Minzy’s decision to leave YG Entertainment was good for her overall, and is influential. (…) CL either left YG recently or is gonna leave the company soon.

One of the reasons why 2NE1 disbanded is because Minzy – the girl group’s main dancer, lead vocalist, and youngest member – decided to leave YG Entertainment during her group’s ridiculously long, two-year hiatus.

Since YG singers, producers, song writers, etc. work under the strict restrictions of their “company” – which is run by brothers Yang Hyun-suk and Yang Min-suk (both of whom I’ll refer to as the “company” throughout this post) – they seldom see their ideas and dreams realized.

That’s why Minzy left YG, and why CL has either left the company or is most likely leaving the company soon. 2NE1’s members didn’t just suffer from their final group hiatus; they became tired of wishing for group and solo activities to happen (since everything from song and TV appearances have to be checked and approved by their bosses), and annoyed by the lack of support from their company whenever they were criticized (about their appearance, skills, behaviors, and thoughts).

Continue reading “Minzy’s decision to leave YG Entertainment was good for her overall, and is influential. (…) CL either left YG recently or is gonna leave the company soon.”

Quick Thoughts on Solopreneurship

Solopreneurship is possible, but extremely difficult. In fact, there are just so many negative outcomes and aspects of solopreneurship.


1.) Zero Synergy

Synergy is essential to produce the best results in a given time frame and available resources.

And, of course, you can’t have synergy without team work.

Teammates who understand your vision for your business can offer some insight, evaluate your ideas (as if they were your target audience or customers), and help you accomplish tasks with skills that you either don’t have or are lacking in.

Having close or solid relationships with people you’re working with will produce much better results than contracting a freelancer who you don’t know much about aside from reading their resume or online profiles. Moreover, if you want someone you’re close to to help you out with something, you can offer service in return instead of money, he can return the favor with better service, and the cycle of giving and receiving goes on.

2.) Connections and References

The odds of getting connections and references as a one-man team are slim.

Yeah, you can go to networking events, but you’ll feel a loner.

Even worse: it’s pretty bad to just present yourself to other people you’re trying to network with.

If you go to a networking event with a team and have a teammate talk about you, then it makes your profile much more credible to other people because you weren’t “bragging” or just making up information about yourself.

3.) Longer Hours

Solopreneurs usually focus on strengthening one skill while trying to multitask. The problem with that is it’s draining. And inefficient.

A solopreneur who contracts people to work for him isn’t really going to save much time for himself because he has to get to know these strangers he’s hiring, make sure they understand his vision, etc. etc.

4.) Loneliness

Okay, not all solopreneurs will feel totally lonely or have depression because of it. But there’s no denying that they’re sacrificing so much time and energy that could’ve been better well-spent. They spend everyday and every weekend building their businesses, and sometimes they will feel that sense of loneliness.

5.) Narcissism

Just like the previous point, not all solopreneurs will become narcissists. But they may present narcissist traits to make themselves feel better when either no one else can or when they interact with people.

6.) Failures

Few entrepreneurs become successful, and a tiny portion of them are solopreneurs.

People who choose the solopreneur route and choose to stick with it are eventually doomed to failure.

Yes, there are some entrepreneurs who started off solo. Yes, started. But a great majority of them who became mega-successful didn’t continue to be solopreneurs. Products and services that are either in high-demand or have the potential to become high-demand eventually need team work to popularize them outside their local neighborhood and into a national or global market.

Think you got a million dollar idea? You can either test the idea out yourself (with your own pocket money, time, and energy), or you can get feedback from teammates who can foresee potential failures before you walk into tar.


If you’re thinking of pursuing the solopreneur route, then please make sure that your idea is, indeed, worth a million dollars (or somewhere along that ballpark). Otherwise, you’ll end up swimming in debt, wondering what you could’ve done when you should’ve relied on an expert who you could’ve partnered up with.

How Business Owners Pay Themselves

They can receive a dividend.

  • A dividend is a sum of money paid regularly (usually quarterly) by a company to its shareholders out of its profits or reserves.
  • It’s not taxed if it’s a return of the capital to the shareholder.
  • It’s usually paid in cash.
  • Owners can have a dividend of stock or other assets.

 


 

They can loan themselves.

  • A shareholder loan is a debt-like form of financing provided by shareholders.
  • The loan must have (1) a stated interest rate, (2) a maturity date, and (3) covenants for non-repayment.
  • If the loan is below-market, it will be treated as some other payment.

 


 

They can do an owner’s draw.

  • An owner’s draw is money taken out of a business by its owners.
  • The draw isn’t taxed at the company-level.