The First Five Questions Every Solopreneur Must Answer

Before you build anything, name anything, or sell anything, five deceptively simple questions will determine whether your business has a foundation — or just a dream

By Futurist Thomas Frey

The Moment Before Everything Else

Every business that ever existed started the same way: with a person who couldn’t stop thinking about something. A problem that nagged them. A skill they kept getting asked to use. A gap they spotted that nobody else seemed to notice. That restless feeling — that itch — is the raw material of entrepreneurship. But raw material isn’t a business. The distance between the itch and the income is a series of questions, and most people who fail skip them.

The solopreneur’s journey is different from the startup founder’s journey in one fundamental way. There’s no team to pressure-test your assumptions, no co-founder to push back on your blind spots, no board to ask the hard questions in a quarterly review. It’s just you. Which means the questioning has to happen internally, deliberately, and honestly — before the market does it for you, usually at a cost you can’t afford.

What follows are the first five questions. They’re not the only questions you’ll ever need. They’re the ground floor. Get these right, and every question that comes after becomes easier to answer. Skip them, and you’ll spend years rebuilding on a cracked foundation.

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Entrepreneurs: How To Define Your Future In The Exponential Age

Recently, I’ve been impressed by a vision of the future as shared by serial entrepreneur and CEO Udo Gollub. He has noted that what happened to Kodak will happen to many industries in the next 10 years. But most don’t see it coming. Did you think, in 1998, that 3 years later you would never take pictures on film or paper again?

Digital cameras were invented in 1975. The first models had only 10,000 pixels of image resolution, but followed Moore’s law (like transistors, we’ve doubled the number of pixels per square inch every year). Similar to many exponentially growing technologies, it was a disappointment for a long time, but grew progressively more superior and went mainstream in only a few short years.

Welcome to the 4th Industrial Revolution. Welcome to the Exponential Age.

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