• Sipping my coffee

The Million Dollar One Person Business: 3 Tips to Make It Real?

Diperbarui: Apr 25


My ideal Company of One

2019 was my turning point to decide what kind of business I want – it’s a minimalist business, a company of one. Sebenarnya ReBrew, only consists of 3 personnel. It is already a micro business. Tapi that decision membawa arah baru, target baru or a new pivot. Ketika scaling up dengan menambah employee, menambah kapasitas dan modal yang besar, konsinyasi di banyak tempat bukan opsi yang saya mau, maka bisnis ini harus direstrukturisasi. However, I have to say, as much as I want a Company of One, I was a bit lost in executing it.


With regard to company of one idealism and the limited resources we had, saya memutusan untuk hanya accept jual putus. We don’t accept consignment agreement yang memerlukan resources untuk checking dari toko ke toko – apalagi kalo tokonya di luar Jakarta. I also focus on best seller items – which apparently all handmade stuff. I cut product collection yang turnover nya rendah, menyisakan hanya 3 items plus some other handmade items. On the other side, I received more requests to deliver DIY workshop for coffee shops, café, hotel.

What happened next? Saya Lelah… it’s very tiring when “one” person run everything from producing items, selling the products, delivering workshop – not to mention all the backstage activities such as handling social media, meeting with potential customers, etc.


I found a book called “The Million Dollar One Person Business: Make Great Money; Work the Way You Like: Have the Life You Want”. Buku ini menyajikan blueprint on how to start and run million-dollar one-person business. What to do for Company of One yang bisa menghasilkan million dollar? Disebutkan ada 6 business categories yang bisa di-explore:


  • E-commerce (marketplace, dropship, webstore)

  • Manufacturing (it means outsource the production aka maklon and not DIY)

  • Informational Content Creation (disarankan to enable technology to deliver it and not offline delivery)

  • Professional services and creative businesses (marketing, social media agency, graphic designer, interior designer)

  • Personal services firms (coach, personal trainer)

  • Real estate


Nah, no matter which business we are in (atau interested in), how to make this million-dollar one-person business happen? Penulis buku ini, Elaine Pofeldt menuliskannya di artikel tentang small business tentang 3 tips to run this type of business


Automate

Use app or software to automate some of our work. I’m so lacking on this one. Email masih berantakan, tidak ada customer service app dan belum ada app/software to generate invoice ataupun customer data collection yang otomatis. Everything is still manual. The only thing I set for automate adalah pasang iklan di marketplace - which maybe it’s not right to do. And in my opinion, jualan di marketplace itu semi automate our business – meskipun ada pendapat yang menyarankan untuk tidak rely on marketplace but built our own webstore.


Outsource/Freelance

Here I outsource urusan keuangan ke pihak ke 3, dan sejak dari awal I outsource brand design, booth design, sampai event management (or called it workshop management) dan urusan legal. I tempted to outsource marketing, selling activities to other party, sampai akhirnya saya baca buku yang menyarankan untuk run ourselves for marketing, particularly selling at the beginning, supaya mengenal pasar dan building the rapport with customers.


Low cost marketing

Low cost marketing means doing low cost advertising via social media dan email building activities. I have to discipline myself to run these marketing activities – uhm maybe I can automate or outsource some (not all) activities. However, pasang iklan di social media, google, tidaklah murah dengan persaingan marketing budget dari banyak pemain di industry yang sama (baik big and small players). We do selected pop up market dan kelas workshop sebagai bagian dari low cost marketing activities. However, we might have to switch to digital platform soon to reduce cost and resources tho


Buku ini menyajikan “how to” yang cukup lengkap for beginner – dan mencakup beberapa issue yang crucial such as how to get the funding untuk memulai dan menjalankan company of one. However, there are some issues yang perlu di-highlight lebih lanjut, such as “manufacture” – yes we do this but it doesn’t come as cheap as we imagine for personal care industry. Issue legal tidak dibahas, bisa jadi karena every country has its own regulation. In fact beberapa industries are heavily regulated yang impactnya ke biaya.


Dengan perkembangan teknologi, I’m sure this 2020 I can manage to pivot to million business one person business, to pivot from manufacturing to on e-commerce and informational content creation Stay tune, as I will record my journey in this blog



Thank you for reading this "The Million Dollar One Person Business: 3 Tips to Make It Real". I hope you love and enjoy this post. If you do, please share with other and sign up here



#minimalistbusiness #companyofone #onepersonbusiness #minimalistliving #bookreview #themilliondollaronepersonbusiness #simplifybusiness #creatingaminimalistbusiness #solopreneur #introvertedbusiness

About Me

This blog is written by an introvert. It is all about creating a road map of having a simple life, business and travel for fellow introvert. I write my blog while sipping my daily intake of sanity and you can enjoy my blog while sipping your coffee, too

 

Read More

 

Disclaimer

I am not a chemist, pharmacist, nutritionist, dietician or skincare expert. This blog is intended to share information. It should not be used as medical advice. DIY and recipes in this blog are based on my personal experiences. Those shared recipes haven't been tested in a lab. Please use information provided in this blog wisely.

 

 

© 2023 by Sipping My Coffee

  • White Instagram Icon