#064: The Minimalist Entrepreneur [Podcast]

Imagine starting and running a business that has no office, no employees, no inventory, no overhead, and potential revenue in the millions of dollars. Every day you work from wherever you want-maybe one day from your house, maybe the next day from Starbucks, maybe the next day from the deck of a cruise ship.

minimalist-workspace

 Sound like a cheesy Internet ad? Maybe. But it’s also reality for a lot of people I know. And it can be reality for you. That’s what today show is all about-how to be a “minimalist entrepreneur”.  The idea for this week show sprang from a series of blog posts written by my friend Ryan Lee. If you haven’t read those posts, I highly recommend them.

Announcements:

  • Wisdom Thesis Workshop coming up, June 25-28
  • NAMS Conference, August 9-11
  • Platform Conference, November 3-5

Tip Of The Week

BaseCamp Mobile App for IOS. While there have been many attempts to create a mobile app that allows you to access your Basecamp account, this is the official 37 signals app. And it works flawlessly, just as you would expect.

Spiritual Foundations

Put it in writing, because it is not yet time for it to come true. But the time is coming quickly, and what I show you will come true. It may seem slow in coming, but wait for it; it will certainly take place, and it will not be delayed. Habakkuk 2:3 (GNB)

Does it ever seem that God  is answering your prayer by saying “no”?

Let’s assume that what you’re asking for in prayer is consistent with God’s will, as it is revealed in the Bible.

And let’s assume that you even feel, for one reason or another, that you have heard from God in this area and that you felt his answer was yes. Yet the thing you’re praying for doesn’t seem to come through.

Just remember what Robert Schuller said: “God’s delays are not God’s denials.”

Sometimes God answers our prayer for an oak tree by delivering us just exactly that. An oak tree. That’s called a miracle. Other times, he delivers us an acorn, and we have to cultivate it and care for it as it grows.

And while you are waiting for the fulfillment of your prayer, you might ask God who he wants to be to you, in that interval.

“Don’t try to get out of anything prematurely. Let it do its work so you become mature and well-developed.” (James 1:4, Msg)

 

Feature Segment: The Minimalist Entrepreneur

Matthew is a friendly, unassuming, and very likable guy. But he doesn’t have a job. He started his own business a couple of years ago, has no employees, has no inventory or storefront, and runs that business from his laptop. He sometimes works from Starbucks, sometimes from home, in sometimes uses a tiny office he rented a few months ago. In that office it’s just him, and the bare minimum of furniture required, and a lot of quiet. And in that quiet, Matthew rakes in an average of $150,000… Per month.

Now Matthew is a real person, a friend of mine, and I’ve changed his name just to protect his privacy. He is a minimalist entrepreneur.

I too am a minimalist entrepreneur. In the old days, before the Internet, starting a company that brings in the kind of revenue our company does what it meant a huge capital investment. Perhaps a dozen employees. A lot of overhead, and a great deal of risk. But today, because of the leverage offered by the Internet, I have a global business that I operate mostly from my laptop. And while there are a dozen or so people who make my company run, all but one of them are virtual workers, scattered all over the globe.

You, too, can operate a minimalist enterprise. In this episode, how explain the advantages of doing this, and provide a basic outline of how to pull it off.

 Advantages Of The Minimalist Entrepreneur

  1. Zero startup cost
  2. Close to zero operational cost
  3. Peace of mind
  4. Low stress
  5. Big payoff

 The Minimalist Entrepreneur Blueprint

  1.  Strategy over tactics.
  2. No facility.
  3. No employees.
  4. No inventory.
  5. Minimal fixed expense.
  6. Virtualize the enterprise.
  7. Systemize the enterprise.
  8. Globalize the enterprise.
  9. Fight feature creep.
  10. Define culture.
  11. Don’t lose money.

Want To Be On Next Week’s Show?

My topic for next week’s show is “How to Triple Your Productivity Tomorrow”. If you have a question on that topic, you can ask by visiting my voicemail page (just click here to leave a message). This is a great way to promote your own website. First, make sure you have a great question, and then start off by saying your name and your website. If your question is used on the show, will even include a link back to your site in the show notes.

Your Feedback

Do you have an idea for a podcast you would like to hear? Do you have a question that you like to ask me? Please contact me.

Call in your questions or comments to our new, fancy “request line” at (509) 713-2679 or click here to leave a message on my Voicemail Page

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8 thoughts on “#064: The Minimalist Entrepreneur [Podcast]

  1. This was my first time listening to you podcast Ray! It was absolutely brillinat! Can’t believe I have 63 to look back on… I’ll be like a kid in a candy store!

    I almost stopped on the spiritual foundations because it so deeply spoke to me where I am and I’m so glad I didn’t as I got a lot out of the rest of the podcast… I have a full page of notes!

    Thanks for all you are doing 🙂

  2. Thanks Ray. I enjoyed the way you laid out strategy vs. tactics for mimimal entrepreneurism and then the key elements of achieving it. I’d love to hear more about how you interact with and manage your virtual team and maintain your company culture. I’d also love to know more about how you documented the culture you’re creating so that you could effectively share it with new team members across the globe.

  3. Looking forward to listening to this one today. When I first went out on my own, business wise, I had a full service ad agency with an office, employees, overhead, headaches, etc. I quickly realize that I didn’t want the baggage or the pressures. I wanted to be more free and nimble so I closed down the agency, in it’s “traditional” sense at the time and became a “Minimalist Entrepreneur.” It was one of the best decisions I ever made. I’ve worked this way now for over 10 years and low it. Have no employees (but do have multiple long-time freelancer partners, including my graphics designers, virtual assistant, web designers, etc). I work from home, from the back porch, from the park, from remote offices…. basically wherever I want. I work a lot but I love it and I get to make my own schedule so while I might work some at 10pm at night when my kids are in bed, I can take time to spend with them in the middle of the day. Oh, and I also make a very good living… and honestly, most days my work “attire” is shorts and a t-shirt. 😉

    • Now that is an inspiring tale, Daniel. I appreciate so much that you took the time to share it. And you’re right… There’s nothing quite like spending your workday in shorts and a T-shirt!

  4. Ray, I have been listening to your podcasts for a couple of months now and I ALWAYS get great information from them. Today I wrote down “Basecamp”, “The hundred dollar startup” and “Work the System”, which I will look into. I also don’t know what it was you said, but something in your Spiritual Foundations segment reminded me that I need to be talking to God about my potential business a LOT more. I don’t know if God is saying “no”, because I haven’t been listening enough! Thanks for the reminder.

    And the minimalist entrepreneur is all great stuff, especially for those of us just starting out.

    Thanks again!!