THE PATH TO MILLIONS STARTS HERE
Entrepreneur US|May - June 2024
A million dollars sounds sexy. But what is it, really? For some, a dream.
JASON FEIFER
THE PATH TO MILLIONS STARTS HERE

For others, a goal. A million in profit is a form of financial security-or at least the freedom to take some risks. A million in revenue is a marker point where business models are proven and investors start calling. For experienced entrepreneurs, a million dollars might be a unit they now measure in the tens or hundreds. But however many millions you have, it's always a metric of note.

On the following pages, we'll chart many paths to getting there-from founders, investors, fundraisers, and other experts. You'll learn how to build a $1 million business in a weekend, how to earn your first million tax-free, how to ask for a million dollars, and how a number of other entrepreneurs plotted and problem-solved their way there. All of it goes to show that if you haven't made a million yet, it's never out of reach.

IF ONE MILLION DOLLARS IS YOUR GOAL...

How do you make it? And what does it actually get you? The cohosts of the popular podcast

MY FIRST MILLION

(who made many multiples of that themselves) share what they've learned.

Sam Parr and Shaan Puri think in millions. They've both had notable exits for many millions (Parr sold his newsletter company The Hustle to HubSpot, and Puri sold his video streaming company Bebo to Twitch). Together, they cohost the chart-topping podcast My First Million, where they kick around business ideas with successful entrepreneurs.

Both agree: A million dollars sounds sexy, but it's not an end goal. "When you have a million bucks, you're not making tons of investments," Puri says. "You can't just live off it forever, unless you're living a really minimalist life. So you should ask the question, 'At what thresholds do things actually change, versus what are the arbitrary numbers that just sound good?""

Here, they discuss the true value of a million dollars, and the strategic path to your first million (and many more).

Esta historia es de la edición May - June 2024 de Entrepreneur US.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición May - June 2024 de Entrepreneur US.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE ENTREPRENEUR USVer todo
You're Never Out of Options
Entrepreneur US

You're Never Out of Options

An entrepreneur's path is never simple or easy-but you have more opportunities than you think.

time-read
3 minutos  |
Startups - Summer 2024
YOUR NEXT RECRUIT COULD BE A ROBOT
Entrepreneur US

YOUR NEXT RECRUIT COULD BE A ROBOT

Across the franchise industry, brands are putting AI to use in all kinds of novel ways. From customer service to better marketing and quality control, here's how brands are taking the leap into automation.

time-read
9 minutos  |
Startups - Summer 2024
'MY JOB IS TO KEEP THIS BRAND HOT'
Entrepreneur US

'MY JOB IS TO KEEP THIS BRAND HOT'

Taco Bell's new CEO is, in his words, \"not the dictionary definition of a CEO.\" But he has a vision for how to keep their winning streak going.

time-read
9 minutos  |
Startups - Summer 2024
These Franchise Trends Are Hot!
Entrepreneur US

These Franchise Trends Are Hot!

If you're looking to buy a franchise, start with this list. We break down 10 of the industry's hottest trends, and more than 400 brands to choose from.

time-read
2 minutos  |
Startups - Summer 2024
Doing Good Is Good for Business
Entrepreneur US

Doing Good Is Good for Business

Want to grow your franchise? Invest heavily in your community.

time-read
2 minutos  |
Startups - Summer 2024
How He Opened 10 Franchises in 10 Years
Entrepreneur US

How He Opened 10 Franchises in 10 Years

After being laid off twice in two years, Josh Grinstead became a GYMGUYZ franchisee and now makes more than $1 million in annual revenue. Here's his playbook.

time-read
1 min  |
Startups - Summer 2024
Busting 3 Major Franchising Myths
Entrepreneur US

Busting 3 Major Franchising Myths

Is franchising really just for the affluent looking for a turnkey, \"easy\" path to success? No, no, and no!

time-read
4 minutos  |
Startups - Summer 2024
Which Franchise Model Is Right for You?
Entrepreneur US

Which Franchise Model Is Right for You?

There are two big ones: You're either a location-based business, or you're service-based. Here's how to decide between them.

time-read
4 minutos  |
Startups - Summer 2024
Ready to Own Your Own Business?
Entrepreneur US

Ready to Own Your Own Business?

This magazine is designed to help you. Here's how.

time-read
2 minutos  |
Startups - Summer 2024
Charities Are Getting Down to Business
Entrepreneur US

Charities Are Getting Down to Business

Nonprofits are struggling. That's why more charitable leaders are taking a page from their for-profit peers-and learning how to make money.

time-read
10+ minutos  |
May - June 2024