(TSE #04) - The Secret Ingredient to a Killer One-Person Business

There are plenty of people providing information and insights about how to build your own One-Person Business (1PB).

The idea is simple – focus on one skill you have or could quickly acquire as your area of expertise, and then share that with an audience in a way that helps people to solve an immediate and urgent problem. The solution you provide can be a digital product, such as an online course, or personalised consulting or coaching services offered on a one-to-one or group basis.

I know how lucrative and profitable this can be and discussed my experience in last week’s newsletter “4 Lessons I Learned from $424,239 in Online Course Sales in 12 Months” .

How do you successfully execute on a 1PB?

There are so many opinions and perspectives on how to build a 1PB, however, common themes that arise are:

• How to build a business in the Creator Economy
• How to build a ‘niche of one’
• How to monetize your expertise online and build a lifestyle cashflow engine
• What tech stack you need to get started
• How to grow and engage an audience
• Content creation strategies
• Relationship building in the digital age

But in all this very useful information there is often something missing – consideration of the reason or the “why” behind a person wanting to start a 1PB.

For many people, trying to identify their “why” or purpose in life is almost impossible without some kind of assistance.

The reason?Simon Sinek’s book “Start with Why”?is so popular is because it helps people to better understand the importance their motivations have in determining their decision-making and actions, both of which have a direct and enormous impact on the quality of life they lead. However, Start with Why does not provide a framework for how to go about finding your why, or purpose in life.

The Decision-making Operating System (DOS)

It is critical to have a high-quality decision-making process to guide how you operate as you build your 1PB or there is a real danger you will drift and not have enough focus to generate an adequate and sustainable living.

I know this from first-hand experience. When I started my journey from “Corporate Captive” to “The Sensible Entrepreneur”, the framework I used for decision-making was flawed, skewed towards selfishness, and misguided in its purpose behind why I wanted to become self-employed.

For many years, I struggled financially and emotionally, and it almost cost me everything – my career, my future, and my life. It wasn’t until after years of trial and error, and the support of my wife and friends, that I was able to finally build a framework that enabled me to elevate my personal impact and income.

Being self-employed Is hard.?Discipline, which is a key component of success, is also hard for many people. Having a framework avoids decision fatigue that can arise when you don’t have a structured way to make decisions.

Why did Steve Jobs were the same outfit all the time? So, he had one less decision to make each morning.

Decision fatigue?is real. It can literally mean the diffidence between success and failure in many businesses.

The Secret Ingredient

Remember, a 1PB must be able to generate enough revenue for you to meet your living requirements, whatever they might be. Being self-employed but a starving artist may be heroic, but it’s not fun – I can vouch for that. I remember when I was 32 years of age and had $2.37 in my bank and no source of income.

I was able to climb back from this financial low point, and other personal challenges, because of the framework I discovered that I call?“The 7 Circles of Highly Impactful People”.

The “7 Circles” is a?codified framework based on the lessons I have learned?through my own journey of failures, struggles, epiphanies, and successes.

This?framework is my secret ingredient?when it comes to designing my life with intention and creating outcomes aligned with my personal values, goals, and vision of my future self.

The ‘The 7 Circles of Highly Impactful People’ is comprised of:

• Circle 1 – Start with Self
• Circle 2 – Mind the G.A.P.
• Circle 3 – Motivate your Intention through Values
• Circle 4 – Embrace the ‘F5’ lens
• Circle 5 – Create your own L.U.C.K.E.
• Circle 6 – The Power of the Thought-Emotion Loop
• Circle 7 – Mindset Mastery (Personal Impact Zone)

These circles are interrelated. They are not mutually exclusive. You must succeed in all to truly succeed in one.

The?7 Circles?help drive personal development through:

1. Self-Discovery?– this process involves continual self-reflection through a lens of gratitude, refinement of personal values, and a focus on core life pillars.

2. Self-Mastery?– is a continuous journey, not a destination. It’s an evolutionary process based on understanding your own inherent internal “resistance triggers” and limiting beliefs that underpin your thinking. Self-mastery involves using tools and practices that overcome mental blockages and self-sabotage actions to build and reinforce new and empowering beliefs.

3. Mindset Mastery (Amplify your Impact)?– involves understanding who you are and, importantly, who you are not. Design a life centred on who you want to be as a person – your future self. Find your voice around issues and ideas you care about and share them with an audience who also cares about them. Through perseverance and perspective, this has enabled me to elevate my impact and meaning in life through service to others, which ultimately has led to a level of income, autonomy, and lifestyle that aligns with my ideal “life vision”.

By mastering the 7 Circles and conquering these 3 areas of personal development, you can also?overcome any issues you have with procrastination, avoidance, or fear of taking action.

Summary

By sharing my story and the lessons I have learned through the ‘7 Circles’ framework, I want to help others avoid the years of failures, personal setbacks, and financial struggles I endured.

If you implement this framework into your life and use it as a master tool to develop your own?Decision-making Operating System (DOS),?you will quickly see positive, life-changing outcomes that align with your personal values, goals, and vision of your future self.

The?7 Circles of Highly Impactful People?enables you to take control of your life based on internal factors and to move past the negative influence external factors may have had on your actions in the past.

If this article resonates with you, please feel free to DM me or [email protected]?to have a chat about how you can unlock your exceptional potential using the ‘7 Circles’ framework so you can create the ideal balance of impact, income, and purpose in your life through service to others.

See you next week.

You can read more articles like this at https://joelronchi.me/newsletter/