Online Solopreneur: Why You Need to Set a Realistic Timeline
Learn to let go of the unrealistic expectations of the time needed to get your solo online business off the ground.
At first, I thought I was the only one who was encountering multiple challenges in her first fews years of running a solo online business. I had read all the success stories and thought that there was something wrong with me for failing to meet my goals. So I thought, “maybe I don’t have what it takes”. Thinking that it was my fault created a great deal of internal distress.
Much later, I found out that one big problem I faced was about having set unrealistic expectations. Lured by false promises, I was disappointed to find that my expectations had not matched reality. Then, to my surprise, I discovered that I was not the only one taking a longer than expected time to get a solo business off the ground.
What We Think A Solopreneur Journey Would Be Like
Many solopreneurs may be inclined to believe that venturing into an online business is like going on a smooth and easy ride.
In our minds, we anticipate a straight line to success.
Perhaps we’ve defined success as achieving financial freedom, having a decadent beach lifestyle while sipping champagne or making 6 figures in our first year of a solo business.
It’s not like we are making this up as we’ve been led to believe that this is all possible.
After all, expert business coaches tell us that…
“It will only take 6 months to reach $100,000 with this one lead generation strategy!”
“Follow my ONE system to success in 12 months!”
“Work only 4 hours per week and expect to run your business empire from the beach in a year!”
Oh gosh…the amount of marketing hype that goes on.
I am embarrassed to admit that I fell for all of that.
What I discovered, instead, was vastly different.
And for most online solopreneurs, it is likely to be the same. (It’s the minority that make it in a year!)
There is NO such thing as overnight success.
Realistically, expect to take more than a year to figure things out and have systems and strategies in place before making any serious money.
Obviously, the length of time required will ultimately depend on whether we are running our business full or part-time. Like many others, I’ve started my business on a part-time basis in the first few years before turning full time as my kids get older. In this article, I am making estimates assuming that we are in a solo business on a full-time basis. Hence, you can expect a longer lead time if you are doing your business part-time.
Let’s recognise this: many marketers have a way of highlighting the few students who get amazing results in a miraculously short period of time. I am guilty of not knowing any better in the past. The problem is that while cases of success can be inspiring, the vast majority of us may be led to setting unrealistic expectations on timeline.
What An Online Solopreneur Journey Would Likely Involve
What usually happens is that we set ourselves for struggle and stress when we are not able to generate income quickly. We believe that it is our fault. Worse yet, we shame ourselves when we perceive ourselves to be failures.
Well, learn to let go of the miracle stories even as you are open to the possibility of generating success faster than the average time it takes for a someone running a solo business.
According to Wil Schroter of Startups.com,
“The short answer is it takes at least 4 years just to get pointed toward a real business, and I’d argue it takes 7–10 years to make your startup truly the success that you had in mind when that idea came to you.”
And according to this article, it is said that most small businesses take at least 2 to 3 years to be profitable and become truly successful once they’ve hit the 7 to 10 year mark.
Thus, if you are keen to have a business that lasts and one that allows you to express your gifts, passion and purpose, be aware that it potentially requires a lot of work, energy and attention…on top of having a realistic marketing plan.
It’s NOT likely going to be a straight line to success.
Instead, you can possibly encounter a steep learning curve especially if this is your first time starting an online business.
Here’s what you may need to learn:
- Creating a website
- Setting up an autoresponder
- Selecting a niche
- Creating a lead magnet and setting up a landing page
- Setting up a funnel for sales
- Setting up Zoom calls
- Copywriting
- Learning each social media platform — Facebook, Twitter, Linked-In, etc.
- Analysing your stats
- Creating ad campaigns etc.
It’s possible that you take a year just learning the ropes and generating negligible earnings.
These are some things that a solopreneur can expect to encounter in the first fews years of business….
- Hard work
- Going beyond comfort zone
- Testing out ideas
- Dozens of experiments
- Technical challenges
- Failures in launches or not enough participation rates
- Lots of time spent trying to get things right.
Even if you decide to skip having a website and solely focus on writing here on Medium, you will still need to pay your dues. It takes an average of 2–3 years of consistent writing before making any serious money. According to top writer Tim Denning, he suggests a 5-year time frame. (On the side, I’d caution against relying 100% on a platform like Medium that does not belong to you for a full-time income.)
The struggle often comes from money stress or the inability to generate income fast enough. You’ve got bills to pay and sticking to plan and not giving up can be a real challenge. What is indisputable is the need for a positive mindset and high energy levels that will support you in weathering the early years and for the best chance of success.
If you are running a coaching/healing business like me, you may have to work through issues such as
- Imposter syndrome
- Letting go of perfectionism
- Releasing limiting beliefs such as “not good enough” or money blocks
- Expressing your authentic voice through finding yourself, instead of having the fear of rejection
- Letting go of Fear of Missing Out (FOMO)
- Prioritising self-love and care etc
so that you can reach where you want to be.
Obviously, the more blocks you have in the way for you, the longer it will take for you to generate success. The great news is that by working through some of the issues, you can potentially step into greater authentic confidence. This lends you an increased ability to own your innate power for manifesting a sustainable business that you’d love.
Message for the Conscious Online Solopreneur
In summary, here’s the overall message I’d like to share with you…
- Don’t buy into marketing hype.
- Set realistic expectations.
- Release limiting beliefs and FOMO.
- Get the right mindset support and authentic advice.
Recommended Reading
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