Six Powerful Lessons for Building a Multi-Million Dollar Business

In today’s digital world, I often remind people to pause. It’s good to check how far you’ve come in your business or personal journey.
Now that 2015 is over, I have reflected on my company. I started it in early 2011 in a 5×5 walk-in closet in Chicago’s South Loop. In the last five years, we’ve had successes and failures, each one teaching us something important.
More importantly, how can these lessons be applied to your entrepreneurial journey? Whether you’re launching a startup, growing an online business, or even diving into casino bonus offers to maximize profits in the gaming industry. Strategy, resilience, and smart decision-making remain the key to success.

Show Me the Money

I never realized how valuable my sales training was until I started my own company. From day one, our goal at AE Marketing Group was simple: grow revenue.
We focused on sales, not branding. This helped us grow from $0 to $250K and then over $500K. By the end of 2011, we signed a $700K contract. We maintained our momentum by focusing on steady growth and avoiding aggressive goals.
In 2015, our revenue jumped by 31%. We also landed our biggest deal for under $2M. Many startups waste time fine-tuning processes and crafting the perfect pitch instead of focusing on sales. The key is simple: Start selling, generate revenue, and build from there.

Bright Shiny Objects are Still Objects

We are dedicated to boosting revenue and vowed to avoid distractions. Shiny objects can quickly eat up funds in a startup.
Logos, business cards, office space, overview video, the latest iPhone, a website? We didn’t have any of that until we had well over a million dollars in revenue and a strong balance sheet. They didn’t seem to mind. Why? Because we delivered kickass work that helped their business succeed. At the end of the day, customers pay for results, not flashy extras.
Don’t ever confuse a want and a need. It’s one of the hardest life lessons, which also applies to business. In your early business-building days, focus only on what you need to grow, not what you want. The latter will come in due time.

Not Every Dollar is the Same

Yes, revenue drives a business. Yet, like owning a car, there are costs involved. Some costs can be higher than others. Once revenue starts flowing for your company, you need to assess whether it’s the right revenue.
Our company defines “right” by asking two questions:

1. Is the revenue profitable?
2. Is it meaningful?

If a revenue stream isn’t profitable or meaningful, then that customer isn’t the right fit for us.
Q4 of 2015 continued our streak of 20 consecutive quarters of profitability. We achieved this by sticking to what’s “right” for us. Never forget why you are in business and what the “right” revenue is for you.

Check Your Ego at the Door

We come from an industry dominated by the Leo Burnetts and FCBs of the world. There’s nothing wrong with those companies. We admire many people at big agencies. But most days, we feel like we swim upstream in our industry.
We view brand as a business function, not creative or advertising. 2) We market our customers instead of marketing ourselves, which results in low brand awareness among AEs.
As a small business or startup founder, prepare for the classic question: “So, where do you work?” ” Followed, of course, by the response:
As an entrepreneur, don’t expect people to care that your company is a Goldman Sachs 10,000 Small Business. That’s a great honor, but they’re focused on buying the next unicorn. Try telling someone your company doesn’t have an office and watch him or her laugh at you. Trust me, it happens. But don’t let it drag you down.
Balancing ego is one of the hardest parts of entrepreneurial life. In sales, you’ll hear “no” more than ever and “yes.” You’ll have people constantly saying you can’t do this or that, but don’t listen to them. Put your head down and keep going forward.

Be Prepared to Pay a Price

In a recent Huffington Post blog, I touched on the cost of being a startup CEO. The truth is, it’s a messy, wild way to live, and it’s simply not for everyone. That first year? I spent 36 weeks traveling while I had two children under 3 at home. That wasn’t easy. You will lose friendships, hurt loved ones, and fail some days.
And this is why a support system and a community network are critical for long-term entrepreneurial success.
It took me four long years to truly understand this lesson. But you can learn that lesson today.

It Can All Go Away

Anyone reading this article can start a business, but the real trick is staying in business. Many people see startup life as an exciting journey for entrepreneurs, but that’s a myth.
Nobody talks about life after the startup. How do you take a company from $2M to $5M? What does it take to scale a business? How do you stay in business for 5 years, 10 years, or 30 years?
No matter your exit strategy (and if you don’t have one, stop reading this and get one), always have perspective. No matter how big you grow as a company, don’t let business define everything about you. Because if it goes away, will you? I sure hope not.