How To Start A 7-Figure Business With No Employees

no employees, solopreneur, entrepreneur, capitalism

Can you build a successful business with no employees?

When we think of successful businesses, we often think of sprawling megacorps like Apple, Amazon, and Google. They have armies of employees, with a massive international presence, and impact the entire planet.

But you can be successful too, without hiring a single employee.

How can this be?

Well, we’re privileged to live in a world that has eliminated many of the frictions that plagued businesses in the past.

Marketing meant spending lots of money on newspaper/TV/radio ads and hoping they would work. Now you can use a fraction of that money for microtargeted online ads.

Getting help with your business meant finding, at the very least, a contractor living in or near your city of residence. Now you can harness online freelancer platforms like Upwork to tap into a global market of contractor help.

Once you came up with a viable product, you needed to coordinate with a variety of retailers to reach the marketplace. Now you can engage with massive platforms like Amazon who facilitate the sale of vast quantities of physical products.

How to Set Up A No Employees Business

What’s the best approach for starting up a zero-employee business?

You need to begin with the end in mind. What type of lifestyle do you want to have when your work is done for the day?

Do you want to work face-to-face with people in a big city? Then consider targeting an underserved service niche there, to get recurring clients.

Do you want to travel the world and enjoy writing? You could build up a business as a marketing consultant, traveling around the world, with your “office” being any computer with Internet access.

Are you a homebody who enjoys being creative? Perhaps you could start a custom jewelry line, taking specific orders from clients, crafting unique items from the comfort of your home studio.

The possibilities are endless.

Be Prudent; Don’t Take On Too Much

When it’s easier than ever to start a business and scale it to seven-figures, it’s easier than ever to take on financial risk.

Do you have savings set aside, or another income stream to draw on while you build your business? If you don’t, then you are taking on a lot of personal risk if the business fails.

If you have a spouse and children, you would be imposing that risk on them. You need to ensure that you can meet your responsibilities to your loved ones while pursuing this entrepreneurial dream.

Even Businesses With No Employees Make A Big Difference

Entrepreneurs matter.

Businesses, no matter how big or small, create a tax stream that helps pay for the public services and infrastructure we need for a healthy society.

Even a zero-employee company creates work for others; the custom jewelry maker purchases raw materials made by a supplier, the marketing consultant creates a demand for graphic designers, and so on.

People following their passions test out the viability of new ideas that can lead to progress in society.

While you chase your dreams, keep in mind how valuable your contribution is to society.

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Find out more about Elaine at http://elainepofeldt.com/

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