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The Superpowers Of Solopreneurs

22 April 2022

Entrepreneurship is booming. In 2021, more than fifty thousand new companies were founded in Switzerland. More than ever before. Most of these are sole proprietorships. But the superpower of sole proprietors is not just in the numbers. 

Solo entrepreneurship has strong advantages and research with self-employed people has shown that certain patterns and mindsets lead to success. Let us introduce you to these here.

One thing up front: the lessons you learn as you build your self-employment are invaluable. Designing steps effectively and planning profitably are the most important skills you'll acquire.

All solo founders have limitations and superpowers. To succeed as a solo self-employed person, you need to know your limitations but focus on your superpowers. 

Here we present you with examples of a success mindset where limitations become superpowers:

 

Mindset constraint: Limited capital 

Many solo founders are "bootstrapped", meaning they have no investors involved and finance their business from their own income and also savings. This often means that there are fewer resources available for building up a business.

Mindset Superpower: Own Capital

Instead of focusing on scarcity, successful solo self-employed people know that businesses that grow on their own really do grow healthily. With only the use of your own capital and efforts, you build a sustainable growing business and stay independent. This saves you from external (extra) pressure. Startup founders who are very well funded by investors envy you for being able to act with substance and integrity instead of chasing growth at all costs.

 

Mindset constraint: Strong competition

 

Sole proprietors face strong competition from medium and large companies that have significant resources such as large teams and financial resources.

Mindset Superpower: Uniqueness

Solo founders are usually specialists in one field and their individuality allows them to bring absolute uniqueness to their work. Moreover, many solo self-employed cover niches and thus solve problems that larger companies do not focus on.

 

Mindset constraint: Doing everything myself

Building a business is a challenge that solo self-employed people (seemingly) have to overcome on their own. As a solo founder, you usually only have your specialist knowledge and skills that you don't (yet) have, such as financial accounting, sales or marketing, you have to take the time to either learn or outsource.

Mindset Superpower: Network is net worth

Since you are accountable only to yourself, you get the superpower to make quick decisions. This makes you dynamic and agile in running your business. However, as a solo self-employed person, you don't have to be on your own at all. There are a very high number of entrepreneurs who want to network, share experiences and collaborate. 

Tip: Join startup communities, such as on Indie Hackers, Slack, Discord, or other platforms. Network in co-working spaces. This will give you a deeper insight into the challenges of other solo founders and how they deal with unique challenges every day.

There are many good reasons for starting a sole proprietorship: it is the most popular entry into self-employment, with the promise of independence and unlimited opportunities to bring one's talents to fruition. Unfortunately, it is sole proprietorships that are also the most likely to go out of business. High workload, pressure, administrative burden or dissatisfaction with the income generated are common factors.

That's where Numarics comes in. We want your business to have a real chance at long-term success. Sole proprietors don't usually start their business only to abandon it again. But even with the "cautious start-up", where you start your business as a side gig, the pressure from constantly providing receipts, figures, documents and meeting deadlines for the authorities (for example taxes) is enormous. These are just a few of the hurdles we remove.

Our technologies developed by business and financial experts, united in the Numarics Operating System, combined with our business advice available like a concierge service on your cell phone, make starting and running a sole proprietorship easier than ever.

This gives you a decisive advantage right from the start: time and a head free for your ideas and your core business. Numarics as a solution for entrepreneurs is globally innovative and fits seamlessly into your lifestyle. Dive into the next evolutionary stage of entrepreneurship - you do your business, Numarics does the rest. 

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