Company of One summary

by Paul Jarvis · 2019 · 7 key ideas · 17-minute read

Growth isn't automatically good, so build a business that aims to be better rather than bigger, and decide what enough looks like for you.

Why read it

For freelancers, solo founders and small-business owners who want independence and a good life more than an empire, and who are tired of advice that assumes bigger is always better.

Company of One in brief

Jarvis challenges the assumption that every business should grow as fast and as large as possible. A company of one, in his sense, is any business that questions growth: it might be a solo freelancer or a small team, but it grows only when growth clearly makes the business better.

The central question is: what is enough? Defining upper limits on revenue, hours, staff or clients lets you stop chasing more and focus on doing well. Growth for its own sake brings costs: more staff, more overheads, more stress and less freedom, sometimes without more profit.

Jarvis describes the qualities that let small businesses thrive: resilience, autonomy, speed and simplicity. He advises starting small and becoming profitable quickly, aiming for what he calls minimum viable profit, and keeping costs low so the business can survive slow periods.

Much of the book is about relationships. Treat customers as people, focus on keeping them happy rather than constantly acquiring new ones, teach what you know generously and let your personality show. Over time, trust becomes the company of one's biggest advantage.

The 7 key ideas

1. Question growth

Better beats bigger.

2. Decide what enough is

Know your enough, then stop chasing more.

3. Resilience, autonomy, speed, simplicity

Small, simple and fast survives the storm.

4. Start small and profitable

Profit first, scale later, maybe never.

5. Keep the customers you have

The best new customer is the one you already have.

6. Teach everything you know

Teach freely; trust follows.

7. Grow your systems, not your headcount

Scale the system, not the payroll.

Key takeaways

• Define your upper limits for income, hours and clients.
• Ask whether each growth opportunity makes the business better or just bigger.
• Keep costs low and aim for profit early.
• Invest in existing customers before chasing new ones.
• Teach what you know openly to build trust.
• Automate or productise before you hire.

Our take

Company of One offers a welcome counterweight to growth-at-all-costs culture, and many freelancers and small-business owners find its permission to stay small freeing. Its weaknesses: the arguments are more philosophical than practical, with limited step-by-step guidance, and many examples are of knowledge workers and creators rather than businesses with physical products or heavy costs. Staying small has real risks, such as dependence on one person and vulnerability to larger competitors, which the book only partly addresses. Read it to clarify your values about growth, alongside more practical guides for running the business.

About Paul Jarvis

Paul Jarvis is a Canadian designer and writer who has worked for himself for most of his career. He co-founded the privacy-focused web analytics tool Fathom.

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