How to build a startup that generates $1 million in revenue per annum?

“You do not rise to the level of your goals. You fall to the level of your systems. Your goal is your desired outcome.Your system is the collection of daily
habits that will get you there” James Clear

Any ambitious goal without a system is useless.

$1million in revenue in 12 months sounds like an impossible goal right? I know.

A system/Process of achieving a $1 million revenue:

Step1: Break down the Outcome into small actionable steps(i.e. process goals)

$1million in annual revenue means your startup has to generate $83333 in monthly revenue.

However, how do you generate $83333 per month?

you need to sell a product or service which costs $50.

This means you $83333/$50=1666 customers

Step 2: How to create a product/service which
sells for $50?

Every day focus on daily problems/frustrations
you or your friends encounter on daily basis.

For the next 30days write 3 problems you encounter every day.
In 30 days you will have 90 potential problems to solve.

Step 3: How do you find 1666 customers?

After finding an urgent problem people really need a solution for the next start of the process, you need to use reverse thinking.

In Digital marketing any successful digital ad must achieve
5% conversion rate.

Hence to get 1666 clients you need to reach 1666/5% =33320 people.

Interpretation:

To achieve $1million in annual revenue is possible,
provided you give your brain process plan.

$1millio outcome actually means you need to focus
providing VALUE or solution to 1666 people at a cost $50

Therefore 1666*$50*12= $1million

Now 1666 goal is very actionable for your brain.

Remember,
“Don’t let your 9 to 5 job stand in the way of
your 5 to 9 job” Justin Welsh

“The only thing that compounds FASTER than interest is learning “ Orrin Woodward