The Journey to an 8 Figure Business

The Journey to an 8 Figure Business

Here’s how “overnight success” looks like...

In January 2014, 7.5 years ago, I finally started my online business.

After months, 18 months to be exact, of overthinking my business idea and having a couple of false starts, I finally started - before I was ready.

I had a website and a freebie and thought that was all I needed to get my online business going. But I was missing the most important part - sales! It took me almost three months to get the first sale in - $180 on March 26, 2014.

I knew then that this would work. I just felt it in my gut that this first sale was a start of something great. I didn’t know how it would work but I knew it would. I was going to do what I needed to do to make it happen.

Without a clear strategy and without any support I was throwing spaghetti at the wall to see what would stick. I was a typical freebie hunter and not willing to invest in myself. I thought that one 8-week online course was enough.

It wasn’t. After 9 months of a lot of spaghetti on the wall and very little success I bit the bullet and got support. I started to talk to people, a lot of people, to figure out what they wanted and suddenly the sales started rolling in.

I made $55K in 3 months - after I finally started to focus on sales - instead of updating my website theme or creating another freebie. There was a mindset shift. I didn’t have an expensive hobby anymore, I had a REAL business.

I knew I couldn’t do it all on my own. On one hand I decided to always work with a coach and on the other hand I decided to build up a team. I am truly grateful for all the people I have worked with over the years - without them I wouldn’t be where I am today.

Over the years I have invested over $300K into coaching and over $3M into my team. Being SELFMADE doesn’t mean that you do it all on your own and you don’t get any coaching or have a team. It means that you started from zero and you didn’t inherit any money to start your business.?

Today my company has made over $10M. That’s not my salary. Actually I didn’t pay myself any salary for the first 3 years, I poured everything back into business and just lived through the business.

Since 2017 I have paid myself $12K a month. That is less than what I earned per month as a CEO before I started my own business. But since last year I also take out a portion of the profits as dividends.

8 figures in total revenue is a huge milestone for me. It means that an 8-figure business is within reach. And to make that happen I have just made several big investment decisions. Because without support it is not going to happen.

Next up, is to celebrate this big milestone with my team at the end of August. I celebrate every year my first sale and I celebrate every little and big milestone in my business. And today I am celebrating my “overnight success”!

What can you celebrate today?

hiliary gibson

cashier at majesty hpitality staffing

5 个月

I can't celebrate my birthday. And I don't know how I'm going to get my own online business being on a fixed income.

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