Strategies for Solopreneurs: Lessons Learned Along the Way
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Chapter 1: Embracing the Solopreneur Lifestyle
Being a solopreneur has its perks! The freedom it offers is unparalleled. Just last week, I returned from a four-day workation in southern India, where I found myself by the riverside, enveloped by coconut trees in a peaceful Ayurvedic resort.
While I'm not typically a fan of workations, I tagged along for my husband's business trip, which allowed me to blend work with relaxation. I even indulged in my first shirodhara massage, a specialty of the region. These moments of solitude led me to reflect on my journey as a solopreneur.
With an audience of over 150,000 on LinkedIn, a mailing list of 13,000 subscribers, and a solid following across various platforms, I often ponder what I could have done differently and what I can still change. If you're on a similar path, I want to share my insights so you can avoid the same missteps I encountered.
Section 1.1: Identify and Connect with Your Target Audience
One of my challenges as a creator is that I don’t narrow my focus strictly to solopreneurship or side hustling. While these topics are popular, my genuine interests lie in traveling and personal development, which I incorporate into my content. This diverse approach gives my work a unique flavor, differentiating it from the many voices in the niche.
However, this broader focus sometimes impacts my course sales negatively. I don't frequently promote my LinkedIn course, which leaves many unaware of its existence. While I could choose to showcase my earnings to drive sales, I'm content to play the long game. At 27, I prefer to grow and learn rather than just chase immediate profits.
Why is this important? Depending on your life circumstances and responsibilities, tailoring your content to your specific audience can significantly enhance your engagement and business success.
How can you do this? If you've spent years in a particular field, such as financial planning for middle-income families, create content that reflects your expertise and experiences. This not only builds credibility but also fosters trust with your audience.
Section 1.2: Analyze Your Financial Investments
Of course, I keep track of where I invest my money; I'm not naïve! However, I realize I could be more strategic about it. Recently, I reached out to Kajabi because I can't accept USD payments in India, which is costing me valuable revenue as a course creator.
For instance, I set up a payment option for Indian users, but my last two transactions came from clients in Singapore and the UAE, earning me only a fraction of what I could have made. This frustrating experience has highlighted the need for a better system.
Why should you pay attention to this? Imagine spending $1908 on software that fails to provide any return on investment. It’s disheartening, but the pain can be mitigated with thorough research.
How can you improve in this area? Delve into comparisons and experiences from others. If you're outside the US, be proactive about asking relevant questions early on.
Chapter 2: Seizing Speaking Opportunities
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Reaching out for speaking opportunities can be incredibly lucrative. As a corporate trainer, I can earn over $10K per talk in India, though I'm unsure of the international rates. This goal is now at the forefront of my plans for the next five years.
I recently met a fellow LinkedIn creator who has delivered over 500 talks, 60 of which were pro bono. This extensive experience has honed her skills in public speaking, curriculum design, and deepened her expertise. Similarly, many writers share the bulk of their content for free to later monetize the premium portion through coaching or digital products.
Why should you consider this? Not only is it an excellent source of income, but speaking engagements can also be rewarding and enjoyable. Engaging with audiences directly helps you better understand their challenges.
How can you get started? If you've spoken publicly before, share your experiences. Alternatively, like I plan to do, reach out to others and offer to collaborate, even if it means starting without compensation.
In Conclusion
Every step in this journey is a learning opportunity. I hope that by sharing my experiences and lessons learned, others can avoid the same pitfalls I encountered. We covered the importance of identifying your target audience, researching your financial investments, and seeking out speaking opportunities.
I wish you all the best on your solopreneurial journey!
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