Forbes.com: How Bold Entrepreneurs Are Breaking $1 Million In One-Person Businesses

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Elaine Pofeldt
Contributor

Walton is part of an exciting trend in the U.S economy: the growth of ultra-lean businesses that are hitting and exceeding $1 million in revenue at a stage when they have no employees other than the owners.

According to new statistics released by the U.S. Census Bureau, there were 30,174 "nonemployer" firms that brought in $1 million to $2,499,999 in 2013. That's up from 29,494 in 2012 and 26,744 in 2011.
Some of these million-dollar businesses are inspired by writers such as outsourcing guru Tim Ferriss, author of The 4-Hour Workweek, and MJ DeMarco, author of The Millionaire Fastlane--whose book on entrepreneurship Walton says changed his life.

"It trains you to shift the way your brain thinks from a consumer mindset--"I'm going to spend all this money I don't have" -- to a producer mindset, where you provide value to other people and in return become valuable," he says.
An interesting read.

How Bold Entrepreneurs Are Breaking $1 Million In One-Person Businesses - Forbes


Joe Mobley
  • Profile picture of the author Zodiax
    I know this is presumptuous and arrogant but I don't care.

    Making $1,000,000 is annual profits is a joke these days.
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    • Profile picture of the author Lance K
      Interesting, I'll take a look at it. I'm all for people running their businesses as they see fit, having a lifestyle business, etc. However, I'm more intrigued when small businesses create jobs and help boost the economy. But I'm sure I'll enjoy the read. Thanks for sharing.
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      "You can have everything in life you want if you will just help enough other people get what they want."
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      • Profile picture of the author tagiscom
        Yes, interesting but this is the minority of startups!

        I have read the Rich Dad, Poor Dad series of books, which probably covers what the security camera guy was saying.

        Instead of earning $250 and using it to go buy the latest iphone contract, or get more into dept, use or invest it into something that creates more wealth instead!

        Then use the profits from that for the iphone.


        Although l tend to keep my costs low, and invest in the flyer business, then reinvest the profits back in!

        But one day when the business is so built up that l can't reinvest, then l guess that l will have to spend it, sigh!

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    • Profile picture of the author butters
      Originally Posted by Zodiax View Post

      I know this is presumptuous and arrogant but I don't care.

      Making $1,000,000 is annual profits is a joke these days.
      1 million a year is a joke... Curious, what do you earn...
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      • Profile picture of the author The Niche Man
        Interesting read. Every "one man" (or one woman) business may not aspire or even believe it's possible to earn one million dollars as some has said in this thread. One thing for sure, it's a sign everyone will have to step up their game.

        It's not like a few exceptions exist, there's over 30,000 such cases and rising. One million dollars a year is not the rule, be it's no longer the exception either.

        That means you'll have to be more productive just to stay even, in more cases.
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    • Profile picture of the author The Niche Man
      Originally Posted by Zodiax View Post


      Making $1,000,000 is annual profits is a joke these days.
      Yea, 30,000 one man business owners (according to Forbes) is laughing all the way to the bank.

      I'd like to get in on that joke, wouldn't you?
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      "Because The Easiest Way To Make Money is ... ... By Saving Some First!"
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    • Profile picture of the author Rod Cortez
      Originally Posted by Zodiax View Post

      I know this is presumptuous and arrogant but I don't care.

      Making $1,000,000 is annual profits is a joke these days.
      What an asinine comment if I ever read one. Of course you don't care because that's your character.

      A million dollars in annual profits is no joke. I'm sure the people profiled in that article worked their asses off to make that figure and I'm more than certain it pays more than a few bills.

      It's not about how much money you make, but it's about lifestyle and freedom, and for the average person, a million in revenue affords them such.

      It's not about being arrogant, it's about being disrespectful to the people who work their asses off to make that million in revenue.

      RoD
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      • Profile picture of the author tagiscom
        Originally Posted by Rod Cortez View Post

        What an asinine comment if I ever read one. Of course you don't care because that's your character.

        A million dollars in annual profits is no joke. I'm sure the people profiled in that article worked their asses off to make that figure and I'm more than certain it pays more than a few bills.

        It's not about how much money you make, but it's about lifestyle and freedom, and for the average person, a million in revenue affords them such.

        It's not about being arrogant, it's about being disrespectful to the people who work their asses off to make that million in revenue.

        RoD
        True, they tell about one man startups, but not how long it took them?

        The area l am working in has about 30 millionaires and plenty more that have earned half a million, etc.

        Mainly because they worked their tails off for 4 or more years.

        Luck plays a small part, but anyone doing graphic products will eventually do something that sells well, then figures out how to do more?

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