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Synthetic intelligence and different technological advances, together with the rise within the “gig financial system,” have despatched the variety of solopreneurs in the USA hovering. SellersCommerce reports that in 2025, there at the moment are 41.8 million solopreneurs, which implies a whopping 85.8% of small companies within the U.S. are solopreneurships.
However simply because there are 41.8 million solopreneurs, that does not imply there are 41.8 million profitable solopreneurs. Statistics point out that many of those small enterprise homeowners are struggling to achieve a foothold of their market. The truth is, a current College of North Carolina study discovered that 21% of recent small companies fail within the first yr and 50% fail inside 5 years.
In my work as a supplier of superior expertise platforms to solopreneurs, I’ve found that there are 5 key errors the solopreneurs usually make that forestall them from reaching profitability over the long run. Cease doing these items, and your probabilities of experiencing better success skyrocket!
Associated: Solopreneur Success: 5 Tips for Growing a One-Person Business
1. Cease working and not using a plan
WinSavvy estimates that just about one out of each three entrepreneurs begin their enterprise and not using a formal marketing strategy. Meaning there isn’t any set enterprise construction to restrict chaos, no roadmap to observe in troublesome occasions and no set objectives to keep up the solopreneur’s focus.
With no plan, these solopreneurs usually discover themselves engaged on the improper issues and pursuing the improper enterprise alternatives, which reduces their income and places the way forward for their enterprise in jeopardy. So, take time to make a plan after which decide to following it. You may find yourself saving time and many stress, and you will dramatically improve your possibilities for achievement.
2. Cease taking advertising as a right
When the funds is tight, it’s straightforward to chop again on advertising, particularly these campaigns that do not produce direct income. However that is virtually at all times a mistake. There may be an outdated adage, “You’ll be able to have one of the best product on the planet, however you are not going to make any gross sales if nobody is aware of about it.” Nicely, guess what? This has change into a preferred saying for a cause — as a result of it is true. Solopreneurs must be utilizing a wide range of advertising strategies — from email marketing to content material and referral advertising and extra — to construct their model, appeal to new clients and generate extra gross sales.
3. Cease ignoring the monetary aspect of the enterprise
It isn’t sufficient to easily ship invoices to shoppers. Solopreneurs involved in long-term success should additionally track cash flow and routinely analyze monetary knowledge to evaluate enterprise efficiency, establish developments and set extra correct objectives for the long run. The excellent news is that staying on prime of economic knowledge is way easier right this moment, because of a wide range of easy-to-use instruments, reminiscent of Stripe, Wave or Solowise. Many of those packages make the most of AI and machine studying to immediately present in-depth monetary info in an simply comprehensible format.
Associated: 3 Challenges Every Solopreneur Faces and How to Overcome Them
4. Cease placing your self second to what you are promoting
Beginning a enterprise is a large endeavor, and it’s comprehensible that many solopreneurs need to dedicate all their power and a spotlight to their enterprise to provide it one of the best likelihood for achievement. However the fact is, devoting all of your time to what you are promoting and ignoring yourself and your relationships finally finally ends up placing what you are promoting in danger.
It is necessary for solopreneurs to have time away from their enterprise to recharge their batteries. While you try this, you can return to what you are promoting and get extra work achieved in much less time. What you do not need to do is perpetuate a cycle the place you exhaust your self with work, as you will get much less achieved whereas making extra errors. Take time to be with family members and to train and take care of your well being. Doing this responsibly pays enormous dividends as you progress ahead.
5. Cease making an attempt to do all of it!
There are a variety of the explanation why solopreneurs do not succeed, however by far, one of the widespread is failing to successfully handle all of the totally different facets of their enterprise.
The reality is, solopreneurs should be consultants at quite a few various things — from lead generation to gross sales to order achievement to customer support and extra. Whereas many have information in a few of these areas, only a few have information in all of those areas. That lack of information and expertise results in an imbalance that usually proves to be too troublesome for a lot of solopreneurs to beat.
Previously, solopreneurs have been restricted in what they may do to shore up their weak areas. Their principal choices have been to do hours and hours of analysis on-line and hope that the assets they got here throughout have been correct, or spend cash to buy books, programs and different coaching materials from self-proclaimed solopreneur consultants.
Now there’s an alternative choice — expertise. At this time’s AI and machine studying (ML) platforms put info and assets at solopreneurs’ fingertips that they by no means had entry to earlier than — they usually have been fast to reap the benefits of them. The U.S. Chamber of Commerce reports that 90% of small companies in the USA use not less than one AI program right this moment. Listed here are some instruments entrepreneurs can use: Calendly and Acuity for scheduling, Trello and Notion for challenge administration, and Zapier for automation and productiveness.
In the case of subscription-based companies, it is necessary to decide on a device that has all of the options you want — with out paying for pointless extras. So when selecting them, attempt to deal with those which are made for small companies or solopreneurs.
Associated: Solopreneurs Are Quietly Building 6 to 7 Figure Empires — Here’s How
Probably the most profitable solopreneurs have figured it out. They perceive that they do not should do all the pieces themselves. By utilizing technology and by prioritizing their very own well-being, solopreneurs can keep away from the traps which have brought about so many to fail previously. The secret’s to start out small. Deal with one downside space at a time to keep away from turning into overwhelmed. Then construct upon your success. Very quickly, you might have a smooth-operating enterprise that permits you to take pleasure in all one of the best advantages of the solopreneur way of life — like time freedom and wealth creation!
Synthetic intelligence and different technological advances, together with the rise within the “gig financial system,” have despatched the variety of solopreneurs in the USA hovering. SellersCommerce reports that in 2025, there at the moment are 41.8 million solopreneurs, which implies a whopping 85.8% of small companies within the U.S. are solopreneurships.
However simply because there are 41.8 million solopreneurs, that does not imply there are 41.8 million profitable solopreneurs. Statistics point out that many of those small enterprise homeowners are struggling to achieve a foothold of their market. The truth is, a current College of North Carolina study discovered that 21% of recent small companies fail within the first yr and 50% fail inside 5 years.
In my work as a supplier of superior expertise platforms to solopreneurs, I’ve found that there are 5 key errors the solopreneurs usually make that forestall them from reaching profitability over the long run. Cease doing these items, and your probabilities of experiencing better success skyrocket!
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