Hey, thanks Opher. Very well thought out push back and I appreciate it. My thought on this: I hesitate to call a solo practice a company unless of course there is infrastructure around it, not just someone doing a DBA (doing business as), and I’ve done both.
That said, I want readers to understand the expectation that just because you create a company, be it solo or whatever, it’s still going to cost time and money to make it sustainable.
I started a solo consulting practice in 2003 as a DBA. A couple years into it I hit a ceiling in terms of income, making about as much as I would make in the employment market after my outlay to keep the company up. Then I incorporated, spent money to go get more business, hire, and turn it into a company rather than a solo operation. That took a little under $250K and three years. It’s a risk every solo takes when they want to make a run at it.
No shame in doing the solo thing, but it’s really, really hard to get past that ceiling unless you spend.