How To Get To $1 Million With Zero Employees

Capitalism.com with Ryan Daniel Moran

Capitalism.com

Entrepreneur, Amazon, Lifestyledesign, Investing, Startup, Ryandanielmoran, Finance, Cashflow, Freedomfastlane, Lifestyle, Business, Passiveincome, Financialfreedom, Entrepreneurship

4.8 • 793 Ratings

🗓️ 15 January 2018

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

Full show notes at https://freedomfastlane.com/

Making millions without a big team seems, at first blush, rather daunting. How is it possible to make that happen?

As Elaine Pofeldt has found, it’s more common than you think. In fact, you can do it without hiring a single employee.

Before embarking on something like this, you need to make sure you start with your desired lifestyle in mind. A business is a means to an end. If you make the business itself your reason for being alive, you expose yourself to substantial psychological risk down the road (such as if you discover you hate the work or find yourself reflecting on missed opportunities to do other enjoyable things).

Then look to entering a field of commerce that interests you. You’ll find yourself enjoying the work that much more.

Let’s say you like traveling and enjoy writing. You could build up a business as a marketing consultant, traveling around the world, with your “office” being any computer with Internet access. Now you know what the “seeds” are for your zero-employee business.

Once you’ve planted the seeds, you can scale up more easily than ever before, as you can reach a global market through the Internet.
You don’t have to do it alone, though. It’s easier than ever to find non-employee help, harnessing online freelancer marketplaces like Upwork, or, if you have a physical headquarters, hire a contractor to do some tasks while you’re traveling.

Your business does not need a complex human resources system to be successful. You can keep it small while scaling to big profits!

Key takeaways:

You don’t need employees to reach a million dollars
There is less friction than ever before in building a business
Why your next business is immensely valuable to society

Connect with Elaine

Find out more about Elaine at http://elainepofeldt.com/

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Transcript

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0:00.0	I think that we're getting pretty close to having more $10 million one-person businesses
0:05.5	because I noticed just in speaking with some of the entrepreneurs from the book,
0:10.6	they're already getting into the $3 million range and beyond in some cases.
0:16.5	It's just a matter of time.
0:18.3	It's such a great opportunity right now for people who are really smart about figuring out how to put all these trends to work for themselves to create a better life.
0:32.1	You're listening to Freedom Fastlane presented by Capitalism.com. This is the show about building businesses and
0:39.0	investing the profits so that you can live life on your terms.
0:52.3	Hey, Fastlaners, Ryan here. Welcome to Freedom Fastlane. Hey, today I'm going to be speaking
0:58.0	directly to those of you who are thinking about starting a business, who have been listening to
1:02.8	some of the stories that we have featured here on Freedom Fast Lane, and you're like, hey,
1:07.4	I want to do that. Because I'm going to be joined by Elaine Pofelt who wrote the book,
1:13.7	the million dollar one person business. So she's literally written the book on how small
1:21.1	entrepreneurs can get to the million dollar point and beyond, which is something that I have
1:26.4	personally specialized in. Several hundred million dollar point and beyond, which is something that I have personally specialized in.
1:28.4	Several hundred million dollar businesses have come out of listening to the show and through
1:34.6	the tribe and our training programs that we have at capitalism.com and freedom fast lane.
1:40.5	So I wanted to bring Elaine on to talk about some other business models that are working
1:45.4	for entrepreneurs.
1:46.6	And she also mentions members of our community inside of her book, which was just featured
1:53.6	on the Tim Ferriss podcast and Tim's website.
1:59.0	So a bunch of our students are getting featured in big media, I guess.
2:05.1	So I wanted to bring her on to talk a little bit about some of these stories because I want
	...

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