Essential Questions for Building a Successful Solo Business
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Chapter 1: The Importance of Asking the Right Questions
Asking the right questions can often be more valuable than the best advice. While advice may be unreliable and context-dependent, insightful questions have lasting relevance and can be adapted to various situations. Here are some essential inquiries to assist you in establishing a successful one-person business.
Section 1.1: Evaluating the Longevity of Your Efforts
One of the first considerations is: How long will this work be relevant?
I have moved away from engaging in one-off speaking events, particularly at schools and universities. These engagements consume considerable time, often don’t allow for recordings, and usually involve fewer than 100 attendees, many of whom are only partially engaged with the content. My guiding principle is: "If I can't leverage it, I won't take it on."
In a solo business, you should strive for outcomes that multiply your efforts, akin to the equation 1+1 = 3. With limited time, energy, and resources, it's crucial to ensure that today's tasks set the stage for tomorrow's leverage.
Section 1.2: Understanding Energy Investment
Another vital question is: How much energy will this require from me?
I no longer gauge activities by the time they consume. Instead, I focus on the types of interactions and engagements that either replenish or drain my energy. For instance, I can spend two hours immersed in reading and emerge feeling invigorated, while an hour spent in a bar can leave me completely exhausted.
Certain conversations energize me to the point where I feel unstoppable, while brief interactions with others can sap my energy for a considerable time. Being sensitive to my energy levels and the environments I engage in is paramount—it's essential to safeguard your peace.
Section 1.3: Assessing Long-term Collaborations
A key question to ask yourself is: Will these individuals be at my funeral?
We all know those who talk a big game but fail to deliver when it counts. They can be a source of frustration, wasting time and energy. I have learned to distance myself from such individuals. If I provide constructive feedback and see no change, I gradually reduce my interactions—delaying responses, avoiding calls, and declining meetings.
I prefer to collaborate with individuals I can envision working alongside for a decade or more. Otherwise, the potential for cumulative growth and success diminishes.
Section 1.4: Seeking Quick Learning Opportunities
A critical inquiry is: Who can teach me this quickly?
In the realm of business, speed and timing are crucial for effective learning. I’ve cultivated a network of experts I can reach out to for a quick crash course on any topic within a couple of hours. Given the overwhelming amount of information available, trying to master everything beforehand is impractical, and knowledge without application fades quickly.
By moving swiftly and identifying my knowledge gaps, I can tap into the right resources at the right time to take effective action. Prioritize actionable insights and embrace 'just-in-time' learning.
Summary:
These questions can save you countless hours and significantly enhance your efficiency. While I don't always execute this perfectly—there are moments when I must work with challenging individuals or find myself in energy-draining environments—it's essential to remember these guiding questions:
- How long will this work be relevant?
- How much energy will this require from me?
- Will these individuals be at my funeral?
- Who can teach me this quickly?
Questions that remain unanswered are often more valuable than answers that can't be critically examined.
The first video titled "The Fastest Way To Build A One-Person Business (Beginner Guide)" offers valuable insights on establishing a solo business efficiently.
The second video, "Start a One-Person Online Business in 5 Steps (No Bs Guide)," provides practical steps to launch your online business successfully.
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