7 Essentials to Building a Million Dollar Business | Ep. #689

Nomzy Stholly

6 min

Investing & Markets

Description

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: <ul> <li>[00:27] Today’s Topic: 7 Essentials to Building a Million Dollar Business</li> <li>[00:38] 1: You have to have something that people actually want.</li> <li>[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.</li> <li>[01:25] When you’re starting off, you don’t have as many expenses and you can do free or low-cost work.</li> <li>[01:48] 3: Having a great team is the most important facet of any company.</li> <li>[02:00] Read the book <a href= "https://www.amazon.com/Who-Geoff-Smart/dp/0345504194"> Who?</a> to learn how to build a great team.</li> <li>[02:11] 4: Get an office!</li> <li>[02:35] Having a physical location makes communication easy and it is helpful when building a solid team.</li> <li>[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.</li> <li>[03:40] 5: Become a media company.</li> <li>[04:08] 6: You have to have upsells and downsells.</li> <li>[04:18] Stop trying to close new sales and focus on existing customers.</li> <li>[04:48] Marketing costs are low

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Episodes

7 Essentials to Building a Million Dollar Business | Ep. #689

Nomzy Stholly

6:19