Company of One: Why Staying Small Is the Next Big Thing for Business

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Companies of one can deliver customer serve that doesn't scale. They can go above and beyond with their service, get real fans, and then have them spread the word of mouth (as well as become loyal repeat customers).

Instead, the book inspires us to fund our lifestyles with our passions and reminds us that a busy life isn’t a good life. Working more productively can help reduce the time and energy it takes to earn your living. It's also becoming less and less risky, while corporate jobs are nowhere near as secure anymore as they used to be.The more you can niche down, the better you will be able to help a specific group of people get exactly what they want and need. The traditional model of running a personal business is focused on endless growth and, thus, marked with endless stress and overwhelm for the owner. That’s why there’s a whole industry built around books like The E-Myth to help alleviate founder burnout.

And when he reached it, he realized something the Bushmen realized a long time ago (and something which most business owners never do): enough is enough. A “company of one” is a collective mindset that can be applied to small, medium or large businesses alike. The impact and implementation process will be different in different contexts, but the fundamental principle is always the same. A company of one is a business that questions growth, not because of stubbornness, but because growth is often not the answer you are looking for. Obviously, the first thing you need is an idea for a product or service. Jarvis suggests using a passion project, side hustle, or freelance gig to inspire you. The more passionate you feel about the idea, the better. Here’s how: first, you must outline the type of life you want to live. Think about what kind of home you want to live in, the type of car you hope to drive, and the number of vacations you wish to take each year.

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In the beginning, look for people who have questions you have answers to and offer your opinion free of charge. Many people are worried about sharing their ideas with others, but ideas alone are worthless, it's the execution that matters. bq] "Just as company growth should be questioned, so too should a busy schedule." 6. Personality Matters If your startup were to be funded by venture capital instead, you’d be a slave to their requests. Rejecting massive upfront funding grants you more independence. One piece that personally annoyed me is the author would, now and again, use the feminist trope of muh-white-men bad; which the narrator would translate into the most annoying "oh my god these annoying white men" voice.

In other words, if you want to earn more money, you’ve got to brace yourself for more problems: more profits mean more customers which means more employees which means more bureaucracy, etc. etc. Counterintuitively to everything you know about business, Sean is only interested in reaching his target limit, never exceeding it. A company of one,” explains further Jarvis, “resists and questions some forms of traditional growth, not on principle, but because growth isn’t always the most beneficial or financially viable move.” Places that allow their employees complete freedom/independence in how/when their work as long as. the results benefit the company. Your business can thrive with less! Company of One is an riveting, lucidly written guide to run a successful minimalist business Joshua Fields Millburn, Author of The MinimalistInstead, start a side gig while you’re working—something you’re passionate about, something you’re good at, something that will keep your mind off your exhaustive 9-to-5 job. Innately, larger companies are more complex than smaller ones. But for a company of one to be successful, the foundational principle is that it must remain simple. This means a simple customer base, simple product offerings, and a simple business structure. StoryShot #2: Running a Company of One Requires the Right Mindset Placation: trying to change the mind of those people who don’t like or resonate with your product/service. Although purpose and money are not mutually exclusive, you’re more likely to be resilient when you know that even in awful or stressful situations, you’re working toward a greater and larger good. This sense of purpose comes from values that are unchangeable and central to both individuals and companies as a whole. Companies of one know that they can enjoy their work without always enjoying every aspect of it.” – Paul Jarvis