Transcript
A (0:00)
For the ones who get it done, the most important part is the one you need now and the best partner is the one who can deliver. That's why millions of maintenance and repair pros trust Grainger because we have professional grade supplies for every industry, even hard to find products and we have same day pickup and next day delivery on most orders. But most importantly, we have an unwavering commitment to help keep you up and running. Call clickgrainger.com or just stop by Granger for the ones who get it done.
B (0:30)
This is Scott Becker with the Becker Private Equity and Business Podcast. Today's discussion is this discussion of the solopreneur versus Building teams and I'd love your comments on this chapter. It's going to be a chapter from a book. It's a podcast today and if you want to send me a comment or comments at 773-766-5322 I would just love your your your comments throughout the book. When I get to the book in more depth, we'll talk in depth about teams, niches, customers and some of the things we always talk about. But but here in in this in this podcast, this chapter, we're discuss this concept of solo solopreneurs or what I like to offer to call the myth of the solopreneur. The concept of the solo entrepreneur. It's talked about often on X and social media. It's the idea that one can by themselves build a serious business. In my experience, I've tried both the concept of going it alone and the concept of building the growing teams. Personally, I have found time and time again that it's incredibly difficult to build anything serious as a solopreneur. Sure, you could build a business that can pay your bills and and run it by yourself. You could run a subway by yourself, though I guess that's not really a solopreneur. And there are a lot of things you can't do by yourselves. You could be a writer perhaps, but you still need people to help you on the publishing and everything else. There are a lot of things you could do as a solopreneur, but it's very hard for me to see many of them they could do without some help or some assistance. Whether you outsource key parts of the business or hire people full time. My sense that it's really nearly impossible to build a serious business without building teams. They could be outsourced teams. They don't want to be full time teams. But but even there with most serious businesses, you'll need some full time people Every day to really build something is my impression. The great entrepreneurs in our country are iconic and sometimes I feel like these people on X or social media are looking up to them as though like, look, you could be a solopreneur or something special, but. But the reality is all of them, whether Steve Jobs, Elon Musk, Bill Gates, Judy Faulkner or so many others, none of them were solopreneurs. All of them built with serious teams in building a law practice. This practice really grew as I began to build a team. This allowed me to take care of clients. Also having the time to try and bring in new clients at Becker's Health Care. Similarly, the business did fine for several years when I outsource everything, but it really grew when I started to hire full time employees and build a team. Obviously many of those teammates were absolutely extraordinary and that's a different story. You could be a solo business, sure. You could be a consultant or a writer or an executive coach or many other things. Therapist that I speak with has what I think is a solopreneur business. My sense is though, if you want to build something serious or big, you're likely to have to commit to building larger teams. They could be outsourced, they could be internal. But my experience is there's really no way around ultimately having a core full time internal team. Thank you for listening to the Becker Private Equity Business podcast again. We'd love your comments. We hope you enjoy this. 773-766-5322. Thank you very much.