4 mistakes to avoid to build a better 1-person business
Understanding the types of business that are most suited to being a solo-founder can save years of frustration.
Unfortunately I spent a decade learning this the hard way. Every day I see people making the same mistakes, mainly because we naturally copy what big companies do.
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not so sure about that, not all are sheep
Do you think it would be better to have a partner?
For some people. I don't think there is a magic formula and you just need to do what works for you. I personally like working alone. Others may prefer working with somebody else. I always think about that like a rowing boat though i.e. if you do partner, they need to row at the same speed and rhythm as you, otherwise you can end up not getting very far. Get it right though, and you can go faster
Nice take on the "do things that don't scale" tenet from PG
Thanks!
This article just opened my mind, thank you so much 😊
I never thought in this way....and now I have much clear understanding.
In the article you mentioned About AI image generation news letter for social media manager.....I want to know about it more....please share some resources
Glad to hear it was helpful for you.
The AI image generation newsletter was just an example of going niche, rather than staying broad. For example, you'll see a lot of people starting media companies focused on AI as a general subject, which then makes it difficult to differentiate yourself from other doing the same thing. Whereas a much better approach would be to focus on specific part of AI and target a professional industry. I used the example of starting a newsletter that focuses on the generation of graphics using AI technologies, and making the focus of the newsletter social media managers (people who would need graphics created on a consistent basis). This covers several points from my article. The market is smaller and you're also targeting B2B professionals rather than consumers
Wonderful perspectives! Owning a small niche as a solo-founder is absolutely the way.
Thanks for the encouragement and glad you agree. Small business is the way 💪
Not charging low prices is definitely the biggest thing I learned my first time around in a solo business. Not doing that again!
6 - Don't start a one-person business :))
Based on my experience with my first three solo projects, I've come to realize that the next three were more successful when I didn't do them alone. However, on the other hand, I was able to build a team after the initial ones ;)
It's not for everyone. As for me, I work far better on my own than as part of a team, so we (in the words of Liam Neeson) need to find out what our unique set of skills are and adapt to that