Grant Cardone: Here’s Exactly How To Scale Your Business From $0 to $1 Million
Written by
Gabrielle Olya
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Emily Gadd
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If you’re just starting out as a business owner, reaching $1 million in sales can seem like an impossibility. But Grant Cardone, private equity fund manager and real estate investor, believes that it is possible for everyone with the proper planning. That’s why he launched his 7 Figure Accelerator online program, which teaches entrepreneurs to scale their business from $0 to $1 million — and beyond.
Cardone shared the basics of his program with GOBankingRates.
The Math Is More Important Than the Product
If you want to scale your business to $1 million, the first step is to set that as your goal.
“No. 1, set the target,” Cardone said. “Let’s say in this case our target is $1 million.”
Next, “do the math.”
“There are many ways to a million dollars,” Cardone said. “One of the greatest mistakes business owners and young entrepreneurs make is they do a business plan, but they don’t do their math first. We do not decide on the product or the service first, we do the math first. And then plug the products and services into the math.”
This means figuring out the best way for your company to make that million.
“If I can get one person to give me a million dollars, there’s my million-dollar math,” Cardone said. “I could get 10 people to give me $100,000 — that’s a million dollars. I could get 100 people to give me $10,000 — that’s a million dollars. I can get 1,000 people to give me $1,000 — that’s a million dollars. I could get 10,000 people to give me $100 — that’s a million dollars. I can get 100,000 people to give me $10 — [which is] much more difficult to do — and that’s a million dollars. I could do all of those, and I would have $6 million.”
Once you figure out your million-dollar math, only then do you plug in your products or services.
“[You might] have a $10 product, $100 product, $1,000 product, $10,000 [product],” Cardone said. “[Step] No. 3 [is] we create an inventory of services and products for that individual. So they now know how they can go to the marketplace.”
When you’ve decided on you’re products and/or services, then it’s time to complete the final two steps: “No. 4 is marketing,” Cardone said, “and No. 5 is sales.”
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