Book SummaryCompany of One, by Paul Jarvis

1-Page Summary1-Page Book Summary of Company of One

Have you ever wished you could own a company, but you feel out of place in the fast-paced, growth-focused world of business? In Company of One (2019), Paul Jarvis presents a solution—a single-person company that limits its growth and focuses on creating quality products and services. He argues that by owning such a company, you can exercise more control over your work, create your own schedule, and form meaningful, successful relationships with customers.

For years, Jarvis worked as a corporate web designer for companies...

Company of One Summary Why Growth-Focused Companies Don’t Always Work

To begin, let’s examine three reasons behind Jarvis’s argument that constant growth doesn’t have to be a company’s primary goal—despite this being a common ethos in the business world.

Reason #1: Growth Increases Complications

According to Jarvis, growth brings inevitable complications for a business. When traditional companies grow and scale, they have to spend more money and hire more employees. This requires a more robust infrastructure, so these companies must invest in new systems that further complicate and slow down work processes.

For example, video game company Zynga spent $100 million on building their own data centers after achieving success with their free game downloads. This became a financial burden for the company as they struggled to keep up with innovations in the video game industry, eventually forcing them to lay off a large number of...

Company of One Summary The Three Main Characteristics of a Single-Person Company

Now that we’ve discussed the reasons not to push your company toward fast, unsustainable growth, let’s examine Jarvis’s alternative path. According to Jarvis, a single-person company focuses on simplicity and stability. As the owner of a single-person company, your primary goal is to make enough revenue to pay yourself a salary and cover your business expenses.

(Shortform note: In The $100 Startup, Chris Guillebeau describes a company type in between Jarvis’s single-person company model and a large, growth-focused company. He states that a mid-sized company model allows you to expand your business and reach a wider audience without the constraints of larger corporations or mass markets. You might hire more employees than you would as the owner of a single-person company to meet the demand for your product, but you still don’t outsource the creation or distribution of your product. You still pay your salary and expenses, and your business makes a higher profit.)

Over time, **you may slowly grow your company’s profit as the...

Company of One Summary Getting Started With Your Single-Person Company

In the last section, we explored the characteristics and benefits of Jarvis’s single-person company model. Now, let’s dive deeper into three pieces of practical advice for starting your single-person company:

1. How to build your skillset so you’re prepared to run your own business
2. How to set up a strong financial and legal foundation
3. How to develop strong customer relationships

Tip #1: Build Your Skillset

Jarvis suggests building your skillset before starting your single-person company. To be successfully independent, you have to be good enough to stand on your own. You can achieve this in a variety of ways, including working for a while at an existing company to gain experience, taking classes, or practicing skills on your own.

First, hone your knowledge and skill in the work that forms the core of what you want your single-person company to be. For example, consider our earlier example of the business that offers online cooking classes—before you open such a company, you should learn from other chefs, practice your teaching skills as an instructor at an existing cooking school, and so on. This will give you credibility as an expert in your field and...

Shortform Exercise: Develop an Idea for a Single-Person Company

Jarvis offers insights into the potential benefits of owning a single-person company. Start developing an idea for your own company.

Write down an idea for a business you could turn into a single-person company. (For example, maybe you want to start a personal training business or a business as a professional meal prepper.)