One Simple Rule that will DOUBLE my revenue in 2023
No business decision under 10 Million Dollars
One of the rules at my online course company Workshopper is that every initiative we attempt must be able to produce a minimum of 1 million euros in revenue within 12 months. It’s called the 1-12 Rule.
Essentially it’s a way to make sure that the team is always making 7-Figure Decisions VS 5 or 6 Figure Decisions.
Here’s an actual screenshot from the Google doc I created with the leader of that team:
This 1-12 Rule helps the leader of this team assess whether an initiative is worth pursuing before putting resources into it and creates a simple framework for determining which products to focus on.
For me, in 2023, I’ve decided to give myself a rule based on this for the initiatives I pursue: The 10-12 Rule.
In 2023 every business decision I make will be an 8-Figure decision (over 10 Million Per Year), not a 7-Figure decision. Which, if you’ve been following this newsletter from the beginning, means I’m updating my “Million Dollar Search” to a “10 Million Dollar Search”.
Well, there are a couple of reasons:
I already know I can create a business, product or service that can earn 1 Million Gross Revenue per year, I’ve proven that to myself over and over again in the last 11 years and it’s not a very exciting challenge.
8 Figure Decisions are completely different to 7 Figure Decisions and will allow me to upgrade how I think about running and growing businesses, I have to grow significantly out of my comfort zone to make it happen. (example, example).
Money is a simple way to measure progress, one of the easiest, and since running a business is kind of like playing a videogame, it’s kind of boring to keep playing at the same “level”.
What can I say: I want the lifestyle upgrades and security that comes with having a business that makes 8 figures VS a business that makes 7 figures.
So this is my mindset going into 2023 and i’ve already started acting on it by killing off all the smaller-scale ideas I wanted to try in the coming months and focussing on higher-leverage, larger-scale initiatives.
This blog will be the place to see how it plays out.
It’s been fun writing for you all over the last few weeks, thanks for commenting and sharing!
See you all in the New Year,
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Big dog moves