bSolo's Purpose: The Right Support for the Solo Phenomenon
Like all startups, bSolo was born out of an opportunity to solve big problems and make an impact at scale. We saw our opportunity in the independent workforce, a force that is 57 million strong and on track to make up half of the US working population by the middle of this century.
We’re specifically focused on soloists. Before there was ever a "gig economy", there were soloists. These are full-time independent workers: solopreneurs, freelancers, and people who are self-employed. Our own research shows that this is an incredibly deliberate, talented, and resilient group—unlike some of the myths that paint solo work as a hobby, a side gig, or a fallback career.
...[soloists are] incredibly deliberate, talented and resilient
During the exploratory phase of this project, we surveyed 1,000 independent workers nationwide. More than half of all respondents intend to continue solo work without hiring employees. Nearly half left a salaried job to launch their soloist career. And almost all are full-time independent workers who are independent by choice. They run their business of one and are in it for the long haul.
A good portion of this group are happier with solo work and do very well. The headlines about the rise of the six figure freelancers are not just hype. About 3.3M freelancers earn more than $100K, according to a new study from MBO Partners. We've also met many soloists who have achieved success on their own terms, in ways that have nothing to do with salaries, titles, and corner offices. They are motivated and resilient despite the odds—which, systemically speaking, are not in their favor.
About 3.3M freelancers earn more than $100K...
In traditional employment, a job comes with a workplace, benefits, administrative support, and a community of colleagues. Self-employed people can have that too, but only by spending long hours researching and acquiring these things, on top of the work they're already doing for clients. Choosing to work for yourself today also means complicating your finances, as my colleague Kim Langway describes. The extra work and complexity makes it harder for people to build and sustain the life they imagined when they decided to start a soloist career.
Why does this matter? To start, we can see them ushering a sea change in how businesses and individuals work together.
Decades ago, businesses began responding to changing marketplace needs by outsourcing specialized work to independent experts. In the 90s, management guru Charles Handy popularized the idea of the “shamrock organization.” In this model, a business was made up of essential full-time executives supported by temporary and part-time contractors. This was easier said than done. Companies couldn’t always find people with the perfect skills at the time that they were needed.
Thanks to job matching platforms and remote tools, it’s never been so easy for soloists and clients to make the right match and work together. Upwork’s Future Workforce Report states that fifty-nine percent of managers are currently working with “flexible talent”, such as freelancers.
We also believe that soloists are creating a more meaningful and sustainable way to work. So many people see working to get paid and working to find fulfillment as entirely separate goals. The soloist says, “Why not both?” The soloist wants to own their own time, earn what they’re worth, and choose work aligned with their talent and passion.
At bSolo, our mission is to “unleash the benefits of independent life, without compromise.” We want to clear a path for them, so they can do just that.
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