Scott Oldford, whose blog is all about 6 Pillars to 7 figures, breaks down just how to reach your revenue goal of 1 million:
“If your goal is $1 million in revenue…
And your sales price is $10,000…
Then you need to generate 100 total sales to reach $1 million in revenue (100 x $10,000 = $1 million.)
The amount of appointments you need to generate depends on the percentage of appointments you close as sales.
So assuming you close 20% of all the prospects that you speak with, you’d need to book 500 calls (500 / 20% = 100 Sales [@ $10,000 revenue per sale] = $1 million in revenue.”
In recent years, it’s become evident to me that knowing the recipe for a 1 million dollar business is necessary to get there.
How is that so many people start a business and skip the math? As someone who has a love-hate relationship with numbers, I must understand how they work in my business in order to get the results I’ve dreamed of.
So, let’s stop pretending you can run a business without basic math. Get your pillars down and know the route to 7 figures.