7 Internal Stages Of Solopreneurship – All You Need To Know!

Published by suchamatter.com on October 28, 2024October 28, 2024

Hey once again, I hope you all are doing well, if you are new here I talk all about, Career transition, Solopreneurship, and Mindset on this website.

Have you ever considered a career change? And Transition into Solopreneurship?

If not, this article might perk you to consider it.

In brief, solopreneurship is also known as the One-Person business.

For me, choosing to be a solopreneur had many reasons, like hating my job, hating my personal life, and hating the pay. It all added up and frustrated me to the point that I mindlessly Quit my Stable healthcare job to pursue the only thing I loved with all my heart, i.e., Writing. So here I am today, Learning constantly and earning enough money with all the time in the world to rest and spend relaxing sunsets with my dog.

If the above paragraph narrated your exact story, then I bet you’re in the right place. You can follow me on LinkedIn to get to know me better and grow along with me.

Let’s talk about the 5 Stages of Solopreneurship.

Table of Contents

• Stage 1 – Design a Rough Plan
• Stage 2 – Building Enough Content Material
• Stage 3 – Systemizing Tasks/Creating SOPs
• Stage 4 – Refine Goals
• Stage 5 – Create Passive Income Streams
• Stage 6 – Delegate
• Stage 7 – Stabilize Income
• Summary

Any Business comes with phases, and it becomes crucial to understand what they are as that will help you navigate through each of the phases and, let you have realistic goals and hopes.

Here are 5 Stages of Solopreneurship or the One-Person business

Stage 1 – Design a Rough Plan

See, It all starts with Dreaming, You choose a Kind of lifestyle you want to live and imagine what the most Ideal day in your life would look like.

See, having the right goal in mind helps you stay away from unnecessary options and unwanted opportunities.

Next comes the plan, Simple make a rough plan of what you are going to do to achieve what you’ve dreamt of, Having your Dreams and your Roadmap to creating it gives you the Necessary Push to believe what could possibly come true.

For example, for me, I had spent enough time in the corporate healthcare setup to finally realize that this isn’t the job I would be happy doing for the rest of my life, The more I push myself into this, The more I would feel stuck.

I knew I wanted to Write for a living, I had in mind that I wanted to ultimately be an Author. Hence during lockdown, I published my very first fiction Children’s book called “KIAAN – The Unforeseeable Journey of Mysteries” available on Amazon Kindle.

But!

That wouldn’t help me leave my Job Right now!

Writing a book, sending the synopsis for reviews, waiting for 6-7 months for a rejection, even self-publishing doesn’t guarantee you could make a living right away.

So, I hate to make a plan!

I wrote down my escape plan on how I am going to escape the 9-5 in the next 6 months.

I decided to start with a service-based business online, I chose one Platform for that, I produced content daily and marketed what I sold, Created a community of a few, and Got a few Global clients to start with.

My weekly blogging is what I’m depending on for the passive income in the coming months.

So, you could Roughly create a realistic escape plan for yourself and keep at it for a few months until it makes you confident to finally quit your job.

Stage 2 – Building Enough Content Material

Next up, comes your content. See, Creating an Online presence is very important if you want to be visible and want your business to thrive, simply choose a platform and create enough content over 60-90 days, That becomes very important to make a credible background to get a few clients aboard.

This stage can rip your motivation, so I would only suggest DO NOT depend on your motivation level, the more consistent you are the Closer you get to your goals, push yourself in a few days, until it becomes easy or a habit.

This stage is NOT to be skipped.

The content you create now can be used for you to educate, document, or even make a digital e-book to teach later on in your career.

Keep posting relevant personal stories and industry insights, Post about what you learn daily, and make personalized connections with people, Let them know you, and Let them keep wanting more details about you.

Stage 3 – Systemizing Tasks/Creating SOPs

Now, this is necessary when you reach a stage when you notice most of your daily tasks are becoming repetitive, for example, My weekly blogs, and everyday LinkedIn content, became repetitive for me, so I strategized days to create batch content to save some extra time for the week for client work.

If you find yourself doing something repetitive, Simply create Outlines, SOP, or a structure so it doesn’t take up too much of your time.

Stage 4 – Refine Goals

Now, that the escape plan was a hit, You are finally out of the 9-5 Rut, We need to. scale the business and keep it running in the right direction. In this stage we REFINE our Goals, meaning, We touch up our plan or even change the whole outline of the plan.

Now that you have spent enough time in your chosen niche, or industry, you may have a clearer knowledge about the business, you must’ve interacted with a few fellow solopreneurs in your niche, so it’s time to set realistic and strategic goals with clear period and clear revenue target.

Make an Excel sheet to keep track of revenue records monthly, quarterly, and yearly.

Make targetted Goals that span across monthly targets, quarterly targets, and Yearly targets.

Stage 5 – Create Passive Income Streams

This stage takes a while to reach but it all depends on what you do with your time right now. For example, I write blogs and E-books alongside my Freelance writing business, So, that I would have a product that sells itself when my audience grows in the future.

You could also choose to create a digital product after you’ve done enough work in your industry and built a credible community online, you could simply gather all the knowledge you’ve learned in your journey and create an e-book and help your community.

Simply remember One RULE in building a business.

Build a business with an INTENTION, PURPOSE, EMPATHY.

Never for money!

Stage 6 – Delegate

Remember why you started the Solopreneur Business in the first place?

To get more time? more life?

Isn’t it?

Once you reach a phase where there is Predictable revenue, and the Lead generation is almost automated, you now delegate a few services, You could share your client work with other professionals in your industry.

For example, If I promise a client for an SEO friendly Blog every week, Even though I am good at SEO, I would still focus more on the writing part and collaborate with an SEO expert to help me with the research bit, and to provide the competitive keywords, so I put all my efforts into writing the best piece, this way I will be able to serve a Premiere service to the clients and Charge accordingly.

So, the myth about delegating that it might get expensive, and we’d lose money is Wrong, as it’s actually the other way around, Delegating could actually help you refine your service and charge a better price to the client.

Stage 7 – Stabilize Income

Now that delegating helped you lessen the weight off your shoulders, You get time to Refine more of the strategies for your business, You could simply appoint a project manager to help you with the work, keep track of your finances and the scheduling, etc…

I wish you all the best I hope this helps.

Summary

Building a One- person business comes with way more freedom, and control over your work, But it also comes with 1000’s of distractions and downfalls disguised as opportunities, avoid making wrong, tempting moves, Starting a solopreneur business doesn’t need to be very expensive, start with services based business and expand it’s potential branches which you will figure out while you go on.

solopreneurship is all about

• Create an Offer
• Talk about it constantly
• Refine Offer/services with feedback
• Delegate as workload increases
• Enjoy Life

Remember, Business is Simple but not Easy. You need to have Patience and be ready to invest time in the boring part of the work with utmost dedication.

You could check out a few Articles I’m linking down here to help you more with your career transition phase, or your Step towards Solopreneeuship

5 Proven ways to change career midlife

The right way to change career for millennials

3 Things you need to know before you Quit 9-5

how to handle a rude boss

5 stage of solopreneurship by Justin welsh

How to be a solopreneur