Seven Tips For Successfully Building A Seven-Figure Business

The youngest Canadian and Amerian male to visit all 193 UN nations. Founder of Global Degree & Mindful Media PR

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The mere idea of a high-end place that doesn’t make men feel “intrusive” and awkward when shopping for some lingerie for their wives was what motivated Roy Raymond to come up with Victoria’s Secret. Roy made around half a million dollars in the company’s first year.

But to what end? After five years of hard work (and nearing bankruptcy), Roy sold his business for a meager sum of $1 million. In the two years that followed the sale, Victoria’s Secret’s worth skyrocketed and stood at a whopping $500 million.

Roy’s story not only motivated me but made me smarter. Now, here’s mine: I have managed to build a business from the ground up, generating a seven-figure income in less than eight months, along with a capable team of 10 employees and counting. How?

Here are my seven lessons, or my success sauce, that you can learn from:

1. Always Be Pivoting (ABP)

The term “ABP” speaks to how your business should always be pivoting in a volatile, unpredictable world. Additionally, ABP speaks to the fact that a one-size-fits-all approach is never sustainable. Awareness of the latest developing trends in your specific domain is key. Stay ahead of the curve. Today, it’s Covid-19; tomorrow, it might be something else. Be prudent.

Many businesses that lacked a virtual organizational model went bankrupt overnight when the pandemic hit. In short, these businesses lacked a proper ABP strategy, and ABP is a highly effective ninja-like business technique.

2. You Are Your Team

What this phrase implies is this: Before forming your own team, you’ll have to be the one who does all the groundwork. You are a “one-man army.” You are your team.

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Remember that you’ll need to fall hard and fall fast then pick yourself back up again. Resiliency is key here. Be open to failure because winners learn from their mistakes and have the desire and stamina to see things through, even in the toughest of days.

3. Remember The 80/20 Rule

This rule is all about identifying your firm’s best assets and then using those assets as efficiently as possible for the best possible outcomes. Twenty percent of effort leads to 80% of the outcome.

For instance, by incorporating the 80/20 rule, I was able to pinpoint and enhance five different aspects of my business, which then went on to produce outstanding results for me. Obviously, that doesn’t mean you ignore all the other factors that are faring well for your business. Also, I noticed the top 20% of clients generate 80% of the income, and the bottom 20% of clients generate 80% of the headache!

4. Make Sure Your Clients Win

One of the keys to running a seven-figure business is to ensure that your clientele always wins and succeeds. Developing long-lasting work relationships and creating win-win scenarios for my clients have always been at the forefront of my agendas. Firms that are motivated through monetary gains alone never succeed in the long run. In fact, such companies fail and die fast.

5. Look And Feel Your Best For Zoom Calls

I’ll start off by saying this: Look the part, sound the part, dress the part. What you want for your future, you must implement in the now (Zoom calls, too!).

I have always taken great care before appearing on a Zoom call. In fact, I have never looked shabby on any of my webinars or conference calls, and my team can definitely vouch for me on that. Besides, the first impression is the last, they say.

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6. Love Your Job

You can ask for anything in this life as long as you serve others first. Startups can be a whirlwind, so just make sure you love what you do! Etch this in your mind; it is etched into mine. Be passionate about what you do. Be a problem solver. Remember, money is a byproduct that comes flowing along when you’re in love with your work.

7. Surround Yourself With Winners

I’d like to quote George Bernard Shaw here, who stated “People who say it cannot be done should not interrupt those who are doing it.” In short, that’s all the negative ones are capable of.

On the contrary, Robert Schuller is known to have said, “It takes but one positive thought when given a chance to survive and thrive to overpower an entire army of negative thoughts.” Such is the amazing power of a single positive thought. Imagine what you’d be able to achieve if you surrounded yourself with individuals who harbored and embodied nothing but positivity?

To Conclude

Whether you’re a first-time entrepreneur or an experienced business owner looking to step up your game, make sure you apply all of these lessons for high-performance gains. The pandemic has made all businesses go back to square one and reinvent themselves, so now is your time to shine!

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?

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