A common thread runs through many conversations I have with solo-entrepreneurs of service or consulting businesses. Many are making strategic choices -- which markets to focus on, how to position themselves and their products -- based on which choice offers the best potential financial payoff. So, what's wrong with that? It's a rational thing to do, right?
Not right. The important element in deciding how to position yourself as a solopreneur is to make decisions based on what you're passionate about. If you pursue Market A over Market B because B already has a lot of competition, even though B is what you really care about, that's a shame. There is no market so crowded or monopolized that you can't break through if you're smart enough. You don't need me to give you examples of companies and individuals beating the odds, because there are tens of thousands, millions probably. You know who they are.
As Jason Fried and David Heinemeier Hansson note in their new book, Rework, it's a waste of time to follow competitors' every moves. Doing so makes you follow their rules, instead of invent new ones and change the game. And changing the game in whatever market you pick is a requirement for success because, as Fried and Hansson say, you're not going to out-Apple Apple. Or if you're a musician, out-Gaga Lady Gaga (did you see her on Idol this week?!).
So, a couple of quick points to get you on your way if you're a startup solopreneur:
- Love it or leave it: If you choose a direction just because it looks opportunistic, but in fact you have no real passion for it, don't bother. Your lack of authenticity and your commitment only to the potential financial payoff dooms you to failure. You won't necessarily notice it, but the friction caused by the absence of joy in the pursuit, rubbing up against the endurance contest of building a business, will gum up your engine and you'll stall.
- Take the next step, and then another: If you do have the passion, and you don't care what anyone else says (except potential customers), then keep moving ahead. Don't worry too much about how fast you're going, just go and do. Make a little progress in the next week, and then a little more the week after that. Soon enough, momentum starts to push you forward. It works. It really does.
- Don't let the %*$(#@ get you down: If you believe it, go for it even if the odds look very long. Just make sure you can deliver in a way no one else can. If you don't believe it, don't torture yourself about it, just give up and go in a different direction. Life is too short to fight for stuff you don't believe in.
Have some helpful input for solopreneurs? Please share with a comment.
Good advice. Once I decided on the goal, I continue to follow it with a long-term vision. The market is particularly tough right now, but I am doing the work that will position me for success down the road.
Running your own business can be both frustrating and satisfying. You need the good bits to make the frustration worthwhile.
The best way to get the good bits? Do something you’re passionate about. So I agree, follow your passion it’ll be more fun and you’ll probably do better as we all prefer to buy from someone who is passionate about their product.
driven on one’s passion and never be bother over what other or simple majority (even inclusive of your spouse, your family members and friends talk about) comment over your move…in matter of time, things will happen the way the solopreneur intended within his/her mind.
follow your heart instead of listening to the external voices, coz they are not you, only YOU will know what YOU WANT!!
look within and answers are all there, just be still and be hold.
Thanks for the great advice… I am in the process of defining myself, my product, my brand and narrowing down my goals. It feels as if it takes forever (especially taking into account that I still have a day job as well)! I sometimes wonder if I will ever get there?! I try not to give too much attention to the competitors – trying to find my niche and being true to myself. Getting established (especially in the art market) is hard work and I love every bit of it – just hoping it won’t be in vain.
Excellent advice. I am living proof. For years, I “followed the dream” of potential financial pay off, even though what I was doing wasn’t really my calling. …and I failed miserably – failed not only to make any money, but also failed to make either business fly (yep, I’ve done this more than once). Now that I have recognized my true passion, I am once again building a business. But not just any business – one that I am truly deeply passionate about. One that is going to really change the world (at least the worlds of my clients.) My passion? Your success. Check it out what I’m talking about at http://www.YourTop10Goals.com – here’s to your success (and passion!)
I could not work the 80-hour weeks I do if I was not passionate about my work and my clients. I have turned down jobs that I knew I could not stand behind no matter how much income it would bring me.
Fantastic advice…. I am once again passionate about what I do… I coach small businesses. It hasn’t been an easy ride, but I can’t imagine not following my passion, even if I have to wait a bit longer.
My new found energy keeps me on track, plain and simple.. I hope to be a coach for the next 50 years of my life.
u can also make money by collecting number of number
An additional distinction I’d make: If you’re passionate about two different markets, then pursue the one that is larger and (most importantly) growing.
It’s far easier to succeed in a large growing market than one that is shrinking (in my humble opinion).
Ryan
good advice, even for people in business, when you are running you might lose track, it is good to read ,think and refocus