Key takeaways
- You have expertise that you can monetise.
- Solopreneurs are a rising tide.
- Your home is now your office.
- Develop your personal business model.
- Earn from multiple streams of income.
As we approach the end of 2025, you might be wondering what 2026 holds. Or maybe you should be asking how I see myself to see a new beginning? A different perspective can mean a different pathway. Can I be a different person, and could this lead to a different life? You may not think about it that way, but reflecting on your thinking can lead to a whole new life. Spend time this holiday and just let your mind flow. You may end up seeing yourself as an organisation that accomplishes much, which could lead to a more fruitful and rewarding life.
New world of work
The world of work and life has changed tremendously over human history. At the time of Jesus's birth, people had to work primarily to put food on the table. It was long hours and little time for relaxation. Everyone had to be a farmer, but by Tuesday afternoon, you had enough money from working to buy food.
Fast forward to the 21st century, and things have really changed. We spend less time growing food and more time on higher-level activities. But it is more than that; we don't have to report to work because we can work remotely. We can do work in other countries and not even travel. There are sites like Freelancer where you can work from the comfort of your home and get paid without anyone knowing you have a business there.
But the changed world of work sometimes does not appeal to everyone. You have the evil boss, the cubicle life, the people you must deal with, and the organisation challenges. There is also the direction the company is taking, which is not your direction, and of course, it does not utilise your competencies. So, you feel like a brick in the wall.
You might be thinking: where is the opportunity? Dorie Clark, in her 2017 book titled 'Entrepreneurial You: Monetise Your Expertise, Create Multiple Income Streams, and Thrive', says "The internet and our globalised economy have given us the possibility of reaching millions of people, working on our own terms, and enjoying unlimited income potential."
Organisation you
Most professionals do not consider themselves as having a business model capable of generating benefits and earning higher returns than the average person. It's not just high income; it's multiple streams of income and other personal benefits.
Why settle for one source, since you can lose your job at any time? The best perspective is to view yourself as a company offering a wide range of services to various clients. It is not only about money, as in the case of a company, it can be much more, as you are a social being.
You can think of yourself as having a business model, just like an organisation would. While you may say that I am not a business, that is true; you are much more than a company that focuses on wealth creation. You have a multi-dimensional lifeā€”finance, yes, but also personal, social, and community aspects. It's all about success and satisfaction.
Business model you
What is a business model? "A business model describes the rationale of how an organisation creates, delivers, and captures value", as defined in their 2010 bestselling book titled 'Business Model Generation. Authors Alexander Osterwalder and Yves Pugneur outlined how companies can adapt to their changing environments and capture value by examining different dimensions.
In their 2012 follow-up book, 'Business Model You: A one-page method for Reinventing Your Career,' they adapted the organisational version for individuals, thereby offering a new perspective on self-management. They asked, "How can you maintain success and satisfaction? You must identify how you operate ā€” and then adapt your approach to fit changing environments".
Your business model comes down to two key things: who your customer is and how you can help them get their job done. This thinking is the same for organisations; if you cannot do the job better than anyone else, then you are out of business.
Multiple revenue streams
We all know that a significant problem with some economies is their dependence on one commodity (like Trinidad and Tobago), which leads to economic booms and busts. Many of us rely on a single income stream; like a horse that breaks its leg, when our income declines or we are severed, we face serious financial trouble. Is there a better way to manage this risk?
The business model you want to have should have various income streams. If you're going to use your knowledge resources (say, you have expertise in web page design), you can offer your services as a consultant. You can be either an internal or external one.
As an internal consultant, you might notice the shortcomings of your employer's site and suggest that outsourcing it to you would be a more cost-effective and better alternative. An external consultant would take some time to understand the organisation, its people and its markets. You, on the other hand, can deliver faster and do the job while on vacation.
A home business is an excellent way to let your house pay the mortgage. Why should you sweat every month? Working from home is in style; it offers freedom and more control over your life. This shift is also a great way to look at your resources differently. In addition, a service business requires little physical capital, and nobody knows you have a business at home (including the criminals).
The greatest want of all is what you want from yourself. Become a solopreneur!
Sajjad Hamid is an Entrepreneurship Educator who supports entrepreneurs in scaling their ventures. In his spare time in Trinidad and Tobago, he attempts to cultivate organic tropical fruits and vegetables, practising sustainable farming in his home garden.
He is the author of Build Your Legacy Business: Solopreneur To Family Business Hero. Sajjad is a Fellow of the Family Firm Institute. You can contact him at [email protected] or visit www.entrepreneurtnt.com.
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