A CEO of a back office provider for freelancers says artificial intelligence tools will spur the rise of the first solopreneur billionaire. We look at which AI tools could help make that happen
Solopreneurship, the career trend where freelancers create solid businesses without the help of employees, is booming. In the US alone, 39% of the workforce there is participating in freelance work and artificial intelligence tools are expected to only boost the numbers, according to a Freelancer.com report.
AI skills were among the fastest growing on Freelancer.com in Q2 2023 (up 20.6% in Q1 2023 from 1,038 to 1,252). Jobs requiring Generative AI skills using platforms like ChatGPT, Dall-E, Midjourney and Chatbots increased by more than 325% from 286 in Q4 2022 to 1,216 in Q1 2023.
How can solopreneurs use AI to grow their businesses?
“AI models are providing freelancers such as designers, programmers and editors with capabilities that can realistically propel a solo business from zero to $1 million in months,” says Hooman Radfar, CEO and co-founder of Collective, a back office provider for freelancers.
“And it’s just the beginning – role-specific copilots are emerging that will allow freelancers in more industries to scale rapidly. We are preparing our platform to support the first billion-dollar businesses-of-one,” says Radfar.
Here are some of the different types of AI tools that can help freelancers become millionaires:
- Content creation tools: AI content creation tools can help freelancers write blog posts, articles, and other content more quickly and easily. These tools can also help freelancers generate ideas, research topics, and optimise their content for search engines.
- Project management tools: AI project management tools can help freelancers track their progress, manage their time, and collaborate with clients. These tools can also help freelancers identify potential risks and opportunities, and make better decisions about their projects.
- Customer relationship management (CRM) tools: AI CRM tools can help freelancers keep track of their clients, manage their leads, and close more deals. These tools can also help freelancers understand their clients’ needs and preferences, and provide better customer service.
- Marketing automation tools: AI marketing automation tools can help freelancers automate their marketing campaigns, track their results, and improve their conversion rates. These tools can also help freelancers target their marketing campaigns more effectively, and reach a wider audience.
By using these tools, freelancers could free up their time to focus on the more creative and strategic aspects of their work. They can also reach a wider audience, close more deals, and improve their bottom line.
Of course, there is no guarantee that using AI tools will make you a millionaire. However, if you are willing to put in the work, these tools can give you a significant advantage over your competition.
Here are some additional tips for freelancers who want to use AI to become millionaires:
- Start small: Don’t try to do too much too soon. Start by using AI tools for a few specific tasks, and then gradually add more tools as you become more comfortable with them.
- Be patient: It takes time to learn how to use AI tools effectively. Don’t expect to become a millionaire overnight.
- Be creative: Don’t be afraid to experiment with different AI tools and see what works best for you. There is no one-size-fits-all solution.
- Create a service that you are passionate about: Success will be two-fold if you feel you are doing something that will benefit you and others. The natural interest will also bring a better balance to your working life. Once you get to grips with the processes you need for your business to grow, you can call on AI tools to make those processes less time-consuming.
Golden age of solopreneurship
“A new class of business is emerging, drawing top talent from every industry who are realising they can not only be profitable and work on their own terms but also remain incredibly ambitious, given the new capabilities at their disposal thanks to AI,” says Radfar. “It represents a fundamental shift in power because a single person can create more sitting at a desk than at any other time in human history. We are entering a Golden Age of solopreneurship.”