Struggles of Solopreneurship

Hello All,

As someone who has been a solopreneur for many years, I have a great deal of experience with both the rewards and the challenges.

I love being my own boss, not having to deal with managing people (which is, in my opinion, a completely separate area of expertise), having flexibility in terms of the type of work that I want to do as well as the customers that I want to work with (and vacation time :)). Perhaps more importantly, I feel a great degree of gratification from my work, very much enjoy exploring my creative side and am a bit more willing to take (calculated) risks.

On the flip side, being a solopreneur can be lonely. There is an energy that comes from being in an office environment or having people to brainstorm with, that as a solo worker is difficult to replicate.

You also have to find ways to stay motivated, avoid the irresistible urge of procrastination (a tv or bed in the next room can be very alluring) and build habits that promote discipline.

We also wear many hats and if you are like me, significant portions of my day can be spent troubleshooting . A computer issue can take me hours to figure out (“have you tried turning it on and off” is a solution that I use often). Coming up with good copy for a social media post or a sales page can be agonizing. (I’m often mystified by why some content does well while others fall flat). Keeping up with technology and the sheer number of options available that will supposedly make my work easier is frequently overwhelming. I have trouble delegating and often don’t have the time to even explore other possibilities.

And then of course there are the financial challenges of being a solopreneur, which are numerous, and I have included in this week’s blog post.

So, if you are a solopreneur and can relate to some of what I describe above , know that you are not alone (even though you technically are :)) But I think, despite these hurdles, the journey (at least for me and hopefully for you) is worthwhile.

From the Blog

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Ronika Khanna

Ronika Khanna is a Chartered Professional Accountant (CPA), Chartered Financial Analyst (CFA), and the founder of Montreal Financial. Her previous experience includes roles at PwC and ING both in Montreal and Bermuda.

She started her business 15 years ago with a focus on accounting, finance and tax for small business owners, startups, freelancers, and the self-employed. As a small business owner herself, Ronika leverages her firsthand experience to offer practical advice and bring clarity to complex financial concepts.

She has been featured in media outlets such as CBC, the Toronto Star, and The Globe and Mail and has authored several books to help small businesses with their finances.

You can connect with her via her biweekly newsletter, Twitter, YouTube, and Linkedin.

She also offers consultations to small business owners and individuals who want personalized guidance.

https://www.montrealfinancial.ca/about
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