Monday, August 3, 2015

Can a solo entrepreneur generate $1 MIL + with no employees?


I've read articles recently that speak of little companies who break the $1 million sales mark and more. One of the best writers I've found covering this topic is Elaine Pofeldt, a contributing writer to Forbes, who says she "covers the growing wave of one-person businesses and their ecosystem." And, she does a good job.

I'm obviously interested in this topic because I am a solo entrepreneur. I occasionally hire contractors or sub out parts and pieces of projects, but I don't have an employee, nor do I plan to have any employees. Is that going to hold me back from making more money?

The US  Census Bureau reports there were over 30,000 non-employer firms in 2013 that reported earnings of between $1 million and $2.4 million. If they can do it, can't you and I do it also?

Ms. Pofeldt has covered entrepreneurs in the businesses of PR, subscription gift boxes, fitness, babysitting, speaking, and, well, I'll lead you straight to Ms. Pofeldt's work, and you can read for yourself. It's fascinating and inspiring stuff!

So, don't be disheartened if you think you will never make any real money working alone. Follow Ms. Pofeldt, and learn, learn, learn. Every entrepreneur story I've ever heard involved lots of learning and digging for gems of wisdom on a topic. I experience that myself, and I bet you do also.

My favorite stories are non fiction, the true stories of how one person had an idea and built upon that idea until a business took hold. Then, that business grew and grew until it was a household name. Reading those stories inspires me because I know every one of those successful entrepreneurs started out just like you and me. One try at a time, and one day at a time.

We aren't reinventing the wheel by being an entrepreneur, but we do have to work smart to get on top in our field. Find some writers and speakers who are aligned with your passion, and follow them. It might be the best tool you ever used.

Now, as I promised, here's where to find Elaine Pofeldt:
Elaine Pofeldt at Forbes

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