In episode #689, Eric and Neil count out the essentials to building a million dollar business. Tune in to hear what steps you should take to achieve success.

TIME-STAMPED SHOW NOTES:
[00:27] Today’s Topic: 7 Essentials to Building a Million Dollar Business
[00:38] 1: You have to have something that people actually want.
[00:54] 2: Go out there and find all the competitors and hit up their customer list; offer the same product to them for less.
[01:25] When you’re starting off, you don’t have as many expenses and you can do free or low-cost work.
[01:48] 3: Having a great team is the most important facet of any company.
[02:00] Read the book  Who? to learn how to build a great team.
[02:11] 4: Get an office!
[02:35] Having a physical location makes communication easy and it is helpful when building a solid team.
[03:22] When Singlegrain was starting, they left an office space, but things got much easier once they all moved back into the same office space.
[03:40] 5: Become a media company.
[04:08] 6: You have to have upsells and downsells.
[04:18] Stop trying to close new sales and focus on existing customers.
[04:48] Marketing costs are lower and profit margins are higher.
[05:00] 7: Focus in on one marketing channel.
[05:10] Trying to do too many things at once will kill your business.
[05:25] That’s all for now!
[05:27] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!

Leave some feedback:
What should we talk about next? Please let us know in the comments below.
Did you enjoy this episode? If so, please leave a short review.

Connect with us:
NeilPatel.com
Quick Sprout
Growth Everywhere
Single Grain
Twitter @neilpatel
Twitter @ericosiu



Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode #689, Eric and Neil count out the essentials to building a million dollar business. Tune in to hear what steps you should take to achieve success. TIME-STAMPED SHOW NOTES: <ul> <li>[00:27] Today’s Topic: 7 Essentials to Building a Million Dollar Business
</li> <li>[00:38] 1: You have to have something that people actually want.</li> <li>[00:54] 2: Go out there and find all the competitors and hit up their customer list; offer the same product to them for less.</li> <li>[01:25] When you’re starting off, you don’t have as many expenses and you can do free or low-cost work.</li> <li>[01:48] 3: Having a great team is the most important facet of any company.</li> <li>[02:00] Read the book <a href="https://www.amazon.com/Who-Geoff-Smart/dp/0345504194"> Who?</a> to learn how to build a great team.</li> <li>[02:11] 4: Get an office!</li> <li>[02:35] Having a physical location makes communication easy and it is helpful when building a solid team.</li> <li>[03:22] When Singlegrain was starting, they left an office space, but things got much easier once they all moved back into the same office space.</li> <li>[03:40] 5: Become a media company.</li> <li>[04:08] 6: You have to have upsells and downsells.</li> <li>[04:18] Stop trying to close new sales and focus on existing customers.</li> <li>[04:48] Marketing costs are lower and profit margins are higher.</li> <li>[05:00] 7: Focus in on one marketing channel.</li> <li>[05:10] Trying to do too many things at once will kill your business.</li> <li>[05:25] That’s all for now!</li> <li>[05:27] Go to <a href="http://www.singlegrain.com/giveaway">Singlegrain.com/Giveway</a> for a special marketing tool giveaway!</li> </ul> Leave some feedback: <ul> <li>What should we talk about next? Please let us know in the comments below.</li> <li>Did you enjoy this episode? If so, please leave a short review.</li> </ul> Connect with us: <ul> <li><a href="http://neilpatel.com/">NeilPatel.com</a></li> <li><a href="https://www.quicksprout.com/">Quick Sprout</a></li> <li><a href="http://growtheverywhere.com/">Growth Everywhere</a></li> <li><a href="http://www.singlegrain.com/">Single Grain</a></li> <li><a href="https://twitter.com/neilpatel">Twitter @neilpatel</a></li> <li><a href="https://twitter.com/ericosiu">Twitter @ericosiu</a></li> </ul> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>

Neil Patel and Eric Siu bring you daily ACTIONABLE digital marketing lessons that they've learned through years of being in the trenches. Whether you have a new website or you're an established business, you'll learn the latest SEO, content marketing, social media, email marketing, conversion optimization and general online marketing strategies that work today from people that actually practice marketing and operate businesses.
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In episode #689, Eric and Neil count out the essentials to building a million dollar business. Tune in to hear what steps you should take to achieve success. TIME-STAMPED SHOW NOTES:  [00:27] Today’s Topic: 7 Essentials to Building a Million Dollar...

7 Essentials to Building a Million Dollar Business | Ep. #689

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