Solopreneurs

ARTICLES | May 22, 2023
Solopreneurs

Becoming a single entrepreneur is an exciting business trend, letting people work for themselves without employees.

 

Consultants, freelancers, content writers, marketers, online sellers, IT, web developers can hire temporary staff and use technology to reduce workload. There are estimated to be 41 million solopreneurs in the United States, according to the 2021 MBO Partners report. 82% of them are satisfied with keeping their business small and 56% really want to work alone. They enjoy full freedom and decision-making power but are exposed to stress and risks in areas such as finances, health.

 

Solopreneurs differ from other freelancers in building their corporate presence or brand on social media. Successful solopreneurs need passion for work, enthusiasm for learning, and decisiveness to pursue their vision. Solopreneur digital ecosystems (SDE) are expected to emerge in the future to meet their needs.

 

Implications for the future:

- Business law and entrepreneurship will play a greater role when the economy enters the Metaverse era where everyone, regardless of age, can find work from around the world and most jobs can be divided into pieces and done separately, especially in STEAM work

Gig economy trends, the HENRY (High Earners, Not Rich Yet) phenomenon, and the global recession may support the solopreneur trend and make it possible to soon have income from a regular job with part-time work on an occasional basis. An individual self-managed business brand will become commonplace.

 

 

Reference:

- What Is a Solopreneur? https://www.uschamber.com/co/start/startup/what-is-solopreneur

- Solopreneurs are Changing the Face of the Economy https://www.entrepreneur.com/article/420714

- Supporting Disadvantaged Solopreneurs from Developed Countries in Digital Ecosystem Career Choices. A Design Science Research Approach https://aisel.aisnet.org/icis2021/is_future_work/is_future_work/11/

- Peer learning in solopreneurship training as a driver of professional networks (2021) https://www.theseus.fi/handle/10024/498987

- Solopreneur Digital Ecosystems: Genesis, Lineage and Preliminary Categorization (2021) https://aisel.aisnet.org/bled2021/1/

- 6 differences between solopreneurs and entrepreneurs (2022) https://www.techtarget.com/whatis/feature/6-differences-between-solopreneurs-and-entrepreneurs

- The Six-Figure Solopreneur World: How Much You Can Earn As An Independent Beauty or Fitness Professional? https://www.entrepreneur.com/article/374104

- Solopreneur Vs Entrepreneur: What's The Difference? https://logo.com/blog/are-you-a-solopreneur-or-an-entrepreneu

 

 

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