Solo Businesses: A Rising Trend

Today, one of the rising trends, similar to digital nomadism, is solo businesses. In fact, this trend aligns with the philosophy of digital nomadism and shares a similar pursuit of freedom.

Where Did Solo Businesses Come From?

Many people specialize in a particular field and turn to this business model. For instance, a computer engineer might gain experience in the industry developing mobile and web applications, become an expert in these areas, and then establish their own business, creating a solo business model.

What Is the Philosophy Behind It?

Solo businesses offer three fundamental advantages:

Freedom and Control

Founders can make decisions in the direction they desire and choose the areas they want to focus on.

Speed

Decision-making processes are quick since there is only one decision-maker. This allows the business to act agilely.

Simplicity

With a single founder at the helm, the focus and product development processes remain simple. Instead of adding numerous features, they aim to deliver a strong product in a specific niche.

Advantages of Solo Businesses

The unique difference of these businesses lies in their deviation from traditional capitalist approaches. Their goal is often not continuous growth. Instead, they aim to establish a sustainable structure that grows systematically or does not rely on human labor. Many even focus on optimizing their existing operations rather than pursuing growth.

Unlike startups, which typically require funding at the beginning and come with responsibilities to investors, solo businesses usually start on a small scale and do not require funding. This allows the founder to focus solely on their own goals and aspirations without external obligations. Without the need to answer to investors, they operate in a more authentic and independent manner.

The Future of Solo Businesses

With the widespread adoption of online platforms, solo businesses are becoming increasingly popular. It is estimated that approximately 75% of newly established companies today are solo businesses. People have embraced this model and started implementing it. In the future, this trend is expected to grow even further.

The only rule of solo businesses is this: Pay attention to growth opportunities and question them carefully before pursuing them. That’s the rule! The rest is entirely up to you. – Company of One, Paul Jarvis