At the end of the day, the math is quite simple:
In order to have a $1m online business, you must be able to generate $1m in sales.
All the structures and systems in the world are meaningless if you don’t have something to sell — some way of serving people; of exchanging value for value with them.
But here’s what I’ve observed: there’s a threshold that happens at around the $250k mark for most coaches, services providers and related businesses.
For some people, it’s higher.
For some people, it’s lower.
But somewhere around that point, things suddenly start to get HARD.
You have something that’s working, but it’s only working so well.
It’s like you’re too successful to quit, but not successful enough to feel like you’ve “made it”.
The question is,
How do you get past that point?
Now, a lot of business coaches and strategists will tell you that you should create a new product.
A new way of generating revenue, on top of your $250k service or product.
After all, all you need is four products that sell $250k each and you’re at that magic $1m mark … right?
Well, yes, that’s the way the math works.
But it’s not the way that business growth works. At least not if you want to do it in a way that doesn’t drive you crazy
Think about it this way:
Think about the time, energy and resources that you have to put in place to sell $250k of a single product.
Now think about doing that four times over, for four different products.
- Four different things to market.
- Four different things to develop.
- Four different things to sell.
- Four different things to deliver.
- Four different things to iterate and improve upon.
And … you’re going to do it all with the very limited resources that you’ve currently got, you don’t HAVE the resources to go start a new product in any way OTHER than to essentially do it all yourself.
So you end up not only being the Chief Candlestick maker of the prior $250k product … but of the new ones, too. And you burn out.
And it sucks.
That’s why I want to propose an entirely different approach.
That approach, quite simply stated is as follows:
Do more of what works.
In other words, rather than asking: “what new product can I create?”
“How can we use new profit, team and customer experience structures to help us scale this core product, to the point that we could sell and deliver $1m worth of it in a year?”
Yes, to sell and deliver $1m of your core product, you’ll have to change things. You’ll have to strip away everything that isn’t working — in order to double down on what is.
But it’s in doing that, that you can unlock the ability to double the results, with half the effort.
And that means more than double the impact on your clients, your family, your team …
And on you, personally, too.