Summary

The article discusses the pitfalls of obsessively chasing a $1 million business goal at the expense of personal relationships and well-being, advocating instead for a more balanced approach focused on earning enough to live comfortably.

Abstract

The narrative begins in 2016, with the author inspired by a Reddit case study to build a niche site aimed at achieving a $1 million business. Over seven years, despite earning a decent living and selling two blogs for six figures, the author considers the endeavor a failure for not reaching the$ 1 million mark. The pursuit leads to an obsession that strains the author's marriage and social life, culminating in a realization of addiction rather than passion. A friend's advice to sell the business while it's profitable saves the author from potential financial ruin following a Google update. Even after selling another site and earning another six-figure sum, the author remains unsatisfied. A subsequent Google update that affects the business model prompts a moment of clarity about the true desires and needs of the author, who concludes that the pursuit of wealth was driven by ego rather than genuine fulfillment. The author now aims for a more modest income of $50,000 a year, which allows for a comfortable life without unnecessary sacrifice.

Opinions

Chasing a $1 million goal can be detrimental to personal relationships and mental health.
The pursuit of wealth can be an ego-driven endeavor rather than a path to genuine happiness.
Achieving financial stability and the ability to enjoy life's simple pleasures is more valuable than an arbitrary monetary goal.
The unpredictability of external factors like Google updates can render years of work obsolete, emphasizing the importance of seizing opportunities when they arise.
Being a successful creator and business owner is not contingent upon reaching a specific financial milestone.
The journey towards financial success should not overshadow the joy of creating and building businesses one is proud of.

Give up Your Dreams of Building a $1m Solo Business

There’s an easier way to get the life you want

It’s 2016, you find a Reddit case study where someone is building a niche site to $50,000 a month in revenue in one year. They’re going to sell it for $1,000,000.

You want in.

For the next seven years you chase that goal. Right up until Google Kills the niche site. You make a decent living, you sell two six-figure blogs, but it doesn’t matter. This arbitrary goal you’ve chosen hasn’t been reached. You’ve failed.

Almost losing everything in the name of chasing money

You wake up thinking about your niche site and cram in 30 minutes of work before heading off to your job a a shoe shop. You Spend your day at work making notes about your business. Then your nights are spent in the glow of your laptop hammering away at your keyboard.

You’re obsessed. Gotta get after that hustle right?

Only there’s a colossal problem. Your wife is at home with you. She’s wondering why you aren’t listening or talking to her. Your friends are messaging asking where you’ve been. You say no to meeting up.

You’re going to make a million dollars, and you’ve got to sacrifice to win right? Your friends stopped messaging.

Months go by. It’s 10.30 pm on New Year’s Eve 2016. You and your wife are having a quiet one at home. Except you aren’t. You’re at your laptop, fully engrossed in a 4000-word article comparing pillows. Your wife is in the room with you. You convince yourself it’s fine because you’re spending time together. Your wife sits there lonely as hell because you’re not talking.

But you’re going to make a million dollars, and then everything will be wonderful right? That’s the promise.

Months go by. Your marriage gets worse and worse. Your wife confronts you about your bullshit and helps you realize you’re not obsessed. You’re addicted.

You listen. You stay Married. You start to change. You reconnect with friends. But that’s not the end of the story. You don’t give up your million-dollar dreams.

Money now over potential money later

Fast forward three years. Your site is taking off. A favorable Google update combined with a surge in interest during the first lockdown tripled earnings.

You’re ready. You’ve been waiting. You’re going to ride that high for the next twelve months and cash out for your $1mil payday.

A trusted friend steps in. “Why don’t you sell now while it’s high?”

You: “Nah man, I’m riding this to the 1 million dollar mark.”

Him: “Mate. Google can wipe you out in a single update. Why not cash in now while it’s actually worth a good sum of money? Don’t wait for what it might be worth.”

You hum and haw but realize he’s right. You set up the sale process, and as you do, you notice the tide turning. You double down to get the sale through as you notice another google update has started rolling back your gains. And the surge in interest is dying off.

You watch the traffic to that site slowly decrease over the next three years. Without the intervention from your friend, you would have stood on that sinking ship all the way to the bottom of the ocean.

Do you celebrate? Nope. You still haven’t made your million-dollar goal. You get straight back on that grind with your next site.

The exact same cycle repeats. You build up another site and sell it. You get another six-figure payday. You still don’t celebrate.

You dive straight back in to your next site. Until a year later, a Google update crushes your business model. Sitting in the devastation of your now ruined business, you have a brief moment of clarity:

“What am I actually chasing here? I’ve always wanted to be a full-time creator, and despite being one for the last 7 years, I’m disappointed? Something doesn’t add up.”

Learning the hard way that money isn’t the answer

If you dream of being a million dollar creator, what do you think will happen when you reach that goal?

Are you going to sell up and retire? Really? For a few months, it’ll be fun, but then what?

You’ll get the itch to start creating. You’ll start a new project. And it will probably make money because you’ve learned the skills of making money online.

All of a sudden, you’re going to be earning enough to cover your bills and be doing what you wanted to do in the first place. You never needed the money.

Aiming for a million dollars is your ego talking. Your ego wants to be the big man and feel like a big dick swinger with a big bank balance. You just want to create things and build businesses you’re proud of.

Chase $50,000 a year

I managed to get off the path that might have left me sitting alone in my mansion. Even worse, I avoided sitting in my rented flat, alone and bitter because my sacrifice wasn’t worth it.

That’s why I’m chasing $50,000 a year. That’s plenty. That’s enough to pay my bills, take my wife out to dinner, and have some leftover for doing fun things. And I’ve still got some money in the bank from my website sales so I’m happy.

Being able to pay bills without worry is a wonderful feeling. Chasing more than that might be your ego talking. Do you really need a million dollars to live the life you want?

Hat tip to Tim Denning for the style inspiration.