Business
Business
Business
Company of One by Paul Jarvis
Company of One by Paul Jarvis
Company of One by Paul Jarvis
Discover the key ideas of Paul Jarvis's Company of One with our visual book summary.
Discover the key ideas of Paul Jarvis's Company of One with our visual book summary.
Discover the key ideas of Paul Jarvis's Company of One with our visual book summary.
Book Introduction
"Company of One" by Paul Jarvis challenges the traditional notions of growth and success in the business world.
Jarvis, an entrepreneur, and designer, advocates for the idea that staying small can be a viable and fulfilling business strategy.
Through real-life examples and practical advice, this book encourages entrepreneurs to focus on quality, autonomy, and personal satisfaction, rather than constant expansion.
It offers a fresh perspective on business and empowers individuals to create their own path to success on their own terms.
My goal with this illustrated book summary is to highlight the ideas that have resonated the most with me so you can hopefully benefit from them in your life.
Bigger isn't always better, in fact, bigger is often the wrong choice
For companies of one, the question is always:
“What can I do to make my business better?”
Instead of:
“What can I do to grow my business larger?”
Focus on quality over quantity
By concentrating on enhancing your business and providing superior customer service, your solo enterprise has the potential to increase its profits from the same level of effort. This is achievable by raising your prices until your demand levels out to a manageable level.
Ask yourself…
Whether you are paying attention to your existing customers or to just your potential customers
Whether you could make your business better (however you define that) instead of just making it bigger
Whether your business really needs scale to succeed
Where the upper bound to that scale might be, the place where profit and enjoyment have diminishing returns
How you could turn envy of others into enjoying their successes and learning from them
The lost and sacred power of saying “NO”
As a company-of-one leader, it's crucial to master the art of saying no. Treating it as a proactive strategy can help you navigate the constant stream of requests, tasks, meetings, and distractions that come your way. By prioritizing your business's needs and your team's objectives, you can free up time and energy to pursue more promising opportunities. Developing the ability to assess options swiftly and determine which ones are worth pursuing and which ones to decline is essential.
Reverse engineer your dream before you commit to a long-term project
Many individuals often begin with a business model, only to realize later on that they're dissatisfied with the tasks they perform each day. Rather than pondering, "What product can I create?" or "What service can I offer?", it's recommended that you ask yourself, "What sort of life do I desire?" and "How would I like to spend my days?" Then, you can design a business model that allows you to create efficient systems to deliver your product or service to your customers at scale without requiring the entirety of your time.
Execution is everything. Find something good and make it great
At the core of many massive, profitable, global companies is an old idea executed exceptionally well. Facebook is just a better MySpace, and both are essentially digital meeting places. Taxis take people from point A to point B. Uber/Lyft just figured out how to make this service more convenient. None of these are billion-dollar ideas; rather, they’re billion-dollar executions of ideas.
The one who makes the most is the one who teaches the most
In the past, companies were often hesitant to invest in customer education due to the lack of perceived economic benefits. The prevailing notion was that sharing insider knowledge with customers would lead to a loss of business, as customers would use the information to purchase from competitors instead.
However, recent research by Andreas Eisingerich and Simon Bell at the MIT Sloan School of Business suggests that these fears are unfounded. In fact, the opposite is often true. Eisingerich and Bell surveyed 1,200 clients of an investment firm and discovered that educating customers about the pros and cons of financial products actually increased their trust in the firm, as well as their loyalty and appreciation for the firm.
Word of mouth: the enduring power of personal recommendations
The power of recommendations, or simply word-of-mouth, lies in the fact that they can create trust through someone else. When your good buddy recommends a product, you'll likely trust their opinion, and that trust extends to the product they're recommending. This also works somewhat online: you tend to trust the people you follow, so you're more likely to trust their recommendations.
Don’t mistake vanity metrics for value metrics
In recent years, big businesses have been all about collecting "vanity metrics" like social media followers, subscribers, and clicks for their marketing and promotion efforts. But the thing is, these metrics don't always translate to actual sales, profit, or a good reputation. They don't measure engagement or trust, they just show how many people fell for their marketing tricks.
Instead of focusing on building relationships with their customers who are already listening, following, or buying, these companies are more interested in "collecting" page likers and followers. But let's be real, having a hundred loyal fans who are excited to buy everything you release is way more effective than having a hundred thousand followers who are just there to score a free iPad or whatever.
Profit from specialization: the power of niche markets
Kurt Elster decided to concentrate solely on serving Shopify store owners instead of investing his time in building a broad audience for general e-commerce consulting services.
Shopify is an e-commerce platform used by over 400,000 businesses, and Kurt's specialization in this niche has helped him establish credibility with a smaller and more targeted audience. As a result, he has witnessed an eightfold increase in his revenue and earned a prominent reputation as a Shopify consulting authority, even being featured on Shopify's website.
Kurt's success in aiding Shopify store owners has attracted more leads, allowed him to charge premium prices for his services, and provided him with opportunities to speak at events worldwide. When choosing a consultant for their Shopify store, would you opt for a general e-commerce consultant or someone like Kurt who has a sole focus on Shopify?
Simplify your solution and the market will reward you
As a solo entrepreneur, the key to your success lies in discovering a straightforward resolution to a complex or annoying problem. This is an invaluable asset that cannot be replicated by either artificial intelligence or a large workforce. Your aptitude for tackling problems with simplicity will ensure that your talents remain pertinent in any industry. The advantage of starting with a small customer base is that you can connect with them personally to gather feedback, suggestions, and ideas for enhancements to your product.
Use existing building blocks to Innovate and Improve existing products
When you build upon an existing and familiar concept, it's like using a building block.
Casper, for example, didn't invent a new type of mattress to sleep on. Instead, they took an existing product and made it better. Since everyone knows what a mattress is, they don't have to explain that part. Casper just focuses on why their mattress is awesome. In other words, they're not just selling a mattress, they're selling better sleep.
Their mattresses are just the means to achieve it. They keep this message consistent across their social media, blog, and advertising. Casper targets a specific group of people: the younger ones who want to ditch their lumpy mattresses but don't want to go to stores and talk to salespeople.
Aim to build an authentic company
Rather than assuming that presenting yourself as a large, unexciting corporation will attract more customers, it's important to recognize that the opposite is often the case. Nowadays, individuals tend to prefer purchasing goods and services from individuals or organizations with whom they can establish a connection or relate to in some way, and those are usually small to medium-sized.
Customer relationships will make the difference
Large companies could benefit from adopting the mindset and tactics of smaller businesses. Small businesses take pride in being small, using their distinct personality and focus to cater to specific customer segments. They create personalized relationships with customers, which reduces the likelihood of losing them to competitors and strengthens the belief that smaller ones can be better.
Become a giver before you ask for anything in return
Social capital is the idea that our social networks hold value in today's world. These networks allow individuals to perform various actions, such as buying goods, exchanging information, and aiding each other. Essentially, relationships act as a form of currency.
Consequently, solo entrepreneurs must view social capital as a bank account where withdrawals cannot exceed deposits. Consistently promoting products on social media without providing any value to others will lead to a zero balance or even overdrawn account. Customers do not want to purchase products from someone who constantly solicits them through "Buy my stuff!" messages and posts on social media.
What is it that you really want? The status or the process?
Many individuals romanticize the notion of being self-employed without fully comprehending the day-to-day responsibilities that come with being their own boss.
“People want to be the noun without doing the verb.” — Austin Kelon
Austin Kleon astutely points out that individuals aspire to hold the title of founder or CEO and possess a business card and a polished website with a fresh logo, but they neglect the daily challenges associated with managing their own business. Merely having an ingenious idea or a strong desire to develop a thriving business is insufficient. Although ideas and aspirations are admirable, they are worthless without action and the dedication to put in the work to turn them into reality.
Thank you for reading!
This visual “summary” is not intended to replace the original book. Just see it as a playful and useful supplement to reading or a fresh way to discover engaging titles.
I'll be adding more visual ideas to this summary as time goes on, so stay tuned and make sure to revisit this page every now and then.
“Perfection through iteration, not revision.”
You might also like my visual notes on...
Book Introduction
"Company of One" by Paul Jarvis challenges the traditional notions of growth and success in the business world.
Jarvis, an entrepreneur, and designer, advocates for the idea that staying small can be a viable and fulfilling business strategy.
Through real-life examples and practical advice, this book encourages entrepreneurs to focus on quality, autonomy, and personal satisfaction, rather than constant expansion.
It offers a fresh perspective on business and empowers individuals to create their own path to success on their own terms.
My goal with this illustrated book summary is to highlight the ideas that have resonated the most with me so you can hopefully benefit from them in your life.
Bigger isn't always better, in fact, bigger is often the wrong choice
For companies of one, the question is always:
“What can I do to make my business better?”
Instead of:
“What can I do to grow my business larger?”
Focus on quality over quantity
By concentrating on enhancing your business and providing superior customer service, your solo enterprise has the potential to increase its profits from the same level of effort. This is achievable by raising your prices until your demand levels out to a manageable level.
Ask yourself…
Whether you are paying attention to your existing customers or to just your potential customers
Whether you could make your business better (however you define that) instead of just making it bigger
Whether your business really needs scale to succeed
Where the upper bound to that scale might be, the place where profit and enjoyment have diminishing returns
How you could turn envy of others into enjoying their successes and learning from them
The lost and sacred power of saying “NO”
As a company-of-one leader, it's crucial to master the art of saying no. Treating it as a proactive strategy can help you navigate the constant stream of requests, tasks, meetings, and distractions that come your way. By prioritizing your business's needs and your team's objectives, you can free up time and energy to pursue more promising opportunities. Developing the ability to assess options swiftly and determine which ones are worth pursuing and which ones to decline is essential.
Reverse engineer your dream before you commit to a long-term project
Many individuals often begin with a business model, only to realize later on that they're dissatisfied with the tasks they perform each day. Rather than pondering, "What product can I create?" or "What service can I offer?", it's recommended that you ask yourself, "What sort of life do I desire?" and "How would I like to spend my days?" Then, you can design a business model that allows you to create efficient systems to deliver your product or service to your customers at scale without requiring the entirety of your time.
Execution is everything. Find something good and make it great
At the core of many massive, profitable, global companies is an old idea executed exceptionally well. Facebook is just a better MySpace, and both are essentially digital meeting places. Taxis take people from point A to point B. Uber/Lyft just figured out how to make this service more convenient. None of these are billion-dollar ideas; rather, they’re billion-dollar executions of ideas.
The one who makes the most is the one who teaches the most
In the past, companies were often hesitant to invest in customer education due to the lack of perceived economic benefits. The prevailing notion was that sharing insider knowledge with customers would lead to a loss of business, as customers would use the information to purchase from competitors instead.
However, recent research by Andreas Eisingerich and Simon Bell at the MIT Sloan School of Business suggests that these fears are unfounded. In fact, the opposite is often true. Eisingerich and Bell surveyed 1,200 clients of an investment firm and discovered that educating customers about the pros and cons of financial products actually increased their trust in the firm, as well as their loyalty and appreciation for the firm.
Word of mouth: the enduring power of personal recommendations
The power of recommendations, or simply word-of-mouth, lies in the fact that they can create trust through someone else. When your good buddy recommends a product, you'll likely trust their opinion, and that trust extends to the product they're recommending. This also works somewhat online: you tend to trust the people you follow, so you're more likely to trust their recommendations.
Don’t mistake vanity metrics for value metrics
In recent years, big businesses have been all about collecting "vanity metrics" like social media followers, subscribers, and clicks for their marketing and promotion efforts. But the thing is, these metrics don't always translate to actual sales, profit, or a good reputation. They don't measure engagement or trust, they just show how many people fell for their marketing tricks.
Instead of focusing on building relationships with their customers who are already listening, following, or buying, these companies are more interested in "collecting" page likers and followers. But let's be real, having a hundred loyal fans who are excited to buy everything you release is way more effective than having a hundred thousand followers who are just there to score a free iPad or whatever.
Profit from specialization: the power of niche markets
Kurt Elster decided to concentrate solely on serving Shopify store owners instead of investing his time in building a broad audience for general e-commerce consulting services.
Shopify is an e-commerce platform used by over 400,000 businesses, and Kurt's specialization in this niche has helped him establish credibility with a smaller and more targeted audience. As a result, he has witnessed an eightfold increase in his revenue and earned a prominent reputation as a Shopify consulting authority, even being featured on Shopify's website.
Kurt's success in aiding Shopify store owners has attracted more leads, allowed him to charge premium prices for his services, and provided him with opportunities to speak at events worldwide. When choosing a consultant for their Shopify store, would you opt for a general e-commerce consultant or someone like Kurt who has a sole focus on Shopify?
Simplify your solution and the market will reward you
As a solo entrepreneur, the key to your success lies in discovering a straightforward resolution to a complex or annoying problem. This is an invaluable asset that cannot be replicated by either artificial intelligence or a large workforce. Your aptitude for tackling problems with simplicity will ensure that your talents remain pertinent in any industry. The advantage of starting with a small customer base is that you can connect with them personally to gather feedback, suggestions, and ideas for enhancements to your product.
Use existing building blocks to Innovate and Improve existing products
When you build upon an existing and familiar concept, it's like using a building block.
Casper, for example, didn't invent a new type of mattress to sleep on. Instead, they took an existing product and made it better. Since everyone knows what a mattress is, they don't have to explain that part. Casper just focuses on why their mattress is awesome. In other words, they're not just selling a mattress, they're selling better sleep.
Their mattresses are just the means to achieve it. They keep this message consistent across their social media, blog, and advertising. Casper targets a specific group of people: the younger ones who want to ditch their lumpy mattresses but don't want to go to stores and talk to salespeople.
Aim to build an authentic company
Rather than assuming that presenting yourself as a large, unexciting corporation will attract more customers, it's important to recognize that the opposite is often the case. Nowadays, individuals tend to prefer purchasing goods and services from individuals or organizations with whom they can establish a connection or relate to in some way, and those are usually small to medium-sized.
Customer relationships will make the difference
Large companies could benefit from adopting the mindset and tactics of smaller businesses. Small businesses take pride in being small, using their distinct personality and focus to cater to specific customer segments. They create personalized relationships with customers, which reduces the likelihood of losing them to competitors and strengthens the belief that smaller ones can be better.
Become a giver before you ask for anything in return
Social capital is the idea that our social networks hold value in today's world. These networks allow individuals to perform various actions, such as buying goods, exchanging information, and aiding each other. Essentially, relationships act as a form of currency.
Consequently, solo entrepreneurs must view social capital as a bank account where withdrawals cannot exceed deposits. Consistently promoting products on social media without providing any value to others will lead to a zero balance or even overdrawn account. Customers do not want to purchase products from someone who constantly solicits them through "Buy my stuff!" messages and posts on social media.
What is it that you really want? The status or the process?
Many individuals romanticize the notion of being self-employed without fully comprehending the day-to-day responsibilities that come with being their own boss.
“People want to be the noun without doing the verb.” — Austin Kelon
Austin Kleon astutely points out that individuals aspire to hold the title of founder or CEO and possess a business card and a polished website with a fresh logo, but they neglect the daily challenges associated with managing their own business. Merely having an ingenious idea or a strong desire to develop a thriving business is insufficient. Although ideas and aspirations are admirable, they are worthless without action and the dedication to put in the work to turn them into reality.
Thank you for reading!
This visual “summary” is not intended to replace the original book. Just see it as a playful and useful supplement to reading or a fresh way to discover engaging titles.
I'll be adding more visual ideas to this summary as time goes on, so stay tuned and make sure to revisit this page every now and then.
“Perfection through iteration, not revision.”
You might also like my visual notes on...
Book Introduction
"Company of One" by Paul Jarvis challenges the traditional notions of growth and success in the business world.
Jarvis, an entrepreneur, and designer, advocates for the idea that staying small can be a viable and fulfilling business strategy.
Through real-life examples and practical advice, this book encourages entrepreneurs to focus on quality, autonomy, and personal satisfaction, rather than constant expansion.
It offers a fresh perspective on business and empowers individuals to create their own path to success on their own terms.
My goal with this illustrated book summary is to highlight the ideas that have resonated the most with me so you can hopefully benefit from them in your life.
Bigger isn't always better, in fact, bigger is often the wrong choice
For companies of one, the question is always:
“What can I do to make my business better?”
Instead of:
“What can I do to grow my business larger?”
Focus on quality over quantity
By concentrating on enhancing your business and providing superior customer service, your solo enterprise has the potential to increase its profits from the same level of effort. This is achievable by raising your prices until your demand levels out to a manageable level.
Ask yourself…
Whether you are paying attention to your existing customers or to just your potential customers
Whether you could make your business better (however you define that) instead of just making it bigger
Whether your business really needs scale to succeed
Where the upper bound to that scale might be, the place where profit and enjoyment have diminishing returns
How you could turn envy of others into enjoying their successes and learning from them
The lost and sacred power of saying “NO”
As a company-of-one leader, it's crucial to master the art of saying no. Treating it as a proactive strategy can help you navigate the constant stream of requests, tasks, meetings, and distractions that come your way. By prioritizing your business's needs and your team's objectives, you can free up time and energy to pursue more promising opportunities. Developing the ability to assess options swiftly and determine which ones are worth pursuing and which ones to decline is essential.
Reverse engineer your dream before you commit to a long-term project
Many individuals often begin with a business model, only to realize later on that they're dissatisfied with the tasks they perform each day. Rather than pondering, "What product can I create?" or "What service can I offer?", it's recommended that you ask yourself, "What sort of life do I desire?" and "How would I like to spend my days?" Then, you can design a business model that allows you to create efficient systems to deliver your product or service to your customers at scale without requiring the entirety of your time.
Execution is everything. Find something good and make it great
At the core of many massive, profitable, global companies is an old idea executed exceptionally well. Facebook is just a better MySpace, and both are essentially digital meeting places. Taxis take people from point A to point B. Uber/Lyft just figured out how to make this service more convenient. None of these are billion-dollar ideas; rather, they’re billion-dollar executions of ideas.
The one who makes the most is the one who teaches the most
In the past, companies were often hesitant to invest in customer education due to the lack of perceived economic benefits. The prevailing notion was that sharing insider knowledge with customers would lead to a loss of business, as customers would use the information to purchase from competitors instead.
However, recent research by Andreas Eisingerich and Simon Bell at the MIT Sloan School of Business suggests that these fears are unfounded. In fact, the opposite is often true. Eisingerich and Bell surveyed 1,200 clients of an investment firm and discovered that educating customers about the pros and cons of financial products actually increased their trust in the firm, as well as their loyalty and appreciation for the firm.
Word of mouth: the enduring power of personal recommendations
The power of recommendations, or simply word-of-mouth, lies in the fact that they can create trust through someone else. When your good buddy recommends a product, you'll likely trust their opinion, and that trust extends to the product they're recommending. This also works somewhat online: you tend to trust the people you follow, so you're more likely to trust their recommendations.
Don’t mistake vanity metrics for value metrics
In recent years, big businesses have been all about collecting "vanity metrics" like social media followers, subscribers, and clicks for their marketing and promotion efforts. But the thing is, these metrics don't always translate to actual sales, profit, or a good reputation. They don't measure engagement or trust, they just show how many people fell for their marketing tricks.
Instead of focusing on building relationships with their customers who are already listening, following, or buying, these companies are more interested in "collecting" page likers and followers. But let's be real, having a hundred loyal fans who are excited to buy everything you release is way more effective than having a hundred thousand followers who are just there to score a free iPad or whatever.
Profit from specialization: the power of niche markets
Kurt Elster decided to concentrate solely on serving Shopify store owners instead of investing his time in building a broad audience for general e-commerce consulting services.
Shopify is an e-commerce platform used by over 400,000 businesses, and Kurt's specialization in this niche has helped him establish credibility with a smaller and more targeted audience. As a result, he has witnessed an eightfold increase in his revenue and earned a prominent reputation as a Shopify consulting authority, even being featured on Shopify's website.
Kurt's success in aiding Shopify store owners has attracted more leads, allowed him to charge premium prices for his services, and provided him with opportunities to speak at events worldwide. When choosing a consultant for their Shopify store, would you opt for a general e-commerce consultant or someone like Kurt who has a sole focus on Shopify?
Simplify your solution and the market will reward you
As a solo entrepreneur, the key to your success lies in discovering a straightforward resolution to a complex or annoying problem. This is an invaluable asset that cannot be replicated by either artificial intelligence or a large workforce. Your aptitude for tackling problems with simplicity will ensure that your talents remain pertinent in any industry. The advantage of starting with a small customer base is that you can connect with them personally to gather feedback, suggestions, and ideas for enhancements to your product.
Use existing building blocks to Innovate and Improve existing products
When you build upon an existing and familiar concept, it's like using a building block.
Casper, for example, didn't invent a new type of mattress to sleep on. Instead, they took an existing product and made it better. Since everyone knows what a mattress is, they don't have to explain that part. Casper just focuses on why their mattress is awesome. In other words, they're not just selling a mattress, they're selling better sleep.
Their mattresses are just the means to achieve it. They keep this message consistent across their social media, blog, and advertising. Casper targets a specific group of people: the younger ones who want to ditch their lumpy mattresses but don't want to go to stores and talk to salespeople.
Aim to build an authentic company
Rather than assuming that presenting yourself as a large, unexciting corporation will attract more customers, it's important to recognize that the opposite is often the case. Nowadays, individuals tend to prefer purchasing goods and services from individuals or organizations with whom they can establish a connection or relate to in some way, and those are usually small to medium-sized.
Customer relationships will make the difference
Large companies could benefit from adopting the mindset and tactics of smaller businesses. Small businesses take pride in being small, using their distinct personality and focus to cater to specific customer segments. They create personalized relationships with customers, which reduces the likelihood of losing them to competitors and strengthens the belief that smaller ones can be better.
Become a giver before you ask for anything in return
Social capital is the idea that our social networks hold value in today's world. These networks allow individuals to perform various actions, such as buying goods, exchanging information, and aiding each other. Essentially, relationships act as a form of currency.
Consequently, solo entrepreneurs must view social capital as a bank account where withdrawals cannot exceed deposits. Consistently promoting products on social media without providing any value to others will lead to a zero balance or even overdrawn account. Customers do not want to purchase products from someone who constantly solicits them through "Buy my stuff!" messages and posts on social media.
What is it that you really want? The status or the process?
Many individuals romanticize the notion of being self-employed without fully comprehending the day-to-day responsibilities that come with being their own boss.
“People want to be the noun without doing the verb.” — Austin Kelon
Austin Kleon astutely points out that individuals aspire to hold the title of founder or CEO and possess a business card and a polished website with a fresh logo, but they neglect the daily challenges associated with managing their own business. Merely having an ingenious idea or a strong desire to develop a thriving business is insufficient. Although ideas and aspirations are admirable, they are worthless without action and the dedication to put in the work to turn them into reality.
Thank you for reading!
This visual “summary” is not intended to replace the original book. Just see it as a playful and useful supplement to reading or a fresh way to discover engaging titles.
I'll be adding more visual ideas to this summary as time goes on, so stay tuned and make sure to revisit this page every now and then.
“Perfection through iteration, not revision.”
You might also like my visual notes on...
