How to Make Your First $1M

Charlie Munger said making your first $100,000 is the hardest, and I quote “The first $100,000 is a b****, but you gotta do it.”

and he couldn’t be more spot on, but I’d even argue getting to your first million in revenue is very difficult

I started in online business in 2019, attempted to make money drop shipping, selling anything from metal straws, to party gadgets, but never saw any success

in fact, I went over 9 months without a single sale, not one even and I lost money from paying for facebook ads

this is when I realized, if you’re a beginner, you should start something that requires only one skill and also does not have startup costs associated with it

this is when I became a “high ticket closer” before it was a mainstream thing, and started making 2-5k per month in 2020

this scaled into a sales agency, and eventually I realized there was a HUGE demand for good sales reps with the explosion of online business, between more info sellers and marketing agencies popping up than ever before, talented closers were in hot demand

so I became a freelance recruiter, but I heard some recurring complaints about recruiters

1. they charge too much

2. they take too long

3. their sales reps aren’t great

so I thought on how I could solve all three, and figured if I did, I’d have a home run offer

so I built tryclosify.com - a hiring platform to only hire commission only sales reps where every closer on the platform had to have experience, and was vetted before being admitted

recruiters charged upwards of 5k per rep, we charged $5,000/yr for unlimited reps

recruiters took up to a month to place someone, our average time to hire was <7 days

recruiters placed inexperienced but “trained” reps, we only placed experienced reps (experience trumps training in sales)

the result? We had instant product market fit, our clients loved our platform and told their friends and we quickly became the “go to” solution for hiring sales reps

once you have a validated offer that people want (the hard part) then making money became easy

1. Sent 50,000 cold emails per month with a very simple script

2. invested in seo (search “hire commission only sales reps” and Closify is still the #1 organic result)

3. built an SDR team to cold call + send linkedin DM’s

4. have a properly built out CRM to manage all of this

that was really it, I didn’t even do content at that time or run ads, I was a pretty beginner entrepreneur at this point and I was able to make my first $1M by just having a really good offer that provided value to business owners

Here’s the takeaways for you to go make $$$

• build a company that makes business owners more money (if you can present a logical argument to a business owner of how you’ll make them more money, they are very open to trying something always)

• do the research in your niche of what’s a PAINFUL problem, solving surface level problems will never make you much money

• outbound sales is affordable, predictable, and very lucrative in B2B

• know who you’re building for, never stop talking to your customers

I’m building a new B2B SaaS - https://www.chuurn.com/ 

Churn is the biggest killer of any subscription business, if you want to be a beta tester of Chuurn for free, reply to this email

I may or may not document the growth on this, we will see

I hope this email helped

Alex