The Power of One-Person Enterprises & Nano Payments in 2023

Happy Sunday fellow wayfinder!

Last week, we looked at AI, Nostradamus & blockchain. This week, we look at how micro/nano payments may be used by one-person enterprises in 2023.

Let's dive in.

☕️ Reading time: 8-10 minutes

As the world becomes increasingly digital, one-person businesses (OPBs) are becoming a more viable option for entrepreneurs.

These businesses, owned by single-person operators, offer freedom and flexibility in location, clients, and revenue streams.

With the rise of scalable blockchain technology and the emergence of micro/nano payments, OPBs have the potential to leverage these tools to grow and succeed in 2023 and beyond.

I know firsthand the benefits of building as an OPB. As someone who's explored being a freelancer, employee, manager, consultant, and even tech founder, I can understand all working styles and positions while working from anywhere and managing my own time.

I can also work with multiple companies and revenue streams, allowing me the freedom to choose projects that align with my values and interests instead of feeling stuck with just one.

I'm not alone in this trend - there is a growing interest in OPBs as more people seek ways to build businesses on their terms, including the likes of:

• Jordan Peterson (psychologist)

• Mr. Beast (YouTuber)

• Justin Welsh (solopreneur)

• Rob Lennon (self-published author)

• Dan Koe (solopreneur)

And yes, you could be enjoying yourself and earning more than someone with a large team, fancy office, and shareholders. Technology enables this level of efficiency.

One-person businesses have a long history, with examples dating back to ancient cultures such as ancient Rome and Egypt. Artisans and craftsmen worked independently in these societies, offering valuable services and products to their clients. These individuals were able to set their own schedules and choose their own clients, much like modern-day entrepreneurs and OPBs.

The OPB Mindset

There are three key reasons why entrepreneurs should consider an OPB mindset in the coming year.

First, working from anywhere is a game-changer for many people. With the proliferation of remote work due to COVID, and the availability of online tools, it's easier than ever to run a business from anywhere in the world.

Second, managing your own time allows you to create a work-life balance that works for you. Whether an early riser or a night owl, you can set your own schedule and work when you are most productive. Some tools I use to do this effectively include Notion and Sunsama.

Finally, working with multiple companies and revenue streams can provide financial stability and diversification. This mindset is seeing many OPBs create Personal Holding Companies (PHC's) as a result:

Micro/Nano Payments & Scalable Blockchain Technology

Micro/nano payments and scalable blockchain technology can help OPBs succeed in a number of ways.

Nano payments, which are extremely small financial transactions (e.g. $0.001) — as opposed to micropayments, which are just small financial transactions (e.g. $1) — can make it easier for OPBs to do business with a wider range of clients.

For example, a freelancer might use nano payments to accept small amounts of money from multiple clients rather than relying on a few large clients for most of their income.

Scalable blockchain technology (e.g., BSV), on the other hand, can help OPBs streamline their operations and reduce costs. Significantly.

Here are some example use cases we might see more of in 2023:

1. Facilitating micropayments for online content, such as a subscription service for access to articles or videos

2. Enabling small payments for access to premium features or services

3. Allowing for seamless payments for physical goods or services in everyday life (e.g. paying for a cup of coffee or a newspaper)

4. Facilitating payments in online games or virtual worlds for in-game items or currency

5. Enabling small, recurring payments for subscription-based models (e.g. a monthly donation to a non-profit organization or a monthly subscription for a box of goods)

By using blockchain-based tools, increasing numbers of businesses will automate processes and reduce the need for intermediaries, saving time and money.

From Small Things, Big Things Come

In conclusion, one-person businesses are an exciting and viable option for entrepreneurs in 2023 and beyond. With the ability to work from anywhere, manage your own time, and work with multiple companies and revenue streams, OPBs offer a level of freedom and flexibility that is hard to beat.

It is why my word for 2023 is "micro" — for micro-payments, micro-entrepreneurs (one-person businesses), and micro-communities.

Through my primary consultancy Faiā, I'll be building a "portfolio of communities" for traditionally-run businesses exploring Web3/blockchain.

My personal brand will continue to explore the intersection of blockchain, communities, business, and ancient cultures.

By leveraging micro/nano payments and scalable blockchain technology, OPBs can better scale and succeed in the new age.

From small things, big things come.

Until next week, remember: through patience & persistence, it will come.

GeorgeTwitter | LinkedIn | Blog | Tools

Last week's premium newsletters:

• Daily #171: Just Doing You

• Daily #172: Aboriginal Nations, Penguins & Lessons

• Daily #173: The Power of Strong Communities in 2023

• Daily #174: Growing a profitable micro-community

• Daily #175: One-Person Businesses Show How You Can Build Your Own Web3 Communities

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