March 15th Newsletter

Table of Contents

• Setup Your Business for Long-Term Success

• It’s Okay to Aim for $1k Months

• Free resources for you

The Conversation

Do This To Setup Your Business for Long-Term Success

I'm about to share a secret to eventually making millions with your business, but it all hinges on what you do this year to set yourself up.

In January, I decided I wanted to be more hands-off with certain sectors of my business. The area of choice: Federal Contracts. Long story short, I'm focusing on brokering contracts rather than fulfilling the work with my own employees. In the end, this positions me to manage millions of dollars in federal contracts.

Whether or not you want to enter federal contracting, every U.S.-based business should follow these three important steps:

1. Registering your business with the state: Regardless of the structure you choose, registration is essential. During the registration process, ensure that your state treasury verifies you as an SBE (Small Business Enterprise).
   

2. Register your business in SAM.GOV: Begin the process of obtaining your UEI (Unique Entity Identifier) & Cage Code.
   

3. Attend weekly PTAC/APEX meetings: This will introduce you to state and local decision-makers who have the power to award you local and state contracts.

Even if you don't plan to bid on contracts immediately, positioning yourself while you familiarize yourself with your business and its capabilities is crucial.

The moment you decide your business is ready to expand and create another stable foundation, you'll have already completed 70% of what it takes to become a federal contractor. Paperwork is essential.

It’s Okay to Aim for $1k Months

We all appreciate the wealth of knowledge available on YouTube University, but it's essential to set realistic standards for business success. Let's specifically address 10K club envy.

You often hear people boasting about their businesses making $5,000 per month or $10,000+ per month within just 30 days of starting.

However, in reality, achieving such results in a short time requires substantial resources. As the saying goes, "You either invest a significant amount of money to get quick results, or it will take a long time to achieve your desired results if you're short on funds."

Most of us reading this cannot afford to spend $5,000 on ads to make $10,000 in 30 days (which leaves only $5,000 in profit, and that's being generous). Additionally, this doesn't account for the management or fulfillment of services/products.

That's why it's crucial to consider your capabilities when setting monthly goals. If you only have enough funds to invest $200 in products upfront without waiting for funds to be released, it's okay to aim for a $500-$1,000 month.

Don't let the hype you see online push you into mismanaging your incoming orders and earning terrible reviews for your business.

Many of us yearn for a sudden surge of new business that could lead to a $10,000 month without fully understanding what it takes to run a business at that level. Stay grounded and focused.

Your primary goal is to establish the viability of your business concept so it can thrive. If you feel disappointed or doubtful about not reaching lofty goals in your business, ask yourself, "Have I positioned my business to achieve five-figure earnings without risking its stability?"