BUILDING A $10M BUSINESS – STARTING OUT

 

Now more than ever people are in the best position to start building businesses. However if you want to build a 10 million dollar business it is important to start out on the right path. These three tips are proven business strategies that have helped many achieve massive success.

 

  1. PARTNER WITH PEOPLE YOU TRUST

You can’t do much by yourself, creating partnerships with people is a key aspect of successful business regardless of what stage stage you are at. It is critical that you do your research when choosing people to legally partner with. Vet people on the on the quality of their character and how well you personally work with them not just their experience. You will be working closely with these people everyday and trusting them with important decisions, remember the business is only as good as its people.

 

“remember the business is only as good as its people”

  1. CREATE A CLEAR STRATEGY – KEEP IT SIMPLE

When starting out it is natural to get excited and start planning for all the challenges you want to tackle but this is one of the most common mistakes that first time businesses make. When you plan to tackle everything you usually end up not doing anything at all. In the pursuit of a $10 million dollar business people get carried away and say yes to every opportunity that presents itself, taking on too much with no real goal. When Starting out create a simple single page strategy that hones in on a core focus and target audience. Include what you want to do and how you will add value to your customers’ lives. Now that you have a clear focus you can move with certainty and purpose towards achieving very specific outcomes.

 

“create a simple single page strategy that hones in on a core focus and target audience”

  1. LEARN TO SAY NO

As you start to grow you will encounter more opportunities that start to branch out from your original goal. This is a great thing it means your business is starting to take off and you are developing your reputation however you may consider the long term implication before taking the quick cash. Look back to your original goal, how to do these clients match your original intentions, saying no to clients outside these goals will free you up to focus on your target and say yes to these opportunities.

“as the leader, it is your responsibility to look out for the well being of your team and yourself ”

 

Important factors that go into saying no are understanding how much time you have, what is the emotional cost, how much can your team manage, can you deliver success. Building a $10 million dollar business is a marathon not a sprint, as the leader, it is your responsibility to look out for the well being of your team and yourself if you want to achieve your goals.

 



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