Can You Be an Entrepreneur Alone?

Are you trying to do a startup as a SOLO entrepreneur? And are people telling you that you can’t? They’re wrong. You CAN. But there are complexities you need to understand. Let’s discuss the nuances.

Fred Luddy bootstrapped ServiceNow as a Solo entrepreneur bootstrapping with a paycheck. He went on to raise a lot of VC funding. And, he went on to build a Unicorn.

If you are a solo entrepreneur doing a startup for the first time, assume you have to bootstrap.

If, on the other hand, you are a solo entrepreneur with a track-record of making money for investors, you may be able to raise money early on.

If you are a solo techie founder, you can build your MVP yourself and get to paying customers. This would go a long way in making you fundable.

If you are a solo non-technical founder, you need an outsourced agency to build your MVP and get to paying customers. This could help in making you fundable. But it’s a steeper path. Deep domain knowledge would be key to traveling this path successfully.

But please be ready to bootstrap a long way in most cases.

And focus on getting your Positioning right.

If you get the Positioning right, the Product can be built.

Lovable, a Swedish startup, has created an AI-assisted SW development product with which you can build an MVP in a month. Lovable agencies are offering development services for $50-80 / hour.

If you need help bootstrapping your startup as a solo entrepreneur, join 1Mby1M Premium.

So, tell me more. Are you a solo entrepreneur? Are people discouraging you?

Are you bootstrapping with a Paycheck?

What is your situation? What are your questions?