How to Build a Million Dollar Business

Written by Dave Navarro on May 18, 2006

If you’re starting (or running) your own online business, you’re likely looking for every way you can make your first million. You’re researching niches. You’re exploring search engine optimization. You’re looking for joint ventures, writing articles, gearing up for that ebook … you’ve got a lot of ideas about how to meet your financial targets.

Well, before you spend any more time looking for how to make that first million, you need to be aware of ten things that can make you lose it – forever. Pay very close attention to what you’re about to read, because it’s going to tell you whether you’re on the path to a great year of income for you or a year of frustrating and fruitless effort.

You’re about to take a quick “pop quiz” that will instantly tell you whether or not you’ve got the structure in place that you need to turn your million dollar idea into a million dollar payday. Answer honestly, and if the answers aren’t what you’d hoped they’d be, then you need to have a plan of action to take care of them. Here goes:

Pop Quiz: Do You Treat Your Business Like A Business?

____ I schedule (and keep) “business hours” every week
____ I have set aside a budget for my business needs
____ I have a written project plan, even if it’s basic
____ I set (and meet) specific deadlines for projects
____ I do whatever it takes to meet my deadlines
____ I have a powerful, “expert” mentor who helps me
____ I am regularly accountable to someone for my goals
____ I know how to powerfully motivate myself to work
____ I am persistent in the face of business obstacles
____ I am consistently producing *something* of value

____ Total # of Yes Answers

Now take that number of yes answers and multiply it by 10. That should give you a rough percentage of how likely you are to make some money in the next year. Now, that’s just an estimate - but let’s be honest – the *only* way you’re going to build a full-time income with your business is if you do whatever it takes to answer “Yes” to all ten questions in this quiz.

That’s the “bad” news (and it’s really only “bad” because on one level or another, we really wanted this whole thing to be a lot easier, didn’t we?). But wealth requires work. There is no easy, no-work involved, 100% turnkey way to wealth, regardless of what some internet marketers tell you. You’ve got to earn your money by doing the work.

The good news, though, is that it is 100% doable for you to get your piece of the internet pie. It’s 100% possible for someone with no prior internet experience to jump into the level playing field and start building more income every month. The only thing that can prevent you from making money are the “No” answers to the quiz you just took.

Don’t make the mistake of focusing on having the greatest idea, the greatest product, or the greatest marketing for your business. That will trap you in “paralysis by analysis,” where you’re always thinking and never taking action.

Instead, focus on having the greatest discipline. The greatest commitment to your deadlines. The greatest network of people who can encourage you. The greatest follow through. The greatest perseverance. The greatest level of accountability to keep you on track.

Focus on being great at the things that result in follow through and you’ll be setting yourself up for an incredible income stream. Even “average” products make millions for those with above-average follow through.

Treat your business like a business and it will reward you tenfold. Dabble at it and you’ll pay the price in disappointment. But if you’ve read this far, you know that’s not where you want to be. So get your pop quiz score closer to 100%, starting today, and reap the rewards of a lot of great paydays.