Claude Mulindi

Company of One thumbnail

Company of One

Paul Jarvis

Growth for growth sake is a bad modus operandi. Many businesses would benefit from staying small and offering exceptional services to their most loyal customers in return for a higher rate. Not too many notes but this is the main idea.

Date Read: 2025-02-09
Recommendation: 4/5

Notes:

Don’t mistake simple for easy.

Listen to, communicate with, and help the people already paying attention to you. Focus on your existing customers.

Avoid complexities. Simple rules, simple processes, simple solutions.

Simplicity has to be a mandate.

Growth, as a primary focus, is not only a bad business strategy but a harmful one.

Jarvis kept doubling his rate, putting in the same amount of work for more revenue.

Scale the idea down to the basics. Then scale up. Focus on helping people with what you have right now!

It’s possible to start a new business by finding and helping a single customer. Then doing that again and again; only adding new items and processes when required

A leader’s job is to provide clear directions and then get away. Even companies of one require direction and set processes.

Companies of one need to be relentless in what the say no to.

Growth as a one dimensional metric for success is useless in the absence of real reason for it or ways to support customers once they’re acquired.

Growth happens for four reasons in business: Inflation Investors Churn Ego

At the start, you’re the smallest and most agile you’ll ever be. You have fewer or no customers, less established processes, and less name recognition. Being small and measuring meaningful growth off of profits than projects ensures more meaningful growth.

Proudly exclude people because you can’t please everyone. That way, your people will be particularly drawn to you.

A company of one has a massive asset when it comes to customer service - it can be delivered in a way that doesn’t scale. Restaurant owners who remember your name. Founders who answer support tickets.

Acquiring new customers costs far more than renewing customers. Customers of one can forgo user acquisition at any price and concentrate on retaining and pleasing existing customers.

Companies of one are in the people serving business. Happy customers become evangelists for your company.