Company of One

1. Question growth: Bigger isn't always better

Growth, as a primary focus, is not only a bad business strategy, but an entirely harmful one.

Rethink success metrics. Traditional business wisdom equates growth with success, but this mindset can lead to unsustainable practices and eventual failure. Companies that prioritize rapid expansion often struggle with:

• Increased complexity and bureaucracy
• Higher operational costs
• Loss of agility and innovation
• Diminished quality of products or services

Instead, focus on metrics that truly matter for long-term sustainability:

• Customer satisfaction and retention
• Profit margins
• Employee happiness and productivity
• Impact on your chosen market or community

By questioning the growth-at-all-costs mentality, you can build a more resilient and fulfilling business that aligns with your values and goals.

2. Define success on your own terms

Sometimes "enough" or even less is all we need, since "more" too often equates to more stress, more problems, and more responsibilities in both life and business.

Redefine your "enough." Success doesn't have to mean endless expansion or chasing arbitrary benchmarks. As a company of one, you have the freedom to determine what success looks like for you:

• Financial goals: What level of income provides comfort and security?
• Work-life balance: How much time do you want for personal pursuits?
• Impact: What meaningful change do you want to create in your field?

Consider these factors when setting your "upper bounds":

• Optimal size for maintaining quality and personal satisfaction
• Point of diminishing returns on effort and stress
• Alignment with your core values and purpose

By consciously defining your own version of success, you can create a business that supports your ideal lifestyle rather than becoming a slave to endless growth.

3. Lead with resilience and autonomy

Resilience, a major factor in building and sustaining a company of one, can be developed — by sharing the burdens as needed.

Cultivate adaptability. In a rapidly changing business landscape, resilience is crucial for long-term success. Develop these key traits:

• Acceptance of reality: Embrace challenges as opportunities for growth
• Sense of purpose: Connect your work to a larger mission
• Ability to adapt: Pivot quickly in response to market shifts

Foster autonomy within your company of one or small team:

• Develop a broad skill set to handle various aspects of your business
• Create systems that allow for independent decision-making
• Empower team members (if applicable) to take ownership of their work

Remember that resilience doesn't mean shouldering everything alone. Build a support network of mentors, peers, and professionals to share burdens and gain fresh perspectives when needed.

4. Scale systems, not staff

By scaling down every aspect of my life, I realized this was how I had successfully built my business all along. I had benefited immensely by resisting the typical avenues of growth and business expansion.

Leverage technology wisely. Instead of automatically adding staff to grow, focus on creating scalable systems that allow you to increase output and revenue without proportionally increasing costs or complexity:

• Automation: Use software to handle repetitive tasks
• Outsourcing: Partner with freelancers or specialized services for non-core functions
• Streamlined processes: Continually refine your workflows for maximum efficiency

Examples of scalable systems:

• Email marketing for one-to-many communication
• Online courses or digital products with minimal ongoing maintenance
• Productized services with clear boundaries and processes

By prioritizing system scalability over staff growth, you maintain the agility and simplicity that make a company of one effective while still allowing for increased profitability and impact.

5. Build trust through transparency and empathy

Trust has to be totally baked into every aspect of not only what you sell, but how you sell and support it.

Prioritize authentic connections. In an age of information overload, trust is your most valuable currency. Build it through:

• Radical transparency: Share your processes, pricing, and even mistakes openly
• Empathetic communication: Listen to and truly understand your customers' needs
• Consistent delivery: Always follow through on your promises

Strategies for cultivating trust:

• Educate your audience through valuable, free content
• Provide exceptional, personalized customer service
• Be clear about your values and demonstrate them through action

Remember that trust is a long-term investment. While it may not lead to immediate sales, it creates loyal customers who become your most powerful advocates over time.

6. Launch quickly and iterate constantly

Launching isn't a onetime, singular event, but a continual process of launch, measure, adjust, repeat.

Embrace imperfection. The pursuit of a perfect product often leads to paralysis and missed opportunities. Instead:

1. Start with a Minimum Viable Product (MVP)
2. Get it into the hands of real users quickly
3. Gather feedback and data
4. Make improvements based on actual user needs
5. Repeat the process

Benefits of this approach:

• Faster time to market and revenue generation
• Reduced risk of building something nobody wants
• Continuous improvement based on real-world data
• Increased agility to adapt to changing market conditions

Remember, your first version doesn't need to be flawless – it just needs to solve a core problem for your target audience. You can refine and expand from there.

7. Cultivate meaningful relationships

Relationships are the basis for building the trust required for commerce.

Invest in your network. As a company of one, your relationships are your most valuable asset. Focus on building genuine connections rather than transactional networking:

• Offer help and value before asking for anything in return
• Connect people within your network who can benefit each other
• Engage in authentic, two-way conversations (not just self-promotion)

Strategies for relationship building:

• Participate in relevant online communities or local meetups
• Create content that showcases your expertise and invites discussion
• Follow up consistently with contacts and nurture long-term relationships

Remember that strong relationships lead to:

• Word-of-mouth referrals
• Collaboration opportunities
• A support system for navigating challenges
• Increased resilience and adaptability for your business

8. Teach everything you know

To stand out and build an audience as a company of one, you have to out-teach and outshare the competition, not outscale them.

Become an educator. Sharing your knowledge freely may seem counterintuitive, but it's a powerful way to build authority and attract your ideal audience:

• Create valuable content that solves real problems for your target market
• Demonstrate your expertise through practical examples and case studies
• Be transparent about your processes and methodologies

Benefits of teaching everything you know:

• Establishes you as a trusted expert in your field
• Attracts clients who already understand and value your approach
• Creates a loyal audience that's more likely to buy from you
• Differentiates you from competitors who guard their "secrets"

Remember, execution is more valuable than ideas alone. By freely sharing your knowledge, you build trust and demonstrate your ability to deliver results.

9. Start small and focus on profitability

Being able to launch your business without any investment (other than a tiny bit of your own time), you don't have to make as many assumptions about the market, your product, or your potential customers. You can start your company of one simply by making your business idea as small as possible, then launching quickly.

Prioritize profitability from day one. Instead of chasing growth or seeking investment, focus on reaching your Minimum Viable Profit (MVPr) as quickly as possible:

1. Start with a small, focused offering
2. Keep overhead costs low
3. Validate your idea with paying customers early
4. Reinvest profits to fund gradual expansion

Benefits of this approach:

• Reduced financial risk and stress
• Greater control over your business direction
• Ability to adapt quickly based on real market feedback
• Sustainable growth aligned with actual demand

Remember, starting small doesn't limit your long-term potential. It allows you to build a solid foundation and scale intentionally when it makes sense for your goals and values.

Last updated: January 23, 2025