8 Solopreneur Business Ideas that can Change your Life

Solopreneurship, for sure is a strenuous venture but it is not impossible at all. Many people raise eyebrows when advised about solopreneurship as it is hard to believe that a single person can handle entire end to end business operations. It looks far-fetched on paper but if executed with a proper plan and positive mindset can do wonders for you. There are many ways you can start your solopreneur journey, and I guess some of you would already  have explored a bunch of them. In this post, I have tried to consolidate 8 Solopreneur business ideas which can give you a kick start. These are proven business ideas which can be practically executed alone without a huge initial investment.

Also Read: All you wanted to know about Solopreneurship

Solopreneur Business Ideas

8 Solopreneur Business Ideas

E-Commerce

According to estimates, E-Commerce market size would reach $27 Trillion in 2020. It is growing at an exponential pace, and is not expected to saturate at any time in the near future. Startup E-Commerce firms are still flourishing in spite of existing giants like Amazon and Ebay. The reason is simple, buyers are looking for a dedicated platform around each individual niche rather than a big marketplace. Starting an innovative E-Commerce store around some untapped niche can be a goldmine for you. And you need not to have a upfront investment for securing the inventory, there are options like drop-shipping available where you can outsource the core operations and just focus on marketing and Sales. Also, launching an E-Commerce website or mobile app wouldn’t take months now, as there are ready-made frameworks available which can be setup and customized in no time.

E-Commerce Business Models: An Overview

Dropshipping explained from scratch: A newbie guide

Affiliate Marketing

As an affiliate marketer, you would have to promote someone else’s products and services and earn commission in the process. Commissions can range from 5% to 100%, and is paid on a monthly/weekly basis. This is a hot area now especially in third world counties due to recent boom in technology and E-Commerce. There are numerous people who earn their livelihood just by promoting Amazon products. The best part is that; you don’t need to have a large workforce for this, you can very well do it all alone! It’s not mandatory to own a website as well, you can do it through emails or lead pages. Once initial things are setup, this business can run on its own generating you a lifelong passive income.

Affiliate Marketing for Dummies

Blogging

Blogging is no longer a hobby which people do in their leisure time, it is a serious money-making profession now. Popular blogs earn millions through Ad networks like Google adsense or infolinks. Also, content marketing can be used to promote affiliate products or services. Owner of popular tech blog Labanol earns 15 to 20K$ every month through Google adsense. Setting up a blog doesn’t take too much efforts and there are standard blogging platforms like wordpress available for free. If you are not good at writing, you can think about outsourcing it and focus solely on SEO and marketing.

How to make money with a Blog?

Google Adsense alternatives to monetize your blog

Graphic Designer

Creativity has its own reputation when it comes to solopreneurship. If you are good with artistic stuffs, then you can definitely start your own graphic design business. You can create logos, infographics, website templates or apparel designs. You can do it on demand from your clients or bundle your work to sell on other websites like Evanto. Also, there are platforms like Teespring where you can upload your T-shirt designs and they would take care of printing and selling.  There are similar platforms for mobile covers, posters, mouse-pads, laptop sleeves etc. One good design can earn you royalty for years.

How to make money as a Graphic Designer?

Online Coaching

Online coaching industry is flourishing with the advent of Internet and technology. Many people are looking for hassle free structured training on the topic of his/her interest. Based on your experience and passion, you can create video tutorial series and sell it on websites like Udemy. You can also offer dedicated 1-1 coaching to by charging a fee. You can even write E-Books and sell it on Amazon. Initial efforts would be high but after few weeks of dedication things would roll on its own.

Stock Market Trading

Trading on financial instruments like stocks, forex and commodities is a white-collar profession now. Large hedge funds and banks are employing the best brains to trade on their manged accounts. But with the application of technology in this area, even individual retail traders can operate on their own with minimal initial capital. You can create algorithmic trading strategies which can be automated and possess self-learning abilities. There wouldn’t be major risks if you religiously follow your trading system. Trading for a living is really possible now, and actually practiced by numerous individuals.

7 Steps to become a successful stock market Trader

YouTube Solopreneur

Monetizing your YouTube videos is the latest trend in Internet. You can start your own youtube channel, upload videos regularly, and attract subscribers. Videos can be monetized through Google adsense or many other ad networks. For every view on your uploaded video you will be paid. Unlike websites or blogs, ranking your videos on YouTube is easier and can reach the top spot with little efforts. Also, there is huge earning potential if your videos get viral.

How to add free subscribers to your YouTube channel?

Freelancing

This is not a perfect example of solopreneurship, but still freelancers and solopreneurs share some characteristics. As a freelancer, you can promote your skills and let people hire you for a short-term project. You wouldn’t be obligated to lengthy job contracts and a fixed working hour, rather you would be your own boss. Freelancing opportunities are available almost in every domain like designing, content writing, coding, digital marketing etc. There are platforms like Upwork or Freelancer where you can find freelancing jobs. Once you acquire enough reputation and credibility in these platforms through user ratings, you will get more opportunities and of-course more money. After a successful start with these platforms, you can also launch your own freelancing website.

How to become an SEO Freelancer?

How to make money on Fiverr as a freelancer?

These are the best Solopreneur business ideas which can be started in no time. But, there is no limit to creativity and innovation when comes to solopreneurship. You can also think of something new and unique which you can start on your own. Also, you need not to stick to just one of these 8 ideas, you can very well combine multiple ideas into a single business model. For example: you can do blogging, affiliate marketing and YouTube monetization all together in the same model.

Let me know if you want to share your Solopreneur story!

2 Comments

  • Mr Robot

    October 21, 2017 - 7:22 am

    Which of these do you think is most sustainable and passive way of making money?

    • admin

      October 22, 2017 - 7:10 pm

      Thanks for your comment. If you are looking for a passive income stream affilate marketing or blogging is best for you. You can generate decent income by working few hours a week.

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