In a recent article, Forbes highlights the need for more freelance education and training for young adults. Solopreneurship is especially important because it allows individuals to share their skills and talents within their communities. At Multimedia Makeup Academy, we couldn’t agree more! In fact, each program we offer includes courses to prepare students to become solopreneurs. There’s a lot packed into that one word, though, so let’s take a look at what a solopreneur really is.
What Is a “Solopreneur”?
The term “solopreneur” is derived from the word “entrepreneur,” which is someone who starts their own business with employees. A solopreneur, then, is someone who starts their own business, but they are the only employee. These terms can often be interchangeable with the main difference being by yourself versus with a partner or employees. Being a solopreneur is all about you and your business. It’s not a shared entity, and you work for yourself!
Solopreneurs often become entrepreneurs as their business gains traction and grows. That’s a sign of a successful business! In fact, starting solo is a great way to establish yourself and ease your way into entrepreneurship. A lot of benefits that come with being a solopreneur translate well as an entrepreneur, too. Read on to the next section to learn more about these benefits.
The Benefits of Being a Solopreneur
Working for yourself and being your own boss comes with many benefits. Solopreneurs typically work by themselves, so they don’t have to hire employees or worry about sharing money or assets with other individuals. That means all profits are exclusively theirs, and they get to take credit for all the great work they do. Further, there’s no pressure from bosses, partners, or coworkers, which may mean less stress within their business. Pleasing others and living up to certain expectations can be hard in a typical work environment. Being a solopreneur helps to eliminate the difficulty of meeting the standards of higher management.
Since solopreneurs don’t have to consult others, they have the right to make decisions in any and every capacity. As a solopreneur in the beauty industry, you get to pick and choose what beauty treatments you offer to clients. You also get to create your own pricing for those treatments. You know your own worth, so charge accordingly!
Finally, being a solopreneur means flexibility within your job. Just as solopreneurs get to make every final decision themself, they also get to choose when and where. They get to create appointment times that best fit their schedule, or they can choose to take days off whenever they need. As a solopreneur, you have control over your business and how it functions.
Making a Difference in the World as a Solopreneur
Solopreneurship is a pretty new idea, but it’s been on the rise for several years now. Small or independent businesses are more important than ever in corporate America. Small business tend to produce high quality and original goods and services that consumers love. Independent businesses within the beauty industry are no different.
Licensed beauticians who are solopreneurs are successful because they’re independent. With several beauty solopreneurs in an area, clients can choose who to see for their beauty treatments. Payment and profit also go right to the solopreneur who is performing all of the labor, not to higher management. As a solopreneur, you help improve your city’s economy in a healthy, non-corporate way.
You also get to meet clients who you might not have if you didn’t pursue a beauty career as an independent, small business owner. Just like how solopreneurs are in control of all aspects of their business, they also create and contribute to the work environment and client culture. As the only employee, the way you behave affects client experience and how you are perceived by clients.
A business’s size and services also affect the culture that clients walk into. As a solopreneur in the beauty industry, it’s important to know how the location of your business and the services you provide will be perceived by clients. Clients should feel welcomed, comfortable, and like they’re in good hands when coming in for beauty treatments. The responsibility and power to create and change the culture of your business are entirely in your hands as a solopreneur.
How to Become a Solopreneur
Becoming a solopreneur in the beauty industry starts at Multimedia Makeup Academy. Our business courses provide education and training in business startup, branding, marketing, and more. By the time you graduate from MMA, you won’t be required to gain any further business training before launching your career as a solopreneur in the beauty industry.
Before you launch your business, there are some crucial things you’ll need to know. First, make sure you know what you’ll be offering to clients. Next, you should know how to appropriately and effectively market yourself and your services. It’s also very important to understand the paperwork behind a business, such as registration and taxation. GoDaddy put together a great list of things to do and consider before starting a business as a solopreneur, so check that out for more tips.
There’s a lot of work that goes into becoming a solopreneur, but there are a ton of benefits that make it more than worth it. With the right education and goals in place, you’re on your way to becoming a successful solopreneur in the beauty industry.