Passion Unleashed:

Solopreneurship!

# 5 From Fear to Freedom

The Joy of Being a Semi-Retired Solopreneur

Published Date

9 December 2024

Author

Michelle Knight,
The Life Passion Coach

Category

Transition Strategies

Today, I’ll be talking about the six key benefits of transforming your 9-5 job into a semi-retired solopreneur business of your own design. I would like to show you that it is possible to have your dream life and live it to the max, with passion and purpose. To find out more, you’ll have to read on.

Solopreneur working.
Interviewing my cat Twiggy, outside on the deck, for a role at ECL.

Bonjour mes amis et bienvenue! I am The Life Passion Coach, Michelle Knight, I’m a digital nomad, a passport stamp collector and an avid reader and motorcyclist. Today I want to talk to you about the six key benefits of transforming your 9-5 job into a semi-retired solopreneur business of your own design. I would like to show you that it is possible to have your dream life and live it to the max, with passion and purpose.

For me personally, one of the best things about owning my own business is the joy of creation. I get to create value every day. I get to add value to other people’s lives. I get to help people – this is a core need for me and it is sooo important that I can get to do this. In the last blog post, when I asked you why you find it so hard to find your purpose in life? I suggested that you figure out what your true needs were – Well “core needs” are just another name for the same thing. And I’ve figured out that helping other people is one of my core needs.

Maybe you too can find joy in being a business owner as you get to watch customers enjoy your products or services and have their needs fulfilled. You also see the direct financial rewards of selling your product or service.

One of the biggest things that hit me as a business owner, was that if a client wants to pay for only 20 hours of your time and work, that’s how many hours you work for them. None of that “work 60 hours and get paid for the same 40 hours” crap that an employer expects of their salaried workers. You can get paid for the value that you create, not the hours that you work.
Another big benefit of owning your own business that no one really talks about, is now I get to choose who is a part of my business – both as a client or as a team member. I don’t necessarily take on everyone who approaches me to work with them. And when I need a bit of extra help with some tasks, I can pick and choose who I ask to be a part of my team. I have full control over who I work FOR and who I work WITH.

Ok, so let’s start the ball rolling with a summary of the six key benefits you can realise for yourself, if you become a semi retired solopreneur:

  1. You can have flexibility and autonomy.
  2. You can derive personal fulfilment and growth along the way.
  3. You can leverage your accumulated experience and existing skill sets.
  4. You can gain the financial independence to let you live the life you want to lead.
  5. You can find your own work-life balance and look after your health.
  6. You can create a legacy that lives on long after you do.

Flexibility and Autonomy

When you start a business and are self-employed, you are your own boss and ultimately control your own destiny. This means that you have the autonomy to design your product or service according to your vision, and you have the flexibility to determine when and how you work.

Semi-retirement as a solopreneur offers the flexibility to create a work schedule that suits your lifestyle, allowing you to balance personal commitments, leisure activities, and work. You can design your day to fit whatever lifestyle you want to live, you work as much or as little as you would like to. If you get everything right, you may even be able to set up your own business, install a manager to run it for you and not have to work on it day-to-day. Of course, that is probably a wee way down the track.

And more importantly, you can have the autonomy to make decisions and run a business according to your values and vision, without being tied to a traditional 9-to-5 job. Without having to follow someone else’s poor leadership, you can learn how to grow and lead your own team, even if it’s just a couple of contractors to help you out with the more menial tasks. When you create your own business, you take control of your income and career trajectory, allowing for greater freedom in your personal and professional life.

six benefits of semi retired solopreneurs

Personal Fulfilment and Growth

Pursuing a passion-driven business can lead to a more fulfilling and satisfying retirement phase, keeping you engaged and motivated. I’ve already covered the health benefits and longevity that living a fulfilling life of purpose can bring in last week’s episode called “Finding Flow”. Go to my website to find a podcast episode and a blog post on the benefits of flow.

The journey to success is never over and continuous personal and professional growth through learning new skills, networking, and overcoming challenges helps to keep you sharp. I know I’m still learning new things every day – in both my business and in my personal development. In fact, I never want to stop learning new things. I have a thirst for knowledge and I challenge you to develop your own thirst for new knowledge that interests you!

Leveraging Experience and Skills

I have found that women in mid-life have accumulated a wealth of experience and skills throughout their careers, no matter what they might have been. This knowledge can be effectively utilised in a solopreneur venture. For example, maybe your new business can benefit from an established customer base, infrastructure, or a proven business model from your previous roles.

You can use your knowledge and creative skills to navigate any business issues that arise along the way, you just have to play to your strengths. This also helps to develop your self-confidence. You have the opportunity to turn your expertise and passion into a business that not only generates income but also brings fulfilment and purpose. It could be a business idea you’ve had for years but just never taken action on… now is the time of action!

Gaining Financial Independence

Building a solopreneur business can provide an additional source of income during retirement, contributing to financial security and independence. Or better yet, it can give you the ability to be SEMI retired at an earlier point in your life. This means you get to enjoy your personal time more, before your body starts to cause age-related concerns.

Financial independence also brings a sense of accomplishment and self-reliance, boosting your confidence and resilience. Having your own business reduces reliance on pensions, savings, or other traditional retirement funds, offering a buffer against economic uncertainties.

Work-Life Balance and Health

Solopreneurship allows for a balanced lifestyle, where you can prioritise health and wellness, and avoid the stress and burnout often associated with corporate jobs. It gives you the opportunity to integrate practices that promote physical and mental well-being into your daily routines. You can make the decision early on in your journey to take care of yourself along the way – to prioritise yourself and your health in a way that another employer just can’t. It empowers you to pursue your passions and interests, turning ideas into tangible successes.

Creating a Legacy

Building a business that reflects your passions and values can be a way to create a meaningful legacy, for your children and even your grandchildren. This also gives you the opportunity to mentor and inspire others, particularly younger women or family members, by sharing your journey and success.

By building a successful business, you can create employment opportunities for others and contribute positively to the economy, making a lasting impact on your community.
Be the change you want to see in the world.

Actually, this is not the first business I have tried to start. However, it is the only one that truly answered my calling, aligned with my purpose, and tuned into my Ikigai so perfectly. From the beginning, I knew I wanted to work for myself—to design my own workday, write my own future, create my own plans, and forge my own path. Yet, for the longest time, I let my dream of starting a business linger in the back of my mind, untouched. I did nothing about it.

One of my biggest fears was that if I started my own business, it would consume all my time—just like I had seen with so many other business owners. Time and time again, I watched friends who owned their businesses working 50, 60, or even 70-hour weeks, desperately trying to keep up with everything that needed to be done. Deep down, I told myself I didn’t want that life. I didn’t want my business to take over everything, so I didn’t even try.

For a while, I convinced myself that staying safe was the better option. However, after a period of self-reflection, I came to a life-changing realization: I was letting someone else’s mistakes and experiences dictate my choices. I was using their struggles as an excuse not to pursue my dream. Once I acknowledged this, I made a conscious decision to no longer let fear rule my life. I chose to start my business—on my terms—and take the first step toward living my dream.

As I embarked on this journey, I discovered new ways of doing things, strategies that ensured I wouldn’t need to work 70-hour weeks. In time, I realized that my friends had chosen to work those hours. They were the bosses of their businesses, and ultimately, they decided how much time to dedicate to work. This shift in perspective was liberating.

At that moment, I made a pivotal decision: I would design my business in a way that supported the lifestyle I had always envisioned. This choice became the foundation for the semi-retired solopreneur lifestyle I had dreamed of for so long. Now, I get to strike the perfect balance between doing meaningful work and enjoying the playtime I love. Along the way, I’ve prioritized my mental and physical health, making these non-negotiable parts of my journey. And you can do the same. You can find what works best for you.

So, here’s the point of my story: We all have fears, doubts, and those “scary stories” we tell ourselves that keep us from pursuing our dreams. These fears act as roadblocks, but they are also opportunities. They challenge us to reflect, grow, and prove that the hard work we put into our journey is worth it in the end.

The 6 key benefits of being a semi retired solopreneur

The path may not always be easy, but it will be rewarding. So, ask yourself this: Are you going to let your fears and self-doubt hold you back from reaching for your dream? Or are you ready to create the life you’ve always wanted, one bold step at a time? 

As Franklin D Roosevelt once said: “Courage is not the absence of fear, but rather the assessment that something else is more important than fear”.

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Each time we face our fear, we gain strength, courage, and confidence in the doing. Becoming a Semi-Retired Solopreneur allows you to take control of your own destiny and live a life of purpose. You have the freedom to work as much or as little as you want, while still enjoying the benefits of a traditional retirement. With Semi-Retired Solopreneurship, you can create the life you’ve always wanted.

Ultimately, I want to inspire, support, and challenge you to live your best life as a semi-retired solopreneur, guided by curiosity, collaboration, and unwavering passion. Are you ready to ignite your passions and still live a life of freedom? I help my clients build businesses designed for long-term sustainability, enabling them to enjoy a lifestyle of freedom while earning an income. If you are interested in working in partnership with me, go to my website and fill out the contact form to start a conversation with me.

   If you are interested in the details of the Freedom Pursuit Checklists, just go to my website and click on the button to fill out the form and receive the checklist you chose. Just remember, big change requires big support, and I’m here to help you through the transition from the rat race you’re running now to the passionate, fulfilled life you want for yourself.

Thank you for reading this BLOG post of the “Freedom Unleashed: Solopreneurship” Broadcast.  Believe in yourself and trust the process. Always look for new opportunities and be open to change. Enjoy the journey and make the most of it. Don’t be afraid to try new things. Take the first step, embrace the journey, and rediscover the excitement and purpose that life has to offer. Until next time, stay passionate.

I will leave you with my final thoughts:
BDK – Be Brave, Be Different and Be Kind. Remember: Laughter is the answer to everything.
Je vous remercie et je vous souhaite une bonne journée.

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