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🎨 Solo-Entrepreneurship is Reshaping Business
A case study on creative, solo-preneurs and their businesses
In the age of the creator economy, the quintessential solo-preneur has emerged as a driving force in the business landscape. Today, there are incredible online businesses started by individuals that not only create significant value in the world but also pay handsomely. What's even more impressive is that some of these ventures essentially run themselves, providing financial freedom and the ability to pursue passions. As this shift towards solo entrepreneurship continues, let's explore inspiring case studies and statistics that showcase the remarkable potential of creative small businesses owned and operated by solo-preneurs.
The Expanding Solo Entrepreneurship Landscape:
The trend of solo entrepreneurship is on the rise, transforming various industries and sectors. Among the types of solo-preneurs, we have freelancers, gig workers, creators (e.g., TikTok and YouTube stars, bloggers), micro-SaaS/app developers, solo-capitalists, and many others. These individuals are charting their paths, turning their passions and skills into thriving businesses without the need for traditional corporate structures or venture investment.
The impact of solo entrepreneurs on the U.S. economy is noteworthy. According to the Small Business Administration, 80% of the 24 million small businesses in the United States are run by solo-preneurs. In 2020, the number of self-employed individuals in the U.S. increased by 9.6% to reach 15.3 million, as reported by the U.S. Bureau of Labor Statistics. The growing trend of solo-preneurship contributed over $1.3 trillion to the U.S. economy, as highlighted by Fundz. These figures show that serving this market has enormous potential, presenting vast opportunities for aspiring entrepreneurs and businesses. It turns out that these solo-preneurs are optimistic about the future of their work and the opportunity it presents. In other words, most who work this way do because they want to, not because they have to.
Inspiration from a Remarkable Solo-preneur: Milled.com
One standout example of a remarkably creative, solo venture is Milled.com—a search engine for email newsletters, offering a simple and user-friendly solution for email marketing discovery and inspiration. Over time, Milled.com's has grown substantially and, according to the My First Million podcast, does 7 figures in revenue annually…and this business basically runs itself (meaning, the founder gets to go on vacation when they want to)!
The creator economy has empowered exceptional solo entrepreneurs reshaping the business landscape. Inspired by trailblazers like Sarah Blakely, these humble beginnings often lead to the most successful ventures. At Hawk Hill Ventures, we see tremendous potential in solo-preneurs, some becoming the next industry giants. Embracing their diversity and adaptability, we eagerly follow along on their inspiring journeys, excited for the limitless possibilities they will bring.