What are some businesses that one person can operate that can potentially generate 100k a year salary/profit?
Check out the answer at Quora HERE.
It sounds like your motivation is just to be FREE as your own boss and still make enough to enjoy your life. Am I right? This was my focus when I was a salary slave not long ago. Fortunately… I quit my job to help you quit yours!
I promise I’ll give some specific business ideas, but first I just want to plant a thought in your head: No matter what your business is, it is usually advantageous to have a team, even a small or part-time one. The main reason for this is so that you can focus on your STRENGTHS!
This is also my key advice to what kind of a business you decide to run. The business guru Peter Drucker said that we must always start with our strengths. Identifying them is hard for most people, but if you do this, your chance of success skyrockets.
But that’s more of a “macro” mindset. A specific, “micro” example of my point here is your taxes. (Of course I go here, being a finance guy.) If you make $200 /hr, and your taxes take you 5 hours, or you could may someone $400 /hr to do them in 1 hour, then you should have them do it and just make the extra $600, unless you really like doing your own taxes…
My point here is that you must value your time. And that leads into the simplest kind of business that one person can operate and make good money: Become an expert consultant.
- Develop a niche – Don’t be a generalist like a “tax consultant.” Instead, be a specialist like a “US LLC real estate business deduction expert.” Specialists charge more, and it’s easier to market, because your customers know you’re the right person for them.
- Leverage your experience – You can take your current education, work experience, even hobbies and passions, and position yourself as an expert in that area.
- Focus on your market – Identify what problem your market is having, and focus their attention on the solution that you have for them. Don’t talk about how you’re the expert on LLC real estate businesses. Talk about how you can save them 3% taxable income per year.
Here are some specific ventures I recommend you look at (trying to be humble, I save my company for last):
- Sam Ovens is a consultant who helps other consultants and coaches get high-ticket clients. I took a course from him that taught all about packaging your services into a product with a defined outcome. He also teaches how to market and sell these packages. If you like the idea of doing a lot of one-on-one consulting, his website is here.
- Tai Lopez is a social media genius and very successful entrepreneur. I’ve learned a lot from him. He has a very specific program for people to learn how to manage a company’s social media marketing campaigns. I haven’t taken this specific program, but I love his stuff in general. If you like the idea of selling this specific service, find the program here.
- Steve Buller (that’s me) teaches people how to build online businesses through knowledge products. My brand, I quit my job to help you quit yours, shows you how to start making money on day 1 using affiliate marketing. Then, it shows you how to build a business for the long-term by identifying your niche, establishing yourself as an expert, and building products that solve your markets’ problems. If you like the idea of creating content on your area of expertise, I talk more about this in my #1 best-selling book.
I hope this was useful! I like that you’re focused on getting the financial freedom to enjoy your life. Seriously, that’s why I quit my job to help you quit yours.
Not to overwhelm, but if the idea of establishing yourself as an expert is appealing to you, one of the best ways to do this is to publish a best-selling book. We teach how to do this in our Start To Success Membership.