Solopreneur is a portmanteau, a word that amalgamates 2 other logical words to make a new one, with the combined meaning of the 2 words. Here, the 2 words are Solo and entrepreneur, clearly showing the word refers to a person who sets up and runs a business on their own. During these COVID times, a lot of conventional businesses have suffered heavy losses. The CMIE or Centre for Monitoring Indian Economy alleges that over 18.9 million salaried workers lost their jobs, in the period between April and July, in India. Therefore, in order to regain a hold on their lives, many of the above mentioned 18.9 million people sought to opening individual enterprises, where they can be independent, and not have to depend on the salary provided to them. In order to sustain lives, this article provides 6 ideas for solopreneurs to jump start their careers again.
1. Web Development
This pandemic has driven everyone back into the confines of their homes, whether for the better or for the worse. A majority of everyone’s life is now in front of their screens, and the raw computer skills of all being tested. The number of websites visited by the Indian population itself in a day exceeds a million. According to Statista, 5.3 million domain names have been registered in India, out of which only 55% are actively used. The others go unmaintained. For this reason, there is a demand for those well versed with webpage development, and maintenance. Further, traffic analysis on each website can also be a source of income.
A staggering 600 million internet users in India are active daily, and the number is only climbing. This makes for a very advantageous backdrop for a enterprise relating to web development. As more and more businesses are going online, it is of utmost importance that there must be a show of uniqueness in the enterprise. Further, as stated above, since many businesses are going online, they are in great need for designing services and languages like Javascript, CSS, C-programming, HTML etc.
In a recent development, National Internet Exchange of India and C-DAC are collaborating for a very special purpose, to cater to the native language speakers of the country. In this regard, they are launching domains in native India scripts, and now, not only can users access the content in local languages, but even search through URLs in vernacular languages. This will help to bring that population of the country who are not native English speakers on par, as they also how the internet at their fingertips now. Further, India’s e-commerce market, which deals with maimly online shopping as compared to conventional shopping methods, is set to cross the $100 billion, and said to have over 300 million shoppers by 2025. In another development, due to the appeal by the Internet and Mobile Association of India (IAMAI) , the government has now reduced TDS on e-commerce platforms to from 1 percent to 0.25 percent. This has given a relief to small sellers in the Union Budget 2020-21.
As a solopreneur, this is the perfect opportunity to go into the field of web development, where the opportunities are only rising by the hour.
2. Content Writing
Ever picked your pen on a low day and written to your heart’s content? What if you can be pair for this? Well, content writing is the place for you then. Whether it is creative writing, or formal propositions, content writing is an upcoming field for the ones who can show the ‘might of the pen’. Content writing is a field of writing online, which is intricately linked to marketing online. In other words, all one has to do is write an article that promotes a certain product or service, and publish it as per the necessities of your client.
It is of utmost importance to communicate with the target audience about your client’s sales and marketing value, propositions etc via a one-way window. Usually, it may have been a sales representative trying to talk face to face with the clients, but the fact that the whole process is online, your audience may not be able to pose questions. Therefore, businesses require individuals such as yourself to write articles that are simple, have all the necessary content, and have no room for ambiguity. As businesses are shifting online, the need for content on their webpages, and for advertisements across domains is gaining more importance. As a solopreneur, this is a great pick as it completely deletes the need for an establishment, or any capital. Further this field does not require any assistants, or other employees, so you can work independently, and flow free with your thoughts.
The only prerequisite that this field demands is the fluency of language, and ability to be able to communicate your idea smoothly, in a way anyone can understand. But the opportunities that this field has to offer are immense. Depending on your taste, you can further branch out and specialize in a certain style of writing, like blog writing, news writing, fiction or creative writing, academic writing etc.
An interesting fact is that ‘content writer’ was one of the most sought after jobs in India during the pandemic, therefore, show casing your uniqueness is of utmost importance.
3. Online Tutoring and other classes
Traditionally, tutoring happens after school hours for extra learning, with a personal touch. But some refrain from taking tutorials or any other types of classes due to the time constraints. Travelling from home to school and back tires out a child, and further travelling to tutorials is not the best for them. However, after the pandemic struck, children have cut down on travelling, therefore giving them more hours in a day to start learning any activities that they may have been constrained from doing. At such a time, opening an online teaching enterprise is one of the best solutions for your needs, and that of the child. Extracurricular activities like art, yoga, dance etc can be easily taught via online methods. This would allow children to relax, and slip away from academics for a while and train their body for the better, while also providing you with a stable source of income. As the capital for this is again almost negligible, this is a great option for solopreneurs to develop upon.
Register Private Limited Company for ₹ 7,499 all inclusive
4. Video Making and Editing
This one is for the one who thrives behind the camera, than in front of it, and has the flair to make it all come together. If you have the skill to put together pictures, footages, bring in sound effects, animations etc in a simple and attractive manner, this is your field to shine. As the internet is enthralled by the beauty of an all-pervasive form of communication, which engages both, the eyes and the ears, the exchange of information via videography is only increasing.
To start with, you can make simple videos and simple edits, like a slow motion of a falling leaf, and then edit it by adding transitions and glitch effects. Slowly, move into specifications, for example 3D videos, gifs etc. Videography has a lot to offer, as you outsource your skill to edit others’ YouTube videos, or make you own, or move into making commercial advertisements, documentaries etc. Video commercials are one of the most influential type of advertisements in India, and is said to be the 6th largest market with regard to consumption of video advertisements.
The only investment that needs to be made in this are for buying powerful video editing softwares. However, the investment will certainly pay back, as videography is now a field that is gradually being tapped.
5. Data Science/ Analysis
Has crunching numbers ever taken your keen interest? If yes, then this is the perfect field for you. As the number of businesses are increasing and the numbers get longer, data analysts are only getting an upward graph. For you to thrive as a solopreneur in this field, lookingand analysing graphs, and any other representations will be your bread and butter. Crunching big data and unstructured information by out-of-the-box methods and manipulation so as to market your client’s company is the basic duty of such a data analyst.
As the pandemic struck, digitization has taken the market by a storm, and many companies are moving towards this format. Therefore, data analysts play a pivotal role in a virtual market landscape, as they are the ones who can crunch the data ideally, so as to convert solid business opportunities into sales, marketing, financial and consumer data.
6. Consulting
Since our independence, we have come a long way in the development of our health sector. There was once that people could not get 3 square meals a day, mental health was a farfetched topic then. However, the scenario is now different, at least in urban areas and some rural areas too. Mental health awareness is now gaining the awareness it rightly deserved, and in that regard, we are short on counsellors, to help the people. Due to the stress one feels, they require a trust-worthy person they can talk to, and to heal with.
Further, due to the pandemic, all of us are affected mentally (and physically of course) and this profession is highly on demand. Therefore, if you have had the knack to open up to people, and are an extrovert, this is the profession for you to go into. It requires little to no investment in its budding stages, as all your consultations can happen on call. Further, as your business grows, you can look into further investments and such.
If we have missed something, do let us know 🙂
Let us know your Registration, Taxation & Compliance Requirements