$1M Solo Business Revenue Update 🚀
Thank you so much for following my little journey towards a $1M/year business. It really means the world to me 🖤
Current revenue: $500k/year
You can also:
📺 watch the youtube video
🔊 listen to the podcast version
☕️ catch up daily on my personal website
🗓 May 23rd, 2023 | Little trick
Was at a bar in London having a drink with a girl.
The barman brought just my drink.
A few minutes later, her drink was still not there.
We were wondering if he forgot about it. And we were thinking of reminding him of it.
As you can imagine, this is not the ultimate customer experience.
Then, he brings the drink and says:
"Thank you for your patience, I had made the drink but I didn't like it. So I made it all from scratch again from the beginning. Please try it and let me know what you think."
He won us over big time. It felt super premium.
I will do this at my agency also. You can turn late deliverables to a premium experience :)
🗓 May 24th, 2023 | True work
True work begins when the TODO list ends.
When you’re on top, you’re tempted to take a rest.
That’s the time to double down and implement systems so it’s always chill like it is now.
I’m on Inbox Zero and Task Zero with 20 clients.
I could either rest and wait for entropy to kick in again.
Or I could take this opportunity to use my energy and free time to sit down and find ways to remove myself even more from the process.
Like in fighting, when you are on top, you have to push. Not wait and play with your food.
🗓 May 25th, 2023 | Copycats
Why copycats dont work:
I want you to picture this normal distribution meme: https://i.imgflip.com/56amfo.jpg
In the far left, it is “just copy a successful product”.
In the middle its “it has to be unique, customer interviews, surveys, etc”
The far right its “just copy a successful business” again.
The thing is that most copycats are in far left of the distribution.
They either copy the wrong thing because they don't understand the intangibles.
Or they copy the right thing but quit early pr don't know how to grow it because they lack the skills.
Copying can absolutely work. But most people can't pull it off.
🗓 May 26th, 2023 | Diversification
2 is the ultimate number for diversification.
It’s not about being perfectly diversified.
It’s about having insurance. About surviving. Avoiding ruin.
That’s it.
Example:
I thought that I needed a second business bank account.
But, why?
I don’t need a second business bank account. I can take care of all business expenses for years from my personal accounts if needed.
And in the meantime get another business bank account.
Stop creating imaginary work.
🗓 May 27th, 2023 | There is no ceiling
5 years ago I was employed and making $6,000/year.
Yesterday my business generated $6,000 in profit.
So.. I made in one day.. What I used to make in a year.. While working less..
This doesn’t even feel real. What the actual fuck.
🗓 May 28th, 2023 | Embrace boredom
All major epiphanies in my life have come from moments of boredom. Or during runs.
I am thinking of throwing away my AirPods.
Good ideas come when your mind is at rest. Not when it's consuming podcasts and books all day.
We are thinking other peoples' thoughts more than we do our own.
That's crazy.
🗓 May 29th, 2023 | Cut down on expenses
I have realized that these two things make me feel super secure:
- Money in the bank
- Profit to expenses ratio
I prefer to make $20k/month while spending $2k/month in business expenses.
Rather than making $40k/month while spending $15k/month in business expenses.
I ran a little audit of my expenses and found so much bullshit I could just cut.
Took my business expenses down from $6k/month to $3k/month.
Wild.
I really do love you, Alex 🖤
PS. Replies go straight to my inbox and I love getting mail :)