Hyramroy

Solopreneur

A solopreneur is a person solely responsible for all aspects of development and implementation of his(her) business organization.

A solopreneur is an entrepreneur, with the essential, and distinctive, difference being that the solopreneur is a one person business. Some tasks may be outsourced, but the solopreneur single-handedly works for the business, runs the business, meets all its costs and enjoys all the profit.(1) Often the solopreneur “is” the business and may develop their own personal brand.

1. Background

The term “solopreneur” is a blend of the adjective, “solo”, meaning, “done without another person”, (2) and the noun, “entrepreneur,” meaning “one who organizes, manages and assumes the risks of a business or enterprise”. (3) Evidence suggests the term first began to appear online in 2005, and has since that time been used more and more frequently, partly on websites dedicated to the concept of solo entrepreneurship, and also as Twitter hashtag in social media.(4)(5)

The term “solopreneur”, like its counterpart, “entrepreneur”, has a related adjective, “solopreneurial”, and a related noun, “solopreneurship” (or “solopreneurism”).(6)

2. History

Etymology & Historical Usage

Although there is no definitive information as to the origin of the word, “solopreneur”, the first appearance online appears to be from 2005, on www.urbandictionary.com, with an entry by Gail Sussman Miller. (7) In 2006, the term was used in the book, The Spirit of Women Entrepreneurs: Real-life Stories of Determination, Growth and Prosperity,compiled by Ginny Robinson. (8) Marcia Merrill used the term “solopreneuer” in a copyrighted article she wrote entitled, “The 10 Dreaded Deadly Mistakes of a Solopreneur!”, which was being circulated as early as 2007.(9) Cindy Fortin is also credited with being one of the early adopters of the term, having used it on her blog, “Outside the Cocoon”, in 2008. (10) An article by Bettina Horvath, dated June 9, 2010, is entitled, “A Solopreneur? Who Came Up with That Name?”(11) Kerry Maxwell from Macmillion Dictionary, suggests the term entered mainstream vernacular in 2010. (12)

3. Definitions

(i) a business owner who works and runs their own business alone (13) (ii) an entrepreneur who works alone, running their business single-handedly They might have contractors for hire; but they have full responsibility for the running of their business. (14)

4. Demographics

The 4th annual 2014 MBO Partners State of Independence in America workforce study reported the following demographic statistics for solopreneurs.

a. 17.9 million solopreneur independent workers (regularly working more than 15 hours a week) were counted in 2014.

b. The average solopreneur works more than 15 hours a week, averaging 35+ hours a week.

c. 52% are male, 48% female.

d. In 2014, the solopreneur population rose 1.2% from 2013, a 12.5% increase from the base year of 2011.

e. The majority of solopreneurs work as independents on a full-time basis; 82% continue to be satisfied and 76% plan on remaining independent in the future.

f. Approximately 60 percent of solopreneurs report having multiple sources of income, and 20 percent report having a traditional full or part-time job.

g. Most began their own business : (i) To have control over their own schedule (64%) (ii) To have more flexibility with time & schedule (61%) (iii) Because they like being their own boss (57%)

h. The average age is 21 years or older. (i) 30% are age 50-67 (ii) 29% are age 34-49 (iii) 28% are age 21-33 (14)

5. Psychological Make-Up

The “2014 MBO Partners State of Independence Report “ notes that most solopreneurs place more importance on flexibility, control over one’s career and personal life, and autonomy than they do on money. “For example, only 36% of solopreneurs say they became independent to earn more money. But 61% listed, 'more flexibility', 63% listed, 'control my schedule' and 57% listed,'like being my own boss', as reasons they are independent.”(15) Men and women choose independence in equal numbers, but for different reasons. Generally speaking, most women tend to see independent work as a means to fulfilling work that fits into their lifestyle, whereas, for the most part, men tend to appreciate being their own boss and having the ability to maximize their income. (16) Solopreneurs may require less group support, a necessary trait when operating solo. They tend to focus on what they personally find important and often have their own standards and ways of measuring success. (17) “Their business and personal goals are tightly entwined and it is very common for them to pass up standard measures of business success (e.g. higher earnings) for their own feeling of “personal” success or needs (e.g. higher quality product, independence).”(18)

6. Economic Impact

The following statistics concerning solopreneur economic impact were reported in the 2014 MBO Partners State of Independence Report.

a. Solopreneurs have a significant impact on the U.S. economy, provide employment and financial support for millions of Americans and are a major source of new employer small businesses.

b. Solopreneurs generated more than $1.1 trillion in total revenue over the past year, spent more than $150 billion on non-payroll/contractor expenses and are the primary income source for more than 10 million American households.

c. One third of the solopreneur population spent $92 billion hiring the equivalent of 2.2 million full-time employees, via contract hiring.

d. 1 in 7, or 2.5 million, solopreneurs plan to build bigger businesses in the future. (19)

7. See also

entrepreneurship sole proprietorship

8. References 1. http://www.macmillandictionary.com/buzzword/entries/solopreneur.html 2. http://www.merriam-webster.com/dictionary/solo 3. http://www.merriam-webster.com/dictionary/entrepreneur 4. http://thesolopreneurlife.com/lets-connect-by-using-the-solopreneurs-hashtag/ 5. http://www.macmillandictionary.com/buzzword/entries/solopreneur.html 6. http://www.macmillandictionary.com/buzzword/entries/solopreneur.html 7. http://www.urbandictionary.com/define.php?term=solopreneur 8. The Spirit of Women Entrepreneurs: Real-life Stories of Determination, Growth and Prosperity,compiled by Ginny Robinson.Ginny Robinson, Perfect Paperback – December 2006 9. http://www.strategyavenue.typepad.com/strategy_avenue/page/5/ 10.http://reachingformore.typepad.com/reaching_for_more/2008/04/solopreneur.ht 11.http://www.mybizperforms.com/a-solopreneur-who-came-up-with-that-name/ 12.http://www.macmillandictionary.com/buzzword/entries/solopreneur.html 13.http://www.urbandictionary.com/define.php?term=solopreneur 14.http://info.mbopartners.com/rs/mbo/images/2014- MBO_Partners_State_of_Independence_Report.pdf 15. http://info.mbopartners.com/rs/mbo/images/2014- MBO_Partners_State_of_Independence_Report.pdf 16. http://info.mbopartners.com/rs/mbo/images/2014- MBO_Partners_State_of_Independence_Report.pdf 17. http://www.rudkins.ca/solopreneurship/ 18. http://www.rudkins.ca/solopreneurship/ 19. http://info.mbopartners.com/rs/mbo/images/2014- MBO_Partners_State_of_Independence_Report.pdf 20. http://www.huffingtonpost.com/news/solopreneur/ 21. http://www.entrepreneur.com/topic/solopreneur 22. http://www.entrepreneur.com/article/245766 23. http://solopreneur.ca/about-solopreneur/

9.Additional Reading

www.rudkins.ca/solopreneurship/ http://thesolopreneurlife.com/ www.forbes.com/.../ready-to-chuck-your-corporate-job-solopreneurship http://unsettle.org/guiding-principles/ http://2thenextlevel.com/blog/about/solopreneurship/

Hyramroy (talk) 15:39, 28 July 2015 (UTC)Hyramroy (talk) 22:24, 28 July 2015 (UTC)

Your submission at Articles for creation: Solopreneur (September 1)

Your recent article submission to Articles for Creation has been reviewed! Unfortunately, it has not been accepted at this time. The reason left by Onel5969 was: Please check the submission for any additional comments left by the reviewer. You are encouraged to edit the submission to address the issues raised and resubmit when they have been resolved.

• If you would like to continue working on the submission, go to Draft:Solopreneur and click on the "Edit" tab at the top of the window.
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Onel5969 ^{TT me} 19:14, 1 September 2015 (UTC)

Hello! Hyramroy, I noticed your article was declined at Articles for Creation, and that can be disappointing. If you are wondering or curious about why your article submission was declined please post a question at the Articles for creation help desk. If you have any other questions about your editing experience, we'd love to help you at the Teahouse, a friendly space on Wikipedia where experienced editors lend a hand to help new editors like yourself! See you there! Onel5969 TT me 19:14, 1 September 2015 (UTC)

Your submission at Articles for creation: Solopreneur (November 24)

Your recent article submission to Articles for Creation has been reviewed! Unfortunately, it has not been accepted at this time. The reason left by SwisterTwister was: Please check the submission for any additional comments left by the reviewer. You are encouraged to edit the submission to address the issues raised and resubmit when they have been resolved.

• If you would like to continue working on the submission, go to Draft:Solopreneur and click on the "Edit" tab at the top of the window.
• If you need any assistance, you can ask for help at the Articles for creation help desk or on the reviewer's talk page.
• You can also get Wikipedia's Live Help real-time chat help from experienced editors.

SwisterTwister talk 22:43, 24 November 2015 (UTC)

Draft:Solopreneur concern

Hi there, I'm HasteurBot. I just wanted to let you know that Draft:Solopreneur, a page you created, has not been edited in 5 months. The Articles for Creation space is not an indefinite storage location for content that is not appropriate for articlespace.

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Your draft article, Draft:Solopreneur

Hello, Hyramroy. It has been over six months since you last edited your Articles for Creation draft article submission, "Solopreneur".

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Thanks for your submission to Wikipedia, and happy editing. Puffin ^{Let's talk!} 10:36, 25 June 2016 (UTC)