The pace of technological change is accelerating, big players like Microsoft, Amazon, Google, and OpenAI are winning by providing infrastructure, large AI foundation models, frameworks, 3D Metaverse experiences, and massive distribution networks. Solopreneurs, on the other hand, are developing their own business models, applications, and innovative technologies that will become a key part of our future economies.
I recently met with James R. Martin, founder and CEO at Cogent Capital, and I had a lot of fun talking about this topic! He’s an incredible guy who has been working in blockchain technology for more than 35 years! As someone who was introduced to both Bitcoin and Ethereum, he’s had experience in deploying decentralized autonomous organizations (DAOs), non-fungible tokens (NFTs), NFT drops, and all the amazing things we have seen over the last few years.
Some of his most exciting projects include creating the world’s largest open-source metaverse, which includes building up a $400 million dollar DAO. His company also created the first tokenized NFT drop marketplace called CryptoPunks which raised over $1 billion dollars. This was one of my favorite parts of the interview because it made me realize how far people have come in just five short years from when they started reading the news, and how much impact we can make if we keep going.
Solopreneurs are those developers who create the next generation of businesses and entrepreneurs while still staying within the traditional boundaries of what they know best. They typically do not need access to advanced education or government funding; instead, they can focus on creating software products, web apps, or tools that solve real problems people face every day.
These individuals are often highly motivated and work hard to stay ahead of the curve just to stay relevant in today’s market. While Solopreneurs come in many different forms, there are three subtypes: SOPs (Software Product Owners), LPs (Leaders) & CPAs (Chief Programming Officers). These people have a deep understanding of developing specific solutions that address current challenges.
They are focused on solving real problems faced by customers or clients that require technical expertise but the customer doesn’t necessarily understand it. Instead, the developer provides training data and resources to help others learn. For example, some of the biggest companies in Silicon Valley, such as Apple, Google, Facebook, and Tesla, use product owners to build their own versions of these things and push them to market. Others may go directly into production, however, using smaller teams to get everything ready before launching.
They have high levels of responsibility without any managerial authority, they think outside the box, and are able to take risks. It is important to note that Solopreneurs can be managers, too. You can also see this type of leadership in certain startups and venture capital funds.
The second category is known as Leaders, otherwise known as CEOs. They have a wide range of responsibilities, including strategy, innovation, sales, finance, marketing, and overall management. But being a leader requires having higher levels of responsibility. In addition to having a significant amount of influence, leaders must also be able to lead and drive results.
They are expected to be strategic thinkers, capable of looking beyond their immediate surroundings and identifying opportunities that improve the way other elements of the organization operate. This would include taking calculated risks, finding new opportunities, and expanding the scope of your offering. This is critical to be able to scale your business.
The third group would be Chief Programmers, better known as CPAs (Chief Programmers). These are individuals who have a strong background in programming languages, frameworks, databases, and APIs. Being programmers, they are responsible for maintaining software code. However, unlike the two previous categories, who primarily deal with coding languages and APIs, they tend to focus on developing the application itself rather than coding languages or frameworks.
Also, unlike the two previously mentioned categories, CPAs are mostly used in early stages of development, where they are required to manage multiple teams and develop cross-functional skills.
It is clear that there are many facets to each category. Each group brings unique strengths which makes it possible for founders to find an individual or team who fits into a particular category. By investing in various types of professionals, you will be able to gain an idea of what works or doesn’t for the future.
I always recommend investors avoid “too” diversifying a portfolio because it usually leads to riskier investments, especially if you are investing in tech startups! There are countless ways to diversify your portfolio. For example, consider buying bonds or stocks in sectors you don’t currently invest in, or even purchasing cryptocurrencies, and buying fractional shares or options in tech stocks. Not only does this allow your portfolio to grow faster, but it allows you to potentially gain financial benefit in case something goes wrong.
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