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Artificial intelligence and other technological advances, along with the rise in the “gig economy,” have sent the number of solopreneurs in the United States soaring. SellersCommerce reports that in 2025, there are now 41.8 million solopreneurs, which means a whopping 85.8% of small businesses in the U.S. are solopreneurships.<\/p>\n
But just because there are 41.8 million solopreneurs, that doesn’t mean there are 41.8 million successful solopreneurs. Statistics indicate that many of these small business owners are struggling to gain a foothold in their market. In fact, a recent University of North Carolina study found that 21% of new small businesses fail in the first year and 50% fail within five years.<\/p>\n
In my work as a provider of advanced technology platforms to solopreneurs, I have discovered that there are five key mistakes the solopreneurs often make that prevent them from achieving profitability over the long term. Stop doing these things, and your chances of experiencing greater success skyrocket!<\/p>\n
Related: Solopreneur Success: 5 Tips for Growing a One-Person Business<\/b><\/p>\n1. Stop working without a plan<\/h2>\n
WinSavvy estimates that nearly one out of every three entrepreneurs start their business without a formal business plan. That means there is no set business structure to limit chaos, no roadmap to follow in difficult times and no set goals to maintain the solopreneur’s focus.<\/p>\n
Without a plan, these solopreneurs often find themselves working on the wrong things and pursuing the wrong business opportunities, which reduces their profits and puts the future of their business in jeopardy. So, take time to make a plan and then commit to following it. You’ll end up saving time and lots of stress, and you’ll dramatically increase your chances for success.<\/p>\n
2. Stop taking marketing for granted<\/h2>\n
When the budget is tight, it is easy to cut back on marketing, especially those campaigns that don’t produce direct profits. But this is almost always a mistake. There is an old adage, “You can have the best product in the world, but you aren’t going to make any sales if no one knows about it.” Well, guess what? This has become a popular saying for a reason \u2014 because it’s true. Solopreneurs should be using a variety of marketing techniques \u2014 from email marketing to content and referral marketing and more \u2014 to build their brand, attract new customers and generate more sales.<\/p>\n
3. Stop ignoring the financial side of the business<\/h2>\n
It’s not enough to simply send invoices to clients. Solopreneurs interested in long-term success must also track cash flow and routinely analyze financial data to assess business performance, identify trends and set more accurate goals for the future. The good news is that staying on top of financial data is much simpler today, thanks to a variety of easy-to-use tools, such as Stripe, Wave or Solowise. Many of these programs utilize AI and machine learning to instantly provide in-depth financial information in an easily understandable format.<\/p>\n
Related: 3 Challenges Every Solopreneur Faces and How to Overcome Them<\/b><\/p>\n4. Stop putting yourself second to your business<\/h2>\n
Starting a business is a massive undertaking, and it is understandable that many solopreneurs want to devote all their energy and attention to their business to give it the best chance for success. But the truth is, devoting all your time to your business and ignoring yourself and your relationships ultimately ends up putting your business at risk.<\/p>\n
It’s important for solopreneurs to have time away from their business to recharge their batteries. When you do that, you’ll be able to go back to your business and get more work done in less time. What you don’t want to do is perpetuate a cycle where you exhaust yourself with work, as you’ll get less done while making more mistakes. Take time to be with loved ones and to exercise and look after your health. Doing this responsibly will pay huge dividends as you move forward.<\/p>\n
5. Stop trying to do it all!<\/h2>\n
There are a number of reasons why solopreneurs don’t succeed, but by far, one of the most common is failing to effectively manage all the different aspects of their business.<\/p>\n
The truth is, solopreneurs have to be experts at a number of different things \u2014 from lead generation to sales to order fulfillment to customer service and more. While many have knowledge in some of these areas, very few have knowledge in all of these areas. That lack of knowledge and experience leads to an imbalance that typically proves to be too difficult for many solopreneurs to overcome.<\/p>\n
In the past, solopreneurs were limited in what they could do to shore up their weak areas. Their main options were to do hours and hours of research online and hope that the resources they came across were accurate, or spend money to purchase books, courses and other training material from self-proclaimed solopreneur experts.<\/p>\n
Now there is another option \u2014 technology. Today’s AI and machine learning (ML) platforms put information and resources at solopreneurs’ fingertips that they never had access to before \u2014 and they have been quick to take advantage of them. The U.S. Chamber of Commerce reports that 90% of small businesses in the United States use at least one AI program today. Here are some tools entrepreneurs can use: Calendly and Acuity for scheduling, Trello and Notion for project management, and Zapier for automation and productivity.<\/p>\n
When it comes to subscription-based services, it’s important to choose a tool that has all the features you need \u2014 without paying for unnecessary extras. So when choosing them, try to focus on the ones that are made for small businesses or solopreneurs.<\/p>\n
Related: Solopreneurs Are Quietly Building 6 to 7 Figure Empires \u2014 Here’s How<\/b><\/p>\n
The most successful solopreneurs have figured it out. They understand that they don’t have to do everything themselves. By utilizing technology and by prioritizing their own well-being, solopreneurs can avoid the traps that have caused so many to fail in the past. The key is to start small. Tackle one problem area at a time to avoid becoming overwhelmed. Then build upon your success. In no time, you could have a smooth-operating business that allows you to enjoy all the best benefits of the solopreneur lifestyle \u2014 like time freedom and wealth creation!<\/p>\n<\/div>\n
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Artificial intelligence and other technological advances, along with the rise in the “gig economy,” have sent the number of solopreneurs in the United States soaring. SellersCommerce reports that in 2025, there are now 41.8 million solopreneurs, which means a whopping 85.8% of small businesses in the U.S. are solopreneurships.<\/p>\n
But just because there are 41.8 million solopreneurs, that doesn’t mean there are 41.8 million successful solopreneurs. Statistics indicate that many of these small business owners are struggling to gain a foothold in their market. In fact, a recent University of North Carolina study found that 21% of new small businesses fail in the first year and 50% fail within five years.<\/p>\n
In my work as a provider of advanced technology platforms to solopreneurs, I have discovered that there are five key mistakes the solopreneurs often make that prevent them from achieving profitability over the long term. Stop doing these things, and your chances of experiencing greater success skyrocket!<\/p>\n<\/div>\n
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