Growing Your Small Business to a One Million Dollar Enterprise

Mindset: The New Psychology of Success

Are you’re a woman small business owner who wants to grow her business to a one-million-dollar enterprise? If you answered ‘yes’, I’m with you. My business has never brought in a million dollars, but I want it to. I wasn’t ready to work on that goal until now.

The idea came to me and I wanted to explore the topic in a series of blog posts. And I thought to myself, that for sure, there would be many women small business owners who’d like to achieve that goal as well. These days to have impact you get to go BIG or go home. Why not have a goal of growing your business to a one million dollar enterprise? Imagine the good you could do in the world!

You already know the statistics. The Small Business Administration reports that 30 percent of new businesses fail during the first two years of being open, 50 percent during the first five years and 66 percent during the first 10 years and only 25% make it to 15 years or more.

You’ve survived the first five years, now it’s time to take things up several notches. Do you believe in you? Because I do. Do you have a growth mindset? That’s something that I’ve been working on. Do you have what it takes to grow your business to a one-million-dollar enterprise? Do I have what it takes to grow The Invisible Mentor into a million-dollar-enterprise? I’d like to think I do, and I have a secret tool to help me that I’ll share with you in a moment.

Women-Owned Businesses Statistics You Need to Know About

• 3 million women-owned businesses in the US.
• 4 out of every 10 businesses in the US is women-owned.
• Number of women-owned businesses has increased by 58 percent since 2007.
• Women are slightly more likely to start a business than men.
• 88% of women-owned businesses generate less than $100,000 in revenue. This group is growing at a rate that is faster than the growth rate for larger women-owned companies.
• 7% of women-owned businesses generated more than $1 million in revenue, an increase of 46% over the past 11 years.
• Half of women-owned businesses are concentrated in three industries: other services, health care and social assistance, and professional/scientific/technical services.

Source: Behind the Numbers: The State of Women-Owned Businesses in 2018

My Secret to Growing My Business into a One Million Dollar Enterprise

Now for that secret…. I’m a book-a-holic. I know a lot about reading with the intent to learn. I know how to apply the ideas from the books I read. I have strategies in place now to focus less on the obstacles that have plagued me the past few years. And I recognize what’s been holding me back. I OWN it and let it go. I know how to pick out the big ideas from the books I read. And I know how to combine ideas from different books. I know how to leverage other people’s knowledge.

James Holzhauer, the Jeopardy Champion has told the media countless times how he reads children's book to understand different topics. This is something I've been preaching for years now. Over the weekend, I read Who Was Albert Einstein, Who Was Steve Jobs, and Who Is Bill Gates? One thing they have in common is thinking. Bill Gates and Steve Jobs took action quickly and that's my weak point. I'm a thinker, but I need to find the right balance between thinking and doing.

Who Was Albert Einstein?Who Was Steve Jobs?Who Is Bill Gates? (Who Was?)

In growing your business to a one million dollar enterprise, it's important to read the right books to leverage other people's knowledge and ideas. Then it's more important to implement the ideas to achieve your financial goals.

I mentioned a growth mindset previously. I asked myself if I had the mindset necessary to transform my business into a million-dollar one. I’ve been through a lot in the last five years and it’s made me seriously look at my life. I’ve done a lot of work on myself, shutting down Ms. Impostor Syndrome and letting her know she is no longer welcome in my home.

Another important aspect of operating a small business and growing it into a million-dollar enterprise, is that you get to learn how to effectively manage the tools and resources you need. You have must learn how to manage money and use your time effectively.

Recently, I read this article, “This 1 question made 1 man $100 million.” When I read the headline, I zeroed in on the ‘1 question’ and not the ‘made 1 man $100 million.’ I needed to know what that one question was. Total spoiler alert – the one question is “Why not me?” Since then I’ve been asking myself, “Why not me?” If other women can grow their small businesses into a million-dollar enterprises, why not me?

Books about Mindset and Growing Your Small Business to a One Million Dollar Enterprise That I Already Own

I went into my Kindle app to see what books I already owned that could help with growing your business to a one million dollar enterprise, and here’s what I found.

1. Mindset: The New Psychology of Success by Carol S. Dweck
2. Million Dollar Women: The Essential Guide for Female Entrepreneurs Who Want to Go Big by Julia Pimsleur
3. Invent It, Sell It, Bank It!: Make Your Million-Dollar Idea into a Reality by Lori Greiner
4. Trillion Dollar Coach: The Leadership Playbook of Silicon Valley's Bill Campbell
5. #GIRLBOSS by Sophia Amoruso
6. Million Dollar Builder: Discover the Road Map for Optimizing Your Profit, Work-Flow and Cash-Flow and Achieving a Seven Figure Net Profit in 3 Years or Less by Kurt Hegetschweiler
7. Million Dollar Coach: The 9 Strategies That Drive A 7-Figure Coaching Business by Taki Moore
8. Million Dollar Habits: 27 Powerful Habits to Wire Your Mind for Success, Become Truly Happy, and Achieve Financial Freedom (Habits of Highly Effective People Book 1) by Stellan Moreira
9. Level Up Your Life: How to Unlock Adventure and Happiness by Becoming the Hero of Your Own Story by Steve Kamb
10. The Purpose Is Profit: The Truth about Starting and Building Your Own Business by Ed “Skip” McLaughlin
11. People Over Profit: Break the System, Live with Purpose, Be More Successful by Dale Partridge
12. Cheap Is Good: How to Cut Costs, Boost Profits and Transform Your Culture with Lean Management by Bob Cooper Jr
13. The Art of Profitability by Adrian Slywotzky
14. The Profit Zone: How Strategic Business Design Will Lead You to Tomorrow's Profits by Adrian J. Slywotzky
15. How I Built a Million Dollar Online Store From $600: Your step-by-step guide to building financial freedom through E-commerce Entrepreneurship by Ellen Lin
16. The Million Dollar Writer: How to Have a Legitimate – and Lucrative – Career as a Writer
17. The Drive to Aim High: Seven Powerful Mindsets Proven to Guarantee Your Success by Al Kamara
18. Don't Wait for Opportunity Create It (success habits, millionaire success habits, psychology of winning, gorilla mindset, self-help Book 1) by S. Baker
19. Gorilla Mindset by Mike Cernovich
20. Mindset of An Entrepreneur: Fulfill Your Potential and Think Like an Entrepreneur by The Marketing Guy
21. Business Beyond Business: How to Gain Magnetic Influence, Meaningful Connection and Profitable Publicity by Becoming a Radically Generous Entrepreneur by Paul Edwards
22. The Girls' Guide to Building a Million-Dollar Business by Susan Solovic
23. How to Win at the Sport of Business: If I Can Do It, You Can Do It by Mark Cuban

I’ve read The Girls' Guide to Building a Million-Dollar Business, How to Win at the Sport of Business: If I Can Do It, You Can Do It, and the Art of Profitability. I plan to review my notes now that I’m in the correct frame of mind to grow my business.

Have you read?

The Girls' Guide to Building a Million-Dollar Business

Mark Cuban: Entrepreneurial Business and Success Lessons

I won’t necessarily read all the books. And some of the books may not be worth the “virtual paper” they’re printed on. However, I want to read diverse books to get cutting edge ideas to implement in my business. Many of these books, other small business owners will not be reading, and I like that. I love to go down the path less traveled, reading books off the beaten path. I want to find the opportunities that others are missing. I want to find and explore ideas where niches and even industries intersect.

Books I want to Buy to Help Me Grow My Small Business to a One Million Dollar Business

1. Shark Tales: How I Turned $1,000 into a Billion Dollar Business by Barbara Corcoran
2. The Million Dollar Equation by Richelle Shaw
3. Backroads Boss Lady: Happiness Ain't a Side Hustle–Straight Talk on Creating the Life You Deserve by Jessi Robert
4. In the Company of Women: Inspiration and Advice from over 100 Makers, Artists, and Entrepreneurs by Grace Bonney
5. Your Million Dollar Message: How to Be A Highly Paid Speaker, Trainer or Consultant by Cydney O'Sullivan
6. Million Dollar Consulting: The Professional's Guide to Growing a Practice by Alan Weiss
7. Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz
8. Clockwork: Design Your Business to Run Itself by Mike Michalowicz

Will You Join Me in Growing a Small Business into a Million Dollar Enterprise?

There’s got to be women in my network who want to grow their businesses into million-dollar enterprise. I’d love it if you joined me because it doesn’t have to be lonely at the top. It would be great if we could exchange ideas and knowledge. If you’d like to get a reading and learning strategies tips sheet, you can get hold of one I created.

If you don’t want to join me to grow your business into a million-dollar enterprise and want to do your own thing. Here is a two-month reading challenge that will help you learn how to get the most from the books you read. Once you’ve mastered the skill of reading with the intent to learn, it will serve you the rest of your life. Find details here now! The short reading challenge will help you to develop your mind like Bill Gates.

Consider this my personal invite to you for growing your business to a one million dollar enterprise, will you take up the challenge?

Million Dollar Women: The Essential Guide for Female Entrepreneurs Who Want to Go BigInvent It, Sell It, Bank It!: Make Your Million-Dollar Idea into a RealityMillion Dollar BuilderLevel Up Your Life: How to Unlock Adventure and Happiness by Becoming the Hero of Your Own StoryDon't Wait For Opportunity Create It (success habits, millionaire success habits, psychology of winning, gorilla mindset, self-help Book 1)Your Million Dollar Message: How To Be A Highly Paid Speaker, Trainer or Consultant