How to Make $1 Million in Business with No Employees, with Elaine Pofeldt

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 29 September 2021

⏱️ 80 minutes

🔗️ Recording | iTunes | RSS

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Summary

#340: Imagine this: You start a side hustle. Maybe you sell planners or lead workouts in the park. You make a few thousand dollars during your first year. It’s fun beer money, but not enough to quit your day job. But you keep growing. You run this as a one-person operation, though you bring on freelancers or independent contractors. Your revenue grows into the five figures. Then six figures. After a few years, you’re running a one-person, million dollar company. This sounds like a pipe dream, right? But it’s the true story of Laszlo Nadler, who created a line of planners and calendars. It’s the true story of Stacy Berman, who started leading 5:30 AM fitness bootcamp classes in the park. And it’s the true story of hundreds of other solopreneurs interviewed by business journalist Elaine Pofeldt, who took a deep-dive look at the lives and businesses of entrepreneurs who run companies that gross more than $1 million, but have no employees. In today’s episode, we take an inside look at the secrets behind one-person, million-dollar businesses. If you’ve ever considered starting a side hustle or business of your own, don’t miss this. This episode originally aired in March 2019. For more information, visit the show notes at https://affordanything.com/episode340 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hey, this is the Affordable Care Podcast.
0:01.9	I'm Paula Pant and welcome to the 4th and final September sabbatical episode for the
0:05.9	month of September 2021.
0:08.4	During this month, we have aired four of the best episodes from our archives, themed
0:14.0	around FIRE, F Financial Psychology, I Investing, R Real Estate, and today we're airing E for
0:21.7	Entrepreneurship.
0:23.1	The episode that you are about to hear originally aired as episode 180, it aired in March
0:29.4	2019 and it focuses on a very special class of entrepreneurs.
0:34.7	Those who gross $1 million or more in their businesses despite having zero employees.
0:41.5	So if you've ever thought about starting a business and you'd like to lean into your business
0:45.5	but also have your business be lean, you could learn a lot from this episode.
0:49.9	One quick announcement before we go into it, if you are interested in building a real estate
0:54.8	business, if you're interested in becoming a real estate investor but you have questions
0:58.8	like I live in a high cost of living area and is 2021 really a good time to start?
1:04.6	I'm running three free virtual live streams that will answer these questions.
1:11.1	If you go to affordanything.com slash real estate, you can register to come to these live streams,
1:16.6	you can also bring your questions.
1:18.4	We have live audience Q&A.
1:20.2	These will all happen within the next two weeks.
1:22.6	They're all happening in the first two weeks of October 2021.
1:25.9	So affordanything.com slash real estate, register for free, I'll see you there.
1:30.5	Alright with that said, let's go to today's episode.
	...

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