What You Should Do After You Hit 7 Figures in Revenue | Ep. #532

<p>In episode #532, Eric and Neil discuss what to do once your business hits 7 figures. Ultimately, there are two paths you can take. Tune in to hear their advice about optimizing your business for growth or stability. </p> <p><strong>Time-Stamped Show Notes:</strong></p> <ul> <li>[00:27] Today’s Topic: <em>What You Should Do After You Hit 7 Figures in Revenue</em></li> <li>[00:34] Eric believes that once you hit 7 figures, why not strive for even bigger numbers?</li> <li>[01:18] Look at what works and double down on that.</li> <li>[01:47] Invest in what you can control.</li> <li>[02:10] Neil thinks that what you do to get to 7 figures, isn’t necessarily what will get you to 8.</li> <li>[02:58] 7 figures are hungry to make money right away, while 8 figure businesses look more to long-term investments.</li> <li>[03:24] If you can spend more money on acquiring customers than your competitors, it’s much easier to grow your business.</li> <li>[03:37] Celebrate that your business has reached 7 figures, but then think about what else you can do to optimize your business.</li> <li>[04:29] Really good marketers consider “scaling”.</li> <li>[04:51] Once you get beyond the strategies that helped you reach 7 figures, think about what systems and processes you can build to reach 8 figures.</li> <li>[05:58] You have to be able to convey your vision to others (employees and investors), so that they can get on board and help you reach 8 figures.</li> <li>[06:20] Some people do not care for money and just want to live a quiet, relaxing life.</li> <li>[06:48] If you are one of these people, optimize your business for profit and don’t try to reach 8 figures.</li> <li>[07:12] Once you optimize your business, don’t spend too much and save your cash in order to float the “chill” lifestyle you desire.</li> <li>[07:42] Mergers and Acquisitions are another way to make quick, stable money.</li> <li>[08:15] If you look at <a href= "http://www.dentsu.com/">Dentsu</a> or <a href= "https://www.ogilvy.com/">Ogilvy</a>, they have a number of d