4 Software Tools Solopreneurs Need in 2023
Solopreneurs may be the pluckiest type of entrepreneur there is. They decide to bring their business idea to life on their own without the assistance of a team. Solopreneurs can start their companies as side hustles to develop additional...
Solopreneurs may be the pluckiest type of entrepreneur there is. They decide to bring their business idea to life on their own without the assistance of a team. Solopreneurs can start their companies as side hustles to develop additional career interests. Or they may go all in, hoping to reap the rewards of flexibility and autonomy.
While complete control can be a huge benefit of solopreneurship, it’s not a walk in the park. Since owners tackle everything alone, finding ways to streamline all the to-dos becomes paramount. Without essential software tools, tasks may pile up because they’re too challenging or time-consuming to complete alone. Below we’ll dive into four tools solopreneurs can use to make their jobs easier.
1. Legal Document Management Apps
Every business sells something. It could be intangible, such as bookkeeping services. Perhaps it’s something more physical, like a commissioned work of art. Or it’s a mixture where someone receives a finished product, but services like web development are a part of it.
In each case, a solopreneur has something to offer clients. But managing these relationships usually involves legal agreements, including contracts. Without them, it’s hard to hold either party accountable. Contracts spell out expectations for performance and payment, giving each side some protection and recourse.
The problem is that not many solopreneurs have a background in contract law. In addition, organizing all the paperwork associated with binding agreements can get messy. Most will find it easier to use a contract management platform to handle this side of the business. With the right app, the processes behind creating and signing contracts become more efficient. Owners can automate repetitive tasks, secure e-signatures, and gain cloud storage space.
2. Invoicing Software
Solopreneurship doesn’t eliminate the need for invoice management. Whether a business is a large enterprise or a one-person endeavor, it depends on the exchange of money. Funds flow out to vendors and other companies for supplies. More importantly, revenues come in from those purchasing what the business sells.
Money can exchange hands at the point of sale, but many solopreneurs offer services. With this type of business model, revenue usually comes in after the fact. A graphic designer may perform recurring work for six different clients. However, the designer won’t receive payment until each client approves the agreed-upon deliverables. This setup requires invoicing, which can become tedious for any business owner.
It’s even more cumbersome for solopreneurs, who must juggle projects and chase down payments at the same time. A report from the Independent Economy Council found getting paid is one of the top challenges for freelancers. An astonishing 74% of gig workers say they’re not receiving on-time payments. Unbelievably, 59% say they’re still waiting for $50,000 or more.
Yet 38% are still creating invoices from scratch using word processing tools, and such invoices must be tracked manually as well. Invoicing software saves solopreneurs from having to do this. They can reuse templates, track when invoices go out, and determine which payments are late. Invoicing apps streamline the process of following up with late or missed payments and signal the need for tough client conversations. Also, these software tools automatically make deposits into bank accounts and simplify income tax preparation.
3. Task Organizers
Making to-do lists takes time away from doing the work. Even so, it’s a necessary step in the planning process. Solopreneurs who devote their attention to every aspect of running a business will find it difficult to succeed without organization. Spreadsheets and word processing programs might seem like a convenient solution. But these software tools are often too simplistic to meet the needs of a busy owner handling it all.
Project management solutions are great for larger companies because they keep teams in collaboration mode. A business with one person may find project management apps too complex. After all, they’re the only ones tracking tasks, creating timelines, and delivering outcomes. Solutions that organize to-do lists are usually a better fit.
These apps let solopreneurs initiate tasks, categorize outstanding items, and establish priorities. They can see what’s on their plate each day before it begins. If a deadline needs reprioritizing, it’s not too difficult to rearrange. A business owner can immediately see how a shift in priorities will impact the rest of their scheduled responsibilities. Furthermore, task organizers will send reminders of critical deadlines so nothing gets missed.
4. Social Media Tools
Statistical research shows 33% of marketers spend between one and five hours weekly on social media. While this represents the majority, about 23% dedicate six to 10 hours weekly to social media marketing. This time may seem like a drop in the bucket for larger companies, but it can be more significant to solopreneurs.
Sole business operators aren’t relying on the talents of a social media manager to post for them. Marketing, including social media posts, is something they must plan as part of their day. Simultaneously, social media may become like a rabbit hole they can’t escape. A solopreneur’s productivity can take a nosedive if they get too caught up in posting content.
Fortunately, there are apps that can automate posts for owners who want to avoid distraction. Solopreneurs can still engage with their customer base while getting back a portion of their time. Social media software tools let them automatically schedule posts for each week. If business owners have a long-range content calendar, these platforms can execute it. Sudden changes aren’t a problem, as it’s possible to cancel or modify automated posts.
What Solopreneurs Need
Operating a business is daunting enough for owners who have teams to rely on. Those who do it by themselves are, without a doubt, a different breed. They’re not afraid to face challenges, knowing they can learn to handle whatever comes their way. But it doesn’t mean solopreneurs can’t gain advantages from adding specific software to their toolkits. Apps that make everyday processes less of a chore can also make running a solo venture less overwhelming.
Featured Image Credit: by Judit Peter; Pexels; Thanks!
Editor In Chief at ReadWrite
Brad is the editor overseeing contributed content at ReadWrite.com. He previously worked as an editor at PayPal and Crunchbase. You can reach him at brad at readwrite.com.