Skipping a few steps ahead in business as a solopreneur

Happy Monday folks, and hope the weekend went well.

Yesterday another episode of the SG Podcast dropped, and it’s a super interesting one.

If you’ve been following me for a while – or even for not so long – you’ve probably heard me talk about the opportunity of buying and selling businesses as a solopreneur.

There are a few reasons for this, but some of the key factors are:

  • as the Baby Boomers get older, there are more and more people retiring with businesses who have no one to take them over
  • more people than ever are starting solopreneur businesses, especially online, due to how much easier and cheaper it is thanks to tech
  • side hustles have also become more popular, leading to even more businesses or side projects

Just a few factors, but you get my point.

And the reason it’s so important is that there’s more than one way to become a successful solopreneur.

Yes, you can start a business from scratch, and there’s nothing wrong with going that route.

But another great way is to buy someone elses business, or even side project, and start a few steps further ahead in the process.

Like a lot of things, starting a business is really hard at the very beginning. Lots of planning, picking the right product/service, trying to make those first sales. But imagine if you could jump into a business that already had all of that set up? Already had paying clients, testimonials, referrals coming in, etc.?

Caveat: of course, do your due diligence before buying any kind of business or project, so don’t forget that part to make sure you’re getting something good for a fair price.

I haven’t bought a business in a while as I’m currently focusing on my immigration tech company, Visto, but a few weeks ago I did talk about my two experiences buying/selling here (one was a blog I bought and sold years ago).

And I gotta say, if I was starting from scratch right now, I’d probably look for an opportunity to buy into a business. That’s part of why I was so excited to chat with Ilya – who founded a company called Microns – that helps people buy and sell micro startups.

We had an awesome conversation about:

  • How he got into solopreneurship by starting a successful agency after being laid off at the beginning of Covid
  • The exact steps he took to start his agency and then tech company (Microns) later on
  • Tips and advice on buying/selling businesses and the benefits of starting one with a partner

And much more.

If you’ve thought about buying/selling before, or are interested in hearing Ilya’s journey, definitely give the episode a watch or a listen here.

Hope you enjoy, and keep grinding.

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