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and get awesome tips to help you build and maintain a healthy business - ALL FREE

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Introduction

There are many business owners who struggle to make enough money to survive, and
the majority will close their doors in less than 24 months after starting up. Since it is
most peoples dream to be their own boss and make their own schedule, it only made
sense that I created a guide that people can follow to gauge what they are doing (or
not doing) in order to grow their business to over $1 million in revenue.

Having built several 7-figure businesses of my own like Secret Consulting and VIP
Motoring and having been a consultant on many other businesses both online and
offline, I have seen that when a business reaches or surpasses the $1 million mark in
revenue, it has a 80% greater chance of survival.

The momentum is part of the reason, and the other reason is based on the idea that
the owner or CEOs belief increases significantly as well, which helps push him or her
harder towards growth rather than just survival.

Here are 10 universal steps that can help you build a $1+ million business.

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Who is Pejman Ghadimi?

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1 - Fix the Mindset

Before you actually start a business, you need to be in the right state of mind. Your
expectations and your actions need to be aligned, but more importantly, you need to
understand what you are about to do and the challenges you are about to face. The
biggest mistake people make in terms of understanding themselves as it relates to the
business is the focus on revenue before the business even starts. Everyone wants to
worry about what they will spend and what they will make rather than on the business
itself.

This constitutes over 70% of all failures because the goal in business is to turn a profit,
but the role of the business owner or CEO is not to focus on how to do that, but rather
focus on the objective of the business.

If you were to open a Greek restaurant then your goal shouldnt be to be profitable
right away, but it should be how to be the best Greek restaurant in the area. Then
convert that success to ensure youre able to balance profitability and growth.

By shifting your priority, you are not so mentally focused on the money aspect of the
business during the startup phase and are able to measure your growth based on your
true mission instead of revenue.

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This is the simplest, yet most important differentiator between those who succeed and
those who fail. The mindset preparation needs to be focused on separating your
business goals and revenue goals and more importantly, disconnect your personal
emotions from money. This can be very difficult, but in Third Circle Theory there is a
breakdown of awareness and perspective training. Prepare the mind so that it doesnt
play tricks on you and forces your decision-making during the rough roads ahead.

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2 - Increase Awareness

Once your mindset has been fixed comes the time to understand your environment.
Yes, thats right, your environment plays a significant role in your future success, and it
has nothing to do with hindering or pushing you forward towards your goals. Instead,
increasing your awareness is about identifying how to read your environment:
understanding the idea of perception and the ability to recognize reality from
marketing.

As simple as this sounds, you have no idea how many people get into businesses or
industries assuming they understand it based on what someone told them or made
them believe. Their decision to pursue a business is based upon assumptions of a
manipulated reality that doesnt exist.

How many times do we see the results of the work and somehow miss the ten or more
years it took that person to get there? Differentiating the facts from what we are shown
plays a very big role in feeding our belief system, and that begins with awareness.

In order to understand business, you need to be immersed in it; not looking from the
outside in. Being involved in someone elses business and seeing the real challenges
and the real frustrations that occur on a day-to-day basis helps boost awareness
tremendously. Hearing about success is encouraging, but being involved in the
struggle enables clarity and enhanced awareness. Even if you are still unsure of the

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industry you want to be in, it holds weight to still work in various startups that deal with
different aspects of manufacturing, marketing, and team building.

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3 - Find Skills

There are three sets of skills someone needs to understand in order to successfully run
a business: operational management, team leadership, and salesmanship. A business
owner or CEO doesnt have to be an expert or a jack-of-all-trades, but should be
skilled enough to navigate all aspects of these three. No matter what stage you are at
in starting your venture, it is key to practice these three things prior to jumping into a
business venture.

Operational management will vary based on industry and business type, but the idea is
understanding how processes are formed within businesses whether its manufacturing
or logistical in nature.

Understanding team leadership is also equally as important, because no great

business was ever built by a single person; it is always the collective effort of people
following great leadership and a vision. Understanding how to manage people and
push them to become experts at what they are best at is a skill that many successful
business owners will say attributed to their success or growth.

The final skill which holds just as much if not more weight is the understanding of how
to sell something, which encompasses the ability to market to sell. No matter what
business or industry you are in, you will have to learn how to sell your ideas to people,
consumers, partners, and just about everyone else you encounter. Many people

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believe they can sell anything to anyone, because they may have had success in the
past in a sales role; but true salesmanship is far more powerful than just selling a
product. The idea of salesmanship is the ability to persuade someone that they are
making a decision to buy what youre offering, rather than being forced to buy
something.

Let that sink in a bit, and it may make you realize that learning to sell a product doesnt
make you a powerful salesman.

Understanding these three skills is a good place to start to ensure that you are
equipped with the basic necessities for building a business in the next five years.

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4 - Cultivate Skill into Talent

As we discussed in the first section about mindset, one of the biggest issues a new
business owner faces is the focus on money rather than the mission itself. One piece
often missing in many failing businesses is a lack of talent in the business. Most people
can get good at something by practicing, but a niche or talent cant be found through
practicing. A talent is a mastered skill that allows us to gain a competitive edge by
being the best at what we do. The goal of any business is always to have a why we
are in business, and it is often related to such a talent.

Let me clarify this for you in a manner that may resonate: a cook who is fantastic at
cooking steaks at home shouldnt open a restaurant just because he knows how to grill
a steak better than his neighbors. A chef or someone who is always experimenting with
food, has a passion for trying new things, and is always creating new delicious recipes
is a much better candidate for owning a restaurant. When consumers go out to eat,
they are going for the experience and the ability to get something they cant get at
home; not just a replacement of meals. This is typically why many restaurant owners
close their doors early: it isnt because of their inability to market; rather that they are
great cooks, but not incredible chefs.

If you become very talented at one thing, then consumers will want to pay you more
money to perform. The same can be said about magicians, engineers, or any other
profession. Those with talents typically go further in life whether they are working for

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others or themselves, and the best part is that such talent is typically yours to keep
forever regardless of your immediate ability to monetize it.

The residual value created in entrepreneurship is who you become, and this is the first
phase of it. Outside of your core talent, which will be the driving force for your
business, you must also learn to become talented in one of the three areas discussed
in the previous section. This will allow you to understand not only where your business
talent lies, but also in your ability to surround yourself with great people who are
equally or more talented than you in the areas you lack or fall short. In 90% of
successful business cases, the success isnt attributed to one person, but a team of
talented people led by a common vision.

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5 - Discover Passion

This step is subjective as many people will tell you that you dont need passion to build
a successful business, and I myself am living proof of that. My first two businesses
were not based on passion, but instead on an intricate understanding of value creation.

So is passion needed? It definitely helps a lot, but isnt mandatory; it really depends on
how self-motivated, aware, and driven you are, and how well you know yourself (as I
break down in Third Circle Theory). Passion is what keeps you going and keeps you
rethinking your approach when the previous ten times didnt work.

Most people who work in an industry or in a business they are not very passionate
about will likely give up faster than those who work in something they believe in and
love. This is especially true in early phases when there is no profit and no big revenue.
Since money is the main motivator, the drive to keep going can die quickly if it doesnt
manifest quickly enough.

Whatever your passion is, whether it be cars, music, or sports; start getting involved
now even if its not directly tied to your business. I have always enjoyed helping others
grow and find their potential, and even though my first two businesses didnt have
anything to do with that, I still found a way to do what I liked by starting a blog and
helping others for free. Doing so allowed me to work an hour or so each day on what
mattered to me, and later on that small idea became another 8-figure business.

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Never underestimate the power of self-motivation. If you are passionate about certain
things, look there first as there may be many ways to work within the industry even if
youre not directly doing what you love.

A simple example would be someone who loves reading and writing books working at
a publishing house, because he or she may not be ready to write or bring a best-seller
to life just yet. This will not only help you bring other peoples work to life, but will also
help you understand the process of bringing your own book to life over time.

There is a difference between love and passion, and its very important to understand
this difference. Love is a very strong word, and so is passion, but we experience love
far more than passion.

I may love cars, but I don't find happiness being around them every second of the day
-- even if that means never being able to drive them.

Passion, just like love, starts with an emotional reaction, but where it differentiates from
love is when it requires you to take action, create change, or simply remain involved.
That is why it is important to be passionate about the line of business you embark on,
as passion becomes the fuel needed to keep getting up after each failure.

While both traits share many similarities, it is important to understand which emotion
we are feeling in order to be able to make sure we do not follow dead leads.

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6 - Link Talent and Passion to Create Belief

Once you figure out what your talents are and are able to understand how to link that
talent to something you love or feel passionate about, then you can reinforce your
belief. While passion isnt an obligation in reaching success, belief certainly is. What
your brain deems to be possible is much more likely to happen than when you go into
something without belief. The fact that you believe also allows you to feel a sense of
purpose which typically pushes your limitation further than your immediate abilities.

Simply put, while your abilities at this moment may not be in line with a $1 million
business, your belief allows you to adapt and work quickly to extend your ability to the
necessary level to see your journey to the end.

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7 - Conceptualize an Idea

We all have ideas, but great ideas are not enough to start a business. This is why many
ideas often go unnoticed or are never actually acted upon; a great idea is different from
the right idea. The difference between the two is your readiness and ability to act upon
them backed by your belief that youre willing to do so. The right idea is the one that
you can conceptualize in your head in a rational way, rather than an emotional one.
While belief and passion are derived from emotions, the logical approach to business
enables you to cover any gaps that would be overlooked by your burning desire to get
started.

In order to conceptualize an idea, you must be able to break down the idea into two
phases.

The first phase should be the understanding of the industry, market, and the
adaptation of the market. This is a simple process where you can decide if there is
indeed a need or demand for such an idea. You can do so through crowdfunding:
putting up a sales page before building a product to see if others are willing to pay for
your service or product. Every product or service either solves a problem or improves
an existing solution. Either way, it is important to confirm if there is a market for such a
solution. All too often, we make assumptions that if an existing solution exists, then
there must be a market; but do we really understand how our idea will play into the
market? This goes back to our second point of growing a higher level of awareness.

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The second phase of conceptualization is based upon a simple financial calculation.

Most business owners, believe it or not, never actually understand anything about
financial goals or projections. As simple as you may think this process is, it is often
overlooked. Everyone wants to make a $1 million in revenue, but no one understands
what that means to them. If you sell a product for $100, and it costs you $10 to make,
then you should know how many units you need to sell in order to payoff your basic
expenses and be profitable. You should easily know what it will cost you per week,
month, or year, and how long you can survive without any sales. Your goal shouldnt
be to conceptualize a perfect idea, but instead a product that would be good enough
to bring to market while you continuously strive to perfect the product and the way you
market it. Once the roadmap is set and makes sense, then the next step is to get
started.

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8 - Bring Idea to Life

Believe it or not, creating a product or service is by far the easiest part of the equation.
You dont need technical skills or manufacturing experience regardless of what you
create. The building process is a very black-and-white process, as we described in the
Secret Academy where a 16-year-old we coached was able to manufacture a product
with no money or experience and scale it to $40,000 a month in sales. He even pointed
out that the easiest part of the entire process was the product creation itself.

Bringing an idea to life is simply a game of patience coupled with a high level of testing
to ensure it works or meets quality standards.

If you are opening a restaurant, this could be your menu and how you bring it to life.
While you can just choose what to cook, there needs to be a process as to what goes
on your menu and what you choose to be known for. Its no different than creating a
physical product which will go through many versions before one is good enough to
sell to the public itself. The difference between a failing business and one that is
positioned right from the start to break $1 million in revenue is the significant focus on
quality.

Great companies create great products and stand behind them to ensure a great
experience. Businesses with no future just build a product assuming it will sell. Think of
the difference between the two: either one could be profitable up front as the

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marketing efforts of both may be equal, but the ones whose focus is on quality and
experience will typically be the one who be able to create a residual base of customers
which translates to income as well as create great relationships along the way. The
clients will not only play a bigger role in giving you feedback, but will also be more
forgiving of defective products knowing you are trying to build a great product.
Creating a strong sense of community will lead to a lasting customer base and a
network that can help you sell more of your product, services, or bring attention to the
brand.

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9 - Create a Process for Growth

Growing a business is the hardest part of owning a business. Your chances for
success are far more likely if you followed our first eight steps in order. Since the
process involves a ton of trial and error, it only makes sense that your mind needs to
be trained so your ability to be fearless and true in the process itself is still there even if
results dont come as quickly as you wish.

Growing a business is much more than just marketing it. It involves marketing,
networking, partnering, distributing, and adapting. None of these things by themselves
are enough to successfully grow a business; you need a combination of all the above.
This guide isnt focused on one particular type of business, but businesses as a whole
so its difficult to give you all the answers on how to do each of these things.

Instead, I am going to walk you through the process of understanding each element
and how to reflect on the efficiency of your practices currently and in the future as it
comes time for you to market.

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10 - Scale using Multiple Verticals

There is a saying out there that every millionaire has seven sources of income, which
may lead people to quickly believe that as soon as your one business is profitable then
the next few have to be initiated. It may be true that wealth isnt made by having a
conventional income from one place, but it also shouldnt be your first priority to jump
ship either.

Instead, I want you to rewire how you think of your revenue today. A profitable
business, even if not $1 million in revenue yet, has what I call leverage; meaning that
the majority of its income isnt spent on survival, but instead spent on growth. Scaling
a business is very different than growing a business; it often requires business thinking
to evolve to brand building. Brands are more than just product sales, and they have a
value on their own. Long after a product isnt popular anymore, a brand has the
opportunity to introduce new products and service for its users.

When you scale a business, you are looking for more verticals to conquer in the same
industry. A wealthy business has seven verticals of revenue allowing it to continue
growing despite changes in economic climate, consumer behaviors, and all the things
you never see coming in business. Revenue verticals are not that hard to find, and in
most cases the business is already involved in 2-3 before the owner even realizes it.

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Let me give you examples of verticals using major companies you may know already.
Apple sells phones, but it also sells apps, accessories for those same phones, etc.
These are examples of product related verticals.

McDonald's seems to be a just another fast food restaurant, but in reality its a real
estate empire. It leverages location to create significant revenue.

The idea isnt to create a new business within your business over and over again, but
rather to find a new way to recycle customers or resources so that you can generate
twice the income with half the work. The ability to duplicate this concept across
multiple verticals allows stability and faster growth without an increase in expenses.

A simpler example offline could be a restaurant that is known for its incredible ice
cream desserts licensing just the ice cream part of their business to be sold at other
restaurants. The same restaurant can also possibly be converted to do weddings and
receptions if it is beautiful in nature or if space permits. Its still being used for
consumers daily, but on occasion bringing in bigger revenue by being rented out to
others.

The most important aspect of scaling is to not create too many streams too early. You
dont want to disturb whats working by cutting your attention away too early or
spreading your resources thin and sacrificing quality.

Building a legitimate business takes time, and the hundreds of mentors and Academy
teachers in the Secret Academy will all agree that none of their success came
overnight; all of their success was a result of the combination of the majority of these
steps.

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