Insights from ‘Company of One’ by Paul Jarvis

Question 1

According to Inc. magazine, what percentage of the fastest-growing companies faced major challenges or went out of business after eight years?

Answer 1

Over two-thirds

Question 2

Why do 74% of high-growth startups fail, according to a study of 3,200 startups?

Answer 2

Because they scaled up too quickly, not due to competition or poor business plans.

Question 3

True or False: To operate as a ‘Company of One,’ a business must be run by a single person.

Answer 3

False

Question 4

What is the main focus of a ‘Company of One’ in terms of growth?

Answer 4

Better, not bigger

Question 5

How does focusing obsessively on growth compare to a dangerous game, according to Jarvis?

Answer 5

It’s like Russian Roulette, risking survival in face of recessions or disruptive technologies.

Question 6

Why is a ‘Company of One’ better prepared to handle market disruptions?

Answer 6

Because it aims for profitability quickly, prioritizing quality and increased profit margins.

Question 7

Fill in the blank: A ‘Company of One’ focuses on customer _____ rather than mass marketing.

Answer 7

retention

Question 8

What marketing strategy is compared to a ‘pickup artist’ in ‘Company of One’?

Answer 8

Mass marketing campaigns aimed at quick customer acquisition rather than long-term relationships.

Question 9

True or False: A ‘Company of One’ values education campaigns over traditional marketing for customer loyalty.

Answer 9

True

Question 10

Which company created ‘Pillow Talk’ to educate customers without directly promoting products?

Answer 10

Casper, the mattress company

Question 11

Fill in the blank: Educating potential customers builds ______ and empathy, fostering trust.

Answer 11

competence

Question 12

What study revealed that while 83% of customers are willing to give referrals, only a small percentage actually do so?

Answer 12

A study from Texas Tech

Question 13

What shift is essential for a ‘Company of One’ in terms of personal and business priorities?

Answer 13

Prioritizing autonomy over ego-driven growth

Question 14

What does James Clear recommend considering first when designing a business model?

Answer 14

Thinking about the type of life you want and how you want to spend your days.

Question 15

Name one rule James Clear follows to maintain autonomy in his business.

Answer 15

Products must require little to no management, and he avoids retainers or ongoing consulting work.

Question 16

What approach does Paul Jarvis suggest when facing opportunities that require growth?

Answer 16

Question them before taking them, as the ‘beast of growth’ can consume the business.

Question 17

Complete the sentence: ‘There’s only one rule for being a company of one: stay _____ to opportunities that require growth.’

Answer 17

attentive

Question 18

What might happen if a business stops questioning the need for growth, according to Paul Jarvis?

Answer 18

The business could be overwhelmed by the pursuit of growth and lose its core purpose.