If someone wanted to start a lemonade stand when I was a kid, I’d be the one to write a. So it came as no surprise to me or anyone who knows me that I decided to venture out on my own.
I’d always intended to run my own company. Now that I know, I’m on a mission to assist solopreneurs in their endeavors. It’s something I’m very enthusiastic about.
Because I was attempting to manage my own life, PocketSuite was born. I was living in, and he was living in before my husband and I married. More than three days a week, I’d be on a plane or train traveling back and forth. So I was responsible for everything in the house: cleaning, shopping, time with my hairstylist and esthetician, fitness and life coaching sessions, and so on. I was having many trouble booking services, confirming appointments, and receiving and paying invoices because I was using so many different apps.
So my husband, a NetSuite software engineer, created the first version of PocketSuite to help me do everything from a single mobile app. It turned out that many of our service providers required assistance as well, so it took off.
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promoting solopreneur success
Working with solopreneurs and overcoming some of the challenges of starting and running a business has made me realize that solo companies are undervalued in this country. That is something I want to change. We hear chapter and verse about companies with 500 or more employees and their hiring, investing, and outsourcing practices. They’ve been extensively researched.
In a solo business, you don’t have that level of transparency, which understands what makes them successful and contributes to the larger market. As a society, I believe we are the poorer for it. Consider this: 76 percent of all businesses in the United States, or 24.9 million people, have no employees. Consider how much stronger the US economy would be if you helped them operate even 1% better. We’d have a negative rate if you helped them hire just one employee.
Surprisingly, the pandemic is on the rise. The unemployment rate initially soared, reaching a high of 14.8 percent in April 2020. However, people began to get creative and start businesses, with over 500,000 applications for an employer identification number being submitted between March and May 2020.
That’s fantastic, and it’s never been easier to do it successfully. Technology has effectively leveled the playing field between substantial businesses and independent professionals now that we have payment platforms and global tools.
However, the reality is that starting and maintaining an is difficult. Approximately 80% of small businesses fail within the first five years. It shouldn’t be as difficult as it is. Given the current state of uncertainty and the fact that nothing can be taken for granted in the future, it is more important than ever to ensure that solo businesses can stay in business.
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Creating a successful solo business
Solopreneurs seek best practices and back-office support to achieve their income goals and earn six figures or more. I’ve spent years gathering data and insights to help solo entrepreneurs stay organized, run their businesses more efficiently, and attract more clients. That’s why, in the coming weeks and months, I’d like to use this space to share lessons learned and insights from the thousands of solopreneurs I’ve seen grow their businesses from side hustles to six-figure enterprises.
People who work for themselves are happier, more fulfilled, and possess a unique sense of self-determination. There is no limit to what they can earn and achieve and the amount of prosperity they can bring to society. I hope you’ll join me in my quest to make being a solopreneur as appealing and lucrative as being a surgeon, an investment banker, or a software engineer.