TFF #006 - Can a One Person Business Generate Millions?
November 3, 2023
📌 Mitch Wilder
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A few months ago I came across a post on X.com (formerly Twitter) that said this:
Needless to say, a one-person business that was generating $4 million in revenue and operating at a 94% profit margin got my attention.
As I learned more about Justin Welsh and his Solopreneur business model I saw he and his opportunity were legit. Everything added up.
Here’s what I’ve learned from watching Justin Welsh grow his 7-figure, one-person business on LinkedIn and X.com.
Simplified Products and Services
Justin has taken a contrarian approach to his product development.
He has 3 core products:
The Content OS - A $150 course on content marketing mostly around X.com content
The LinkedIn OS - A $150 course on how he’s built a large LinkedIn Following
Newsletter Sponsorship - $3,000 with a 5-month waiting list
In a world where everyone is selling high-ticket courses for $1,997, Justin decided to provide just as much value for only $150.
This has resulted in him selling over 20,000 of these courses with thousands of happy customers.
His sponsors are happy because they get a lot of exposure from a very loyal reader base who love Justin and his content.
How to make application yourself:
Don't be afraid to do the opposite of everyone else
Focus on mastering the basics
Focus on providing more value than your customer paid for
The Best Newsletter on The Internet
Over the past few months, I’ve read almost every newsletter Justin has published and I’m convinced it’s one of the best newsletters I’ve found on the internet.
That’s because it's a combination of high value, high impact, and quick and easy to consume.
Here’s how it works:
Each week, Justin writes a high-value newsletter based on what’s working in his business
He sends the newsletter on the same day and time each week
The reader can choose to read the newsletter in their email or read it on the site
Each newsletter has 2 sponsors with outbound links to their offers
After value is provided, there’s an awesome call to action to become a customer
After reading a few newsletters, you can't help but think:
”If the free content is this good, then how good must the paid content be?”
When that happens you will likely buy soon after.
How to apply this:
Create a high-value core content piece like a newsletter
Build your list of people who want to get your weekly newsletter
Blow them away with value!
The Social Media Strategy
Justin’s social media strategy is deceptively simple.
That’s by design.
Here it is in his own words, then we will break it down a little.
So here’s the content schedule for each week:
1 Newsletter (core content)
14 Tweets
1 Thread
14 LinkedIn posts
He also spends about 45 minutes networking with people each day. Basically that means replying to comments and interacting with his followers of which he has hundreds of thousands.
How to apply this:
Create a core piece of content each week
Create as many social posts as you consistently can from it
Cross-post those on all applicable platforms
Interact with people who comment on it
One-to-Many Content Conversion
It can be difficult to keep your message on point.
Lots of people start by posting their ideas as tweets or threads and then convert the top-performing content into newsletters or YouTube videos. You can see an example of how Alex Hormozi does that here.
However, it can be easy to get off message using this strategy if you don't already have your message honed in.
Justin starts with a core piece of content, his newsletter, and then converts the newsletter into many social media posts.
I’ve tested both strategies and Justin’s method of starting with the newsletter and creating the social media posts from it works much better and allows you to create content that’s on message much faster and easier.
It also allows your Social media posts to seamlessly direct back to the core piece of content.
How you can apply this:
Create a core piece of content like a newsletter or YouTube video
Convert that content into social media posts
Use the social media posts to direct traffic back to the core piece of content
Whenever you’re ready, here are 2 ways I can help you:
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👋 Hi, I’m Mitch Wilder…
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