Surviving solopreneurship — an interview with Justin Welsh ($135K/mo)
Making $135,000 per month is pretty impressive for any business… let alone a solopreneur. I caught up with Justin Welsh to see how the heck he does it.
My favorite part?
I don’t want to “scale up” or “go big”. I want to actually go smaller. Work less, make the same, and continue to design my life with intention. Managing people just isn’t part of that for me.
Indie hacker: Justin Welsh (@officialjustin)
Monthly revenue: ~$135,000/mo ($20K MRR, ~$115K one-time payments)
From panic attack to solopreneurship
In my previous life, I was an executive at a high-growth startup that I helped build from its first dollar to over $50M in ARR in 4.5 years.
Towards the end of that journey, I started burning out pretty heavily. In December of 2018 that all culminated in a massive panic attack — 911, EMTs, the whole shebang. It was at that moment I decided I wanted to live a much more intentional life focused on doing more of what I liked and less of what I didn’t.
The things that have kept me going since then are:
- Traction in my business
- Receiving thousands of DMs, emails, and notes from people I've helped
- Wanting desperately to hold onto this lifestyle
A breakdown of his MRR and income:
My MRR comes from a subscription email I send out once per month called The Monthly Templates. It's 5 fill-in-the-blank templates you can use to deliver your message on platforms like LinkedIn and Twitter. The rest of my income comes from course sales, coaching, newsletter sponsorships, affiliate deals, and more.
- Course Revenue: $110,000/month
- Sponsorship Revenue: $16,000/month
- Coaching Revenue: $7,000/month
- Affiliate Revenue: $2,000/month
The loose schedule that makes him over a $100K monthly
My schedule changes over time as I take on new projects and go on vacation, but my normal schedule looks a bit like this:
- 7:15a to 8:15a: Interact on LinkedIn/Twitter for 45 minutes
- 8:30a to 10:00a: Go to the gym with my wife
- 10:30a to 1:00p: Write and eat lunch
- 1p to 3:00p: Open for a client call
Outside of that, I work plenty, but it’s moving projects forward or extra writing when I feel creative. I probably work 40-50 hours when I factor in the extra work I do outside of the hours I previously specified. Some weeks are closer to 20, while others might be 60 or 70. It all depends on if I’m in the middle of a project, have a new client, working on a course, etc.
The ups and downs of solopreneurship (and how to survive it)
The best part is being able to spend my time doing what I want, when I want, and with whom I want. For example, I’m doing this interview on a Thursday and I’m about to head out to lunch with my wife for a few hours. I didn’t have that luxury when I worked for someone else.
I love having complete creative control over everything that I do in this business, and I was surprised by the flexibility to try new things. I thought there was a “game plan” or “best practices” but everyone is just out here winging it for the most part.
The worst part of being a solopreneur is that it can get quite lonely. I miss being around friends and peers in the office, so I’m considering trying to replicate that in some way. Having a good group of friends and a social calendar is extra critical when you work on your own. Luckily, I have a wonderfully supportive wife and family, plus hundreds of online (and in-person) friends, mentors, and partners.
On how to be a little less "solo"
I bounce ideas off of a great group of online friends from both Twitter and LinkedIn. We jump on a Zoom or meet out for a beer and just chat through the issues or challenges we’re facing.
On relieving the stress of going solo
I take a lot of action. I’ve found that stress is generally a response to things that have already happened, and anxiety is a response to things that might happen in the future. So, I try and remain in the present, and take a lot of action. New content, new products, new experiments, etc. I’m always trying to get a little better each day by actually doing something.
On going smaller, not bigger
I have considered adding people to my team, for sure. But I think it comes back to what’s most important to me. I don’t want to “scale up” or “go big”. I want to actually go smaller. Work less, make the same, and continue to design my life with intention. Managing people just isn’t part of that for me.
Great read and inspiration! When I started my solo founder journey I came across the book Company of one - why staying small is the next big thing for business, by Paul Jarvis. It resonates very well with this interview. I very much recommend it to anyone interested in going solo.
I Like your recommendation.
Thank you for the recommendation, I will have to add that to my next read for sure.
Thanks for the recommendations
Need to add that to my reading list.
One of my favorites!
Thanks for the share!
Good stuff. As a fellow Solpreneur, I can relate to the "golden handcuffs" effect, except mine or more likely Silver at this point.
This is a great read.
Thank you so much, Sean.
Been a follower on twitter for a long time great content as always
This is great inspiration, I appreciate showing the break down of the revenue. I don't want to manager people either, so this is actually make me think that SoloPreneurship might be the way to go for me.
Great Article. Solo Entrepreneurship is tough. You have to do multiple things and wear different hats.
Good read. I used to think things were 'easier' with business partners and employees. But a lot of times, they create drag instead of forward progress. I think the old adage goes:
"If you want to go fast, go alone. But if you want to go far, go as a team" or something like that.
But for a lot of industries, going fast is essential for survival and probably only up to a certain point does it even make sense to take the risk and add a person. And, if you're a solo entrepreneur that don't really want the additional stress of dealing with people, the intentional decision to make 'good enough' money and live intentionally with that is brilliant. And I think allows for a more stress-free life with fewer strings attached.
Just re-read Anything you want - by Derek Sivers and this reminded me a lot of his lessons/experiences.
And I find it inspiring as someone working in their own bricks-and-mortar business that's seeking a change, and excitement whilst maintaining financial security. Glad that people like you Justin, and Derek, levels.io, Paul Jarvis have put so much out there.
Any advice for someone who's mind is stretched enough to not ignore new possibilities but frustrated about which direction to go..... actually don't answer that, I'm going to review your recent twitter threads where you break it down.
Loved this article
To be even mentioned in the same sentence as Sivers and Levels made my day. Thank you.
This one hits me. --> I don’t want to “scale up” or “go big”. I want to actually go smaller. Work less, make the same, and continue to design my life with intention. Managing people just isn’t part of that for me. Nice @IndieJames and Justin Welsh
How can I have a loose schedule with rent to pay every month?
This is a great question. I guess that at the beginning, and if you're dependent on a 9-5 income to sustain your bills, this is an impossible task. You got to set up systems that follow Justin's strategy while working on the sidelines - not a loose schedule at all indeed.
But as you stop depending on the regular income, and the leverage of your system starts to pay off, your schedule looses.
Keep going ahead my friend!
Great interview.
Currently I am a solo entrepreneur but I live together with 2 friends who are also entrepreneurs. We work together from home and are having the time of our life. Maybe you should get a co-working place
This post resonated with me because of the last section - going smaller.
I'm far from hiring employees in my project. But every indie hacker far enough along seems to dread hiring. Intentionally choosing to forego this step out of respect for your priorities is a great perspective.
Thanks for the read!
I appreciate this story. The fact that people have to take a step back to understand what is really important in life and get their health in order is something that has come up with a lot of friends and family that I know. I am glad its worked out for you.
Hi Justin,
Your results are amazing. Thanks for sharing!
I want to ask a question about your courses: from your break-down, it's 100+k MRR from the courses. Can you elaborate the general steps on how you nailed down the target market and achieve such successful courses within a few years?
Also, I'm new so I wonder what's the url to your courses site?
Thanks again Justin for your sharings.
Aren't your digital products only $150? How do you sell 700+ a month?
I create about 15M - 20M impressions per month on social media, which in turn, leads to around 70,000 website visitors. Of those, about 25,000 hit my landing page and convert around 3% or so, with an ARPU of about $130.
If you can share that, are the impressions paid or organic? If paid, what portion of the revenue does it eat away?
I am a solo entrepreneur (managing people is not worth it :-D) and thinking of scaling it up. So far most of my sales have been organic but paid traffic is something I am considering.
Hey @OfficialJustin - thanks so much for the reply. It really shows me the power of traffic and how you can scale. Also, that data is amazing for showcasing results.
one of my best wish!
Loved it. Great going Justin.
Thank you!
I want to be exactly like Justin. Amazing guy.
Thank you. I promise I'm not amazing.
Could be the most important take here 😄 You don't have to be amazing to get there.
Congrats Justin and thanks again for the tons of valuable share 🙌
That’s an inspiring article, thanks for sharing!
Thanks for reading it, Huana.
Great read, Justin. What software are you using to collect video testimonials for your courses? You included a screenshot in one of your recent emails but I couldn't make out the brand.
Testimonial.to - it's amazing, Sam.
Thanks so much, Justin!
Wow, I can absolutely understand a panic attack like that really reframing a lot of things and giving you the motivation for big change. Did you continue to work while building up your solo content or did you take the leap and quit to go at it full time?
That's the part where I really hesitate, I can't seem to get myself to give up the safety net but I know continuing to work full time while building my app is really slowing me down.
I did continue to work a bit, yes.
Don't give up your safety net. Work on a side project until you've backfilled maybe 60% of your income or have 3-6 months runway. That makes it easier, IMO.
great read, thanks for sharing.
Thanks for reading.
Thanks for sharing this! Following Justin for a few months.
What he did is incredible. I am also on my solopreneur journey. Every small educational thing like this, adds up!
Thank you!
Thanks for sharing with us smaller indie makers.
It seems like I need to create a course, too :)
It depends. Do you have good social capital and a lot of engagement? Audience first, products second.
Amazing read. Some really good advice offered by Justin and also some ideas I didn't know about. Thanks Justin!
Glad you enjoyed it, Javier!
Big fan of Justin Welsh 👍🏻
Thank you, my friend!
Thanks for sharing. Awesome read.
Thanks for reading!
Good read. I'm a 20 year who's just cracking into the world of entrepreneurship. This article reminded me of Company of One by Paul Jarvis.
It's a great book!
Super inspiring read, thanks for sharing @OfficialJustin! I couldn't agree more on your ethos of going big while staying small — the best of both worlds!
Your writing and courses encouraged me to get my own digital product course launched earlier this year. Not a bad start, but always looking for new ways to add more people to it.
Congrats on the launch, Mike!
Good on you! I have a very similar worldview. Not making anything like that kind of money, but I don’t need to so that’s fine!
That's awesome. No need to make this kind of money. This wasn't even my goal, tbh.
Designing your business to match your lifestyle is so important.
I trapped myself in a job for years before I left a six-figure freelance business to move toward selling courses for creators and solopreneurs.
Hiring people wasn't for me and while shifting business models never is easy, it gives me a lot more time with my daughter and wife.
That's the ultimate end goal for me, Jan.
One thing I've learned is that it's always flowing and never feels lime you're there.
But as you know, it's a fun journey packed with chances to learn
Justin is a great guy, have been following him on Twitter for the last two years. Have learned a lot of things from him for real.
Thank you so much!
How do you measure progress? i'm also a soloprenuer (10k MRR).
One thing I struggle with is I make all these changes, run all these experiments.
Then 2 weeks later, I have no idea if this was impactful or not.
it makes me scared to continue being Action First.
Run one experiment at a time for a meaningful period of time.
That will help you isolate whether or not it's truly working.
Also realize that solopreneurship will likely never be stable - so embrace a bit of unexpected ups and downs.
Youre amazing. Thank you :D:D:D:D:D
Such a nice interview. My favourite part being the 'on relieving stress and going solo'. I am a big fan of Justin & someone who aspires to be a solopreneur, he is a great mentor.
Thank you so much!
As a sole proprietor, you must be okay with things not being perfect. Therefore, I typically finish relevant assignments. In the 20% of things that are genuinely influential.
https://ectipakistan.com/factors-of-38/
It's crucial for solopreneurs to accept that nothing will ever be perfect. I therefore typically finish meaningful assignments. 80% of things don't actually move the needle, but 20% do. https://ectipakistan.com/factors-of-47/
Same. Focusing on what truly matters is extremely helpful when you're a one-person show.
Nice interview! I can definitely relate to the part about the potential loneliness while you work solo. I go through this right now. We, humans, are built for social interactions I believe. And I think the offline ones work much better.
I agree. I'm setting up some regular social interactions to make sure I don't get that lonely feeling.
What was your first year as a solopreneur? and more specifically the first 3 months? do you still remember? did you have enough savings to make it through it or was it a "i either make this work or im on the street" situation?
My first 3 months were August, September, and October of 2019. I had saved up enough money to go about 90 days or so, so I needed to make it work pretty quickly.
I did so by consulting in my previous industry which was the easiest way to make some money out of the gate.
Thank you Justin!
Thanks a lot for sharing it.
I'm really surprised by " I don’t want to “scale up” or “go big”. I want to actually go smaller." But, I'm thinking now that it should be the best way to manage your life.
It might be counterintuitive, but I'm not interested in working more.
I'd like to work a bit less and maintain my lifestyle.
That bit about taking action was interesting. People always say to take a break to relieve stress, but sometimes you've just gotta get it done.
That said, how do you handle the fact that tasks for solopreneurs are pretty much infinite? When do you take that break?
I take breaks all of the time because I don't focus much on every task.
As a solopreneur it's important to be OK with everything not being perfect. So, I generally complete tasks that are meaningful. In the 20% of things that actually move the needle.
The other 80% I either eliminate, automate, or ignore.
@OfficialJustin when did you shift your focus from making more to working less? Like, was a specific revenue (or workload) where you thought "this is enough"? And has your revenue continued to increase since or did it level out?
I reached a point in income where more income didn't improve my life at all. I decided at that point to focus on a ratio of work:income rather than maximize earnings.
Thank you, it is very helpful for someone who is about to start a business.
I am also going to build a SaaS soon or maybe start a service based business. These tips are really helpful. Thanks James
Hey Justin, I appreciate your perspective on the solopreneurship experience. I see you hold time each day for writing and notice that your MRR breakdown includes an email subscription you send out. I'm curious, were you a marketer before or did you have to learn these skills?
Is awesome meet to Justin here. I've been following his work since time ago from LinkedIn.
What a generouss person. Thanks a lot
Your transformation from startup executive to solopreneurship resonates deeply. Your journey showcases the power of mindfulness – turning panic into purpose. The intentional way you design your days reflects a mindful approach, aligning with your need for balance and creativity. Just as you find solace in the present through action, mindfulness emphasizes being present in each moment. Your evolution beautifully reflects how mindfulness can guide us towards fulfillment.
Relieving stress by taking action absolutely helps me today. Instead of just worrying about stuff that had already happened or might happen in the future, I try to just live the moment now and do what I can.
I certainly admire Justin and think his story is interesting. However, I do feel like too many people try and become coaches and mentors for things they really don't have the experience to be coaching. This is not the case for Justin, it just feels like everyone and they dog has a course or coaching product now. Likely a case of those I follow vs. the reality though!
At what point do you consider yourself successful enough to "go smaller" instead of needing to grow to support yourself?
Go smaller is a beautiful message! But what if revenue stagnates or starts falling? We do need to grow big then, no?
Not necessarily - just depends on your goals. If your goal is to be your own boss and live a good life, "stagnating" revenue could also be looked at as "stable" revenue that allows you to do that.
But of course, if your goal is to grow big, then you've gotta try to grow big!
I've heard people say that the purpose of a business is always to grow revenue. I don't think that's true. I think the purpose depends on the founder.
Beatiful words . In a world that everyone is desperately chasing money and fame it's so relaxing to hear someone seeing no value on those things
Love this! Go smaller!
Curious did you set up an LLC or just went sole proprietorship and did your own books and taxes?
Such an inspiration for anyone looking to leverage writing to create freedom.
Justin's history is a great inspiration for me.
I haven't even started and a lot of what is written here resonates to me.
I think that commitment, consistency and dedication are the key words here.
I agree. For me the discipline is the key.
Justin Welsh's success as a solopreneur, earning $135,000/month, showcases the power of intentional work, creative control, and supportive networks.
Justin is the first "sales guy" I've come across to set a tone I can resonate with. It's no fluff or BS. Just feels very genuine and straightforward which I like.
Very inspiring interview. It really hits home with the statements that relate to business/life balance and dinners/lunches with the wife.
I am specifically trying to reach the stage where I can have a peaceful lunch whenever the weather is nice, not whenever it is planned.
Stellar story and again, quite inspiring.
p.s. this post on the homepage only has "fdddd" for me 🤷♂️ It is actually the reason I opened it in the first place.
This is excellent
I loved this interview.
Justin was who got me into Indie Hackers in the first place, and ever since I visited this platform I can't get out of it. It's like a much simpler and better Reddit.
From the interview, I particularly liked what he mentioned regarding scaling. I do feel identify with that. Some of us don't really want to build multi millionaire empires with hundreds of employees. We just want to live well off by doing what we love in a relaxed manner, and making use of the immense leverage of the internet.
Great stuff @IndieJames!
Thanks! And yeah, totally agree.
Interpersonal skills are essential for success in any industry, and this interview highlights the importance of interacting with people daily. While some C-level executives may prioritize meetings over interpersonal connections, it's critical to develop relationships with colleagues, customers, and other stakeholders. Additionally, the book recommendation "Company of One" by Paul Jarvis provides valuable insights for anyone interested in pursuing a solo founder journey or seeking to prioritize lifestyle over growth. Overall, the interview and the recommendations offer inspiration and practical advice for anyone seeking to build a successful business while maintaining a balanced and fulfilling lifestyle.
What's interesting is that this guy focuses on interacting with people every day. There are countless C-level people who literally do not interact with people and instead devote their time to meeting after meeting.
haqha
Interesting. I just left a consultant / agency life behind – and a lot of our internal discussion were focused on growth (close more deals, hire more people, rinse and repeat) vs lifestyle (we're comfortable and can sustain indefinitely). We ended up trying a combination of both, had the most luck with the lifestyle / personalized model, and moved on to new things after 6-7 years.
Justin is a great follow on Twitter too :)
Agreed!
Solo entrepreneurship is great as I am one myself. Offering agency services to my clients and doing the work myself may take time but I also do not like managing employees as you mentioned. It's the way to go! Maybe not for everyone but for me.
That's totally true for me. I'm a solopreneur because of the freedom to make my own decisions - when to work with whom on what, and when not. That's so unique that you're happy to work more for it than you did before. But Justin has already achieved it - and then, of course, working less but "better" is the next goal.
Great article! Would love to learn more about how he found this group of people he bounces ideas off of!
Amazing!
This is the exact life I want to live. I took the leap and started the solo founder journey. It didn't work out well. But I learned many things along the way (like marketing) by wearing different hats. It is a fulfilling journey. Thanks for the inspiring story.
Out of curiosity: you get the most revenue from teaching courses. Is there any good pointers on how to do course teaching, like tools to make course, where to host course and how to distribute/marketing the course? Thanks.
Such an inspiring read. I wish you the best !
Wow! What a great interview and advice. This is very inspiring for me as I've been running solo with my publishing company for almost a year and a half. It's demanding, but very rewarding. Thanks for the motivation!
Nice interesting story. It shows how there's always an opportunity waiting for someone to take, while also highlighting it is not necessary to build up a large team - or really any team at all for that matter.
Love it! He is a total G
Very inspiring read, you helped me visualize the future/life I could have outside of my 9-5 job.
Inspirational reading !!!
I just started my new solopreneur adventure.. hoping to reduce my stress 500%
Your outcomes are outstanding. I appreciate you sharing!
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Love this! I'm writing about people like this as well, check it out
https://onepersonbusiness.substack.com/
Hey @OfficialJustin, long time Linkedin follower of yours. Great content!
I'm curious if you have any data on course completion % and overall positive outcomes?
I've always struggled with trusting gurus online because they seem to be an expert at selling their course and not necessarily the thing they are teaching. Not saying this is you, rather, the entire US higher-education system is made up of people who can effectively teach astrophysics but aren't rocket scientists at NASA. Just wondering if that is data you have on hand!
Awesome read! Thanks for sharing. It's great to get a peak behind the scene in Justin's world
This article is inspiring! My favourite takeaway - “I don’t want to “scale up” or “go big”. I want to actually go smaller. Work less, make the same, and continue to design my life with intention”. Makes so much sense.
Your results are exceptional. Thank you for sharing!
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