We’ve identified four stages that all online business owners—coaches, consultants, service providers, and others—go through on their path to $1m and beyond:
1You’re just trying to find the thing that you want to do and that people want from you. Most people solve this by the time they get to about $5k-$10k per month, but some later, some sooner. The solution here is experimentation.
2You now turn your attention to figuring out how to sell (and deliver) the thing that you’ve got: profitably, scalably and easily. The solution here is to solidify your foundation, and it will usually get you to around $15-20k per month.
3Next, you need to sort out the inside of your business so it works as well as it looks like it does from the outside, and isn’t just duct-taped together. This stage is often the hardest, and the solution is to structure your business for sustainable scale.
4Finally, you’re ready to start hitting your $1m+ annual revenue goals. It’s time to scale.