From Zero to $10 Million: How Only 1 in 250 Businesses Hit Major Scale
From Zero to $10 Million: How Only 1 in 250 Businesses Hit Major Scale
Growing a business to over $10 million in annual revenue puts you in rarefied air - only 0.4% of companies ever hit this level. In this post, we'll break down the key strategies used by elite entrepreneurs to go from zero to $10 million and beyond.
Table of Contents
The Importance of Picking the Right Business Model
Leverage: Getting More Output From Your Input
Investing in Yourself Pays Much Higher Returns
Skills Are the Asset That Keeps Appreciating
Adopt an Infinite Mindset to Play the Long Game
Sales Skills Are Foundational to Growth
The Importance of Picking the Right Business Model
The first key is selecting a business model with high upside leverage potential. As Naval Ravikant says, you want to pick a boat that can take you far with your effort. Local services businesses top out lower than digital info products, for example.
Look for emerging spaces poised for growth. Don't get stuck competing in declining industries. Be willing to pivot into more scalable models once you've developed some initial skills.
Recommended: Zero to One: Notes on Startups, or How to Build the Future by Peter Thiel
Leverage: Getting More Output From Your Input
Leverage means getting exponentially more output for a similar amount of input. Code and content are powerful forms of leverage - you create or code something once that can scale to serve millions.
Study the four types of leverage: capital, code, content, and community. Look for ways to apply them in your business to get the highest returns from your time and money invested.
Investing in Yourself Pays Much Higher Returns
Investing in educating yourself provides ROI multiples far beyond typical stock market returns. $1,000 in an S&P 500 index fund grows 10% to $1,100 in a year. But $1,000 invested in sales training can boost income by $100k+, year after year.
Treat learning skills as an asset class with the highest yield. Make it a priority in how you allocate your resources. Education compounds - new skills build on each other.
Recommended: Skillshare - Online Classes & Videos
Skills Are the Asset That Keeps Appreciating
Skills pay compound interest over the long run. Each new proficiency raises your baseline potential. They can't be taken away or taxed like other assets.
Focus on transferable meta-skills like sales, speaking, marketing, product design, leadership, recruiting, etc. They apply across industries and roles.
Keep investing back into yourself even as your business scales. You're the goose that lays golden eggs.
Recommended: MasterClass | Online Classes Taught By The World's Best
Adopt an Infinite Mindset to Play the Long Game
The game of business is infinite - there is no finish line. Avoid short term scorekeeping. Play for lifelong improvement.
Build assets that compound over decades. Skills, relationships, authority, and intellectual property pay dividends for generations.
Measure progress through skills gained, not just immediate revenue. Revenue is a lagging indicator of capability built.
Sales Skills Are Foundational to Growth
You can't scale a business without sales. Get obsessive about perfecting your selling abilities above all else early on.
Sales allow you to exchange effort for money. Refine pitches, closes, handling objections - all the micro-skills. They compound on each other.
Make sales skills your "career insurance." You'll always be able to monetize them at some baseline level if you master them.
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