10 Years, 10 Truths: What Building My Own Business Really Taught Me - Lesson 6

The highs and lows of going solo

For four years, I taught MBA students two nights a week while building my consulting business by day. On paper, it made perfect sense: prestige, purpose, and a chance to shape future leaders. But in practice, it nearly drained the life out of the business I actually wanted to grow.

By Wednesday morning, I was already 40+ hours into my week and running on fumes. I’d sit at my desk, staring at my to-do list, too tired to focus. Teaching paid a fraction of my consulting rate, and even though I loved the students, I started to feel the weight of what I wasn’t building.

I’m not a quitter, so I stuck with it—for four years.

The highs: sunshine and wins

Saying No
You’ll hustle in the early years, but once you find your footing, you’ll quickly recognize the clients and projects that fit—and those that don’t. The saying “when people show you who they are, believe them” applies as you hone your sales radar. One of the greatest joys of solo work: you can say no when it suits you.

If a project looks like a clown car - skip it. Need time to care for a child, parent, or friend—block it off. Hate work travel or endless Zooms - say no.

Pro tip for declining a project, do it with grace. Communicate that you’re unavailable, and recommend another resource or person who can help.

Flexibility and Portability
I intentionally built this business to be portable so one day, I could live part-time abroad or work anywhere with Wi-Fi. Building something that’s yours, that travels with you, takes time but it creates something enduring and sustaining.

You may not make as much as in a full-time W2 job, but what you lose in annual income, you gain in years working. I’ve chosen to flatten out the stress, workload, and income and make it last longer.

I’m not interested in grinding for a few years and then stepping away. I actually enjoy the work itself - contributing, creating, and connecting - sometimes for pay, sometimes as a gift, always on my own terms. Research shows that real happiness in retirement comes to those who maintain purpose, challenge, and connection. This work gives me all three.

It also gives me freedom. The ability to keep evolving, to work from anywhere, and to stay engaged in ways that fit each new chapter of life. That’s the beauty of building something you own: it adapts as you do.Teaching gave me status. Consulting gave me all three.

Surfing the Growth Curve
Over these 10 years, I’ve had an enormous learning growth spurt. Being solo forces you to continually streamline and simplify - using tools like Google Workspace (game-changer), AI, virtual assistants, subcontractors, and social media. If you’re over 50 like me, this is a powerful relevance booster. Staying current on evolving tools isn’t just efficient - it’s energizing.

And here’s another bonus: confidence. Being the product you sell, while scary as hell, is an incredible confidence builder. I remember feeling imposter syndrome in the early days - certain a client would call me out. Never mind that I’d spent two decades in corporate leadership roles. Imposter syndrome doesn’t discriminate! But after a few years, I found my stride. I learned to charge my worth, own my expertise, and compete head-to-head with big firms.

In hindsight, I think corporate life had chained me a bit - like the elephant who grew up tethered to a small stake. When he’s young, he pulls and struggles but can’t break free. Years later, even when he’s strong enough to snap the chain, he doesn’t try. He’s been conditioned to believe he can’t. That was me. I had the strength and experience all along - I just needed to step away to see it.

Going solo made me realize the constraints were imaginary.

The Lows: Rain and Realities

Loneliness
I loved working on teams. Leading, mentoring, building relationships that lasted decades. Solo work, by definition, is… solo. There are ways to counter it like renting office space with like-minded people, building monthly meet ups, hiring subcontractors. These all help create community and connection, but it’s not quite the same as being part of a full-time team.

Lumpiness
A friend once described her solo business revenue as “lumpy,” and I’ve never forgotten that term. It fits perfectly. If steady paychecks, predictable vacation days, and employer-provided benefits are your top priorities, solopreneurship probably isn’t for you. My annual revenue can be lower, but my work life - its sustainability, satisfaction, and freedom - has stretched far longer.

ABC: Always Be Closing
Selling, selling, and then selling some more - it’s the rhythm of solopreneurship. I’m not a prototypical salesperson, and I’ve found that to be an advantage. As Daniel Pink shared in To Sell is Human, the best salespeople aren’t always chatty extroverts - they’re curious listeners who understand their clients’ needs and design solutions that fit.

 

So, is solo for You?

If you enjoy quiet, focused work and getting into deep flow - this might fit.
If you know your worth and can pitch your value - this might fit.
If you can assemble teams from your network and adapt to what the market needs - this might fit.
If you can give it time to play out - this might fit.

Time is the greatest investment you can make in your small business. Clients start to trust your staying power after about three years. Everything after that? Icing on the cake.

 

Thinking about striking out on your own? I’ve been there — and I’m always happy to share what worked, what didn’t, and what I wish I’d known sooner.

No agenda, just conversation.
[Let’s chat for 30 minutes]