22. The Myth of the Solopreneurship Capping Your Financial Potential
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In this episode, I’m tackling a spicy one: the story so many of us were sold, that going out on your own and doing it all yourself is the path to freedom and financial abundance. As someone who has studied business formally, I was shocked to see how many heart-centered founders were never given the fundamentals that would show them otherwise.
I break the myth into three parts: capacity (why one person can’t do all eight core areas of business well), capabilities (knowing what you’re skilled at, what you actually want to do, and where you need support), and the money itself. I share how I made my first hires, an assistant and a bookkeeper and fractional CFO, from day one of the incubator, even though I have a finance background. And I get into a stat from the IRS that stopped me in my tracks the first time I saw it.
If you’ve been grinding as a solopreneur and wondering why the freedom and income haven’t shown up, this episode is your permission slip to question the story you were told.
In This Episode:
- The solopreneur freedom story is a myth, and the data backs that up.
- A business has eight core areas, and one person can’t give them all equal energy.
- Capability isn’t the same as desire. You can be able to do something and still shouldn’t.
- The average solopreneur earns around $50K a year, but teams of three to five see over $300K.
- Revenue grows faster than headcount when you add skills, not just hands.
- Adding team or partners works best with a plan, not a blind hire.
Resources:
Sign up for Momentum By Design Event October 23rd (Live in Littleton, CO) or October 30th (Online)
https://www.spiritualbusinessincubator.com/momentumbydesign
Learn more about the Spiritual Business Incubator:
https://www.spiritualbusinessincubator.com
Purchase my book here!
https://www.amazon.com/dp/1966346050/
Podcast website:
https://www.spiritualbusinessincubator.com/newageceopodcast
View the full show notes for this episode:
https://www.spiritualbusinessincubator.com/blog/episode22
LinkedIn:
https://www.linkedin.com/in/annanicholsmba
Instagram:
https://www.instagram.com/annanicholsmba
Connect with Anna Nichols:
Instagram: @iamannanichols (https://www.instagram.com/iamannanichols/)