why-you-need-to-become-a-lone-wolf-entrepreneur
Lone Wolf Entrepreneur

Why You Need To Become A Lone Wolf Entrepreneur

With the current situation we all find ourselves in with regards to the outbreak, not many people can say their job is truly secure.

Businesses have closed and it seems many more are struggling to the point that they may close as time goes on.

Even people who currently have a job are finding their hours cut as their employer contends with lower traffic at their business due to social policies.

Other are being told to work from home by using various technology such as video conferencing etc.

You, yourself may have experienced, or at least witnessed, the aspects I describe above.

My angle with the Lone Wolf Entrepreneur is simply to suggest that people set up their own online income.

 

Disclosure : Some of the links below are affiliate links, meaning, at no additional cost to you, I will earn a commission if you click through and make a purchase.


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The World Has Changed

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There are many ways to make money online and with the current boom in e-commerce it is a mini goldrush at this point.

If you lost your job today, would you be able to survive financially?

It is not like the old days where you could just go out and get another job.

Is it possible?

At this point yes.

But is it hard, and getting harder, to find employment?

Yes.

As I said, many places are closing, cutting hours, or laying off staff to reduce overheads.

The amount of people currently unemployed and looking for work is substantial.

Looking for a job means being one of MANY applicants.

As with supply and demand in any economic situation, if the supply outstrips demand, prices fall.

I honestly think we could start to see a decrease in the wages offered as businesses looking to reduce overheads find a large supply of people ready to do jobs for less pay just to survive.

As more people lose their jobs or have their hours cut in an area, then so the amount of money spent with local businesses in that area declines.

Revenue drops, then so the business may be forced to reduce hours, lay off staff or close.

Even less money circulating to be spent at local businesses and so the cycle goes.

With this in mind, I revamped this site with the aim of encouraging people to establish their own income.

Due to all the current social policies and numerous businesses closing people are increasingly choosing, or are forced, to shop online.

This is a golden opportunity for people who take advantage of this.

The primary reason is of course the scope for revenue.

A physical location business has limited business hours and also primarily relies on people coming into the location, so is mainly reliant on local customers.

An online store is open 24 hours a day and is available to pretty much anyone in the world who has an internet connection and a shipping address.

The scope for revenue is far larger and also mainly immune to any lockdown policies put in place.


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So What Exactly Is A Lone Wolf Entrepreneur?

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In it’s simplest form, it is someone who works on their projects alone.

Most entrepreneurs work in teams or have extensive networks of other entrepreneurs they can collaborate with or even outsource tasks to.

Now this is not to say that being a Lone Wolf Entrepreneur means you should shun other entrepreneurs or not outsource projects to get results.

It simply is a form of entrepreneurship in which the person primarily works alone on their ventures.

It may be due to circumstances such as not having other likeminded or talented people around them

It may just be that they manage a venture that needs very little outside help.

Some people just prefer it that way.

Personally, I prefer to work alone, hence why I started this website.

Working alone, I discovered that finding resources and reliable information can be time consuming.

So I decided to build this site as a resource for other entrepreneurs who may find themselves, or prefer, working alone.

I will reach out to other entrepreneurs for information and I will outsource tasks if it suits my purposes.

But overall, I like working alone.

I rise and fall on my own merits, and do not have to answer to anyone else.

I have structured my ventures to work this way, and I’m as happy as I can be working alone.

Could that change in the future?

Perhaps, according to ventures and opportunities, but as it stands, I’m lone wolf by design and I have no intention to waver from this path.


become-a-lone-wolf-entrepreneur

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Working Online Is The Path To Financial Freedom And Security.

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Being able to work online at home is extremely important in the current situation we all find ourselves living in.

We have all experienced the lockdown scenario and the impact it had on the world.

I described above how jobs are not secure these days and also how ecommerce is booming due to various factors.

To be able to provide your own income and work from anywhere with an internet connection is a seriously valuable asset to have.

If you lose your job, then you still have money coming in and can also use your time to your benefit rather than sprawling on the couch waiting for a potential call back from resume drops.

The ability to work from anywhere also gives you the flexibility to move location should you choose to.

A physical store usually has an established local clientele base and is basically tethered to being located in suitable locations.

If your business is online, you can live in a cabin in the woods so long as you have an adequate internet connection.

With the current issues some urban centers are experiencing, many people are moving to more rural locations.

Someone who works a job or owns a physical location business is tied to living where the business is located.

If the area goes into economic decline the business will go with it, and so will many jobs that rely on it.

As I said earlier, the internet is a global business model and is nowhere near as constrained.


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But What Kind Of Online Business Can I Do?

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There are countless ways to make money online.

I will give a few examples to illustrate my point.

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Physical Products

 

This may be things such as someone starting a t-shirt business or an Ebay store.

Someone may hand make items such as jewelry and sell them online then ship them to the customer.

The scope for selling physical products online is immense.

Look at Amazon, Ebay, and Etsy as reference points.

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Digital Products

 

Digital products may be things such as apps for phones, self published kindle/e-books, and even YouTube videos.

The beauty of digital products is that they require no physical inventory space or shipping.

They can be created online, sold online, and delivered online.

A true lone wolf entrepreneur business model.

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Third Party Products

 

There are two main ways of selling third party products online.

Drop shipping and affiliate marketing.

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Drop Shipping

 

This model involves joining a drop shipping network and finding wholesalers for physical products.

The entrepreneur would then sell them online at a profit and organize the wholesaler to ship the physical product to the customer.

For example, someone may find a wholesaler for electrical products.

They may find a model of laptop that retails for $800 but they can get it from the wholesaler for $500 including shipping.

They would then list it for sale online, either on their own site, or somewhere like Ebay.

The price may be set at $650 shipping included.

When someone buys the laptop, the entrepreneur would forward the $500 and customers shipping details to the wholesaler.

The wholesaler would then handle the transaction from there as far as shipping and returns etc.

The entrepreneur would keep the $150 difference.

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Affiliate Marketing

 

This model involves posting links to third party sites that sell products in exchange for commission.

For example.

An entrepreneur has a blog and social media following based around health and fitness.

He joins the amazon affiliate program. (One of the most famous affiliate programs in the world)

He then posts links to fitness products, such as protein powders, on amazon within his blog content and social media posts.

If anyone clicks on the links they are taken to the sales page on amazon for the product.

If they buy the powder, then the entrepreneur/affiliate gets a commission.

So, if the commission rate was 5% and the protein powder was $60, then the affiliate would earn $3..(5% of $60)

Affiliate programs usually pay commission on anything the customer buys.

So if someone clicks through his link to amazon and ends up buying various items that total $600, then the affiliate earns $30 just off that customer.

Amazon would handle the entire transaction as normal.

The affiliate simply posts the links, they do not interact with the customer in any form as far as purchases.

You have most likely clicked on affiliate links to amazon in the past and never knew.

The customer does not pay any extra for purchasing through affiliate links.

It is simply a referral link.

Affiliate marketing is big business and is used by some of the largest online companies.

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Amazon

Ebay

Best Buy

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The list is endless and many more companies are opening up affiliate programs as they increase their online presence due to the current world situation.

If you are interested in affiliate marketing then I have written an article you should read to learn more details.

I personally use affiliate marketing and think it is one of the best ways to work from home and to also operate as a Lone Wolf Entrepreneur.

 

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If you are interested in learning the skill set for affiliate marketing, then consider taking advantage of the free membership at Wealthy Affiliate.

Wealthy Affiliate has been in business for 15 years and has 1.4 million members.

It is an all in one training platform that uses step by step training tutorials and videos to teach the full skill set needed to become a professional full time affiliate marketer.

It’s free to join up and all you need to do is enter an email and create a user name.

You can access the training and start today or simply take a look around.

There is a premium membership option that allows you to access advanced tools and training, but this is completely optional.

I suggest creating a user profile so you can ask questions via the built in social media platform and follow other users to see how they utilize the training.

I have personally been a member for many years and if you join you can contact me on there and ask me questions if you wish.

I will do my best to help you and guide you in the right direction.

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Wealthy Affiliate Free Membership

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Conclusion

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The world has changed around us and we all need to take our financial security into our own hands as much as possible.

I have been a lone wolf entrepreneur for 2 years now and have various ventures that allow me to live life on my own terms.

Is it hard and kind of scary?

It can be, but not as hard as allowing my life be dictated by a schedule someone else sets and not as scary as entrusting my financial security to someone else in the current economy.

Being a lone wolf entrepreneur allows for freedom and security.

There are various ways of doing it, and I urge you to give it consideration.


The Lone Wolf Entrepreneur Book

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A Lone Wolf Entrepreneur is someone who builds their own financial success.
Someone who lives life on their own terms.
They are self-motivated, self-disciplined, and self-accountable.
Goals are set, and they typically work on their projects alone.
This is not to say they won’t collaborate with others on projects if it is in their interests.
But they realize that when all is said and done, it’s their actions that provide their results.
The lone wolf entrepreneur has a spirit of freedom in all aspects of their life.
They plan their own personal goals and manage their own time and money to achieve them.
Self-accountability is a core trait of a lone wolf entrepreneur.
They set themselves high standards and try to surpass them, let alone meet them.
The lone wolf entrepreneur is an alpha personality who hates answering to anyone as a subordinate.
They hate the confines of a job and often dislike being told what to do.
Like a wolf trapped in a cage, the lone wolf entrepreneur yearns to run free and go where they may.
A lone wolf entrepreneur may be alone simply due to the fact of not having like-minded people around them.
But the lone wolf will still hunt their goals down alone.
The burning desire is the hunt.
The prey is success.

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the-lone-wolf-entrepreneur-book

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Available On Amazon In Paper Back And Digital Format

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Read More About The Book

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Further Reading

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how-to-make-money-from-the-online-shopping-boom

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How To Make Money From The Online Shopping Boom

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why-you-should-start-your-own-online-business

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Why You Should Start Your Own Online Business

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