The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

How far did you go without any employee?

The Entrepreneur's Forum for learning how to build wealth and financial freedom the Fastlane way!

Say "NO" to mediocre living rife with jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence. Join our forum with more than 70,000 entrepreneurs who are making it happen.
Join for FREE Today
Get the books
Remove ads? Join Fastlane INSIDERS
(Registration removes this block)
Topics relating to managing people and relationships

MJ DeMarco

I followed the science; all I found was money.
Staff member
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
Jul 23, 2007
34,950
138,008
Utah
There are limits, but I think you'd be surprised at the limits.

I can only speak from my experience, but I'm just one employee right now (by choice) and I earn more monthly than most business owners, CEOs, etc, not withstanding the public company CEOs who tend to make millions per year, options, bonuses, etc. I'm at the point where I need to hire someone, but I really loathe the idea of stepping over into that line.

When I owned by internet company, I believe I started adding employees at around $40-60K/mo in net profit -- still a decent chunk of change.
 

Bodywake

New Contributor
Mar 11, 2018
3
6
FRANCE
There are limits, but I think you'd be surprised at the limits.

I can only speak from my experience, but I'm just one employee right now (by choice) and I earn more monthly than most business owners, CEOs, etc, not withstanding the public company CEOs who tend to make millions per year, options, bonuses, etc. I'm at the point where I need to hire someone, but I really loathe the idea of stepping over into that line.

When I owned by internet company, I believe I started adding employees at around $40-60K/mo in net profit -- still a decent chunk of change.


Thank you very much MJ for this super fast and super clear answer :)
 

HappyStoic

Contributor
Read Fastlane!
Mar 11, 2018
9
22
32
San Francisco
How far did you go (and do you think one can go) without any employee?
I mean only with freelancers and Business Partners (of other legal entities).

Thank you in advance
At the height of my most successful online business I was making 2200-3400 Euro in profits a day, all in a 1 man show. But here is the catch? I quite after 6 months because was working 18-20 hours non stop, literally. I was so happy that I finally stopped working, it was horrible and hard.

So assuming you would be tougher than me and work for a year you would be making 1 million Euro in profits a year. I don't think it's possible to make more than that unless you are able to work that hard for many years and become more efficient. Just my 2 cents.

Sent from my SM-G935F using Tapatalk
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

Bodywake

New Contributor
Mar 11, 2018
3
6
FRANCE
At the height of my most successful online business I was making 2200-3400 Euro in profits a day, all in a 1 man show. But here is the catch? I quite after 6 months because was working 18-20 hours non stop, literally. I was so happy that I finally stopped working, it was horrible and hard.

So assuming you would be tougher than me and work for a year you would be making 1 million Euro in profits a year. I don't think it's possible to make more than that unless you are able to work that hard for many years and become more efficient. Just my 2 cents.

Sent from my SM-G935F using Tapatalk

Hi HappyStoic,

Thank you for your answer. Your story gives some important figures about how far you can go as a solopreneur. Your output on the time you spent a day is also a valuable.
I'm impressed by the quality of this forum!
 

happiness2go

Contributor
FASTLANE INSIDER
Jul 21, 2018
86
91
Germany
I thought that this book might interest you:

The Million-Dollar, One Person Business: Make Great Money. Work the Way You Like. Have the Life You Want.

It is primarily a compilation of case studies of businesses that make over $1 million per year in revenue and are run by the founder alone (+ freelancers / suppliers)
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

MTF

Never give up
FASTLANE INSIDER
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Speedway Pass
May 1, 2011
6,550
29,290
I can only speak from my experience, but I'm just one employee right now (by choice) and I earn more monthly than most business owners, CEOs, etc, not withstanding the public company CEOs who tend to make millions per year, options, bonuses, etc. I'm at the point where I need to hire someone, but I really loathe the idea of stepping over into that line.

I'm thinking of launching a second business now, and I'm starting to realize that if this business can't be a one-man operation (like my first business), then I'm not sure if I want to step over into that line, either. The mere thought of having a team (even if it's contractors) makes me uneasy. If you put a lot of value on having a stress-free life, then even a single contractor can be too much, let alone an entire team of full-time employees.

I guess if you don't care about becoming a billionaire, you can still do pretty well as a solopreneur as long as you use the right tools and business models.

A blogger can easily run his blog by himself whether he makes $1,000 a month or $100,000 a month. A guy producing video courses can do that, too. A person providing comprehensive web services to businesses? Not really, unless he becomes a high-paid consultant or willingly chooses to stay small.
 

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Must Read Books...

Explore books recommended by MJ DeMarco and other members of the Fastlane entrepreneurial community.
Fastlane Bookstore
Top