Business

5 women who founded 7-figure businesses share their top strategies for success

For these women, there's a common thread: the willingness to go against the grain, to try something new, to fail forward, and to never settle. ...
Hannah Kowalski, Victoria Repa, Jolene Delisle. Dreamers & Doers
Hannah Kowalski, Victoria Repa, Jolene Delisle.

  • Taking your startup from a 6-figure business to a 7-figure business doesn't always have a clear path.
  • Five women founders from the Dreamers & Doers collective weighed in about their specific paths. 
  • Among their tips: Stay obsessed with data, "fail forward," and never be willing to settle.

Making the jump from a six-figure business to a seven-figure business is no small feat. As strategic marketing and brand consultant Hannah Nieves puts it, "What gets your brand to six figures is not exactly what gets you to seven figures."

So how does one level-up to reach that seven-figure mark? To gain some insight, we tapped into the experiences of five women from the Dreamers & Doers collective to learn more about the strategies that scaled their businesses past $1 million in annual revenue. Though each of the strategies featured below are unique, there is a common thread — the willingness to go against the grain, to try something new, to fail forward, and never settle. 

If growing to a seven-figure business is on your vision board, take it from the following women that it is possible with the right strategies in place.

'Be obsessed with data and finding the right traffic sources'

Hannah Kowalski
Hannah Kowalski.

Hannah Kowalski, cofounder of Konscious Keto, combining AI technology, advanced supplements, and personalized coaching all in one platform

My No. 1 strategy for growing a seven-figure business: We were able to go from six figures to seven figures within a few months by utilizing very high-converting sales funnels on the right traffic sources. The key was continuous testing and optimizing and being obsessed with data. 

My advice: Find the top three traffic sources that you think would work best for your business. A lot of people just start with Facebook, but for some influencers and bloggers, maybe YouTube is a better fit. Look at your competitors and see where they're running their ads. Start with a small budget, and optimize for click-through rate and cost per thousand impressions first. Then move to the optimization phase, and eventually the scaling phase. Always be testing. Google Optimize is an awesome testing platform that you can use for free to do A/B testing and multivariate testing. 

'Delegate often and efficiently'

Rachel Beider
Rachel Beider.

Rachel Beider, CEO of PRESS Modern Massage, an award-winning modern massage company with locations in NYC

My No. 1 strategy for growing a seven-figure business: When I opened the second location of my massage therapy business, I felt stretched too thin, and like I was failing all of the time trying to do everything myself. I had to get out of my own way and learn to ask for help. Being able to delegate effectively made a massive difference in the growth of my company from six to seven figures.

My advice: Every year, aim to take 70% of whatever you're doing off your plate and delegate it down the line to the next person. Your team should always be learning new skills, growing, and being open to even more opportunities. Approach these changes from a place of servant leadership, making sure that your team has everything they need to thrive and succeed.

'Make mistakes quickly and find improvements accordingly'

Victoria Repa
Victoria Repa.

Victoria Repa, founder and CEO of BetterMe, a leading behavioral healthcare company

My No. 1 strategy for growing a seven-figure business: The key to my success is the "fail fast and cheap" strategy. The idea is that you should experiment and move quickly, and find mistakes and possible improvements before you invest more in the product. We learn the most from our failures, but expensive mistakes can tank any business. 

My advice: Some of your opinions about the market, customers, and their behaviors are probably just assumptions. Be sure to test your ideas as fast as you can, make a decision, and implement them. Then wait, analyze, and repeat the cycle.

'Ensure your customers feel valued'

Jolene Delisle
Jolene Delisle.

Jolene Delisle, founder at The Working Assembly, a branding and creative agency partnering with emerging and evolving brands

My No. 1 strategy for growing a seven-figure business: The strategy that enabled me to go from a six-figure business to seven-figure was actually taking on projects and clients for less money. I know this sounds counterintuitive, but every time someone gives you money — whatever the amount — it's very important to be as accountable as you can be with that trust. In doing so, we grew our organic referrals because clients felt valued and reassured. 

My advice: Invest in yourself — believe that you can do it, and you are worth the risk. 

'Shift your mentality to operating a seven-figure business'

Hannah Nieves
Hannah Nieves.

Hannah Nieves, founder of Hannah Nieves Consulting, a strategic creative consulting agency that champions luxury lifestyle visionaries

My No. 1 strategy for growing a seven-figure business: My strategy actually didn't have anything to do with business — it had to do with mindset. My business was growing quicker than where I was mentally, and I had to shift the perspective that we were operating a business of that size in such a short amount of time. 

My advice: I would recommend getting very clear on your future vision of the brand. As you're scaling your company, it can be easy to get stuck in the day-to-day and lose sight of where the brand is going to be five to 10 years from now. 

All individuals featured in this article are members of Dreamers & Doers, an award-winning community and diverse ecosystem amplifying extraordinary entrepreneurial women through PR opportunities, authentic connection, and high-impact resources. Learn more about Dreamers & Doers and subscribe to its monthly The Digest for top entrepreneurial and career resources.

Read the original article on Business Insider

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