How Solopreneurs Can Outcompete Teams - and Build a 7-figure Business

Summary

An exciting trend is starting to emerge in the world of small business: There are more and more one-person millionaire businesses in almost every corner of the economy. Thanks to the study, coaching and mentoring I have been doing with these people over the years, I have learned several lessons about marketing and operations that I share with you in this video.

Transcript

One of the most exciting trends in the small business world is the rise of 1,000,001 person businesses that get more done and get better results that logger teams, I've worked with a few doses of them. And this is what I have learned that they do differently, to outcompete larger teams, and more importantly, command premium results. Let's get to it.

[INTRO] Hey, I'm Leon Castillo founder of Selfmastered a high performance training company that helps entrepreneurs scale their businesses by solving their solid bottleneck, their own performance, will transform the unproductive, overwhelming and focus entrepreneurs into laser focused business athletes that can achieve in one day, what they previously achieved in one week.

So today, I want to talk about something that I think is pretty cool, which is the million dollar one person businesses, which in the US Census to call us non employer firms, right? So firms that have no employees, they can still use contractors or have some sort of help. But normally there's only one person leading the business making all the decision and doing most of the work. So as you might imagine, they're crazy effective, and a profit per employee is you guessed it, 100%. Right. So I'm very fascinated about it. Because I as a performance trainer, coach and consultant for small businesses, I find myself studying them as much as I can and trying to work with them, and essentially also taking people from five to six figures to seven figures, right. So oftentimes, they will do that alone, or oftentimes they will hire people. But in any case, we always teach the things that we learn from those high caliber solopreneurs.

Now, how many of them are they? Well, based on the US Census, there are about 40,000 of them, and they are found in nearly every corner of the economy, right. So they can sell high ticket, they can sell low ticket digital products, physical products, services, there's really no cookie cutter approach to building a 1,000,001 person business. What there are, though, are key principles that if you apply them in your business, you will most certainly have a surge in results. And who knows, maybe you will finally clear that seven figure mark that you've been wanting to clear for quite some time. So here they are.

But before we get into that, you know what I'm gonna say Right? Like, subscribe and hit the bell. And more importantly, share this with someone that you think may benefit because as you might imagine business all about service. And the more we serve, the better results, we will be able to get to people that need our content. So thanks for sharing.

You know, the five principles that I've noticed time and time again, especially lately, that doesn't mean that the only thing that they do, right, but this is the things that truly, truly do differently, which in my view, are the basis of the success of this $1,000,001 businesses one, focus on a niche within a niche within another niche. What I'm trying to say is that get as specific and granular as you can in your products or services, because the more specific you are, the better prices, you'll be able to come in.

As a practical example, a dog trainer can charge way less than a chihuahua dog trainer, which in turn can charge less than a under two year old Chihuahua, Mexican breed trainer, I just made that up. But the point is that someone who has Mexican breed Chihuahua and a two year old will definitely hire that person instead of a general dog trainer. And this thinking this framework applies to everything, right? From what I've seen, from our research, in my experience, essentially, they do one thing and one thing very well, ideally selling one product or just as few products as possible, or just selling one service, but doing it so well with such a high quality standard with such an incredible return on investment for the clients that they become a category on their own. They design a category and they own it. So instead of being dog trainers, they're young Chihuahua cubs, Mexican breed trainers, the more specific you can go, the better you'll be able to carve out a space in the market and make it work for yourself this especially true for technology.

I've worked with people that have the best working chromis extension for x. And since they really are the go to product for that specific function. They do millions a year, right. So that's number one, two, they are masters at peak performance in business.

In other words, they align their strategy and the execution so there's no time waste at all. This is so important. This is what we help our clients do though solopreneurs that are making seven figures. What they have is a very clear strategy and what it is that they're doing, they know what they're doing the long term and in the short term and the execute with ferocity on the short term things in order to get to the long term vision there. There's no waste of time and potential, they're not doing things that don't align with the rules. They're not working on products that are not their core offerings. They're just not entertaining ideas that are not aligned with the idea that the building for themselves. And this is where most people fail. Because it is very easy to think that the grass is greener outside of of your own yard. And that's not true, the grass is greener, whatever you water it best, that's something for us to very well. So focus on the macro understanding exactly what it is that they need to do, and only do that to the best of their ability, which leads me to number three, and this is crucial, mastering their performance, right, which is also something we help our clients do.

So when someone is making seven figures as a solopreneur, irrespective of the fact that they may have a few contracts or helping here and there to do the things that they're not very good at, they are offering to potential and how do we achieve this? Well, by mastering their physiology, right, so how they sleep, how they eat, how they nourish themselves, what movement they do, how much and how well do they meditate, but also, what is their emotional management? What is their spiritual management, right? Spiritual management? Is everything related to their motivation, how they show up every day, how consistent they are able to become how do they deliver how much enthusiasm they bring every day? And of course, mental? How can they maximize mental performance? How can they focus for up to 10 hours every day? How can they show up at their best every single day and remain at their best, right? Because performance is about getting there. But most importantly, staying right? So this is to me is is very obvious, right?

So once you know that your product is premium, that you have a very clear idea of what it is that you're doing and what value you bring to the marketplace. And you also have a strategy and execution protocols that are perfectly aligned. So you never waste time on things you shouldn't be wasting time on then comes becoming your best operating potential, be able to do in one quarter what other people did in one year. And that's perfectly possible. In fact, that's what we help people for. And this one is massive, using personal operating system and business operating system to guide decision making. So once you know what you're doing, once you know what the strategy execution, once you know how to perform at your peak, you need to automate as much as you can. And how do you do that by creating a personal operating system and a business operating system that guides your decision making.

So you do not waste time thinking What should I do now to be at my best now that you know what you should be doing, because you've done it time and time again, you know, for instance, very clear example, on the personal side, you know that if you have fast food on during the lunchtime, then you're not going to perform in the afternoon in the evening as you should, but you have some sort of a smoothie or performance inducing lunch, you will perform better. So solopreneurs that are queuing seven figures, they know exactly how to deal with this.

They know which tasks to automate which contractors to hire, how to make sure they do not work outside of their zone of genius. And on the performance side, how to automate their sleeping habits, their movement habits, the mental habits to be at their best. So they do not need to think anything outside of how to best serve my clients. This one is huge guys. So if you do not have some sort of personal operating system and business operating system, I highly encourage you to work on that. If you need help you know where to find us. But and in any case, find someone that can give this to you, or work on this yourself. And five and this one is huge is work for the long term. What does that mean? It means that if you're essentially delivering a service that is high quality, so it's expensive, you have your own niche and you're playing the long game, you're essentially willing to build relationship with everybody around you or your clients, with your vendors with your contractors, you are not in business for a quick buck.

Money is not your core motivation is service and solopreneurs that makes seven figures. They really truly believe in service, at least those that I've had the chance to talk to and mentor and coach, right. They truly think of their craft, whatever their craft is has their calling. They're constantly refining their service to provide even more value for a longer timeframe to high quality people. And if you do this long enough, that eventually becomes your own mode, your own competitive advantage having been the number one Chihuahua trainer for Mexican breed chihuahuas on a two year old in the world, and you can charge I don't know 25,000 per Chihuahua. I don't know the point is that you truly are the number one if that. And that's why I believe that everybody should be playing the long game obviously, but seven figures will appear is especially good at this and this may be coincidental, but I have never seen a seven figure solopreneur bragging about how much money they make or how many cars they have. That's for someone else. Why? Because I truly think and that's that's my perception that they believe in puppets and service over bragging. In fact, most seven figures are produced to like to brag at all. They don't have that much of their social media presence, they truly are reclusive because they provide a lot of value to a few core individuals that are able willing to pay for that. And they think of themselves as service providers of the utmost quality, not necessarily of someone who needs to use social media to get more clients because they're playing the long. So I hope this was useful. These are five things that you have to apply in your business if you want to get better results. If you want to get to seven figures, you definitely should look into this if you don't feel you are doing it. So one being ultra specific about what it is that you're selling a niche within a niche within a niche. Whatever the niches and whatever that service or product you're selling to absolutely performance in business, what means strategy and execution must be perfectly aligned to avoid entropy and to end time wasters.

Three performance personal performance must be on point treat yourself as a business athlete so you can perform like a team of five for half personal and business operating system that automate this right use technology in your business to automate most of your tasks systematize everything that you do so that you don't need to think about how can I best eat or how can I best work for maximum results you should know that already and just do it and five and this one is huge play the long game. It is extremely important that you become the go to person in your niche within a niche within a niche which means having premium relationship with everybody clients, vendors, contractors, suppliers, everyone. I hope this was useful. Please let me know in the comments if you learned anything.