You can build a
million-dollar, one-person business around a passion that only ten people on
the planet share, unless you have achieved such elite status in your niche that
people will be willing to pay you very high prices.
Most solo business
owners do almost everything themselves. There's nothing inherently wrong with
being hands-on if you love the work you're doing, but that approach won't get
you to $1 million in revenue. What will help
you break into the seven figures is to expand your capacity beyond what one
person can do.
As many
entrepreneurs on tight budgets discover, professionals who have expertise at
what they do often take far less time to accomplish a goal than a novice who
charges a rock-bottom hourly rate.
Running a
million-dollar, one-person business isn't about toiling for long hours. Unlike in a traditional job, where your pay
may be closely tied to the hours you put in, your own business income stems
from how smart and selective you are about how you use your time.
