5 Steps to Build a Million-Dollar Business in One Year

5 Steps to Build a Million-Dollar Business in One Year

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Some people go their entire lives without earning a million dollars, so it sounds crazy that some businesses might be able to achieve this milestone within their first year. But it is possible. Plenty of businesses have achieved this goal, and you can too.

1. Find a growing marketPyramids

One of the easiest ways to build a million-dollar company in such a short period of time is to find a growing trend and ride it to the top. Take the example of Micah Adler, CEO of mobile app developer Fiksu, which grew from less than $1 million to $100 million in just three and a half years – with only $17.6 million in venture capital – following its 2010 launch.

Certainly, Adler’s success comes in part from building great products, but it also comes from his timing. In 2012, just two years after Fiksu’s launch, mobile-app development represented $19 billion in revenue and was experiencing annual growth of more than 60 percent a year.

Finding a growing market of your own like this can put you on the fast track to massive revenue growth.

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Sujan Patel
In his more than 10 years as a marketer and entrepreneur, Sujan Patel has helped hundreds of companies boost online traffic, sales and strengthen brand reputation online. Sujan is the VP of marketing at When I Work -- an employee scheduling software solution for small businesses.