Why do solopreneurs find it difficult to scale their businesses and become entrepreneurs?
Difference # 1:
The solopreneur business model is an Outside-In model: I make my observations. I process it. I take a decision. This makes me the most intelligent person in my business.
The entrepreneur model is an Inside-Out model: Only what the team can deliver can be taken up.
Difference # 2:
The solopreneur business model can at best support the owner, family and possibly a few employees. To have a scalable business model requires highly skilled employees, which this business model cannot afford.
Difference # 3:
You cannot apply a domestic / limited solution to an industrial / global opportunity.
What is required?
🔹 To move to the next higher level requires higher profits and profitability so that you can afford a world-class team. It is not sustainable to simply do more of what is being done. What is required is to offer a far superior value proposition, to a higher level clientele. This therefore requires a complete shift in paradigm from one level to another (eg. moving from a motorized 2-wheeler to a motorized 4 wheeler).
The Invisible Problem:
A solopreneur loves his independence and does not want to give it up.
He loves the freedom of movement he enjoys and of not being (seemingly) accountable.
Also, the Solopreneur loves to control and micro-manage his business (and employees).
What is required?
🔹At the next interdependent level, an entrepreneur needs to be accountable to his team. It means he appoints the head of the team and then gives that person autonomy and the professional freedom to recruit his team and the space to run the operations without interfering on a day-to-day basis.
If he does not do that, he continues to operate in the Solopreneur paradigm; irrespective of the no. of employees on his payroll!
1. Get a professional who can ably manage day-to-day operations
2. Let go of independence to gain much more through interdependence
3. Let go of Freedom of Movement to gain a greater Freedom of Choice as an entrepreneur, whose enterprise operates without his physical presence or supervision.
Consequence: Get Profits with Peace of Mind, whilst freeing up your Time! You can now explore other business opportunities, with other potential business partners, to take you to the next level of Business Diversification.
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