The opinions expressed by the employees of Entrepreneur are personal.
Have you ever wondered how it feels to earn a million dollars? I will not lie: the first million that my company generated in sales was something surreal. Especially because, two years before, I was bankrupt, owed a lot of money and slept in my sister's chair. And, to be honest, the great dream I had had for so long had not turned out as I expected.
I just needed to change certain things so that what I really wanted happened. Once I made the necessary adjustments, it already made sense to me how to build an online business. This is my way; my experience. But it is not the only way to do it. And anyone can do it if they can put the pieces in the right places.
That's how I earned my first million dollars, even though I had no money to start with:
- Start with something you're passionate about
Do not think about creating money or the lifestyle you want to have; this is the recipe to failure. Passion is the key to success in any business. The emotion for what I liked allowed me to go ahead and work hours and hours. Without this emotion I would never have achieved it.
I started with sports. I loved them (I was a footballer) and I was interested in learning from them. So I created my Sports Networker site. I started using a lot of LinkedIn to promote myself and connect with the influential people in the sector, to make events and make webinars to earn money.
- Find mentors
Finding mentors is key to your growth and acceleration. Learn as much as you can from the people you admire in the online world, both for their work and for their lifestyle. I did everything possible to confront these people: I worked for free and offered them value, which is why they were willing to help me later.
You must also invest in your online education; This does not require a lot of money, but rather time and dedication. I invested in overcoming my main fear: speaking in public, which I learned to overcome. I attended many events where I learned things from the experts and met many key people for my company.
Do not stop investing in yourself; buy products that help you grow personally and professionally, such as books, workshops, etc. And, finally, join a community where people help each other, collaborate and learn from each other.
- Build your audience
The most important thing before creating a site is to create a list: a database of people who might be interested in what you sell.
This can be achieved through the guest blogging (find the relevant sites for your audience, and write for them), a fan page or a very basic site. Give people something of value for free: a video, a tutorial, an article, whatever. Without a list, you have nothing.
- Learn about sales and marketing
Sell, sell, sell. To earn your first million you need to sell; and for that you have to learn, strive, find mentors and understand sales. You do not have to be an expert in marketing, you just need to define how to communicate your message and how to make people understand the benefit that your product or service offers.
For me, the webinars worked perfectly. This helped me to eliminate my fear of speaking in public and to understand the keys to selling one by one.
Build your credibility
To grow your business, you must build credibility (in your business and as an entrepreneur). In my case, I wrote several books about LinkedIn, webinars and marketing, which allowed me to get to know and develop credibility as an entrepreneur. I write a lot for other sites and magazines, which gives me brand credibility. I also made a podcast to add value, at the same time it helped my credibility grow.Be constant
Nobody is going to give you a million dollars. It took me several months of endless work weeks to get it. And this is related to point number one: if you are not passionate about something, you will not work for it tirelessly. The only key to success is to work and be constant.