#136: Tactical Tuesday: The Pros & Cons of Being a Solopreneur

<p><strong>OVERVIEW:</strong></p> <p><span style="font-weight: 400;">Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the</span> <em><span style= "font-weight: 400;">Healthcare Entrepreneur Academy</span></em> <span style="font-weight: 400;">podcast talks about the advantages and disadvantages of becoming a solopreneur. </span></p> <p><span style="font-weight: 400;"> </span></p> <p><strong>EPISODE HIGHLIGHTS:</strong></p> <ul> <li style="font-weight: 400;"><span style="font-weight: 400;">A solopreneur is similar to an independent contractor, which includes workers like website developers, plumbers and healthcare workers who receive a 1099.</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Some of the pros of being a solopreneur are you can take advantage of write-offs, work a flexible schedule and establish your own hourly rate. </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Jason shares an example of how to evaluate your income potential as a self-employed practitioner. This includes looking at the profit per patient, how many patients are seen per day and how many hours are worked. </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Once earnings are calculated, focus on either charging more per patient, seeing more patients or reducing your expenses to increase revenue. </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">What is capped income?</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">One of the cons of being a solopreneur is it takes a lot of work to get started and run the business. If you take a vacation, you have no money coming in. </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">When should you consider hiring a team? </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">The goal is to produce multiple revenue streams that can operate without you. </span></li> <li style="font-weight: 400;"><span style= "font-weig