I Sold My First One-Person Business Within 18 Months Of Starting. Here’s How I Did At 28 Years Old.

Here are six things I learned that will help you

I started my one-person consulting business when I was 26.

18 months later, it was acquired for an equity and salary deal.

This sale didn’t make me a millionaire overnight. I couldn’t buy a neon green Lambo to celebrate. But it taught me the fundamentals of starting a profitable business.

Here’s what I did.

#1: The riches are in the niches

I didn’t start from zero.

I had been researching and working in a niche that I knew was about to explode. It had been trending for a long time and was only growing. It was a case of when not if.

So I jumped head first into it.

I didn’t get a lot of my initial assumptions right, but my forecast of industry growth was spot on. This meant I only needed to pivot slightly to correct my other assumptions.

Your business doesn’t matter, but your industry growth does.

If you started a growing business in a dying industry you’re fighting against the current.

I had a friend who went into the print magazine business. While they got more market share, overall the business was getting less profitable. Why? The overall industry was in decline.

Focus on industry trajectory, rather than industry position.

#2: People back the jockey, not the horse

Everything in business is about relationships.

With the advent of AI, human-to-human relationships have become even more valued. A transaction is nothing more than the manifestation of trust facilitated through money.

People wanted to work with me because:

• I did what I said I was going to do.
• I communicated frequently and often.
• I managed expectations well.

People overvalue technical skills.

There are people more technically gifted than me but are not pleasant to work with. That’s where I win. People don’t want to work with jerks.

Build your technical skills, but invest more in soft skills.

#3: Don’t just build a business, build a personal brand too

Everyone’s got a personal brand. Congrats.

The question is whether you are actively building your personal brand, or you’ve been assigned one.

Your personal brand is:

• A magnet for opportunities.
• A digital asset that you own forever.
• Demonstrated value for your ideal clients.

In short, a personal brand is your distribution channel.

The business that acquired me found me through my LinkedIn content. They read my blogs. And then kept tabs on me before approaching me for a subcontractor position.

My content builds trust and intimacy for me 24/7, 365 days a year.

After 3 months of working together, they made the acquisition offer. You have no idea how powerful a personal brand is until you have one.

Build a personal brand, and then build whatever you want.

#4: Network like your life depended on it

Because it does.

Surround yourself with mentors, coaches, peers, and potential customers. You can’t achieve anything in business by yourself.

Some quick hacks:

• Learn to DM people in a non-needy way.
• Add value by commenting and sharing their content.
• Provide resources or knowledge that could help them.

Keep adding value to everything they do. Support their work and even buy their stuff. It’s so simple but people only think about themselves.

Your network is a business asset.

A key factor for my business acquisition was the network I would bring into the company and my client list. I had a solid reputation in the sector and the company knew that.

Here’s a cliche:

Your network is your net worth.

#5: Solve a big problem

I only start businesses that help companies make more money.

I want the ROI of my service to be crystal clear: if you work with me, you’ll make more money. Guaranteed. If you want to make money, help others make more money.

Stay away from discretionary spending business models.

That’s why I’m not interested (right now) in starting businesses that sell food, clothing, beauty products, or even tech. These are the first things to be cut or reduced when times get tough.

Marry big money problems.

#6: I created my own monopoly.

Don’t be someone, be the only one.

I stacked all my unique skills and experiences and created an offer I could only fulfill. I developed a deep technical skill, but supplemented it with:

• Marketing
• Business Development
• Content Writing
• Personal Branding

I was the only social procurement consultant who could offer these services as a package. This put a premium on my pricing and the value I could provide.

Don’t copy the business, copy the principles.

Business models come and go.

But these business principles endure over time:

1. Pick a growing industry.
2. Focus on building deep relationships.
3. Build your personal brand and distribution channel.
4. Network, network, and network.
5. Solve big money problems.
6. Create your own monopoly.

Good luck.

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