A New Theory: Freelancing Is Basically Entrepreneur Lite

When I started this newsletter journey over a year ago, I wrote a post titled ‘Remote working and a four-day work week is basically freelancing lite... '

You can read it here if the mood strikes you.

It's a short theory of mine that I stand by and still promote today, but this week, I would like to elaborate on that idea further.?

To give you some background, I have been running a freelancing business for 3 years, but in the last year especially, I have felt much more like an entrepreneur than a freelancer. For now, the lion's share of my business's income is still from freelancing. Still, I have been exploring other business models, such as trading, online education, and affiliate marketing.?

I'd be lying to you if I said this wasn't planned when I started, but freelancing always was (for me, at least) a way to test the waters of my other ideas. It was a way of answering questions I had a burning desire to answer.

• Could I set up a business by myself and run it successfully??
• Could I build my work around my lifestyle rather than vice versa?
• Could I grow into the business owner I was aspiring to be??
• Could I live and work in other countries on my own schedule?
• Could I grow the revenue year on year??
• Could I develop other income streams as I go???
• And could I find a way to affect those around me positively through a business??

Some of those questions are still being answered, but there is a term being bandied about now on social media called ‘solopreneurship’. A solopreneur is a person who sets up a business for which they are the sole employee. A solopreneur is both the owner and the workforce of their business. They are responsible for organising, managing, and assuming their enterprise's risks without a partner's help. Essentially, this is what a freelancing business is. You are a one-man band running a potentially very profitable (online) business.

Nowadays, I do have some significant help in marketing, and I am looking at getting more support for other things, but the risk and management of the business still fall on my shoulders and mine alone. I consider this solopreneurship (freelancing) to be entrepreneurship lite, hence this week's post.?

It is like the chill cousin of starting a full-blown business. It lets you scratch that entrepreneurial itch without the potential meltdown that comes with building a product from scratch or renting out a storefront the size of a small castle. You avoid the need to give up equity to secure capital and dodge the pains of hiring and being responsible for a bunch of employees. Think of it as dipping your toes into the entrepreneurial waters without the crazy risks. And the best part is that since you're not trying to build the next tech unicorn, you can still enjoy all the benefits of being a remote or part-time worker. You still get to create a life outside of work.?

You can work as much or as little as you want from wherever and with whoever. You’re in control of your income and can explore other business ideas without worrying about what employees, shareholders or investors think of your crazy plans.?

It is true working freedom that can be moulded to a lifestyle of your design. Before this turns into a full-blown love letter and an ode to freelancing, let me bring you back to reality again.?

Even with all these advantages, freelancing isn't a walk in the park. It requires hustle, discipline, and the occasional navigation of a "clientzilla" situation.?

But it's the perfect stepping stone for anyone with an entrepreneurial curiosity. Since you’re only testing the waters, you’re not going to leave a trailing mess in your wake like some of the infamous wantrepreneurs of late, ahem, Theranos and TFX scandals, both of which have great documentaries that I recommend.?

Freelancing might just be the business adventure you've been craving, or it might not, but it has definitely changed my life for the better.??

Want to see if you’re ready to embrace the freelancing lifestyle? Download my free ebook here: https://mailchi.mp/afccaff52a96/the-freelancing-revolution-ebook

Curious about whether freelancing makes financial sense? Try my risk calculator for free: https://mailchi.mp/8862aa51e803/risk-calculator.