9 One-Person Businesses Making 6 Figures

Hey,

This is Pat, founder of Starter Story — And I'm super excited to share with you this newsletter about one-person businesses. Something that I've been obsessed about lately.

But first, I wanted to give a warm welcome to the 1.419 people who joined us since our last newsletter. To anyone reading this, your support means a lot! I hope you enjoy reading our content as much as we enjoy creating it.

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And now, let's get a coffee and dive in: 

9 One-Person Businesses Making 6 Figures

Did you know that one-person businesses are on the rise?

I’ve been obsessed with this topic lately, and I’ve done a few videos on my Youtube channel and also launched a report with 102 solopreneur businesses.

Stat #1: Over 41 million Americans currently operate their own solo enterprises. And the number keeps growing every year. 

Stat #2: Solo founders are more likely to succeed than those with multiple partners (study).

So what if starting solo was actually a strength?

Plus, it has plenty of benefits. 

You can make quicker decisions, you set the company’s culture, and you own 100% of it.

If you have been mulling over the idea for some time now and are not sure what type of business you could start on your own and how you would actually set up and run the whole thing, here are some real-life examples that will help you to clear all your doubts.

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$1.2M/year working 5 hours per week

When Graham was laid off from a finance startup that ran out of money, things got so bad he had to rely on Food Stamps. 

To turn things around, he started doing two things: freelancing whenever he could and creating content. Content quickly picked up, so he decided to start monetizing with a product that requires very little maintenance and allows him to enjoy quality time with his family.

$960K/year as an Amazon consultant

This founder started selling stuff on Amazon on the side while being employed at a Fortune 500 company. Something that will allow him to live his dream of traveling while earning money online. 

Once he found some success, he realized he could also monetize that experience by guiding others. Something that has grown into a 7-figure business.

$2M/year helping people create better social media content

An extremely stressful life in the corporate world led this founder to resign from a very well-paid job and start a consulting business where he could create a business that allowed him to enjoy life more. 

He started by simply consistently creating digital content every day and has been moving forward ever since, releasing courses, building a massive following, and doubling down on his solopreneurship efforts.

$720K/year making language learning easier

A poor experience while trying to find a good language tutor sparked this founder’s idea of creating a better solution to provide people with a better experience. Even without coding skills, he was able to set something quickly and started generating revenue almost immediately. 

$252K/year clothing brand (without previous experience)

The idea for a prep brand came to Miriam while she was attending her alma mater during Law school, and happened to notice tacky-looking ties that were worn by the students. 

Shocked to see they were made by reputed brands, she did some research and was instantly connected with the idea, even without a background in fashion.

$216K/year Uber for wooden pallets

John’s former business partner was who initially suggested the idea to pick up pallets and sell them. They found a place that was getting rid of pallets 8 blocks away and was giving 2,000 pallets for free. At the time, the Pallet yard would give you about $2 per pallet. 

Instead of trying to grow that model, he realized he could maximize the profit by finding actual buyers rather than selling to a Pallet Yard.

$168K/year paternity leave side project

Dabbling in AI while on paternity leave, David began asking OpenAI Excel formula questions. His job being in data and analytics, and Excel was a widely used tool by him.

As he made the questions harder, the accuracy of AI kept going down, and seeing no solutions to make that right on the internet, he knew he had something special to work on.

$120K/year web design and marketing courses

Shannon experienced a panic attack at her job and decided to start a freelance web design business on the side (as that is what she actually loved about her job).

Eventually, she launched her free 5-day website challenge, which kept reiterating over and over, still while working in her job up until the point it didn't make any sense to keep doing both.

$1M/year selling digital products on a Shopify store

An awesome case study of someone leveraging his professional experience to create something that could be sold infinite times.

This is a great reminder that all your knowledge can be turned into a digital product of some kind.

In conclusion, whether you're driven by the desire for independence, the pursuit of your passions, or the chance to create something truly unique; there has never been a better time to embark on your solo entrepreneurial journey.

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Think about how much more you could accomplish if you had a skilled virtual assistant (or several!) to get work done for you. 

Virtual Gurus does the vetting and matches you with the support you need to scale your business. 

From admin tasks to social media, to sales support, and more, you can get peace of mind knowing that top-tier virtual assistants have got you covered.

Don’t let limited resources hinder your path to success - book a free consult to get started today.

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Quick Hitters

(1) How an Upwork freelancer built a $500K/year business. From translation gigs to managing 10 full-time employees. A great example of how lucrative productizing a service can be; a business model that I've also been obsessed about lately.

(2) Making 6 figures as a sleep coach. Unconventional businesses can be extremely lucrative, and they often have a great upside: lower competition. Proving that no business idea is a bad idea. You just need to find a target market experiencing a problem and provide them with a valuable solution.