So many workers unfortunately will never earn a million dollars in their entire working career despite the fact that quite a few businesses will have earned the same amount and more in just one year of working.
“If you consider yourself one of those will never be rich, the good news is that you can do it too,” exclaimed Issa Asad Florida businessman and entrepreneur. He is the CEO of Q Link Wireless and Quadrant Holdings, located in South Florida. Mr. Asad has shared some tips and hints that can help you break the financial glass ceiling, no matter where you are coming from. Here’s how to make your company worth millions this year.
1. Find a Growing Market
A high grossing company starts with the riding of a growing trend. Timing is key, Micah Adler’s mobile app company Fiksu quite literally blew up as the company brought to the market quality products when the market was ripe for the picking. Whether you have the ability to launch new software or an improved health snack bar, timing can be everything.
Being the best is absolutely necessary in achieving any sort of success, whether miniscule or ultimate. Mediocre products are dime a dozen and may yield some profits for a business or individual but will not result in significant and large financial success and dividends. Big profits come from products that sell big and makes a big impression on customers while creating a buzz in the marketplace that in the long run will bring more interested customers and consumers. If you have created a buzz, soon you should be seeing your sales figures rising. How do you get customers excited about your products? Look at what your current customers’ opinions are and see what improvements you can make based on their recommendations. They will appreciate the fact that you are paying heed to their needs and concerns as well as what you can offer them in meeting their needs.
2. Hire Qualified People
Reaching the one million dollar mark in your first year is no easy task and having a team of under-qualified and under-performing workers won’t help matters. Hiring cheaper help might help your budget, but in the long run the easiness will prove not to be worth it as you sales numbers will be short of expectation. Rather than taking shortcuts, hire the very best all-star workers and you can find them via referrals. Sales employees are particularly important in making your business a success as they are the face of the business, the first impression customers get when they come across your line of products. Encourage whoever you hire to do whatever may be needed to make the deal and offer incentives to keep them and your business going.
3. Gather Data ASAP
Lastly, in order to hit the top of the revenue charts, you have to gather as much data as possible and put it to use in an effective manner. A good way to go about gathering info might be to dedicate yourself or your team just a few weeks, checking stats and how revenue changes with the implementation of something new and making changes based upon the research. You should do the same in expanding and growing your company. Google Analytics can provide a gold mine of valuable information in determining company performance based on tests of the figures provided by the tool. If you feel you can’t perform such tests yourself then hire all stars who can help make the numbers make sense.
Reaching $1 million in one year is no easy task, just ask anybody at the bus stop. But impossible it is not, follow these steps and be wise in the moves you make and you may just strike gold. Having the best help never hurts, keep within your budget and more likely than not you will at least reach the best of your current potential.
