For or Against? ?

Historically, the habit is to create a company with several people, in partnership with other people, with solid foundations.

However, for a few months now, the question of the feasibility of being a solo entrepreneur has been raised. It is time to analyze this possibility.


The benefits of being a solo entrepreneur

  1. You make decisions much faster Anyone working in a large company knows that working with many collaborators greatly slows down the decision-making process. When you don’t have to consult a whole team you can move forward much faster. Growth can also be faster since you don’t have to train other people, you don’t don’t waste time and you have the complete control on the integration of new features or even the change of direction of the company.
  2. Fewer hassles Indeed, when you choose a partner or a team member you hope that he is professional, on the same wavelength as you. However in reality, this is rarely the case, working with a partner or a team can bring you a lot of negativity and resistance or other hardships.
  3. More control Working alone also gives you more control on your business. You’ll be able to see the final product you’ve been dreaming of at launch and do things the way you wanted. In a certain way you will be more satisfied with your work.
  4. More profit This is probably the best benefit, at least from a logical perspective. When you are the sole owner of a business, you won’t have to pay anyone else or any dividends. This means, in the long run, you are more likely to get rich.

However, these benefits are perhaps minor compared to the advantages of working with others.

The disadvantages of being a solo entrepreneur

  1. The experience When working alone, you can only rely on your own previous experience, you won’t have partners to help you. In a certain sense, this means that you will have accumulated less expertise to solve problems potentials that you will face during your entrepreneurial journey and you will therefore find it more difficult to face them. Experience is also important for an investor. If you are not experienced enough, you may encounter some problems in attracting potential investors and gaining credibility. It will therefore be more difficult to stand out.
  2. Work overload

It seems obvious, but working alone on your business, your workload will be very consistent.

You won’t have anyone to rely on, no one to help you with administrative tasks, you won’t be able to delegate any important decisions and you won’t have anyone to entrust with the tasks that waste your time.

You will do EVERYTHING by yourself. You must be prepared to spend all your nights and weekends on it. So how long are you willing to invest?

  1. Different Perspectives

When making a decision, you have to trust your own logic; that doesn’t mean different perspectives don’t help.

On the contrary, most of the time, having different perspectives of a project will help you make the best decision.

It is also possible that your colleagues will open doors for you to possibilities that you would not even have considered on your own. You probably know this, but a team’s open-mindedness is priceless, so great is the wealth of ideas it can generate.

If you’re working alone, you risk getting trapped into convincing yourself that one idea is the best as you run into the wall.

  1. The stress

Never forget that being an entrepreneur is very stressful. Working closely with a partner or team member will allow you to release the pressure and have someone who supports and understands you throughout your journey.

You will rarely feel alone and hopeless. You hold together, helping each other.

So, is it possible to be a solo entrepreneur?

Yes, it is possible to be a solo entrepreneur since thousands of people have done it. However, you must be mentally prepared and have the necessary experience.

Indeed, you can only rely on yourself and your experience; by drawing a line under the team spirit, a lot of bold ideas and a certain credibility.

Are you still tempted by the solo entrepreneur route?

This is for you if you have:

  • enough experience
  • fund opportunities (investor contacts for example)
  • a preference for working alone

If not, don’t be afraid to ask for help and make your vision a reality together.