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The Journey Entrepreneurs Go On To Make Their First Million Dollars

Elevate Your Potential Magazine

Elevate Your Potential Magazine

Entrepreneur Motivation: In this video, author and entrepreneurship expert Evan Carmichael shares “The 7 Stages Startups Go Through to Make Your First $1 Million”.

The 7 Stages are as follows:

1) Dissatisfaction with the status quo
2) Idea generation
3) Launch the idea
4) Failure and adjustment
5) Extending the idea
6) Building a team
7) Leading a team

 

Beginning the Journey – Dissatisfaction with the Status Quo

So step number one is you have to have a dissatisfaction with the status quo. You have to not like what’s happening around you. Successful entrepreneurs have a big dissatisfaction with what’s currently happening. They’re not happy with the solutions.

They have a problem, either their own problem or somebody else’s problem, and they’re just not happy with the current solutions out there. It’s the start of every single great business. There has to be a pain point and a dissatisfaction with the current solutions out there.

Generating New Ideas to Solve the Problem

So we have a problem, our own problem, a friend’s problem. We’re dissatisfied with the solutions out there. Now, we got to figure out what’s an idea that’s going to work. What’s the winning idea that combines what we love to do, what we’re super passionate, excited about with what’s going to solve the problem?

And there may be multiple ways to solve this problem. Whatever problem you’re facing right now, there could be a million different ways to solve it, but not all of them are going to work for you, and not all of them align with what you’re passionate about.

And so at the core of every successful business is a combination of what there’s a need for, what there’s dissatisfaction with, what pain point people have with what you are super passionate and excited about, and combining those things will lead to a successful idea to launch a business with.

 

Resources:

Believe Newsletter

This is the best way to have entrepreneur gold delivered to your inbox, and to be inspired, encouraged and supported in your business. http://www.evancarmichael.com/newsletter/

Evan Carmichael – #Believe

Browse. News collects all the stories you want to read. 7 Ways. Entspresso. Evan’s Picks. Mentor Me. One Rule. Top 10 Rules. Twitter Lists …

EvanCarmichael.com. 22933 likes · 360 talking about this. I #Believe in entrepreneurs.

 

See also: Evan Carmichael’s – Believe Nation Channel and  find more self-improvement resources on Elevate Christian Network.

 

About 

Cee Harmon is founder of Elevate Christian Network and Elevate Your Potential Magazine. He enjoys helping people improve the quality of their lives - spirit, soul, and body.
 
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