I believe to go from 0 to 1 Million, your focus should be 2 parts:
Part 1 – Get new buyers
Part 2 – Get buyers to repeat purchase
Because if only the 1st part work well, it means you are superb in marketing but the product suck.
Likewise if only the 2nd part works well, your product is great but lacks marketing strategy to get more buyers.
If both 1 and 2 is working well and hit 1M, you have a nice Product Market Fit (PMF)
But what’s next? The scale phase is then reliant on Team, Marketing, Connections (TMC) to hopefully go from 1M to 10M
1: Team
The team builds the product and improve it along the way.
3 key areas to build a strong team:
Area 1: Hire A players. Because they will up the game in your company and A players attract A players.
A players have 2 traits, 1st is competence and 2nd is similar core values. So in a way, defining an A player is different for company.
Area 2: A big vision for the team. A vision that gets them excited to come to work. Also have 1 to 1 with team members to understand their motivation and how this fits into the big vision
Area 3: Set high standards. This can be done via accountability chart, core values and weekly meeting with the team.
2: Marketing
Marketing makes customers take action at scale.
3 key areas to focus:
Area 1: Positioning. How can your brand stand out and be unique? Avoid a “me too” brand.
Area 2: Ads. How to run persuasive ads that can be profitable so you can reinvest the profits back to the ads to build a big business.
Area 3: Organic content. While ads are great, organic content gives you free traffic. The best organic content are addressing common FAQs about topics in your business in a fun and educational way without selling.
3: Connections
Great connections make things easier or unnecessary.
Imagine you can solve things with just 1 phone call! That’s the power of connections
I find that powerful connections are built over time as it takes time to compound Trust and Familiarity.
Accelerate this with 1 to 1 meals to find the common interests and think how can you provide value to this person before asking for something.
Conclusion
Combine TMC together and you should see the business scaling well!
