New one-person business owners are having babies.
Every day a one-person business owner gives birth (thanks to their example) to another person who migrates from the old economy to the new one that exists on the internet without borders or passports.
I am one of those people. I own a one-person business with one employee: me. My accountant forced me to take a wage and set up a retirement fund, which is kind of funny.
I quit being an employee for an employer … to be an employee of ME INC.
When I pay my own salary, record my own leave in the system, make appointments with myself, and hit send on the monthly payment to my 401K, it makes me laugh. In a normal job this is all done for you.
In a one-person business-job you do what you never used to do. This is how you learn. Running a business is better than an MBA. And you only start by doing everything yourself. That all changes later though.
Top one-person business owners are defined as making 7 figures or more a year. I’m in that category. So are many people in my inner circle.
Here’s what we’ve learned to quit to be successful.
Failed one-person business owners are tight arses.
My friend Dakota makes more than $50,000 from his business most months. Recently he says he lost $20,000 in a split second.
A friend helped him with the business for free. He felt compelled to help them in return so he joined their $25,000 mentorship. What he got was $500 in value. The help was no better than an unqualified dude on the $5 marketplace Fiverr.
He was pissed and had a big cry (the big baby).
He asked his friend for a refund. It turned into World War 3. F-bombs got dropped. People’s mothers were mentioned. Samurai swords came out of the cupboard. The friend decided to keep $20K and give back $5K.