5 Ways to Maintain and Improve Solopreneurs

Expressed opinions Entrepreneur Contributors are their own.

Recently, my wife quit her job and started her own coaching and counseling practice, Alexasia Coaching & Consulting, to help guide people on their personal liberation journey and to realize a sense of freedom and truth. Like most lonely people, he is passionate about his purpose and fully committed to succeeding in whatever he chooses to do. I was very impressed with her ability to solve problems and do multi-tasking, but it made me realize how challenging a lonely experience can be.

Although not all entrepreneurs are entrepreneurs, not all entrepreneurs are individuals. For example, when I was creating Lumanu, I had a team of investors, advisors and employees to rely on, where my wife works as CEO / CFO / CTO / CMO all wrapped up in one package. I have engineers to help make our products, but my wife’s products themselves. He is not only the founder and creator of his business, but he is also fully responsible for producing and delivering his services. Comparing his experience with mine has opened my eyes to how privileged I am as an enterprise-supported founder.

Related: There are 4 differences between working alone and being an entrepreneur

With more than 41 million American adults currently working alone, many of whom participate in the creator economy, single individuals will continue to be the driving force of future economic success. In the past year alone, YouTube has paid $ 30 billion for single producers. And that’s just one company. But how can lonely people maintain this level of speed?

1. Access tools according to their needs

My wife’s greatest asset is her time. But to make the most of his time, he needs technology and tools to help him – and his business – thrive. One of her favorite tools is Kajbi, which she uses to build her website and to develop and sell online educational classes to target clients. Canvas is another essential resource that helps him design compelling content and materials from scratch – from e-books to graphics. One of the great advantages of such tools is that they can be used by individuals to meet their business needs, streamlining the number of apps and platforms they need to visit on a daily basis.

2. Make sure personal and business finances are kept separate

My wife has spent a lot of time deciding to open the best kind of business banking account. He had to pay for the unlimited number of ads, sponsored content, and games to get there, but he knew that proper financial setup was important for budgeting, expense tracking, invoicing, and accurate financial reporting. Eventually, he ended up using the Lumanu app to manage his invoices, payments, financial and business banking.

3. Take care of your physical health

Getting healthcare coverage as a single person can be extremely difficult. Although there are new regulations that reportedly make it easier, single people often only qualify for personal insurance, which limits the number of HMO plans to choose from. And if you miss the open enrollment period, you can go up to one year without coverage. One of my acquaintances has even removed her marriage timeline so that she can get healthcare benefits!

Related: 12 things that are great about being single

As the Creator’s economy continues to evolve, it will be important for companies in this space to provide healthcare to creators and individuals alike. Platforms like Substack offer health insurance stipends for authors who use the platform and earn $ 5,000 per year. And I think over time we will see more companies that will extend this benefit to their customers.

4. Prioritize mental well-being

Most lonely work lives can be lonely and isolated. Inevitably, there are ups and downs in running any business, but especially for single professionals, it is important to have the resources to help manage the following times. Whether it’s taking classes, starting a fitness routine or joining an industry or professional team, mental health is worth the effort.

5. Create a community

One of the most important things that solopreneurs can do is network, but it’s easier said than done. When I spend time on networking, for example, I have a whole team to keep things moving, but the hours that a single person spends on networking are not what they spend on direct business. How can single professionals keep the best balance with the need to expand their community while moving the business forward?

The good news is that there are a variety of great professional networking platforms out there. In addition to LinkedIn, platforms such as Discord and Reddit can help solo individuals build strong networks and engage with like-minded communities in a fun, non-judgmental environment. Thus through networking, individuals can easily access resources for business-building and even for potential customers.

Related: Community is the culture of the best company

I learned a lot from watching my wife in action. Excluding the differences between our two journeys, the biggest thing I’ve learned is that everyone has their own process for starting a business. Not everyone follows the same playbook or business planning process, and it’s important to respect the path you choose. Whether you choose a single path or not, as long as you have passion and purpose, you can have a positive effect on the world.

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