Ask IH: What are some one-person million dollar businesses?

I read the book last month.

Here's my notes:

Rating 3/5

Anecdote after anecdote. It’s fine in that it tells a bunch of different stories, and has a few different paths, but I didn’t find it super actionable. The last few pages present a list of questions to ponder, but nothing super concrete to really help. Many of the businesses presented aren't really "one-person," but owned by one person with many contractors. I do think there’s wisdom in here, but it could probably be distilled to a 10-page pamphlet.

Solo businesses that hit the million-dollar range typically fall into six categories:

1 E-commerce

2 Manufacturing

3 Informational content creation

4 Professional services and creative businesses, such as marketing firms, public speaking businesses, and consultancies

5 Personal services firms, offering expertise, such as fitness coaching

6 Real estate

You will learn a system to do three things:

1 Identify the high-revenue, one-person business best suited to your interests, skills, and experience from the five main types.

2 Launch the business successfully, no matter how little startup money you have, using low-cost and easily accessible distribution channels.

3 Keep the business humming so you can enjoy your life outside of work and give back.

Typically, the success of these businesses is based heavily on connecting with customers who are passionate about what they sell and have the power to get other people excited about purchasing it, too.

Gallup research shows that only 38% of entrepreneurs rely solely on the income from a startup in its first year, and 54% say another job is their primary way to earn a living. It is only when businesses are two to five years old that most owners rely on them for their primary income. Even then, only 51% get their primary income from the business, and 44% still rely on another job.

Eliminate, Automate, Delegate, Procrastinate

Nadler: Here are the questions he asks himself:

• What can I eliminate?

• What can I outsource?

• What can I put on the back burner?

• What can I say “no” to?

Mike Perham of Sidekiq is the first that comes to mind: https://www.indiehackers.com/podcast/016-mike-perham-of-sidekiq.

I listened to a podcast that interviewed the owner of Park.io

Apparently he was doing north of a million dollars a month at one point.

Lots of 'super affiliates' will be doing those numbers.

There are many examples.

Sales in 1970s-80s

1. Joe Girard - The World's Greatest Automotive Salesman, Guinness Book Record Holder...

2. Ben Feldman - The World's Greatest Insurance Salesman

Using Internet in 2000s-2010s

1. Drudge Report founder - Matt Drudge

2. Buzz Feed founder - Jonah Peretti

3. One Million Dollar Page Founder - Alex Tew

Reach out to me for more examples. I have done Phd (Doctorate in this subject... :) )

are you reading this? :)

https://www.amazon.com/Million-Dollar-One-Person-Business-Great-Money/dp/039957896X

Can you link to the Reddit post?

I have seen some HackerNews threads on similar topics.

https://news.ycombinator.com/item?id=16482392

https://news.ycombinator.com/item?id=14437921

What's the book called?

The only ones I can think of off the top of my head are Pieter Level's (@levelsio) companies:

Nomad List: https://nomadlist.com/open

RemoteOK: https://remoteok.io/open

Hey Vez saw youre in San Diego. You should come to SD Ruby this evening, I'm giving a talk there!