For others, a goal. A million in profit is a form of financial security-or at least the freedom to take some risks. A million in revenue is a marker point where business models are proven and investors start calling. For experienced entrepreneurs, a million dollars might be a unit they now measure in the tens or hundreds. But however many millions you have, it's always a metric of note.
On the following pages, we'll chart many paths to getting there-from founders, investors, fundraisers, and other experts. You'll learn how to build a $1 million business in a weekend, how to earn your first million tax-free, how to ask for a million dollars, and how a number of other entrepreneurs plotted and problem-solved their way there. All of it goes to show that if you haven't made a million yet, it's never out of reach.
IF ONE MILLION DOLLARS IS YOUR GOAL...
How do you make it? And what does it actually get you? The cohosts of the popular podcast
MY FIRST MILLION
(who made many multiples of that themselves) share what they've learned.
Sam Parr and Shaan Puri think in millions. They've both had notable exits for many millions (Parr sold his newsletter company The Hustle to HubSpot, and Puri sold his video streaming company Bebo to Twitch). Together, they cohost the chart-topping podcast My First Million, where they kick around business ideas with successful entrepreneurs.
Both agree: A million dollars sounds sexy, but it's not an end goal. "When you have a million bucks, you're not making tons of investments," Puri says. "You can't just live off it forever, unless you're living a really minimalist life. So you should ask the question, 'At what thresholds do things actually change, versus what are the arbitrary numbers that just sound good?""
Here, they discuss the true value of a million dollars, and the strategic path to your first million (and many more).
This story is from the May - June 2024 edition of Entrepreneur US.
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This story is from the May - June 2024 edition of Entrepreneur US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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