An overview of the book 12 Months to $1 Million. How to Pick a Winning Product, Build a Real Business, and become a Seven-Figure Entrepreneur by Ryan Daniel Moran.
THE GOLDEN NUGGET
So let’s assume you decide to launch your own business after getting the entrepreneurial itch. That will give you the freedom to act independently and make decisions, right? Yes, it is possible as long as you understand that being an entrepreneur is a lifelong adventure rather than a standard 9 to 5 job.
In actuality, if you’re willing to put in more effort than ever, you may start a brand-new company from scratch, grow its sales to a million dollars, and then sell it for a tidy profit all inside a year.
How? Your year-long entrepreneurial journey will resemble this:
12 Months to $1 Million. The GRIND – Months 1 – 4; The GROWTH – Months 5 – 9; The GOLD – Months 10 – 12
It is possible to grow a company from nothing to one million in a year and then sell it for a tidy profit by following a reliable and repeatable 10-step roadmap. It is possible because of the special fusion of social media and e-commerce that exists right now. The approach works, but you must fully commit to putting it into practice.
There is no game more challenging and rewarding than entrepreneurship. At the foundation of every successful business is one entrepreneur who is willing to put it all on the line and take the company to its first million. When change happens and wealth is created, there’s always one person who puts it on his or her back and takes it on as a challenge.
I live to empower that person. Contrary to what you might hear in the media, profit-driven capitalists create the greatest change in this world. I believe in this ethos so strongly that I personally invest in the businesses my students and friends start; I want to be part of the change these entrepreneurs create.
– RYAN MORAN
THE ROADMAP TO $1 MILLION
1. THE GRIND (MONTHS 1-4)
Until you can sustainably make at least twenty-five sales per day on your first product, you’re in the grind. You must act rapidly and bravely when you first begin in order to get there as soon as humanly possible. Recognize that you won’t always get things right. Speed is your friend in the Grind. Every sale is highly important. Concentrate on gaining 1,000 followers, at least 20 reviews on product #1, and 25 sales per day.
2. THE GROWTH (MONTHS 5-9)
The snowball is beginning to gather momentum at this point. You should then roll out as many other items as you can manage once you get product #1 up to a steady twenty-five sales each day. Just make sure you’re introducing additional items to the same market as your original one rather than trying to catch every rainbow. Due to the fact that you won’t have to make as many choices this time, momentum will gather swiftly. Keep things simple and focused; resist becoming sidetracked.
3. THE GOLD (MONTHS 10-12)
You may now begin experimenting with various forms of advertising to see what actually works for the kind of goods you are selling. This is also the point at which you can start earning money for yourself and transition into a true full-time businessperson. Your task is to increase sales, locate a buyer, and leave with a windfall of at least six figures so you can repeat the process.
POINTS TO REMEMBER
- Starting a million dollar business in a year is not a quick way to get rich. For attaining it, a reliable and methodical roadmap exists. The main point is that you should put your attention on the clients you wish to work with rather than just your goods or services. The revenues will come in if you can find better and better ways to assist your target clients by providing them with more products that aid in their trip.
- Your brand, not your company’s revenue, is the actual payoff in creating a million-dollar firm. When you sell the brand you’ve developed over the course of a year while you develop your million-dollar firm, you’ll receive the highest compensation. The advantages are there, obviously.
If you have three to five products, at an average price point of $30 per unit, each selling twenty-five to thirty units per day, then you have a million-dollar business.
– RYAN MORAN
The book 12 Months to $1 Million provides a practical, repeatable 10-step plan for growing a company from nothing to $1 million while creating a brand that may be sold for further millions in the future. Excellent formula. An excellent book to read.
Author: The Pinoy Engineer
GOOD TO GREAT BOOK SUMMARY FOR FILIPINOS
In this blog, you will find the Best Book Summaries and Productivity Tips in Taglish (Tagalog-English) made specifically and exclusively for Pinoys in and out of the Philippines tulad mo, Kabayan. Self-improvement reading is one of the most productive things to do.
GOLDEN OPPORTUNITY FOR PINOYS
Sabi nga ni Jim Rohn – “Ang pagkakaiba sa pagitan ng kung nasaan ka ngayon at kung nasaan ka limang taon mula ngayon ay makikita sa kalidad ng mga librong babasahin mo”.
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