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Mind The Gap! 5 Tips for Solopreneurs

Updated: Apr 9

Solopreneurship means sole freedom. Freedom to choose what to build, how to sell, who to talk to, when to work, and when not to work.

But it also brings unbearable loneliness.

Luckily, there are countless solopreneurs looking for a way to make their dreams come true, so you are not alone!!!

Additionally, there are great resources out there to ease your pain.

All you need to do is to mind the gap between reality and your mindset.

The "Build it and they will come" mindset does not really work if you are hoping to build a repeatable and scalable business model.

If you are just starting out as a solopreneur, here are a few tested and proven tips that will help you validate your ideas even when you have a full-time job.

---1) Mind The Customer---

Yes, the customer! We all tend to talk about ideas but customers do not buy ideas or products. They buy solutions to their problems. So, defining your early customers and speaking with those people may help you test your idea hypothesis. In the end, 95% of the ideas are assumptions that are thrown into the garbage.

Advices for solopreneurs 1) Mind the customer: Defining your early customers and speaking with those people may help you test your idea hypothesis

---2) Mind The Market---

It feels great to start coding, building an MVP in 3 weeks and launching that early product. A point of high confidence and self-satisfaction, right?

But there is a huge market full of popular solutions.

Ask yourself: *Does the world really need "your product"? *What will you do differently? *How will you market and sell your product? *Is there really an unmet need that you can solve with your idea/product? *Is there a big enough market for what you have to offer?


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---3) Mind The Competition---

Your idea might be good and there might be a real customer need behind it. Still, you may be struggling to see traction.

Ask yourself: *But what if there is enough competition in the market? *How will you compete with those existing solutions? *Why would anyone pay your company if there are other and more credible solutions in the market? *Do you have enough resources to compete?

---4) Mind The Money---

Freedom, self-esteem, making dreams come true, blah blah... These are some of the motivations of entrepreneurs. Believe me; I've been there, I've done that... After struggling for a few years, you come to the conclusion that MONEY SHOULD BE the ultimate motivation of an entrepreneur.

As a solopreneur, you need to set yourself a deadline to start making a "decent" amount of money.

To make money, you will need to understand;

*Why would a customer pay you? *What exactly are you offering to your customer to convince them to make a purchase? *How is your offering different (and more valuable) than the other solutions?

---5) Mind The Job---

Yes, the job!!!

For which job your customer is going to hire you?

ONLY WHEN your customers have an IMPORTANT PROBLEM that they are NOT able to FEASIBLY solve with the existing solutions, they would be willing to PAY YOU to do the job for them.

Especially in the early days of your startup, these 5 tips can help you either to,

*Validate your idea or *Disprove it or *Find a better one

Fall in love with the problem, not the solution (says Ash Maurya)



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