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This book was a pleasant read and provided further insight and examples of the growing numbers of one-person million-dollar businesses. I gave this book a bit of a lower recommendation because it seemed to lack some more substance that I would've hoped for.
These businesses offer three things that elude most workers today: control over their time, enough money to enjoy it, and the independence.
Million-dollar entrepreneurs understand that no matter how lucrative their idea or what their market research proves, they won’t stick with it if they aren’t truly interested in it.
Uncovering an idea that you will enjoy thinking about every day—whether that is when you are writing copy for your website or answering a customer’s question about it—is the secret.
What will help you break into the seven figures is to expand your capacity beyond what one person can do. The only ways to do that, without hiring employees, are by hiring contractors to help you, outsourcing, and automating some of your work.
“If you can outsource your supply chain, you have almost unlimited scaling available,” he explains.
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.
Choose early to educate yourself on subjects you love and then become an expert at them by practicing your passion daily.
It starts with forming an idea of the type of business you want to run and the lifestyle you want it to support.
It’s important that you believe in what you want to create and what you’ll be selling.
“The key to success [in e-commerce] is building a reputation as a curator of a certain type of highly specialized product and creating a community of aficionados with a unique consciousness.
“The average person can be successful pretty easily by creating something very niche oriented,” says Fairley. “The more niche-y, the better.”
Most million-dollar entrepreneurs turn their businesses into living laboratories from which they can continually learn how to scale their revenue and profits.
Growing a high-revenue, one-person business is not about chaining yourself to a laptop for twenty hours a day while you live on ultra-caffeinated energy drinks. It is about working smart and strategically.
What can I eliminate? • What can I outsource? • What can I put on the back burner? • What can I say “no” to?
One way to avoid getting lost in the mundane aspects of running a business is to keep yourself in touch with your higher purpose in life.
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