SOLOPRENEUR vs ENTREPRENEUR
SOLOPRENEUR vs ENTREPRENEUR – WHICH ARE YOU?
The solopreneur vs the entrepreneur…
The legion of many – or the band of one?
So what is a solopreneur?
The solopreneur is the solo businessperson doing it for themselves. They are the one and only, single figurehead of their business – the whole kit and caboodle. From admin to finance, to marketing to customer service – the solopreneur does it all.
On the other hand, the entrepreneur may have employees and financial backers at their beck and call, building empire upon empire with the help of many. Attracting investors and plans of global domination are generally at the forefront with the business-savvy entrepreneur.
So which way is best? Is there a right and wrong?
Both have their advantages and disadvantages – and it all depends which way you want to go and what your business needs.
PROS AND CONS OF A SOLOPRENEUR
- You are responsible for every aspect of your business
- You have no staff to be accountable for
- Every penny you make is your own
- Your work capacity is limited to your own time and energy
- Your hours may be long but expenses are few
- Usually less start-up expenses as work is usually home-based
PROS AND CONS OF AN ENTREPRENEUR
- Usually larger in scope
- Usually require physical premises
- Dependent upon or attracts investors
- You can build a legion of employees
- Great potential for financial gain
- Greater risk
- Greater outlay
No matter whether you are a solopreneur or an entrepreneur – success is at the heart of everything you do.