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Solopreneurship

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51–56 of 56 posts

Re: Solopreneurship

#51
I started park.io and ran it myself for 5 years, growing it to over $1m/year in revenue.

It was an exciting and enjoyable time for me and my family. I loved the freedom to do whatever I wanted, and to move quickly. I loved taking good care of the code, because it took care of me :)

Eventually partially because I started to get tired of it and also to de-risk, I brought on a partner, which has worked out really well.

Re: Solopreneurship

#52
post #10

I see this tendency of solo projects a lot in developers. My experience has been quite the opposite, I started to get traction as entrepreneur after accepting the idea that I needed a team. My business sells b2b so maybe it is different, but companies are tired of automated SaaS sales funnels focused on “features”, they want competent people to talk to about their problems that are never just technical ones. I think…

Especially the bigger companies have procurement that deals with contracts and are so used to having a salesperson as contact. I can imagine that your salesforce would be one of the limiting factors for these customers.

Re: Solopreneurship

#54
post #2

Very relaxing read. Thank you. I have just started a similar journey as well. I have passed my bar exam and became a qualified lawyer during the pandemic. To all minds that are sane, the logical thing would be to keep my high paying job and ride out the lockdown recession. Instead, I have left my job, took up a coding bootcamp for 4 months and became a tenant at a co-working space with my laptop, setting myself a 6-m…

Good to see a lawyer here. I have been a venture capital lawyer for 10 years. I am still with a law firm; but have been learning Python, and have also been building a legal publishing platform by hiring a developer. It would have been nice to create the platform myself; but I think the combination of an experienced corporate lawyer and an amateur developer might be more suited in my case. One day, I hope to go solo and consult companies and law firms in implementing technology solutions to make their work-flow efficient and also run the legal publishing platform, which at that point in time would have hopefully evolved into a marketplace for trading knowledge.

Re: Solopreneurship

#55
post #2

Very relaxing read. Thank you. I have just started a similar journey as well. I have passed my bar exam and became a qualified lawyer during the pandemic. To all minds that are sane, the logical thing would be to keep my high paying job and ride out the lockdown recession. Instead, I have left my job, took up a coding bootcamp for 4 months and became a tenant at a co-working space with my laptop, setting myself a 6-m…

Good to see a lawyer here. I have been a venture capital lawyer for 10 years. I am still with a law firm; but have been learning Python, and have also been building a legal publishing platform by hiring a developer. It would have been nice to create the platform myself; but I think the combination of an experienced corporate lawyer and an amateur developer might be more suited in my case. One day, I hope to go solo a…

Nice to see another lawyer as well! I only counted two people back in my old firm (out of 1,000 lawyers there) who are from a STEM degree and knows some coding. We are definitely a rare breed but in a nice way.

Right now, I am building a simple social media website for home decor and designs just to test myself on using frontend and backend technologies. Then on the side, I am creating small projects with ideas being inspired from the legal field. I have just started on making a lightweight timesheet app so ordinary people or programmers can record their time worked (just like how lawyers mark their time spent on client’s matter) to produce a timesheet report for their clients.

Only hurdle I have is in the aesthetics, as I am OK with building the core functions of an app, but designs wise, the bit that are client/customer facing would require some work - or I could just hire someone to build some nice looking assets for me to use.

Re: Solopreneurship

#56
I have worked a very similar way for the last decade. My company works largely in OSHW/OSS and I consider the work I do for closed source companies as "extra stuff" that I expect no long term income from.

I am a one man show...everything from Janitor to CEO duties are my responsibility. Every hour you are not in the shop you are paying for an unused building. Work (and therefore income) stops when you stop. It is hard to go on vacation for a week when you know that the meter is running and that shop costs you $xxx.xx/day.

Automation is key, in my case I use machines to supplement my time (3d printers, CNC mills, Pick and place machines, website sales) and if it is something which is better done out of house I use other companies to do the work (production machining, contract manufacturing).

Even still...it is a very difficult path. Paperwork is neverending, phone calls and emails come at any time and you are typically expected to answer them immediately. Health insurance is not included (United states), vacation/sick days are not guaranteed and in my case...retirement is something I don't even consider an option.

Why would I do all this? Because it leaves me the ability to work 20hrs a week (physical hands on time...not counting admin stuff) half of the month to focus on my loved ones and the other half of the month I work 50-80hr weeks. I have the freedom to choose to get up in the morning and take a Tuesday morning hike without having a manager upset that I clocked in late, or go swimming during the summer midday during the time when I am out running errands.

Would I make more in industry? Probably...but not likely locally. Besides...I am the type of person who does not do well in a "conventional" situation.

Yes, you do trade one boss for many customers...but you can also fire customers. From what I have found in my experience though is that it isn't the customers who are the hardest on you...it is yourself. Trying to let go for a few hours to just watch a movie without thinking about work is difficult. When I contract myself to do a design for a customer I tend to think about that design nonstop until it is complete...then often after I am still revising it and thinking of how it could have been done better/faster.

Someone once said to me "When you are self employed your boss is always an asshole." I recommend anyone who is debating becoming a solopreneur to remember that.

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