Should You Go Solo? A Readiness Checklist

Going solo is less about having a perfect plan and more about having enough stability to learn fast without panicking.

This checklist is not a guarantee - just a set of questions that reduce avoidable risk.

1) Financial Readiness (Runway + Risk)

Do you have a meaningful cash buffer for personal expenses while revenue ramps?
Do you know your fixed monthly expenses (and what you can cut temporarily)?
Do you have a plan for health insurance and other critical coverage (where relevant)?
Do you understand your tax obligations for your location and business type?
If revenue is slow for longer than expected, do you have a fallback plan?

2) Market Signal (Proof > Opinions)

Weak signals:

people saying “cool idea”
friends being supportive
a competitor list

Stronger signals:

people paying you already (services, pilots, consulting)
consistent inbound questions about the problem
a small list of specific people you can talk to this week
a clear path to reach more of them

Ask yourself: if you had to earn revenue in the next few months, what would you sell - and to whom?

3) Emotional and Operational Reality

Can you handle long stretches without external validation?
Are you comfortable making decisions without a manager or team consensus?
Can you sell (or learn to sell) without avoiding it?
Do you have a support system outside of work (friends, partner, peers)?

4) Practical Readiness (Execution)

Do you have a narrow first offer you can deliver reliably?
Do you have a simple workflow for delivery, communication, and invoicing?
Do you have a weekly routine for lead generation (even small)?
Are you willing to ship imperfectly and iterate based on feedback?

A Simple Scorecard

Rate each section 1–5:

Financial readiness: ___ / 5
Market signal: ___ / 5
Emotional reality: ___ / 5
Practical execution: ___ / 5

If any category is a 1–2, consider staying employed while you close that gap (e.g., build a buffer, test an offer, or pre-sell a pilot).

Financial Readiness Checklist

Do you have 3-6 months of living expenses saved?

Why this matters: The first months of going solo are rarely profitable. You need runway.

Calculate your number:

Monthly living expenses (housing, food, insurance, etc.) = $X
Minimum runway = $X × 3 (conservative)
Comfortable runway = $X × 6 (recommended)

Example: If you spend $4,000/month, you need $12,000 (conservative) to $24,000 (recommended).

Reality check: If you currently make $150K/year but have zero savings, you're not ready yet. If you make $50K/year and have $20K saved, you might be.

Can you eliminate or reduce major expenses for the first year?

Lower your burn rate:

Move to lower cost-of-living area? (Can delay growth pressure)
Downsize housing? (6-12 month temporary move)
Eliminate discretionary spending? (Gym, subscriptions, dining out)
Negotiate recurring costs? (Insurance, internet, software)

Pro tip: For every $500/month you cut, you extend runway 2 months. That buys time for revenue to materialize.

Do you have a backup plan for health insurance?

Don't skip this. One medical emergency can wipe out savings.

Options:

Spouse's health insurance: Lowest cost if available
ACA marketplace: $200-500/month depending on income/location
Short-term policies: Cheap but limited; hold you over until you hit full-time status elsewhere
Professional association plans: Some industries (creatives, tech) have group plans

Action: Get quotes before you quit. Budget $300-400/month into expenses.

Do you have business expenses covered?

Typical first-year costs:

Domain name + hosting: $200-500/year
Tools (project management, design, analytics): $500-2,000/year
Business formation (LLC, sole proprietor): $100-1,000 (state-dependent)
Accounting/tax prep: $1,000-3,000/year
Internet/phone: $100-200/month
Marketing (if applicable): $1,000-5,000/year

Reality check: If going solo means immediately renting an office, you're not lean enough yet.

Market Signal Checklist

Do you have evidence someone would pay for this?

Not ideas. Evidence.

Weak signal ❌:

"I think this would be useful"
"My friends said it's a good idea"
"No one else is doing this exactly"

Strong signal ✅:

Someone already paid you (consulting, freelance gigs)
People signed up for a waitlist
You have 10+ people willing to be first customers
You've done consulting in this area and got paid

The bar: Before you go solo to build Product X, you need proof someone will buy Product X. That proof is usually "I already got paid for this problem."

Do you have a realistic first-customer timeline?

Be honest:

Best case: Revenue in 1-3 months (building on existing credibility or customer base)
Realistic case: Revenue in 3-6 months (takes time to finish, market, close)
Worst case: Revenue in 6-12 months (you're building something new from scratch)

Question: If you don't make money for 6 months, are you still okay? If the answer is "no," you're not ready.

Are there people in your network who might be first customers?

Count them:

How many people would you feel comfortable asking to buy?
How many have already expressed interest?
How many have budget to buy in the next 3 months?

Red flag: If you're counting on "people who don't know you yet," you need 6+ months of runway, not 3.

Emotional Readiness Checklist

Can you handle extended periods of uncertainty?

Going solo means:

Weeks with no revenue
Rejection from customers
Days with no forward progress
Self-doubt every Sunday evening
No one to tell you you're doing well

Be honest:

Do you get energy from building, or do you need external validation?
Can you work without a boss checking in?
Do you spiral when things aren't working, or do you get curious?

Reality check: If you've never worked on anything without immediate feedback, try a side project first.

Do you have support outside of work?

Going solo is isolating. You need:

A partner/spouse, or close friends
Some form of community (online or offline)
A therapist (seriously, budget for it)
Regular human contact that isn't "customer calls"

Why this matters: Loneliness is the #1 reason solopreneurs quit in year one. Money is the #2 reason.

Are you running toward something or away from something?

Toward (healthy): "I want to build X and own the outcome"

Away (risky): "I can't stand my boss/job anymore and need to escape"

The risk: If you're running from a bad situation, you might not have the emotional clarity to build something new. You'll burn through savings faster because you're desperate, not strategic.

The test: If your current job got amazing tomorrow (new boss, raise, flexibility), would you still want to go solo? If no, you're not ready yet.

Practical Readiness Checklist

Do you have the skills to do the work yourself?

Inventory:

Can you build/design/write the product? (Or learn in 4-8 weeks?)
Can you handle basic marketing? (Writing, outreach, social)
Can you manage accounting/admin? (Spreadsheets, receipts, invoices?)

Red flag: If you need to hire immediately to do core work, you're not lean enough.

Do you have a repeatable way to find customers?

Avoid the trap: "I'll figure out sales later."

You need ONE working channel:

Direct outreach (LinkedIn DMs, cold email, warm introductions)
Content (blog, Twitter/X, newsletter driving traffic)
Community (forums, Slack groups, industry events)
Referrals (past clients, network introductions)

The bar: You should be able to land 3-5 conversations a month without paid ads.

Have you tested the product/offer with real people?

Avoid shipping to crickets.

Before you go solo:

Show prototype/draft to 5+ potential customers
Get feedback (not just "looks good!")
Close at least one pilot customer (at any price, even free)
Understand the sales cycle (how long does it take to close?)

Example: If you're going solo as a consultant, you should already have consulting experience and ideally a first client lined up.

The Go-Solo Decision Matrix

Use this to score yourself. Answer each question 0-3 points (0 = No, 1 = Somewhat, 2 = Mostly, 3 = Definitely).

Want an interactive version? Try our Solo Readiness Checklist tool for personalized feedback and segment-specific insights.

Category	Question	Score
Financial	Do I have 3-6 months of living expenses saved?	___
Financial	Can I cover business expenses from savings?	___
Financial	Do I have health insurance sorted?	___
Market	Do I have proof someone would pay?	___
Market	Do I have 3+ warm prospects/leads?	___
Market	Can I find customers without paid ads?	___
Emotional	Can I handle 6 months without external validation?	___
Emotional	Do I have solid support system outside work?	___
Emotional	Am I running toward something, not away?	___
Practical	Can I do core work myself or learn it fast?	___
Practical	Have I tested with real customers?	___
Practical	Do I have a realistic timeline for first revenue?	___

Scoring:

36-33 points: You're ready. Go solo.
32-25 points: You're close. Fix the weak spots, then go.
24-16 points: Wait 6 months. Build savings, find customers, gain clarity.
15-0 points: Not ready yet. Get a job, build side projects, test your idea.

Common Myths (Debunked)

Myth: "I need a perfect business plan" Reality: Your first plan will be wrong. Build, learn, adjust.

Myth: "I need to quit immediately" Reality: Start solo on nights/weekends. Quit once you have revenue or runway.

Myth: "I need the perfect idea" Reality: There's no perfect idea. You need market demand + your ability to deliver.

Myth: "I need to incorporate as an LLC first" Reality: Sole proprietor is fine to start. Incorporate when you have revenue.

Myth: "Everyone who goes solo fails their first year" Reality: Most solo founders fail because of insufficient runway or unclear market fit, not because solo is inherently impossible.

Action Steps for This Week

Calculate your number: How many months of runway do you have right now?
Score yourself: Use the decision matrix above. Which section is weakest?
Find one quick win: Pick one thing you can improve this month (save $500, get proof of demand, etc.)
Talk to someone: Find one person who's gone solo in your field. Ask them one question.
Set a timeline: "I'll be ready by [date]" or "I'm ready now, I'll launch by [date]"

Not ready? That's okay. Use the next 3-6 months to build runway, test demand, and prep emotionally. Rushing this decision costs far more than taking extra time.

Ready to go solo? Before you launch, try our Solo Readiness Checklist tool (interactive version with personalized recommendations based on your situation).

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