Out of more than 28 million small businesses in the United States, 23 million of them are non-employers, meaning that no one has a job there except the owners. This kind of business owner chooses the freedom of the hustle instead of going to clock in for a 9-to-5 job, might wake up every morning terrified of being unsuccessful and broke but still prefers being motivated by that fear over returning to a stable, regular job. These business people are responsible for their own income and while they make enough to support themselves, they haven’t yet taken on the responsibility of having someone else work for them and having to guarantee their paycheck too. And there’s nothing wrong with that lifestyle.
The US economy, however, isn’t totally supportive of this kind of business plan. Those who are independently employed have problems like:
- the constant pressure to make enough money to ensure a safety net
- while they pay taxes, they are usually not eligible for unemployment during a period of downturn, a benefit that is available to almost every other type of taxpayer
- health care is so expensive, it’s tempting to skip that business deduction, a choice that’s often riskier than the reward
- this kind of business owner might have difficulty accessing loans because it is often difficult to prove the consistency of income
Despite this list of cons, The Million-Dollar, One-Person Business book advocates for the single-employee business and seeks to share the pros of going into business for yourself, by yourself.
I enjoyed the experience of reading this book. The book itself is an anomaly – a naked hardcover with print even on the inside end papers. I liked the cover design which is a big number 1 with what looked like a million dots raining down alongside it. The final product that is this book made a great first impression on me.
The author introduced many solo business owners who have stories that sound like mine, and maybe yours, so she made the million-dollar, one-person idea sound like a revolution that you feel inclined to join. It might be a testament to the author’s background as a English student, because she really told an engaging story.
The main reason I liked this book is the limitation implicit in the author’s thesis statement. She doesn’t talk about multi-million dollar companies. In fact, over and over she states that some entrepreneurs don’t even want to make a million dollars because they don’t want to sacrifice some of the things they would have to give up to scale their business to that level of productivity. The book is about finding and applying the concepts that will allow you to run the business you want, to support the lifestyle that is most attractive to you. Some of the business owners that appear on these pages scale up a side project until it is just big enough to allow them money and time off to travel, but then they reject the venture capitalists who offer to make their businesses more successful. The book offers not just business tips but also advice on how to stay true to your evolving goals and how to reassess to manage your changing finances if growth stalls.
I really enjoyed this book and recommend it to others who are interested in the entrepreneurial lifestyle.
- Title: The Million-Dollar, One-Person Business: Make Great Money. Work the Way You Like. Have the Life You Want.
- Author: Elaine Pofeldt
- Format: Hardcover
- Pages: 212
I received a free copy of this book from Blogging For Books in order to complete this review but this did not at all influence my opinions. I chose Million-Dollar, One-Person Business because I have a genuine interest in entrepreneurship and read everything I can on the topic. This is one of the better books I’ve read of this genre.
This post also contains affiliate links, which, if you click and make a purchase, I make a small commission to fund my book buying tendencies. Thanks a million!