🚀 Issue #1 - Solopreneurs

3 MINUTES ROUND-UP > Executive Summary

The freelance economy in the United States is growing: recent estimates expect the freelance industry to make up 50.9% of the total workforce by 2027.Becoming a solo business owner is becoming a popular option thanks to outsourcing, remote work, and automation.

This is happening while employees resist returning to the office, the four-day work week hasn’t caught on, google searches for how to quit a job are higher than ever and employee engagement is down. Quiet quitting is growing in popularity and shows how younger workers are pushing back on the expectation that they should go above and beyond.

As a result, it’s not a surprise that almost 40% of employees have a side gig. Many solopreneurs take a business idea they’re passionate about and simply work on it in their spare time, they are "mompreneurs", “studentpreneurs”, side hustlers, and gig workers.

Business can be started as a side hustle initially. How? Monetizing the skills you already have or that can be developed in a short period of time, or that can be improved and why not serve the 9-5 job.

Some of the passions that started as side hustles are now worth millions of dollars or are very profitable passive income.

A 21-year-old making sugar-free gummy bears out of her kitchen, last year sold her company, SmartSweets, for $400 million to a private equity firm. She is part of a growing wave of solopreneurs (see below) who pull in more than one million dollars in revenue a year. And yet, Jeff Bezos had proved that as a solo founder you can fly solo and create one of the world’s largest companies.

However, starting a business comes with its challenges. A mompreneur who wants to build a successful business will need to embrace a few mindset changes to achieve the goal. Solopreneurs try to do everything themselves, leaving no time for key things, like researching and staying competitive in the market and that's why we created Trendscape.co

The reality is that entrepreneurship can be the shortest path to combining passions and professional life and as we will explain below that journey comes with lots of benefits, that are not money-driven, but due to people prioritizing lifestyle more than previously.

The data show market strength, freelancer satisfaction, a growing support ecosystem, and increased business conviction. McKinsey estimates that 500 million freelancers working through platforms before 2030.

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