they just use the resources they already have.

Entrepreneurs usually want to grow their businesses, which means they need more money from partners at the start and along the way.

In the end, the right road is the one that fits your ideals and goals.

Want your own space and time without having to deal with employees? Start your own business if you want to. Be a solopreneur!

Want a one-of-a-kind chance to grow your business to $10M? You might find what you're looking for in traditional business ownership.

Or maybe it's neither, and working for a company until you leave is the best thing for you and your family.

Always do what's best for you. Don't let public opinion or hot themes decide what you do in the future.

You can pick your own road, so make it count.