1-Page Summary1-Page Book Summary of 12 Months to $1 Million
In 12 Months to $1 Million, entrepreneur Ryan Daniel Moran presents a roadmap for starting and growing a successful million-dollar business in a single year. He explains that all you need to do to reach that seven-figure mark is to sell three to five products tailored to a specific audience. To help you achieve this goal, Moran shares proven techniques for creating breakthrough products, marketing your business, and developing a brand with loyal customers. By following his approach, you can turn your ideas into reality, achieve your financial goals, and run a million-dollar...
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12 Months to $1 Million Summary How to Build a Million-Dollar Business in One Year
Moran writes that to create a million-dollar business, you need to sell three to five products that generate 25 to 30 sales per day at around $30 each.
(Shortform note: While Moran provides one formula for building a million-dollar business, other experts suggest you calculate multiple ways to achieve that goal. The numbers will differ based on what products or services you want to offer—for instance, you might be interested in selling a monthly subscription service instead of (or in addition to) a physical product. Coming up with multiple ways to make a million-dollar business gives you more options and flexibility. It can also help you identify the best way to reach your goals based on your inclinations.)
According to Moran, to achieve these numbers, you must create a brand by having a coherent line of products that all serve the same customer, and then make your customer trust that brand. With this in mind, let’s delve into Moran’s method for building your business—starting with creating your first product.
(Shortform note: Other marketing experts explain that a brand is more...
Shortform Exercise: Plan Your Three to Five Products
Moran advises that you identify and examine your target audience as a way to develop a profitable product. In this exercise, come up with your product line by focusing on a niche audience.
Think about your passions, career, and hobbies. What are some communities you consider yourself a part of?
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