Brett Williams is renowned as one of the highest paid solopreneurs on the internet, earning over $2 million annually with his side project.
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Despite having zero employees or contractors, he manages to work only 6 hours a day. Initially sceptical of his success, I delved deeper into Brett's story, what I discovered was nothing short of mind-blowing.
Brett's success, totalling $1.8 million, isn't a stroke of luck; it's the result of strategic decisions. His journey began in a typical 9-to-5 job as a graphic designer, craving something more substantial that he could truly own. Inspired by a subscription-based graphic design service, Brett conceived his own agency, Design Joy.
What sets him apart is his approach to pricing. By offering unlimited graphic design for a mere $449 a month, he quickly secured his first paying client within 24 hours. This demand-based pricing strategy, albeit unsustainable long-term, kickstarted his journey.
His success hinges on meticulously crafted boundaries. Despite the influx of clients, Brett remained a one-man operation.
To prevent burnout, he enforced strict rules: clients must submit design requests asynchronously via a Trell board, limiting them to one request at a time. These boundaries safeguard his time, ensuring sustainable growth without sacrificing quality.
Transitioning from $500 to $5,000 clients was pivotal. While $500 clients proved demanding and unreliable, $5,000 clients valued efficiency and quality, viewing Brett's service as indispensable. His ability to attract such high-paying clients stems from offering a solution that's both convenient and effective, positioning himself as the go-to designer in a sea of options.
Crucially, Brett identified a high-demand, low-touch service: website design and branding. Leveraging his expertise, he delivers exceptional results within hours.
This efficiency minimizes expenses, as his only real cost is time. It's a winning formula that maximizes profit while minimizing effort—a rare combination in the world of solopreneurship.
But Brett's genius doesn't stop there. By productizing his knowledge, he diversified his income stream.
His downloadable templates and courses not only generate revenue but also allow him to step back from trading hours for dollars. This strategic move not only ensures financial stability but also affords him the luxury of working less while earning more.
In essence, Brett's journey isn't just a stroke of luck; it's a meticulously crafted playbook for success. From strategic pricing to enforcing boundaries and productizing services, his story offers valuable insights for any aspiring entrepreneur.
This is just one of the posts about tactics, strategy and psychology of entrepreneurship that you can read about in long-form format at A Smart Bear.