"Many other solopreneurs share my lack of confidence about investing in a solo business. Not only do solo entrepreneurs tend to suffer from a kind " money dysmorphia " telling them they are one bad month away from everything falling apart, but the kinds of investments you make for a solo business don't typically offer a clear return on investment. While a factory owner"
"Reinvesting in your business often tends to be scary because solopreneurs have irregular income. It feels like tempting fate to drop a significant amount of your big payout this month on an investment into your solo business-because, our paranoid monkey minds tell us, doing that practically guarantees your clients will dry up next month. And then you will have spent your grocery money on a new business laptop that could have waited six months."
Solopreneurs manage all business roles and face simultaneous exhilaration and fear when making solo decisions. Investing in a solo business provokes greater anxiety than creative risks or pitching because returns are unpredictable. Many solopreneurs experience money dysmorphia, fearing a single bad month will collapse finances. Investment outcomes like social ads, coaching, subscriptions, or virtual assistants rarely show clear causal ROI. Irregular income amplifies the risk of spending large payouts on business needs. Establishing a firewall between personal and business finances protects necessities and enables planned, sustainable reinvestment.
Read at Fast Company
Unable to calculate read time
Collection
[
|
...
]