Episode #689
7 Essentials to Building a Million Dollar Business 
June 20, 2018

In episode #689, Eric and Neil count out the essentials to building a million dollar business. Tune in to hear what steps you should take to achieve success.

TIME-STAMPED SHOW NOTES:

  • [00:27] Today’s Topic: 7 Essentials to Building a Million Dollar Business
  • [00:38] 1: You have to have something that people actually want.
  • [00:54] 2: Go out there and find all the competitors and hit up their customer list; offer the same product to them for less.
  • [01:25] When you’re starting off, you don’t have as many expenses and you can do free or low-cost work.
  • [01:48] 3: Having a great team is the most important facet of any company.
  • [02:00] Read the book Who? to learn how to build a great team.
  • [02:11] 4: Get an office!
  • [02:35] Having a physical location makes communication easy and it is helpful when building a solid team.
  • [03:22] When Singlegrain was starting, they left an office space, but things got much easier once they all moved back into the same office space.
  • [03:40] 5: Become a media company.
  • [04:08] 6: You have to have upsells and downsells.
  • [04:18] Stop trying to close new sales and focus on existing customers.
  • [04:48] Marketing costs are lower and profit margins are higher.
  • [05:00] 7: Focus in on one marketing channel.
  • [05:10] Trying to do too many things at once will kill your business.
  • [05:25] That’s all for now!
  • [05:27] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!

Leave some feedback:

  • What should we talk about next? Please let us know in the comments below.
  • Did you enjoy this episode? If so, please leave a short review.

Connect with us:

Discover Latest Episodes

Episode
5 Tools to Help Scale Up Your Content Production #2300
December 06, 2022

In episode #2300, we share five tools that can help you scale your content production! If you are looking to save time, improve your materials, and keep moving forward, you have come to the right plac...

Episode
Do White Papers and Webinars Still Work? #2299
December 05, 2022

In episode #2299, we talk about whether white papers and webinars still work! Moving into the new year, we wanted to share some of our thoughts on the efficacy of these two avenues, and our approach t...

Episode
Eric’s Content Plan for 2023 #2298
December 04, 2022

In episode #2298, we speak about Eric's content plan for next year. From more conference appearances to finding a configuration that suits your exact business, there are a number of useful ideas that ...