Solopreneurship, once viewed as a fallback option or side hustle, is now being intentionally chosen by individuals seeking to establish successful businesses. Despite initial skepticism regarding the profitability of such ventures, solopreneurs are building businesses that reach six and seven-figure revenues, often with minimal outside assistance.
A solopreneur is an entrepreneur who independently runs a business without a co-founder or traditional team. They handle various aspects of the business, including strategy, marketing, operations, and delivery. This versatility is often augmented by technology, contractors, or automation, enabling them to scale their impact.
A 2024 study by Intuit revealed that 65% of solopreneurs claim to earn more income working independently than as employees. Additionally, 50% of currently employed individuals expressed interest in starting their own business within the next year.
Technology plays a significant role in the growth and scalability of solopreneur businesses. AI-powered tools help to streamline and automate everyday tasks, while platforms such as LinkedIn facilitate the establishment of thought leadership. The ability to leverage technology allows solopreneurs to accomplish tasks that previously required entire teams.
The agility of solopreneurs allows them to quickly adapt to market shifts, seize unexpected opportunities