Is It Possible to Go from 7 Figures to 8 Figures Now?
Wednesday, April 28, 2pm US ET
Perry Marshall & Josh Long
Register Here
Mel,
When I was around 30 I had this friend named Tim. Our kids were in diapers.
Tim's finances were spic n' span.
My finances were a mess. A year's worth of income borrowed on credit cards at 22.49% interest.
Tim was a financial planner. He was the sort of guy who invests in Treasury Bills ( = lowest possible risk).
Tim followed all the "Dave Ramsey" recommendations and had zero debt except for his mortgage. With positive equity in his house. He balanced his checkbook to the penny every month.
One time we were roommates on a men's outing. He was talking about debt-free living and financial principles. I kept my mouth shut.
I never visited his house, but I'm guessing his sofa had clear plastic slipcovers so the kids could never spill Macaroni & Cheese on them.
Maybe his kids didn't even get Macaroni & Cheese? Maybe his wife convinced them to eat yogurt and celery instead. The only thing my kids would eat was Blues Clues Mac & Cheese.
One time my 1994 Geo Prizm started smelling bad. I looked everywhere and couldn't find anything. But the stench kept getting worse and worse.
Finally I found a spoon under the driver's seat with a generous blob of rancid peanut butter.
I always felt a little inferior around Tim. I felt like a kamikaze pilot with an arm cast and 114 stitches standing next to an award-winning Delta Airlines captain who just got the Ten Million Miles Safety Award.
I muttered under my breath that I was earning my entrepreneurial freedom, and Tim wasn't.
But at that point I hadn't really earned any freedom at all. Only interest payments.
Fast forward 20 years… I don't feel inferior to Tim. Not in the least. And I don't regret any of the kamikaze missions I undertook. The only way current reality could even be possible was by taking those risks.
In fact the only way you get any business past the $1 million mark (which is where you begin to enjoy some options in your life) is to take those risks.
Getting to $10 million, however, requires a different kind of dice-rolling. Kamikaze missions alone will never get you across the $10 million chasm.
(Believe me, I've tried.)
First, going from $1M to $10M is nearly impossible in *some* businesses. And the attempt will only burn up your cash and energy.
Second, the way the world has shifted from 80/20 to 95/5 in the last 15 years also conspires against you.
And now we've got the COVID chaos to navigate.
It's never been easier to be a billionaire (IF you can get there) but it's never been harder to be a millionaire.
The $10M barrier requires a unique approach for online businesses, and it nearly always requires a definitive solution to Network Effect. This never happens by accident.
Silicon Valley does "if you build it they will come" and dumps tens of millions of dollars of Venture Capital. It works about one time in ten or twenty.
That's great if you've got 10 or 20 companies you've invested in.
It sucks if you're one of the 19 CEOs who doesn't make it.
Planet Perry does Network Effect For Mere Mortals instead. We've gotten it down to a science during the last two years. We call it "Tactical Triangle Takeover."
A lot of entrepreneurs running $2-4 million companies feel like bandaged kamikaze pilots standing next to founders of bigger companies, sort of like I felt inferior to Tim.
I repeat: Going on more kamikaze missions is no guarantee of getting across the $10 million chasm.
If even BEFORE the riots and viruses, you were wondering "Can I make it out of the 7-figure desert" Advanced Mastery Network might be the path to the oasis you're looking for.
REGISTER HERE TO FIND OUT
Perry
***NOTE: This email address isn't monitored! If you need help, please email: support@perrymarshall.com
***NOTE: This email address isn't monitored! If you need help, please email: support@perrymarshall.com
