Startups Go Through 5 Stages to Make That First $1 Million

Startups Go Through 5 Stages to Make That First $1 Million

Why you should not take The entrepreneurship myth too seriously
US Investors Lead $2.5M Funding Round In Kenyan Bitcoin Startup BitPesa
Everything you need to know about European corporate venture capital

The 5 Stages Startups Must Go Through to Make That First $1 Million

We all want our startup businesses to hit that coveted $1 million per year in revenue. The unfortunate truth is that only 4 percent of us actually make that goal.

Related: 11 Mistakes Standing Between You and Your First Million

This past year my company scaled LeadQuizzes, our lead generation software, past the $1 million mark in less than six months. Having hit that sales mark, I now know how important it is to maintain an awareness of where you are in your business.

That means really understanding: 1) the stage of business you’re in; 2) the fears and limiting beliefsholding you back; and 3) the keys to growing into that next sales bracket. Having this awareness creates more confidence and allows you to prioritize and take action.

Here are the five stages I believe that you and your startup must go through to reach that understanding and hit that $1 million in sales.

Stage 1. Searching…