solopreneur ideas

This article provides ten solopreneur ideas that are (1) profitable and (2) perfectly-suited for a one-person operation.

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We’ve scoured multiple credible sources to compile this list. You can rest assured that each idea is viable, lucrative, and ripe for the taking in 2023.

You’ll learn the basics about each unique solopreneur idea. This includes clear insights on how to get started, scale, and succeed with each venture.

Before the actual list, you’ll find statistics on solopreneurship, an overview of different avenues in solopreneurship, as well as a brief guide on how to choose the right solopreneur idea.

10 Great Solopreneur Ideas | At a Glance

Solopreneur IdeaKey ActivitiesPlatformsMonetization
Content CreationBlogging, VloggingMedium, YouTubeAd revenue, Sponsorships
Affiliate MarketingProduct Reviews, Niche WebsitesClickBank, Amazon AssociatesCommissions
Social Media ManagementContent Scheduling, Community EngagementHootsuite, BufferMonthly Retainers
Virtual AssistanceAdministrative Tasks, Specialized ServicesBelay, Time EtcHourly Rates
E-commerce ResellingThrift Flipping, Handmade GoodseBay, EtsySales Profits
SEO ConsultingKeyword Research, Site AuditMoz, SEMrushProject-based Fees
Personal Branding ServicesSocial Media Optimization, Personal WebsiteCanvaPackage Deals
Online TutoringSubject Expertise, Test PreparationTutor.com, Chegg TutorsHourly Rates
Fitness CoachingWorkout Plans, Nutrition GuidanceTrainerizeSubscription Plans
Event PlanningVenue Selection, LogisticsEventbriteCommission or Flat Fees

Quick Introduction

In our current digital era, the concept of solopreneurship is more relevant than ever. Unlike traditional entrepreneurs who may rely on a team and external funding, a solopreneur is a one-person show, handling every aspect of the business single-handedly. This approach offers unparalleled freedom but also comes with its own set of challenges.

One of the most critical steps in embarking on your solopreneur journey is choosing the right business idea. The significance of this cannot be overstated. A well-chosen idea can be the difference between a fulfilling, profitable venture and a draining, unprofitable one. Your choice will impact not only your income but also your lifestyle, work-life balance, and long-term satisfaction.

The Rise of Solopreneurship

rise of solopreneurship

In recent years, the landscape of the business world has witnessed a seismic shift towards solopreneurship. This trend is not just a fleeting fad; it’s a substantial movement that’s reshaping how we think about work, income, and success. The allure of being your own boss, setting your own hours, and pursuing your passion has made solopreneurship an increasingly popular choice among professionals of all ages.

Solopreneurship is Thriving

Fresh Faces in the Arena

A notable 41.6% of solopreneurs have been running their businesses for less than one year, showcasing the allure of solopreneurship among new entrepreneurs, likely spurred by the burgeoning gig economy and the ease of kick-starting a business online. ​1

Self-Employed Workforce Expansion

The self-employed workforce in the U.S. stands at around 10 million in 2023, elucidating the escalating trend of solopreneurship. The intertwined rise of artificial intelligence (AI) is also playing a pivotal role, reshaping the operational landscape for solopreneurs. ​2

Record Entrepreneurial Activity

Entrepreneurship activity in the U.S. soared to all-time highs in 2022, with an 18% surge for women and a 20% increase for men, reflecting a broader acceptance and pursuit of entrepreneurial endeavors, including solopreneurship. ​3

Global Footprints

The modern solopreneur has the leverage to reach a global audience, thanks to digital platforms and tools. This global outreach is not only expanding the market base but also diversifying the opportunities available to solopreneurs. ​4

Entrepreneurial Registrations

The registration of nearly 5.0 million new businesses in 2022, marking a 42% increase from pre-pandemic levels, underscores a significant rebound and possibly a shift towards solopreneurship amid changing economic conditions. ​5

The Data is Clear

The blend of technological advancements, changing work paradigms, and economic dynamics is crafting a fertile ground for solopreneurship to flourish. The data points towards a substantial movement of individuals towards building their own enterprises, embodying the essence of self-reliance and innovation that solopreneurship champions.

These statistics are a testament to the growing acceptance and viability of solopreneurship as a career choice. People are increasingly valuing the incredible perks of being a solopreneur:

  • Autonomy: The freedom to make your own decisions without external interference.
  • Flexibility: The ability to adapt your work schedule to fit your lifestyle.
  • High Income Potential: The sky’s the limit when you’re not sharing profits with a team or organization.

Types of Solopreneur Businesses

types of solopreneur businesses

When it comes to solopreneurship, the types of businesses one can venture into are incredibly diverse. The key is to find a niche that aligns with your skills, interests, and market demand. Below, we delve into four primary types of solopreneur businesses that have proven to be lucrative and scalable.

Digital Products

In the digital age, creating and selling digital products like E-books and Online Courses has become increasingly popular. Platforms like Udemy and Amazon Kindle Direct Publishing make it easier than ever to distribute your knowledge and expertise to a global audience.

  • E-books: Ideal for authors or experts in a specific field.
  • Online Courses: Great for educators and professionals with specialized skills.

Service-Based

Consulting and Freelance Writing are classic examples of service-based solopreneur businesses. Websites like Upwork and Toptal provide platforms where you can offer your services to clients worldwide.

  • Consulting: Offer expert advice in a specialized field.
  • Freelance Writing: Create content for various industries and niches.

E-commerce

The rise of platforms like Shopify and WooCommerce has democratized E-commerce, making it accessible for solopreneurs.

  • Dropshipping: Sell products directly from suppliers to consumers.
  • Print on Demand: Offer custom-designed products.

Subscription Models

In a world where content is king, Subscription Models like Newsletters and Premium Content can be highly profitable. Platforms like Substack and Patreon facilitate this business model.

  • Newsletters: Curate and distribute specialized content.
  • Premium Content: Offer exclusive content to paying subscribers.
Business TypeExamplesPlatformsIdeal For
Digital ProductsE-books, Online CoursesUdemy, Amazon KDPAuthors, Educators
Service-BasedConsulting, Freelance WritingUpwork, ToptalExperts, Writers
E-commerceDropshipping, Print on DemandShopify, WooCommerceRetailers
Subscription ModelsNewsletters, Premium ContentSubstack, PatreonContent Creators

How to Choose the Right Solopreneur Idea

choose the right solopreneur idea

Choosing the right business idea is the cornerstone of successful solopreneurship. It’s not just about what’s trending or what seems lucrative at face value. A more calculated approach involves Market ResearchSkill Assessment, and evaluating Financial Viability. Let’s break down these crucial steps.

Market Research

Before diving headfirst into a business venture, it’s imperative to understand the market landscape. Utilize tools like Google Trends and Semrush to analyze demand, competition, and potential gaps in the market.

  • Demand: Is there a substantial need for the product or service?
  • Competition: Who are your competitors, and what are they offering?

Skill Assessment

Your skills and expertise are your most valuable assets. Take a comprehensive inventory of your skills and see how they align with your business idea.

  • Alignment: Does the business idea align with your skills?
    • ProProfs Assessment Software offers a simplified way to create online quizzes, featuring automated grading, making it a robust tool for solopreneurs to gauge their knowledge base.​
    • Bryq provides scientific testing along with predefined and custom job profiles, aiding in a precise understanding of one’s fit in various entrepreneurial roles​.​
  • Skill Gaps: Are there skills you need to acquire or improve?
    • Continuous learning is integral for solopreneurs. Platforms like Kajabi offer resources for both learning and business growth, embodying the essence of skill enhancement and entrepreneurial development​.​

Financial Viability

Last but not least, assess the financial aspects of your business idea. Tools like QuickBooks can help you create financial projections and budgets.

  • Startup Costs: What are the initial expenses?
  • Revenue Streams: How will the business generate income?
Key ConsiderationTools/ResourcesQuestions to Ask
Market ResearchGoogle Trends, SEMrushIs there demand? Who are the competitors?
Skill AssessmentLinkedIn Skill AssessmentsDoes it align with my skills? Are there skill gaps?
Financial ViabilityQuickBooksWhat are the startup costs? How will it generate income?

By meticulously evaluating these three aspects, you can significantly increase the likelihood of choosing a solopreneur idea that is not just profitable but also fulfilling and sustainable.

Top 10 Solopreneur Ideas

10 profitable solopreneur ideas

In the realm of solopreneurship, the possibilities are endless. However, some ideas stand out for their profitability, scalability, and alignment with current market trends. Let’s delve into the first five of the top 10 solopreneur ideas that you can start today.

Content Creation

In the age of information, Content Creation is a goldmine. Whether it’s blogging, vlogging, or podcasting, quality content is always in demand. Platforms like Medium for writers and YouTube for video creators offer monetization options.

  • Blogging: Write articles or blogs in a niche you’re passionate about.
  • Vlogging: Create video content that educates or entertains.

Affiliate Marketing

Affiliate Marketing is a low-investment business model where you earn commissions by promoting other companies’ products. Websites like ClickBank and Amazon Associates provide a plethora of products to promote.

  • Product Reviews: Write or record reviews of products and include affiliate links.
  • Niche Websites: Create a website focused on a specific niche and promote related products.

Social Media Management

With businesses increasingly moving online, Social Media Management has become a vital skill. Platforms like Hootsuite and Buffer can help you manage multiple accounts efficiently.

  • Content Scheduling: Plan and schedule posts for businesses.
  • Community Engagement: Respond to comments and messages to build a brand’s online community.

Virtual Assistance

Virtual Assistance involves providing administrative services to businesses. Tasks can range from email management to scheduling and data entry. Websites like Belay and Time Etc connect virtual assistants with clients.

  • Administrative Tasks: Manage emails, schedules, and appointments.
  • Specialized Services: Offer services like bookkeeping or social media management.

E-commerce Reselling

The E-commerce Reselling model allows you to buy products at a lower price and sell them at a markup. Platforms like eBay and Etsy are popular choices for resellers.

  • Thrift Flipping: Buy thrift store items and sell them online.
  • Handmade Goods: Create and sell your own handmade products.

SEO Consulting

In today’s digital landscape, SEO Consulting is indispensable for businesses looking to improve their online visibility. Platforms like Moz and Semrush offer tools for SEO analysis.

  • Keyword Research: Help businesses identify profitable keywords.
  • Site Audit: Provide actionable insights to improve website SEO.

Personal Branding Services

Personal Branding Services focus on helping individuals build and maintain a strong online presence. This can include everything from social media optimization to personal website development. Resources like Canva can be used for creating branding materials.

  • Social Media Optimization: Enhance profiles for better visibility.
  • Personal Website: Create and manage a personal website to showcase skills and achievements.

Online Tutoring

With the increasing demand for online education, Online Tutoring has become a lucrative option. Platforms like Tutor.com and Chegg Tutors connect tutors with students.

  • Subject Expertise: Offer tutoring in subjects you are proficient in.
  • Test Preparation: Help students prepare for standardized tests.

Fitness Coaching

The health and wellness sector is booming, making Fitness Coaching a viable solopreneur idea. Platforms like Trainerize allow you to offer personalized workout plans.

  • Workout Plans: Create customized workout plans for clients.
  • Nutrition Guidance: Offer diet plans and nutritional advice.

Event Planning

Event Planning involves organizing and coordinating various types of events, from corporate gatherings to weddings. Websites like Eventbrite can be used for event management and ticketing.

  • Venue Selection: Help clients choose the perfect venue for their event.
  • Logistics: Manage all logistical aspects, including catering and entertainment.

This concludes our list of top 10 solopreneur ideas. Each of these options offers a unique blend of challenges and rewards, and the best fit for you will depend on your skills, interests, and market demand.

Case Studies of Successful Solopreneurs

stories of solopreneurs

Success stories are not just motivational; they offer a blueprint for aspiring solopreneurs. Let’s delve into three real-life examples of individuals who have carved a niche for themselves in the solopreneurial world.

Tim Ferriss: The Master of Lifestyle Design

Tim Ferriss is a name synonymous with lifestyle design, thanks to his groundbreaking book, The 4-Hour Workweek. But how did he get there?

Journey

  • Initial Phase: Tim Ferriss started his career in sales and later founded a nutritional supplements company. However, he found himself overworked and dissatisfied.
  • Turning Point: The idea for The 4-Hour Workweek came from his own need to escape the 9-5 grind. He took a sabbatical, automated his business, and wrote the book that would quickly become a bestseller.
  • Expansion: After the success of his book, Ferriss expanded into podcasting with The Tim Ferriss Show, where he interviews top performers from various industries. He also ventured into angel investing, backing companies like Uber and Twitter.

Business Model

  • Book Sales: The 4-Hour Workweek became a bestseller and opened doors for additional books like The 4-Hour Body and The 4-Hour Chef.
  • Podcasting: The Tim Ferriss Show is one of the most popular podcasts, generating revenue through sponsorships and ads.
  • Angel Investing: Ferriss has invested in several successful startups, diversifying his income streams.

Tim Ferriss’s journey is a testament to the power of lifestyle design and diversification. He didn’t just stick to one thing; he expanded his horizons, always looking for the next opportunity to add value and generate income.

Marie Forleo: The Multi-Passionate Entrepreneur

Marie Forleo is a name that resonates with empowerment and entrepreneurial success. She is a business coach who has built a multi-million dollar empire focusing on empowering women entrepreneurs. But how did she reach this pinnacle?

Journey

  • Initial Phase: Marie Forleo started her career in various roles, including being a makeup artist. She was always searching for her true calling.
  • Turning Point: Marie identified her passion and niche in coaching and self-improvement. She launched her online courses, primarily B-School, to help people realize their entrepreneurial dreams.
  • Expansion: Over the years, she has grown her online media empire, focusing on self-improvement and lifestyle design. She has also authored books and engages in philanthropy.

Business Model

  • Online Courses: Marie’s flagship offering, B-School, has been a massive hit. It’s an online course aimed at teaching business strategies and personal growth.
  • Coaching: Apart from courses, she offers one-on-one coaching sessions.
  • Books and Media: Marie has authored books and runs a successful YouTube channel, further diversifying her income streams.

Marie Forleo’s journey is an inspiring tale of identifying one’s passion and turning it into a profitable business. She has successfully blended coaching, online courses, and media to create a holistic business model that empowers others to succeed.

Dan Koe: The Digital Products Maestro

Dan Koe is a solopreneur who has successfully built a one-person business around digital products and courses. He’s a prime example of how to create a unique brand, authentic voice, and products that sell. But what’s the story behind his success?

Journey

  • Initial Phase: Dan Koe’s first foray into business was buying a 6-figure agency course six years ago. Before that, he didn’t see the value in courses and tried doing everything himself, as mentioned in one of his letters.
  • Turning Point: Realizing the value of specialized knowledge, Dan started focusing on digital economics and created various courses. His courses like “2 Hour Writer” and “Solopreneur Sprints” gained traction quickly.
  • Expansion: Dan has a membership program called Modern Mastery HQ, which offers a plethora of resources and has a ton of active members. The program costs $29/mo and is a significant part of his business model, as detailed in Growth In Reverse.

Business Model

  • Digital Products: Dan offers a range of digital products, including courses like “2 Hour Writer” and “Digital Economics.”
  • Membership Program: His membership program, Modern Mastery HQ, provides additional resources and community support for a monthly fee.
  • Courses: Dan has multiple pricing tiers for his courses, making them accessible to a broader audience.

Dan Koe’s journey is a masterclass in leveraging specialized knowledge to create digital products that not only sell but also add value to the consumer.

This wraps up our in-depth look at successful solopreneurs. Each case study offers valuable insights into different paths to solopreneurial success.

Recent FAQs

What is a solopreneur?

solopreneur is an individual who runs a business entirely on their own, without any employees. Unlike freelancers, solopreneurs aim to build a sustainable business model that doesn’t trade time for money. They handle all aspects of the business, from product creation to marketing and sales.

How do solopreneurs make money?

Solopreneurs generate income through various channels, depending on their business model. This can include selling digital products, offering consulting services, or even running an e-commerce store. The key is diversification and creating multiple income streams to ensure financial stability.

Is solopreneurship sustainable?

Yes, solopreneurship can be sustainable if approached correctly. It requires a well-thought-out business model, effective time management, and the use of automation tools to handle repetitive tasks. With the right strategy and execution, a solopreneur can build a long-lasting and profitable business.

Conclusion

In summary, solopreneurship is a viable career path that offers unparalleled freedom and financial potential. Whether you’re interested in selling digital products, offering specialized services, or even running an e-commerce store, the possibilities are endless. We’ve explored the rise of solopreneurship, types of businesses, and even delved into real-life case studies to provide you with a solid guide.

If you’re an aspiring solopreneur, now is the time to act. Leverage the insights from this article, and take the first step towards building your own empire.

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