Another advantage of a solo practice

One of the great strategic advantages of the practice model is agility.

Most business take one idea, or one key product, and live or die by the success of that venture. If the hypothesis - that people will buy this widget for this much money - is proven correct, the business thrives. If the opposite occurs, and the market doesn't want that widget at that price, the business dies.

Or if the market changes, or a new competitor comes in, the business can be in trouble.

As my friend and Thought Leaders founder Matt Church talks about in this video - in the practice game it's very different. We test a lot of commercial hypotheses in the market, and as solopreneuers we can react quickly, develop things on the fly, and act with far more agility than a normal business.

This is one of the great competitive advantage of the practice.