4 Silent Hurdles of the Solopreneur
The journey of a solopreneur is often idealized as a pathway to independence and innovation. My own venture began in 2016 while I was a stay-at-home mom. A simple Quora question sparked my interest: “How do you make 100 dollars in a day?” The top answer was a revelation – become a freelancer. This idea resonated deeply with me, and I embarked on my freelance journey.
In the first year, my rate soared from $10 to $60 per hour, and my monthly income doubled from $3k to $6k. This growth trajectory eventually led to my business blossoming into the multi six-figure enterprise it is today.
While being a business owner offers immense rewards, it’s not without its trials. Unaddressed, these challenges can topple even the most ardent entrepreneurs. I’ve identified four silent hurdles that every solopreneur should be mindful of:
1. The Burnout Blitz
In 2007, Arianna Huffinton, the founder of Huffington Post, collapsed at her desk from exhaustion due to the strains of managing her rapidly growing online media outlet while juggling her own writing career. This incident led her to significantly rethink her approach to work and life.
Burnout is a silent epidemic among entrepreneurs. Research presented by Ryan Cassin and superpowershq indicates that 72% of entrepreneurs are directly or indirectly affected by mental health issues compared to just 48% of non-entrepreneurs. Additionally, 30% of entrepreneurs experience depression, in comparison to 15% of the general population. The wear and tear of constant decision-making and responsibility can lead to severe mental and physical exhaustion.
2. Multitasking Mayhem
Multitasking is often mistaken for a valuable skill, but it’s a productivity killer. According to an article by What to Become, It can reduce productivity by as much as 40%. For solopreneurs, doing too much at once can be counterproductive, leading to mistakes and overlooked opportunities.
3. The 'Busy Work' Trap
Busy work can engulf your day without contributing to actual progress. Richard Carufel at Agility PR said Entrepreneurs spend just 31.9% of their time on strategic tasks that grow their business, with the majority of their time (68.1%) being consumed by day-to-day tasks. This indicates a massive potential for increased efficiency and focus on high-impact work.
4. Neglecting the Power of Delegation
Delegation is a critical skill for scaling a business, yet many solopreneurs struggle with it. The importance of delegation is highlighted by showing that leaders who delegate well can increase revenue for their organization and improve the odds of their business staying open longer. Michael Guta’s article for Small Business Trends confirms that this principle is essential for leveraging time, the most finite resource, to maximize business potential.
In my own business, embracing delegation was transformative. I shifted from a mindset of solitary hustle to strategic collaboration. Partnering with a virtual assistant enabled me to bypass these common hurdles, directly contributing to my business crossing the six-figure threshold.
Delegation isn’t just about offloading tasks; it’s a strategic decision that can infuse your business with new energy and direction. If you’re ready to take this step, remember, it’s not just about finding help — it’s about finding the right partner who can drive your business forward.
About the Author
Jazmine Cooper is a mom, Christian, and an extreme extrovert who loves humanity and has made it her personal goal to help everyone achieve their purpose in life.