Solopreneur Challenges: 7 Challenges You Didn’t Know About + Solutions

We’re in a time where almost anyone, as long as they have a computer and internet, can make crazy money. 

Unsurprisingly, many millennials and Gen Zs are ditching the 9-5 jobs to become solopreneurs. 

And why not? 

Building something that you have 100% control over is pretty darn fantastic. 

However, there are some unique solopreneur challenges you should know about before deciding to become one.

What Do Solopreneurs Struggle With the Most?

Here are the top 7 unique challenges solopreneurs face.

1. Too Little Time for All Your Hats

As a solopreneur, you’ll wear many hats. You’ll be the manager, head of operations, head of marketing, and the CFO. Unfortunately, you will not have enough time in the day to accomplish and excel in these roles.

Solution: One workaround most solopreneurs find helpful is working with independent contractors. This will give you access to experts without cutting you off from being the captain of your company.  

2. Sustaining Motivation

When you’re the sole person in charge, the burden of success rests squarely on your shoulders. Keeping your drive alive even with the daily challenges is a task that requires resilience and determination. 

Solution: Find your community. It’s much easier to stay motivated when you have a team of other solopreneurs to share and get ideas from. Alternatively, you can invest in a coach who’ll remind you of the why and keep you focused on the right goals. But most importantly, celebrate all your small wins and take a break when needed.

3. Maintaining a Work-Life Balance

When you’re the heart of your company, you have to work 3X harder. You’ll often spend more time working than resting, especially in the early days of your business. 

Solution: First, accept that flying solo means things will take longer than if you had a fully functioning team and departments. Next, get a sidekick(VA) to unload off some of the non-core activities. 

4. Isolation and Loneliness

Being an entrepreneur also means countless hours spent alone trying to make something of your business. After all, “it’s lonely at the top. “

Solution: Know that you are not alone. One survey from LeapMesh found that “13.13% of solopreneurs reported feeling lonely and isolated.” Next, find an accountability partner to share your struggles and wins. It could be a friend, your partner, or a mentor. 

5. Establishing Financial Stability

Initially, you might not gain the financial stability you need or want. This may mean doing all or most tasks because you can’t afford to outsource, scaling slowly, and paying with your time.

Solution: Don’t be afraid to start small and grow organically. However, be sure to have a concrete business plan. If you can, seek and bring investors on board for the first months when your business is vulnerable. 

6. Feeling Like an Imposter

It’s common to feel like an imposter when you’re a solopreneur. You might often feel like people will see you as a fraud who does not know anything— even when you have years of experience to prove your expertise. It’s common, but it shouldn’t feel like that every day. 

Solution: Understand that you are not perfect and that there are people out there who would appreciate your skills as expertise. 

“Remember, there are people out there who need your help, and they don’t need you to be perfect. You are enough.”– Taughnee Stone

7. Letting go of What Doesn’t Work

Understandably, your business is your baby, and you would rather not let anything fail. However, being your own boss also means letting go of products, strategies, and platforms that don’t work for you. 

For instance, Justin Welsh, a solopreneur, once had a paid community. It was a huge success. However, running a community also means (mostly) being available 24/7. For Justin, this contradicted the very reason he became a solopreneur, so he ended up closing the community. For you, it may look like dropping a product that doesn’t work or a client that you just can’t agree with.

That said, letting go isn’t easy, so here’s how to do it.

Solution: Remember your vision. Why did you branch into solopreneurship in the first place? Is whatever you’re struggling to keep up meeting this vision? If not, accept that you’ll need to make some changes. And yes, it will be hard, but it will be good for your business in the long term. 

Final Thoughts on Solopreneur Challenges

These solopreneur challenges don’t have to stop you from being your own boss. All you need to remember is that with trial and error, you’ll find what works for you— even if it takes time.