if you've built the systems you now as
the business owner become more like a
consultant who has more power because I
can actually make changes and you can
deliver much more value to your company
that way the four stages of business
success these are the stages that every
entrepreneur passes through on their way
up the ladder I've been through these
phases so many times and each time you
go through every single phase it feels
great business is all about ups and
downs so let's talk about the four
stages of business success stage one is
fake
success meaning you've come up with a
great business idea maybe you have plans
up on a whiteboard or in your notebook
and you're showing your friends the
business and maybe they're saying it's a
cool idea this is the part of the
business where a lot of entrepreneurs in
quotes get trapped because they don't
talk to customers they have this
business idea and they have it in their
notebook and they are so hyped about it
and then they usually do nothing but
this is the first step but this is still
the first step because all entrepreneurs
whether it becomes a great business idea
or they do nothing with it they have it
in the idea form first it starts as an
idea so fake success is stage one of any
business venture
Stage two comes with the first dollar
this is when you actually have a
customer that's willing to pay for your
product and you not only found a
customer that's willing to pay but
you've had a customer pay you a dollar
or more for your product typically it's
not a dollar my first business was menu
rewriting and my first check was for 50
bucks and then later we went on to sell
mobile apps for hundreds of thousands of
dollars so our first checks became 30k
40k deposit on those apps. But that’s
the next stage is you're able to make
your first money with your business idea
which takes it now from the fake success
category into the first dollar category
and what's interesting about this is a
lot of times you will feel less
successful making a dollar than you
would when it's just a fake idea and I
think that's why a lot of entrepreneurs
in quotes people that'll never start a
business even though they really want to
the reason why they'll never get into
even the first dollar stage it's a blow
to the ego when you think you have this
amazing idea and it looks so good on
paper it looks so good in your head
then you go out and pitch it to
customers and they hate it hey we're
giving away the email 10k course to one
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all you have to do is subscribe to the
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our thousand dollar course email 10k you
can get that for free a lot of people
fear that they fear failure some people
fear success but I think fear of success
is also disappeared failure a lot of
entrepreneurs don't want that first
dollar because once they start actually
selling something it takes a lot to get
from phase 1 to phase 2 phase 1 you just
need to write down a cool idea in a
notebook phase 2 you're gonna have to
figure out who your customer is you're
gonna have to talk to those customers
talk to strangers people that you don't
know get money from people that you
don't know it's all very difficult if
you're not doing it meaning it sounds a
lot scarier than it is but that is
enough of a barrier to keep most people
out of even this first stage so if you
can make even one dollar from your
business idea you're ahead of ninety to
ninety nine percent of people that want
to start a business sadly enough once
you pass the first dollar stage the next
stage is scale and the scale is a little
bit later after the first dollar I count
this as the first time you deliver a
project without you being involved I
count this as the first time you deliver
a project that's been done by your team
and not by yourself so if you're going
out you're starting an agency that's
maybe a design company and you're
designing the project and delivering it
to the client and selling and doing all
this stuff that is great that's still
the first dollar stage of the business
but once you have a team that has
designed it and you're passing that work
off as your company's work now you are
in the scale stage which is great we've
generated millions of dollars in revenue
for our clients and ourselves just from
cold email the problem is if you've
tried cold email it's not as
straightforward or easy as it looks we
put together the cold email optimization
checklist that we use internally to make
sure all our cold emails are of the
highest quality
in a very straightforward checklist
format to get it go over to email 10
k.com slash checklist and finally
once you've scaled the business past a
certain point you get into stage 4 which
is escape escape means you have the
ability to work on the business and not
inside of the business you're not doing
any of the sales you're not doing any of
the fulfillment you're not doing any
customer service everything has somebody
else doing it and your business is
profitable and you're able to live off
it and then start working the levers to
grow more it is an amazing place to be
that's where ultimate business success
is I'm there with a few of our companies
and honestly it's incredible how little
work you can do at this phase and still
make money because looking at it as an
outsider is so valuable you wonder why
these consultants are able to charge
hundreds of dollars an hour it's not
because they have this information that
you don't as a business owner it's
because they're able to see your
business from the outside so if you've
built the systems you now as the
business owner become more like a
consultant who has more power because I
can actually make changes and you can
deliver much more value to your company
that way as you scale so the four stages
of business success are fake success
first dollar scale and then escape like
this video to encourage more content
like this subscribe for more videos like
this it can check out all of our past
content we have a lot of videos on sales
entrepreneurship and how to grow your
company thanks for watching I'm Alex
Berman