Do you want to make a million dollars or more in your business? It’s not as difficult as you may think. In this blog post, we will discuss the steps that you need to take to achieve this goal. We will also talk about the mindset that you need to have in order to be successful. So, if you are ready to learn how to make 7 figures in your business, keep reading!
What is a figure in money?
The word “figure” is often used to refer to any numerical quantity. For example, the price of a product might be expressed as $10.00 per figure. This means that if you buy 10 products at $1.00 each, your total bill would be $10.00. If you bought 20 products at $0.50 each, your total bill is still $10.00. If you were buying 50 products at $0.20 each, then your total bill would be only $5.00.
In common speech, a figure is used in phrases like “7 figures income.” This is understood to mean $1 million or more; there are seven digits in the number.
The word is has quite a history in language, first introduced in the 17th century when the English adopted the decimal system from the Romans. In this system, one unit (a penny) equals 100 units (cents). A cent is equal to 1/100th of a pound sterling.
The word “figure” comes from the Latin figura meaning “form”. This refers to the shape of the coin. For example, a halfpenny is shaped like a half circle.
What is 7 figures and what does 7 figures mean?
7 figures when it comes to income is an amount between $1 million dollars but less than $10 million, specifically between $1,000,000 to $9,999,999. To most people, 7 figures seems like an unattainable goal. But the truth is, it’s not as difficult as you may think. In fact, there are many people who have made 7 figures in their businesses.
To earn 7 figures a year, you’ll be taking home $19,230.77 per week or $2739.73 per day!
What does it mean to make 8 figures in your business?
The next level up from 7 figures is of course, making eight figures in your business. This is an income of $10 million dollars up to $99,999,999 million per year! Making eight figures in your business is the dream for many entrepreneurs. But it’s important to remember that this is just a goal. It’s not something that you can expect to achieve overnight.
How much is a 9-figure income?
The last level of a 9 figure income is anything between $100 million and nearly ! billion dollars ($999,999,999). This is an income of $100 million dollars or more per year! A nine-figure income is the Holy Grail for many entrepreneurs. But, just like making eight figures, it’s important to remember that this is just a goal.
A ten-figure income of course means you are earning $1 billion per year. At the $1 billion mark, you can make a signficant positive impact on the world. What are some of the amazing things you would give or donate with your billion dollars?
Developing a Millionaire Mindset
Everything you have heard about proper mindset with wealth accumulation is completely true. You must have the right mental outlook about money, and the right relationship with money — its importance in your life, its purpose, and so on. Money doesn’t care if you’re a good person or bad person; there are good people who are poor, good people who are rich, and bad people at both ends of the economic spectrum.
If you look at the top income earners, they have something unique to offer. It could be perceived uniqueness or actual uniqueness. It might be their athletic ability, or a celebrity status, or an invention. It may be an exceptional skill like being a formidable attorney or gifted neurosurgeon. It could be a savvy businessperson like a real estate investor or owner of a busy restaurant or chain of stores. There are many roads to earning $1 million per year. The key question is, what will you contribute to earn that? What mental and emotional growth will you need to achieve? What physical ability will you need in your chosen field?
Perhaps the greatest mental muscle you can flex is gratitude. Gratitude opens so many doors of opportunity. Always try to be grateful, even in the hard times. It might be hard work just to find gratitude in the midst of life’s deepest challenges, but if you can learn to always be grateful no matter what, it will take you far.
What are the steps that you need to take to earn $1 million up to $1 billion?
Now that you are starting to think about what you will need, you have a thought about what your outcome looks like. Now back that up a step at a time. What did your future self need to learn to attain that? Now take another step back: what did you need to learn to attain THAT step? And so on, back to the present. You are standing at the edge of greatness, all you need to do is take the first step and stay on the path to your goal.
How do you go about making a million dollars or more in your business?
There are a few things that you need to do in order to make 7 figures in your business. First, you need to have a product or service that people want or need. Second, you need to be able to reach your target market. And third, you need to be able to sell your product or service.
If you can do these things, you will be well on your way to making 7 figures in your business.
Earning 7 figures or more
We have seen that opportunities exist to earn $1 million or more; others are already doing it, why not you! Work hard, make good choices, recover from the bad ones, weather adversity, keep learning and adapting, don’t give up, stay the course, and you will get there.