How To Make The First Million

Published by Mike Michalowicz (Google+)


Of course you want to make the first million with your business. Every entrepreneur does, but few make it. Instead of me rambling on what differentiates the wanna-be’s from the achievers, I thought it best to get the varying opinions of the TPE community. You want to achieve your first million, right? Here’s how…

1. It Ain’t Easy!

How To Make The First Million: Wow,tough question! Take no salary for yourself and do as many things yourself as possible. Research and planning in the beginning are two key components, so money is not wasted. Taking baby steps, and walking before you run are a must. Many entrepreneurs get impatient with a lot of hard work, countless hours and money invested with little return. With patience, the money will start to roll in, if a solid business plan was in place before the new venture was started.

Thanks To: Lori Reader of Loveable Look-a-Like Doll

2. Tfm

How To Make The First Million: To break through the glass ceiling of the million dollar level, I joined The First Million Club! Join now and we can celebrate our first million together!

Thanks To: Ann Farrell of Quantum Endeavors, Inc.

3. Know Where You Want To End Up!

How To Make The First Million: So many times we invest more time in planning our vacation than we do our business. A RoadMap will help you focus on that first million with a clear plan on how to get there. Your RoadMap will help you maintain focus and objectives. Keep in mind a RoadMap can be modified, just like on a road trip if something fits your vision & direction then modify the journey! Tip: Do your RoadMap in your handwriting not on the computer, you will take ownership if it is in your hand.

Thanks To: Robin Hardy of Robin Hardy Consultant

4. My Suggestion: Be A Deviant…

How To Make The First Million: Deviance is nothing more than a marked separation from the norm. It is the kind of breakthrough thinking that creates new markets and tumbles traditional ones. Looking for the next big idea for your business? Quit staring at the Social Convention for inspiration & start scouring the Fringes of society. Tomorrow’s breakthrough concept is lurking in the mind of a deviant individual. Your choice is simple: find it & exploit it, or be buried by those who do.

Thanks To: Vicki Lynne Morgan of Russmor Marketing Group

5. Uncommon Sense

How To Make The First Million: Marketing is key! However, you don’t want to follow the herd and commoditize your industry by using the same marketing tactics as your competitors. If your competition moves left, move right. If they focus on TV ads, you should go online. The best tip to reach the first million would be to use unconventional wisdom of advertising. Do your research and create a marketing plan based on solid numbers and intuition. Don’t blindly use the same mediums of advertising as your competition.

Thanks To: Mark Hall of Input Ladder

6. Promote Like Crazy

How To Make The First Million: If you really want to get on the road to making your first million, one of the best ways is to promote your business. You can’t get customers or clients, if you don’t promote.

This means engaging in marketing every single day. This means doing what it takes to get yourself exposed to those who need your product or services. Promote like crazy and you will be on your way to making your first million.

Thanks To: Harry Husted of Creating Words

7. Foolish Focus On Your Fortune

How To Make The First Million: Tattoo in your heart and mind your burning desire of your first million- see it, taste it, smell it, feel it- in each present moment as if you’ve achieved it.

No matter what anyone says, does, or doesn’t do.

No matter what happens or doesn’t happen…

Never erase this tattooed focus from your heart and mind.

Thanks To: Walt Goshert of BTZ Web

8. Persevere!!! You Can Do This!

How To Make The First Million: Persevere!That has been proven to be the most common trait among all self-made millionaires.As an entrepreneur, you’re bound to come up against hurdles, roadblocks and dead-ends for your business. Make a practical, business decision about which ones are worth jumping over and when you should just back-track and try a different route. Persevere to keep implementing your solid business plan, while being ready to tweak it as you go along. Promise to persevere, and you’ll see that first million!

Thanks To: Jenn Lederer of AFST Management

9. Your Second Million

How To Make The First Million: I once heard someone say that making the first million was too hard; so he decided he’d work on his second million instead. There must be a lesson in there for all of us.

Thanks To: Bruce Hoag of Dr Bruce Hoag

10. Make Your First Dollar

How To Make The First Million: Make your First Dollar and see what you learn from it. Then take what you learned and apply it to making two dollars and so on until you reach your first Million! Getting there is like running a marathon, you can’t just think of the finish line, you need a strategy that will break down the marathon one mile at a time. Not only do you need to focus on your goal, more importantly you need to know how to get there successfully. It’s not the fast starters that finish, it’s the smart ones.

Thanks To: Edwin Soler of Libreria Berea

11. Give More Than You Gain

How To Make The First Million: The paradox of success is that your customers must feel they’re getting more benefit than you. In other words, don’t think about how their purchase is going to make you successful. rnrnInstead focus on meeting their needs; exceeding their expectations and making them incredibly happy. Remember too that people buy what things do, not what things are.

Thanks To: Robert Ashton of Social Entrepreneur

12. How Long Is The Line?

How To Make The First Million: How Long is the Line?

The line of people. And not just any line. It’s the line of people you have served through this venture in a positive way. Imagine it to be long. Think of spreading your value, integrity and service to as many people as possible. Sometimes it relates to your product. Sometimes your service doesn’t relate. But you are always helping, always serving.

And the line of fans and loyal customers grows.

And so your first million will appear.

Thanks To: Pamela Hawley of UniversalGiving

13. Listen To Your Customers

How To Make The First Million: The biggest thing we can do as business owners, which will propel us to the first million, is to listen to our customers. Customers are the lifeblood of any organization. In an increasingly social society, through the use of free online tools, business owners can interact with customers like never before in the history of capitalism.

The first step is figuring out where your customers spend their time online, then dig into those sites and start listening to and interacting with them!

Thanks To: Ryan Taft of Catalyst Marketers

14. Niche Your Way To A Million

How To Make The First Million: With the first company I founded we made it to our first million by focusing on a niche. Trying to compete with established vendors flat-out was not working and would not have gotten us there. Instead, we zeroed in on a segment we had experience in that no one else was touching. As a result, we were really able to grab a a number of big players and not compete on cost (like everyone else was!).

Thanks To: Julie Lenzer Kirk of Path Forward International

15. Network Your Butt Off!

How To Make The First Million: Everyone knows someone, so get out there and meet as many people as you can. Research the leaders in your industry, and take them to lunch. And don’t just give them your sales pitch, but really talk to them. Find out what your potential clients read, where they go and how he or she recommends you reach them. Then ask them who you should meet with next. Not every meeting will be fruitful, but you’ll be surprised how kind people really are, and how often they are happy to help you out.

Thanks To: Bonnie Buol Ruszczyk of BBR Marketing

16. Big Bucks? Big Time!

How To Make The First Million: I’ve not yet been successful with this but: I’m convinced the way to hit millionaire-status is to
get national publicity. I know/know of several people who have done this (via an AP story, Internet exposure, Ophrah-like appearances). The shots are long but the bucks are big if your efforts pay off.

Thanks To: Marlene Caroselli of Principled Persuasion

17. Consistency & Persistency

How To Make The First Million: Be consistent in your daily activities. However small or menial they might seem, they will add up over time into successful results. Be persistent…Set goals–write them down and go for it! Success is a lot about improving ourselves from the inside out, so read, read, read, listen, listen, listen, and surround yourself with people who are like-minded and have similar goals to your own!

Thanks To: Jocelyn Wiebe of AmeriPlan

18. Slow And Steady Wins The Race

How To Make The First Million: Making your first million has never been easier thanks to the internet and the numerous ways you can connect to your customers. What hasn’t changed is that every great business is built on a sound businss model and a strong foundation. Those two things are the keys to makding your first million. Ignore them and you may make your first million, but you can bet you will just as easily lose it! Slow and Steady always win the race. Be patient grasshopper and get it right from the start.

Thanks To: Craig Wolfe of CelebriDucks

19. Don’t Do It Alone!

How To Make The First Million: Delegate, delegate, and delegate some more! Give yourself the permission and honor of working and doing what you are best at, and give others opportunity to work with you doing what they are best at to reach your business’ vision. When you’ve got a team that works from their place of “brilliance” and you are too, everyone’s time, energy and efficiency (and therefore financial resources) are multiplied and therefore, making more money faster!

Thanks To: Maruxa Murphy of Momprenaire

20. Go With The Flow!

How To Make The First Million: We all have visions for our new business, but sometimes things go in a different direction. That’s ok as long as you adapt. Entrepreneurs have to be flexible in letting their businesses go where their customers want to take them. For example, if you always dreamed of starting a hair salon but realize your customers are all asking for manicures, get a second manicurist and grow the business that way!

Thanks To: Jordan Farkas of Mr. Small Claims Court

21. The Rachel Ray Effect

How To Make The First Million: When You BEcome your own source of energy you can create your own market place. Customers we all need. More income we all enjoy & use. More freedom & free time we all dream about. However with-out the self energy to attract the proper “being” of yourself that you will “BE” to OTHER people- all is useless all erases itself. People Like me & Rachel Ray are freaks we are able to muster more time, more confidence & more energy thru OTHER people&YOU can too!

Thanks To: JoAnn Donahue of Donahue Development

22. Passion + Purpose = Profit

How To Make The First Million: Develop a business that reflects the best you have to offer. Bring your innovation, creativity, commitment; invite expert partners to help you. Communicate your services; solve problems for your clients help them be better than ever!

Where does your passion and purpose lead your? What legacy do you want to leave in the world? Listen to the quiet truth within your heart; move from inspiration to initiation and realization. Be brave, risk with awareness, share your dreams.

Thanks To: Judith Lukomski of Transitions Today Inc.

23. Hire Great Sales People

How To Make The First Million: The number 1 way I have grown my business is through hiring outstanding sales people. Investing in great sales people is the fastest way to grow your business and make your first million, second million, 10th million…

Thanks To: Peter Geisheker of The Geisheker Group Marketing Firm

24. Change Your Goals

How To Make The First Million: Most of the entrepreneurs, ask how to make first million which is not an easy thing to do.
So, I would recommend to “Change your Goals” . Change your Goal of making 1 Million to How can you increase your business 100 times, if you are already making 10,000 with your start up.

1 Million looks difficult, but 10,000 is easy and believe me once you start making 10,000 it don’t take much time to scale up by 100 times

Thanks To: Gagandeep Singh of Landing Pages

25. Go From $1 To $1 Million

How To Make The First Million: How to make a million dollars?

The best way to make 1 million dollars is to make $1.
Everyone wants to make a million and haven’t figure out the formula to make $1 dollar. Though it is great to have a lofty goal, it makes more sense to determine the right strategies and tactical implementation to create that first dollar.

If you don’t know how to create a dollar, how would you create a million?

Thanks To: Gail Turner Brown of Small Business Network TV

26. One Way Not To Lose 1 $million

How To Make The First Million:
Use this secret of every successful entrepreneur: Know the difference between a CALCULATED RISK and a GAMBLE! The former always relies on the safety net while the latter more often than not ‘addictive and habit forming’ action does not. Having a safety net is better than trying to make extra cash.
Finding your strength and sticking by it may mean taking desperate measures – but not cutting and running in the challenges amid growth rewards you with your millions.

Thanks To: Aisha Bauer of eSutras Organics

27. Stay In The Zone

How To Make The First Million: Staying focused and confident is my biggest problem and I bet it’s so for others. My tip is stay in your zone–stay true and focused on your goal and don’t let dark days or lack of confidence move you from your goal. Surround yourself with positive people, I have a “go-to” friend who is also a small business owner. She listens, laughs with me, cries with me. Get rid of the nay sayers in your life–who needs that? Lags in confidence cripple forward momentum. Stay focused and confident!

Thanks To: Sandy Wheeler of Sandy Wheeler Travel

28. Diversify At The Right Time

How To Make The First Million: How to make your first million? Stick to one service or product. Don’t diversity too soon. Spend some funds on a highly strategic and targeted marketing plan as well as research to keep you up-to-date on what’s working and what isn’t. Most of all: Remain flexible so you can make critical adjustments as your research indicates necessary.

Thanks To: Donna Ramer of StrategCations, Inc.

29. Passion Blasts Glass Ceilings

How To Make The First Million: Whether you are looking to create your first million or first hundred it is the same! Create yourself the potential for powerful actions through believing in yourself and having a passion for what you are doing. Align your values and beliefs to your visions for the future and take those powerful actions that give you tangible results and create more potential and belief. Take one step at a time and always remember to enjoy the journey one step at a time not just be focused on the destination.

Thanks To: Carol Dodsley of Choose Changes

30. Offer Big Ticket Items

How To Make The First Million: One sale of a thousand-dollar item may take as long as a sale of a five-million-dollar service or other offering. If you position yourself to sell big-ticket items, the profits from those sales will add up much sooner to earning your first million. In doing so, be sure that what you are offering is top of the line and has a competitive cost.

Thanks To: Donald Mitchell of The 400 Year Project

31. Plug In And Smile!

How To Make The First Million: One of the first things that you must do is to get your name out there. If people say “Who?” and you are promoting yourself as an expert, there is trouble. Twitter, Facebook, Vimeo, YouTube: these are the friends you must make and master. Once you have them behind you, customers will not be far behind!

Thanks To: Doula Angelita of ResurgamBirthingwell8899

32. Take The Brakes Off!

How To Make The First Million: Follow your passion, not your bank account and the money will come. You control your own governor, so let it go full steam. That’s the beauty of being an entrepreneur.

Thanks To: Christine Scioli of zan Media

33. Solve Pain And Generate Leads

How To Make The First Million: First, your business must provide a real solution to a buying market’s pain. Second, you must focus on driving high volumes of qualified prospects into your sales pipeline/process. If you are successful at these two things, it is straightforward to scale up any business to $1MM and beyond in revenues.

Thanks To: JR Rodrigues of Job Hunt Express

34. Believe, Then Proceed!

How To Make The First Million: Believe that your product is THE best product out there. You have to think it, feel it… share it. Then you have to work it. Every day is a marketing day: blog posts & comments, Facebook & LinkedIn group and individual posts & discussions, YouTube videos, microblog posts, talk about your product to everyone (Know the difference between enthusiastic and obnoxious.) Make yourself/your business known. You have to spread the word. Surround yourself with optimism! Make it Happen!

Thanks To: Dale Little of Business Strategist

35. Location Location Location

How To Make The First Million: You’ve heard it before……………. advertise your niche product or service in many locations. Homeowners have pets- do you see two areas to target? Get yourself on radio. Send a press release. Make a video. Try for interviews via any media. Think outside the box. You can be creative and have fun at the same time. Share with the world. Passion with purpose, that’s what I am talking about.

Thanks To: Carolyn Bartz of LIVING YOUR PASSION

36. Find A Need And Fill It

How To Make The First Million: Be creative, ask questions and find a NICHE and fill it. Remember its not about YOU but how you can help someone else solve their problems or make their lives and businesses easier.If you have a product or service ask yourself “how is what I do making a difference for a company and/or an individual” What benefits am I offering, what solutions am I solving. Step out of the box and be creative.

Thanks To: Robbie Motter of Robbie Motterdba Contacts Unlimited

37. First Million Is The Hardest

How To Make The First Million: Reaching the first miilion in sales in my company seemed like my hardest milestone to reach. Once we established the proper systems of business flow, from sales to delivery, and follow up this made it possible to hit our first million. If you are in an industry with smaller ticket sales, you must have solid, clearly defined systems in place for your business to flow. Once this happens and you can hit a million with this system, you are now ready for many more millions to come!

Thanks To: Matt Shoup of Shoup Consulting

38. Chief Catalyst

How To Make The First Million: Assume that the million is easy to achieve instead of hard to achieve. Fake it till you make it, baby! Remember, it may take more than you to get it. Choose your early hires wisely (contacts are really handy).

Thanks To: Renee Lewis of Pensare Group

39. One Word!

How To Make The First Million: BELIEVE!

Thanks To: Kirsten Mahoney of Insight Out Life Coaching

40. Be Visible

How To Make The First Million: Show up where you expect your prospects to be. Help them find you. It is too easy to get caught up in delivering results and forget to keep marketing. Get help on the delivery end and make sure you are visible – on the web, via email and newsletters, at trade shows and conferences. Touch people in as many ways as possible without being intrusive. And remember to ask – for leads, for business.

Thanks To: Kate Putnam of Package Machinery Co Inc

41. The Money Is In The Followup

How To Make The First Million: One of the biggest keys to making your first million online is focusing on ONE sales funnel and building a complete sales process.

You should begin your sales funnel with a low-barrier offer (such as a $1 trial or a free + shipping and handling offer). This will allow you to bring the maximum number of people possible into your sales funnel.

From there you would follow that by 1 or 2 upsells and a backend followup sequence that sells your larger packages.

Thanks To: Kim Roach of Super Affiliate Club

42. Focus On The Simple Things

How To Make The First Million: You can’t forget to do this, no matter how busy or how tough things may get. Always focus on selling, selling and than selling some more. Clients may come knocking on your door but in my case I found you have to get out there and experiment to see what works and what doesn’t in regards to selling. There is no exact way to make a million for any business and I find it comes with working on a lot of the small things to help drive sales. You need to develop a whole arsenal of selling tools.

Thanks To: Marc Anderson of TalktoCanada.com

43. Ya Gotta Build Your List

How To Make The First Million: In order to make a million you have to have a list of clients and potential clients and customers to market your services and products to. You build relationship with folks over time and it becomes natural and easy to make your offers to them. This is one activity you never let up on -build that list -it’s your gold mine!

Thanks To: Ann Ronan of Authentic Life Institute

44. Like Meets Like

How To Make The First Million: Associate with existing millionaires as you can learn far better from them than a wannabee. Find one who can mentor you if your goal is to be a millionaire.

Thanks To: Leane Hoagland-Smith of ADVANCED SYSTEMS

45. Lead A Tribe

How To Make The First Million: Make your first million by leading a community of people around a passionate cause.

Thanks To: Joseph Joel Sherman of Business Tribes

46. Squeeze The Charman!

How To Make The First Million: Hire Mike….Hire Mike then listen to Mike!

Thanks To: Jerry Pollio of CMT Creative Marketing

47. Keep Negativity At Bay

How To Make The First Million: In order to make your first million I think you should steer clear of negative people, negativity, trust your gut and hire people just as smart if not smarter than you.

Thanks To: Cindy Tollen of Sudz N Bubbles.com

48. Teach Others Your Knowledge

How To Make The First Million: Look at your life experiences whether business and/or personal. Can some or all of your experiences be packaged in the form of expertise and process and then sold as a system to the public at large? If so, start a business that provides that system. Assuming it sells and that it is duplicatable, package it in such a way that it can now be sold as a business opportunity to others. If it was profitable to you, teach them how you did it and make it profitable for them. It’s a win-win. Good luck.

Thanks To: Neil Palache of The Wealth Creator Company

49. How To Make A Million In 2010.

How To Make The First Million: Diversify your revenue stream and get published! A book will generate additional business and revenue for your company by making you an expert in your field. You will receive speaking gigs and workshop opportunities. Most importantly, you will have passive income from book sales. There is nothing better to get a report from your distributor saying your book is being sold abroad.

Thanks To: Michele Smith of 3L Publishing/M Communications

Compiled by Mike Michalowicz, Author of The Toilet Paper Entrepreneur

Category: Money & Equity, The Kick In The Ass, The Right Actions, Your Belief System
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  • http://www.inspiretovision.com Danielle Douglas

    ALL great words of wisdom. If I could add #50 to the list, it would be have an entrepreneurial mindset. You can’t make a million dollars, if you don’t think like a millionaire.

    Most small business owners think and act like “small business” owners. If an entrepreneur wants to make his first million dollars, he has to approach his business as if he is already a millionaire.

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  • http://www.identitymagazine.net Susan

    Thank you everybody! I was hesitant to submit my thoughts because I haven’t made my first million YET. I will soon thanks to these!

    • http://www.ToiletPaperEntrepreneur.com Mike Michalowicz

      @EVERYONE – Susan is one to watch. I am TELLING you, she is one to watch.

  • emma emma

    i would like to be mentored by a millionaire, pls does anyone know how i can go about it?

  • janessa

    I need your love and support lost my job and income and would like more sales growth for all my books at http://www.lulu.com/spotlight/nessa212 and also my poetry blog at http://www.poeticous.com/janessa-jordan thank you and have a nice day.:)