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Building a business from scratch to $100 million is a journey filled with challenges and learning curves. For those looking to navigate this path, there are specific stages to go through, each with its own set of obstacles and strategies. Here’s a breakdown of the phases and what it takes to grow a business from zero to success.
The Zero to One Million Phase: Finding Market Fit
The first phase is often the most challenging: going from zero to $1 million in revenue. Known as the “Market Fit” phase, this is where a business needs to hone in on a single product that serves one type of customer (or “avatar”) and sell it through one channel. It sounds simple in theory: one product, one market, one channel. But in practice, it’s anything but.
Many aspiring entrepreneurs in this phase often find themselves consuming vast amounts of information — books, podcasts, webinars — but still feeling unprepared. The truth is, there’s never a perfect time to start. Success in this stage comes down to learning to act despite not feeling completely ready.
During this phase, it’s common to struggle with three core problems:
- Offering a product or service that people don’t want.
- Having a desirable product…
