Quick reminder:
This newsletter is my unfiltered account of growing a one-person business.
And because I believe in holistic success, I'm also sharing how my physical, mental, spiritual, and philosophical pursuits are instrumental in achieving this goal.
By opening up about my path, I hope to inspire you to find your own proven approach.
Hey,
Hope you're doing well.
Grab a coffee (or tea, if that's your thing) - I've got some thoughts I’d like to share with you.
I want to make these one-person business updates a little more interesting for both of us.
I got this idea from one of the most committed entrepreneurs I’ve ever met, Ethan Golding. He set a goal to make £10k per month (even painted it on a wall in his house) and relentlessly pursued it.
Ethan updated his audience every step of the way and continues to do so.
Long story short - he’s at £30k monthly recurring revenue now and building towards £100k a month. Nothing short of an inspiration in determination and commitment.
So, following in his footsteps - I'm setting myself a similar goal:To hit £15k MRR.
I’ve no idea what it will take to reach that, but I know it’ll be good fun.
To set the stage going forward, here’s the raw numbers:
August Update (01/08/24 - 25/08/24)
Revenue: £11,350
Active Clients: 5
Operations: I’ve streamlined my offer to allow for additional capacity and a more valuable service delivery. I’ve also increased my prices to match the increased value.
Expenses:
~£100 on software/tools
~£1500 put away for end-of-year taxes
£2000 on a business coach (hired for 2 months)
Now, I know what you're thinking - "You're almost at your £15k MRR goal already!" Not quite. £6k of this month's revenue is from a 6-month upfront payment. The rest is my usual monthly retainers.
A long way to go, but we’ll get there.
Although it still feels uncomfortable sharing this, it keeps me accountable and hopefully, you enjoy being part of this.
I will be fully transparent with these updates.
If it all falls apart - you’ll know.
What should you take away from this?
Without a goal that you can apply focused work towards, day after day, you will almost definitely get stuck in an unfulfilling rut of some description.
But the thought of that can be so overwhelming that a wave of exhaustion hits us.
But laziness, I've come to realise, is just fear wrapped in lethargy.
We're scared to apply effort because it's hard.
We're primed for the reward but flinch at the thought of the work required to earn it.
an aesthetic body
a 150kg (330lbs) squat
£100,000 in the bank
a strong and loving family
a consistently positive attitude
These are the result of countless small decisions and actions taken consistently over time.
Going to the gym 5x a week is hard.
Eating only whole foods is hard.
Hitting your protein every day is hard.
Starting from 40kg on the bar and building to 150kg is hard.
Creating the necessary cash flow to reach £100k is hard.
Taking the steps to say "What if everything works out" instead of "What if this goes wrong" is really really hard.
But here's the truth:
The time will pass anyway.
You'll wish you'd have at least tried.
I’d like to leave you with this
The moments when you're tired, discouraged, and doubting everything, but you still lace up your shoes and hit the gym, or open your laptop and write that article, or make that sales call - You're building a self-image of someone who persists and ultimately achieves.
You are your ultimate project.
Your consciousness, your potential, your life – these are the raw materials you're working with.
So set an audacious goal.
Something that seems borderline delusional.
Set a deadline.
Break it down into daily actions.
Show up, day after day after day, especially when you don't feel like it.
Get comfortable with the confusion, the setbacks, and the many moments of doubt.
See what happens.
Thanks for reading and I hope you enjoy the rest of your day,
P.S.
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