Post-pandemic, millions of professionals have left traditional jobs to work for themselves. But what does it really take to succeed? Sara Howard, author of Beyond Solo, shares the biggest myths about freelancing and the decisions that can make or break a solo business, as well as the real benefits of being your own boss.
Working women have had enough. Toxic work cultures, rigid expectations, and the enduring grip of the gender pay gap make the corporate grind less appealing. In 2023, record numbers of American women left their corporate jobs. In the tech sector, it’s even worse: 50% of women in tech roles leave by the age of 35.
At the same time, there’s been rapid growth in the number of women starting their own enterprise. The number of businesses owned by women has grown 77% since 1991 – almost double the rate of men. Freelancing and self-employment is an increasingly mainstream phenomenon. Over one million Australians work as independent contractors, and another 800,000 run sole trader businesses.
Freedom and flexibility are a driving force for flying solo, especially for women juggling the relentless pressures of family life and a full-on corporate workload.
Running your own show means you’re in control of when you work, where you work, and what you work on. You can work around Easter hat parades or volunteer on school trips. Or you can pack your passport, or jump in a campervan, and embrace the digital nomad life.
I started my first business more than 20 years ago, and have zero regrets. My work today, as a strategic comms consultant and writer, takes me into corporate boardrooms and multinational strategy sessions. I get to make a meaningful impact with smart people – without having to kowtow to office politics or twiddle my thumbs in pointless internal meetings.
But before I started building a team around me, I was also responsible for everything, everywhere, all at once. For bringing in the billable work, doing that work, and then billing it. For sales, marketing, financial management, tech support.
That sometimes felt a little overwhelming – and lonely. So if you’re thinking of taking the leap off the corporate treadmill, here’s three things to keep in mind.
1. Pay yourself properly
Alarmingly, the gender pay gap extends to self-employment. One in three female business owners do not pay themselves a salary.
Yes, it’s hard to justify when you’re just getting started. But if you don’t value your own knowledge, skills and experience, how can you expect a client to?
I spoke with dozens of female business founders while researching my book on the many paths to business growth, Beyond Solo. They all bootstrapped their businesses, without the need for external funding. And those who took control of their finances, who set income targets and stretch targets, who paid themselves super and annual leave, were also more likely to run businesses with a stable cash flow over time.
Consistent income reduces the financial stress of running your own show, which also reduces the likelihood of anxiety and burnout.
2. You can not say yes to everything
If you have started freelancing with freedom as your goal, set some boundaries. Otherwise, you will start feeling trapped in projects you don’t love with people you don’t like – and with less time than ever for the things that matter.
Block out your calendar and be unavailable: experiment with different work hours to make your business work for you. And learn to spot red flags – walk away from new clients who sound needy, demanding or vague, or who don’t respect or value your time or expertise.
3. It’s always about people, no matter what you do
From day one, I knew my business success depended on building positive, enduring relationships. People do business with people, not faceless business entities.
When you listen deeply, show you care, and solve their problems, they’ll become your most valuable business resource: an unpaid sales team of advocates and referrers. Think less sales hustle, more thoughtful conversations over coffee.
Grow your own way
If you do these three things well, you still might find yourself too busy to breathe – with more clients and workload than you can fit into a day. And if that means it’s time to grow beyond solo, there are many different paths you can take.
And it’s also OK to scale back or slow down. Our business may be small, but our potential is unlimited. And that’s why we wouldn’t work any other way.
Sara Howard is the founder of Writers Australia. Her first book, Beyond Solo – There’s more than one way to grow your business, is available now at www.beyondsolo.co, or from your favourite online or local bookstore.
