Innovation

What I learned scaling from $5k to $25k per month

Freedom in business requires planning. To truly be free, entrepreneurs must completely remove themselves as a bottleneck. Here's how Michael Thomas did it

On November 6th, 2015 I boarded a flight bound for Buenos Aires, Argentina. In doing so I entered a new phase of my life. Over the last 4 months I had grown my company’s revenue from $5,000 to $25,000 per month. I had also hired a small team and freed myself from the daily operations of the business. For the first time in my life the amount of money I made was no longer tied to the hours I worked.

Freedom, was the idea that came to mind as the wheels lifted off the runway at SFO Airport.

In Part 1 of this series I wrote about the process of starting my business, SimpleData, and how I generated the first $5,000 per month in revenue. In this story I will share how I grew revenue 5x over the course of 4 months and scaled operations. Each lesson includes some backstory, practical tips, and examples you can use to scale your business.  

#1 — “You gotta be Henry fucking Ford, dude”  

Two months before I whispered the word “freedom” to myself on the flight to Argentina, I whispered a different word. Hell. It was 11pm sometime in September and I was feeling burned out.

When I quit my job to work on my business full-time I promised myself that I wouldn’t work late nights. I said I would go camping in the middle of the week. I would live the life of my dreams. But life has a way of altering seemingly flawless plans. In August I doubled revenue from $5,000 to $10,000. And as a solo-founder in a business without a scalable product offering that meant I doubled my workload.

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