How To Start A $1,000,000 Business With 0 Employees

my first year business I did about 550 000 it was just me you can like make a lot of money just by yourself with a phone there are like a whole bunch of people that don't openly talk about their business that turn out a couple million dollars a year they don't really talk about it they have very small teams and they have very good lives my business does 1.7 million in Revenue per year every day on social media someone tells me you could add five more million if you did why I don't give a sh I don't want to worry about anybody else other than myself and my wife what if I told you you could make more money than a Fortune 500 CEO with a zero employee business I wanted to find out how the heck this is even possible so I interviewed three entrepreneurs who were making over a million dollars a year with no employees to ask them how exactly they're able to do it and advice for people like you and me what's your business we run copywriting course we basically optimize emails homepages newsletters for companies so they make more a profit and we're a seven figure company and so how did you go from idea to making your first ten thousand dollars with this idea I was a originally running a rave company and then I was actually working with you on appsumo and you were sending out really bad emails I just learned how to do copywriting which is like writing better emails and I was like let me try it on appsumo emails and that was like one of the highest revenue days ever we tried it again and again and we're like okay this works and so what happened was a lot of people reply to those appsumo emails saying how are you doing this why am I reading an email where you're trying to sell me something what are you doing why is it so good and I'd be like oh it's actually this thing copywriting and by the fifth time I had to respond to one of those emails I was like maybe I could just record this and make it a course and I tried selling that and it did really well it just kind of took out from there so I'm Sam Parr I'm most known for the hustle which is a daily email that's read by close to three million people today I got it to eight figures in Revenue sold it for multiple eight figures I'm also known for this podcast my first million it gets like between 5 and 10 million downloads a month when you were bootstrapping like your conferences the hustle it was really just you for a lot of it yeah so the our my first year business I did about 550 000 in Revenue I believe it was just me but basically what I would do is I would get speakers write content promote the content which would sell tickets and I would do that for like eight weeks at a time take like three or four months off do it again and each time I would make like quarter million dollars so my name is Justin Welsh and my business does about 1.7 million uh in Revenue per year so how did you go from zero dollars I think that's a lot of the audience out there wants to have the solopreneur one person business that's doing seven figures walk us through that so I did what a lot of people do when they become solopreneurs is I did Consulting so I said okay I've worked in healthcare Tech on the sales and marketing side for a decade both companies that I've been in have been you know valued at over a billion dollars I'll just roll right into sort of uh Consulting and Advising for other Healthcare technology companies that want to grow their sales and marketing Revenue the way that I make money now and what I talk about now in solopreneurship and social media that was never the intention so I went from being SAS advisor and consultant and fast forward four years I kind of walked away from that life and the core course that you have that's the the majority of the revenue what is the course for people who don't know it's called the operating system and it's essentially a two-hour course on how to use LinkedIn effectively and so I just basically walk people through in two hours like how do I how do I think about building a following that matters how do you build a business on the platform that's my that my major course so how did you go from idea to like quarter million dollars in this first event the first conference I went and emailed 10 people and I said hey uh you're the 10th person all the other nine are going to come and speak are you in in reality none of them had said yes but I kind of like pulled the fast one thank God they all said yes and I started blogging and I would write a story about each speaker I would post it on Hacker News get traffic they would sign up and give me their email because I would say like you know if you're interested in more content like this sign up I'm hosting an event by the way and in six weeks I made like 65 000 on the first event what was the cost to you of running this business and my business costs about 623 dollars a month I run it about I think I have to do the math but I think it's something like 94 95 margins can you break down the 1.7 million I'll do about 1.3 million in courses I'll do about 144 to 150 000 in coaching 108 to 120 in sponsorships about 100 to 103 in subscriptions and then around 24 to 30k in Affiliates if after watching this video you want to get started with your own zero employee business but you're not quite sure how to get started I put together a course a couple years back to help you go from no business ideas to making over a thousand dollars a month in 60 days it is not a get rich quick scheme it will take some work but it is only ten dollars to join for a limited time because I want to help as many of you as possible to get started on your own entrepreneurial Journey head over to monthly1k.com to sign up so someone wants to copy your blueprint they want to make a million dollars just like you're doing yeah like what advice would you have for them uh one sell a digital product first I'm not a big I used to sell physical products and I think there's a lot of margin a lot of the like you know shipping containers get lost all sorts of that kind of stuff if you sell the digital product about something that you're good at then you can replicate that for a lot of different people and I think the margins on a business like mine are extremely high because there's not a lot of costs a lot of things can be done by a computer rather than a human so you don't have a lot of hiring costs and also uh doing something that you really like doing and doing something that people already pay you for so a lot of people will come to our course and be like I want to be a copywriter I'm like have you ever written copy and they go no and I'm like well what have people paid you for in the past and they're like well I'm a bookkeeper I'm like is there a way to make money off of your bookkeeping skills so sometimes people try to go into like a whole different industry without any experience at all which is a little perplexing to me it's like the universe will tell you what you're good at what have people paid you for in the past what advice do you have for someone who's just getting started uh to be an entrepreneur and they want to make a million dollars newsletter just go and learn a topic and be like two or three weeks ahead of your users and just write about what you're learning and become like a quote expert on it and just aggregate information out there and send it to people and monetize through advertising or through something like like that it's a very sellable asset do you think this is replicable today and by anyone dude not only is it replicable I tell people to do this all the time so listen to this my partner Sean in the podcast he was like Hey I need something to do maybe I'll do a newsletter will that still work and this was 10 months ago I go yeah dude just copy exactly what the hustle did I'll show you he just sold it the milk thing the milk road so he sold it he grew up to 250 000 subscribers in 10 months and he just sold it for millions of dollars with a newsletter one person subscribes and it's the same amount of work to service one person as as it is 10 million people and so at the hustle we for a long time there was nine months where we had 1.5 million subscribers we had one person write it for people out there that are saying Hey I want a one million dollar solar printer business how would you explore that today building an audience right I think that's the that's a recommendation take all the people that you love following and reverse engineer their Journey go back in time using Advanced Twitter search and find their Journey watch their writing see when they got their first piece that started to resonate and so I just broke it all apart and started using it in my early journey and then over time your style will change you'll evolve and you'll find your own voice and pretty soon people will follow you for your own voice and then when you have an audience you have leverage you have optionality you have so many different things that you can do with that attention your business is almost fully automated like walking through your systems or how things are built to allows you to have that one of our ways is through social media and by SEO so people search like how to become a copywriter they find like posts and they sign up to my emails then my emails for the next six months will send them an email every couple of days and then some of the those people will see sales promotions for our stuff and buy it and so theoretically I don't have to be involved for any of that what are the pros and cons of building a solopreneur type business you can do whatever the hell you want like some days I literally don't do anything and it's not even it's not a joke or I'm trying to exaggerate I don't do anything certain days I just scroll social media I browse Reddit and that is kind of like part of my job to just like browse the internet and stuff like that and get ideas but at the same time there are days where I'm like I literally don't know what I did why did you choose not to hire full-time people I don't want anything that puts me out of control I am the owner of every part of my business I don't want a publisher involved I don't want a partner involved I don't give a sh I'm the owner of every part of my business I'm accountable to myself I can go on vacation when I want I don't answer to anybody and I no longer have the fear of losing that control and that's what solopreneurship to me is all about when someone's starting a new business do you think everyone should do the solopreneur way like you've been doing which is like get it going make the money validate it and then you start making thinking about hiring Freelancers or full-time so if you don't want to raise money then yeah I think you should you can like make a lot of money just by yourself with the phone I know a bunch of people you probably know them too who are doing two three four million in Revenue with just them in an assistant by selling information on like gumroad and using Twitter to get popular that's incredibly common I could name five people doing north of two million in Revenue already on that the face of the company their job is to build an audience and then create something once that they can sell twice then all they do is just constantly like create content to promote it making two million dollars a year is a ton of money that's like what a banker makes and they're working like 100 a week you know what I mean what's your take on the Silicon Valley Super growth hire people fundraise everything versus like the solopreneur growth I do think there is kind of like the middle of the road ground where it's like you can have like a business just spitting out a bunch of cash that doesn't take like a ton of effort to do but if you are trying to change the world and make some sort of like tesla-like company yeah it's uh you're probably gonna have to go that route yeah but there are like a whole bunch of people that don't openly talk about their business that turn out a couple million dollars a year they don't really talk about it they have very small teams and they have very good lives if you like this video You're Gonna Love this one right up here where I show you how to start a million dollar business in a week if you haven't subscribed to the channel you know what to do Uncle Noah loves you and I'll see you out there pew pew

Channel: Noah Kagan

Views: 679,633

Keywords: million dollar business, million dollar business ideas, one person business, 0 employee business, how to make 1 million dollars, 1 million a year

Id: FbDkTKfPC5U

Length: 10min 7sec (607 seconds)

Published: Tue Mar 28 2023