I ask this question after hearing the esteemed Prof G., Scott Galloway share his thoughts on how entrepreneurship is a young person’s game. Let’s discuss solopreneurship. Is it for boomers?
First, there may be a distinction to be made around solopreneurship and entrepreneurship. For the most part, I would argue that solopreneurship is about building a cottage industry of sorts. It is the desire to work independently from a team and the necessity to scale something.
Whereas entrepreneurship implies the desire to build something that will be bigger than oneself and a willingness to strap on all the necessary baggage to make it happen. Funding, team, development, attorney’s, travel, etc.
For the most part, I concur with Prof G. Entrepreneurship is a 24/7 endeavor with sacrifices that generally keep one from living a normal life with kids, ballgames, weekends, and happy hours.
The hard part of either of these endeavors is sales. Rejections are part of the work and you can’t do either without selling something. With a company that is designed from the getgo to be big, you have to plan on making growth your boss.
With a company, you have responsibilities beyond yourself. Responsibilities like investors, team members, complex tax issues, and growth. If you’ve been asking yourself about these issues, you may have already answered the question, solopreneurship, is it for boomers?
Solopreneurship is a better fit for boomers.
There are consulting options, direct to consumer plays, contract gigs, and a host of other things that make solopreneurship a viable alternative to the 55 and older crowd.
I’m in a publishing cycle where I take the business classic, Blue Ocean Strategy, How to Create Uncontested Market Space and Make the Competition Irrelevant and translate the tools and frameworks into applicable implementations for solopreneurs.
There will be a group coaching cohort offered where I facilitate blue ocean strategy implementation for solopreneurs soon. If you’d like to learn more about that first group and its offerings, simply shoot me an email in the contact form on this site.
Sherman G. Mohr is an Insead Blue Ocean Strategy Institute Certified Blue Ocean Strategist. He also serves as CEO of Shared Spirits Marketing. A blue ocean strategy influenced wine and spirits marketing firm.