Is it really easier to continue climbing after reaching the first 100,000 milestone? And what about reaching 7 figures? Let’s dive into the journey of success and growth. #Success #Growth #FinancialGoals #MilestoneAchieved
Breaking Down Success Milestones
– Is the first 100,000 really the hardest?
– Does reaching 7 figures signify a new level of ease or challenges?
Exploring the Path to Financial Success
– The significance of reaching milestones in your journey
– Strategies for continuing to climb after initial success
– Realistic expectations for continued growth
By understanding the challenges and opportunities that come with success milestones, we can navigate our path with confidence and determination. Let’s keep pushing forward towards our goals! #FinancialSuccess #Motivation #KeepClimbing
The first $1m is the hardest, if you ask me. $100k has been relatively easy for almost all of my businesses. The million mark takes a lot of blood, sweat, and tears it seems, even after you’ve done it a few times (though certainly easier than the first).
Depends alot on your model. For us, 100K can be 1 or 2 clients, which makes it quite easy.
First 1M is tough, but was not crazy for us, we found ourselves there naturally.
What *is* tough, is as you grow to decrease the risk you have by having large clients become a smaller part of your portfolio. at one time we realized one client accounted for over 60% of our revenue.
Previously I thought it was the amount of money that was hard, now I focus more on the amount of clients we have, retention and upselling. I sleep much better knowing no client can take away more than 20 or 30 percent of our revenue in one hit.
Hey OP I started selling toys in ebay 5 years ago I started with $500.. I reached $100k in savings just a couple of months ago though I have like $130k+ in inventory right now that hasn’t sold yet..
Now the hard part is scaling it to 1M not sure how to go from there to be honest. Cause ebay is just exhausting you basically work 24/7..
Invested money roughly doubles every 7 years.
Business wise, starting from scratch with no customers, and limited resources is much harder. It gets easier as long as your business/niche isn’t dying or having increased competition.
I feel the first 1M is easy. Its getting to 5M-10M a year that gets harder.
I think it completely depends on the business modelÂ
Some business might be a complete grind to get to 100k but after that it benefits from exponential growth (network effect, word of mouth)
Others may be quite easy to get to 100k but scaling to 1 million becomes more difficult if the business only scales via more man power which make things more complex (service based business)
There’s also a case where someone finds success in a really small niche but realistically the revenue earning potential is capped. In those cases it would be impossible to scale to 1 millionÂ
OP do you mean gross revenue or personal gain? People are talking about different things here I feel.
Gross revenue the first 100k definitely hardest. The reason is no matter how lean you can’t really afford staff before this.
Personal gain the first million definitely hardest. The reason being it usually requires an exit event.
Million harder haha,
100k isn’t that bad.
500k is when I saw things takeoff
It’s bound to get harder and harder because there are fewer and few people that make the higher amounts.
For me, my job got me to $100k easily. It took me 20 years to get to $1 million. It wasn’t particularly easy or hard. It was just a slow and steady growth. Hoping to get to $2 million a lot faster.
By the comments you can see every level is hard.
Yes, that’s how compounding works.
Here’s a pretty good explainer video of why it gets easier after the first $100K. https://youtu.be/LQNGekNzaus?si=uUIi_5gPr4g2H-eZ
TLDR; has to do with math and compounding.
First year we made $250K ARR but that all went to employees so we lost money and I took no pay. It took 4 years to hit $1M and I was only paying myself min wage for 60 – 100 hour weeks.
After that we doubled (or close to it) revenue every year. It definitely got easier and took 8 years to go from $1M to $100M.
They don’t say this at all.
The saying is the first million is the hardest.
I think each 10x is hard. 100,1000,10000,1000000
Going from 100k to 200k is fairly easy (you know what works, do that again with experience/contacts). Making it 10x without 10x the time and effort is hard.
100k is fairly easy with high ticket, but generating it per month is way harder since everyday a new face shows up with ridicoulus claims and you need to stay relevant because the “new” effect vanishes.
Getting clients first with ads is easy, a few times 100k is possible
But Keeping Clients and make 100k+ monthly by upsells etc, well ads don’t help at all
At this point all your marketing does your product and this is why so many fail within 1 to 3 years with their high ticket offer and restart by changing their whole offer, because their products SUCK
Charlie said that forever ago it’s prob more like 300k now