It takes a different skillset to build a seven-figure business compared to a six-figure business, but what about a nine-figure business? Cardone Ventures CEO Brandon Dawson has built multiple nine-figure companies and recently unveiled what sets nine-figure entrepreneurs apart from seven-figure business owners.
The key ingredient comes down to how you build a team. Dawson shared the details in a "Breakthrough Success" interview, including how an entrepreneur's mindset shifts with each zero that gets added to their net worth.
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Going From Six Figures To Seven Figures
Dawson said that you can get to a six-figure income on your own. You just have to develop the right skills and get good at your craft. However, it is almost impossible to reach seven figures on your own.
"Multiply what you do through a few people to get to seven figures," Dawson said.
The journey from six figures to seven figures requires that you get more comfortable working with people and handing off some of your tasks. This is one of the hardest steps to reaching seven figures, but it gets even more challenging if you want to jump to eight or nine figures.
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The Mindset Shift To Go From Seven Figures To Nine Figures
Entrepreneurs who reach seven figures may set their sights on eight and nine figures as their next targets. Dawson emphasized upgrading your leadership to multiply your way to eight figures. This style of leadership involves getting others to do what you are doing.
While a seven-figure business owner performs some tasks and gives some assignments to others, an eight-figure entrepreneur gives almost all tasks to others. That way, they have more time to think about where the company is heading and make strategic moves instead of getting stuck with basic tasks that are easy to delegate to the right people, such as responding to emails.
Jumping from eight-figures to nine-figures builds on the successes of an eight-figure business while "moving a lot of people toward a stated objective, with a specific purpose, that executes and gets results."
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Your Belief System Is Vital
Dawson laid the framework for leading a team that reaches new revenue milestones. He's used this model to start and scale companies that became worth nine-figures, but knowing the theory behind business success isn't enough to get meaningful results.
Dawson emphasized the importance of believing in yourself. If you don't believe you can launch a nine-figure business, then you won't get there. Taking action toward your desired result can make you feel more confident and move you closer to your goal.
Believing in yourself makes it easier to develop yourself into the type of person who can lead a nine-figure business. Dawson says that you should work on developing your leadership skills to end up with a reliable team. No individual builds a solo nine-figure business, but it becomes possible when many people work together toward a common objective.
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