What You Should Do after Your Business Reaches $1MM in Revenue

Q: Is it time to record your first million in revenue?

You're on the cusp of a business milestone: your first year to post $1 million in revenue. Time to celebrate. But better keep the party short as you now have to gear up for a new and probably more challenging phase in your career as an entrepreneur. Recording your first million means your business is growing and succeeding.

Q: How do you make $1 million a year in revenue?

Here’s my best advice for how to break out of each one in order to reach $1 million per year in revenue. The first job for any nascent entrepreneur is to find product-market fit — i.e., validating that clients want to pay for what you’re offering.

Q: How can a business reach its first $100,000 in revenue?

Even if they know you in another context, the trust they have in you often transfers if you have client results you can talk about (which you now do). These steps will enable your business to reach its first $100,000 in revenue. Once you’ve identified the product or service that works — often after many tries — it’s natural to double down.

Q: How much money can a 1-1 business make?

That’s a logical and necessary strategy and, with the right offering, can take you to $250,000-$300,000 in annual revenue. But when you’re providing 1-1 service, you eventually run out of time. (As the saying goes, you’re “trading time for dollars.”)

Q: Should you record your first million?

Recording your first million means your business is growing and succeeding. But as you rack up more sales and more marketplace wins, you're bound to encounter more and sometimes bigger hurdles. Chances are you'll need more people, more skills, more money and, most important of all, more patience and wisdom.

Q: Should you rethink the way you finance your business?

Be ready to rethink the way you finance your business. Chances are you started your business with the help of your personal savings or your credit card or money from friends and family. You later turned to other types of financing, including bank loans and business lines of credit.

Cash flow shortages are the number one reason businesses fail. Yes, your business is generating sales and has a steady stream of revenue coming in, but growth phases– especially rapid ones – foster cash flow troubles. During the growth phase, your business next month will be larger than it is this month. This … See more

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FAQs about What You Should Do after Your Business Reaches $1MM in Revenue Coupon?

Is it time to record your first million in revenue?

You're on the cusp of a business milestone: your first year to post $1 million in revenue. Time to celebrate. But better keep the party short as you now have to gear up for a new and probably more challenging phase in your career as an entrepreneur. Recording your first million means your business is growing and succeeding. ...

How do you make $1 million a year in revenue?

Here’s my best advice for how to break out of each one in order to reach $1 million per year in revenue. The first job for any nascent entrepreneur is to find product-market fit — i.e., validating that clients want to pay for what you’re offering. ...

How can a business reach its first $100,000 in revenue?

Even if they know you in another context, the trust they have in you often transfers if you have client results you can talk about (which you now do). These steps will enable your business to reach its first $100,000 in revenue. Once you’ve identified the product or service that works — often after many tries — it’s natural to double down. ...

How much money can a 1-1 business make?

That’s a logical and necessary strategy and, with the right offering, can take you to $250,000-$300,000 in annual revenue. But when you’re providing 1-1 service, you eventually run out of time. (As the saying goes, you’re “trading time for dollars.”) ...

Should you record your first million?

Recording your first million means your business is growing and succeeding. But as you rack up more sales and more marketplace wins, you're bound to encounter more and sometimes bigger hurdles. Chances are you'll need more people, more skills, more money and, most important of all, more patience and wisdom. ...

Should you rethink the way you finance your business?

Be ready to rethink the way you finance your business. Chances are you started your business with the help of your personal savings or your credit card or money from friends and family. You later turned to other types of financing, including bank loans and business lines of credit. ...