Meet Ross Johnson, a 31-year-old serial entrepreneur and co-founder of Smart Coach, an innovative platform that enables individuals to start a business from scratch. He is also the visionary behind his MemberUp, a platform that provides creators with a comprehensive solution for hosting online courses, building communities, and organizing events. Ross Johnson is a pioneer in the world of entrepreneurship, with an amazing track record in which he founded four different his seven-figure businesses in just six years. In this article, we dig into his top 5 rules for ambitious entrepreneurs looking to build their first million dollar business.
1. Put your passion first: Build your business around what you love.
Ross Johnson's entrepreneurial journey is a testament to the power of passion. His first rule for success is to find a topic or niche that you really like and build a business around it. Passion is the driving force behind dedication and perseverance, an essential quality for budding entrepreneurs. When you're passionate about your business, it doesn't feel like work. It will be a labor of love. This enthusiasm will not only motivate you, but it will also resonate with your audience, making it easier to attract and retain clients who share your passion.
2. Charge more for a great client experience
Ross's second rule is to charge a premium price for your products and services to create a great customer experience. While some entrepreneurs may want to offer lower-cost options to attract a wider audience, Ross believes in the power of high pricing. Charging more allows you to provide a better experience for your clients because you can invest more resources in their success.
There are also some benefits to working with a small number of high-income clients. These clients tend to be more committed and take your suggestions more seriously, resulting in better results. Additionally, charging a premium price will make your clients perceive more value in your product or service, increasing their overall satisfaction.
3. Master the art of selling: Always sell.
Ross's third rule revolves around the importance of sales skills. He emphasizes that every interaction, whether in a business context or in your personal life, includes an element of selling. Whether you're convincing your child to go to bed early, persuading someone to buy a product, or motivating yourself to go to the gym, you're engaged in sales.
Ross's insight is profound. In every interaction, people are either being sold or being sold. Developing your sales skills will give you a competitive edge at work and in your personal life. Learning how to communicate effectively, positively influence others, and navigate the dynamics of persuasion are invaluable assets for entrepreneurs.
4. Seek guidance: Learn from those who have been there.
Mentorship is the cornerstone of Ross's fourth rule for success in entrepreneurship. He emphasizes the importance of learning from those who have already achieved what you hope to achieve. Mentorship provides a shortcut to success by providing guidance, insight, and a roadmap to navigate your entrepreneurial journey.
Ross has personally benefited from mentorship and attests to its transformative power. In the beginning of his business, he faced challenges and uncertainties. However, by seeking the guidance of a mentor, he was able to gain a deep understanding of the business landscape and achieve results quickly. Mentors not only help you avoid common pitfalls, but also help shape the mindset that is essential to entrepreneurial success.
5. Commitment and investment: Give it your all.
Ross's final rule is a call to action: “Do your best.” To attract investment from others, you need to be fully invested in your own efforts. Entrepreneurship requires dedication, perseverance, and unwavering commitment. To encourage others to invest in your vision, you need to demonstrate your own commitment by giving your all to your venture.
When you are deeply committed to your business, it radiates confidence and conviction and attracts supporters, collaborators, and clients who share your belief in the potential of your venture. Going all out is not just a business strategy. It's a mindset that drives you toward your goals and inspires others to join you on your journey.
Ross Johnson's trajectory from serial entrepreneur to co-founder of Smart Coach and MemberUp is a testament to his entrepreneurial talent. His 5 Rules for Building a Million Dollar Business provide valuable insight for aspiring entrepreneurs. Following his passion, setting premium prices, mastering sales techniques, seeking mentorship, and demonstrating unwavering commitment can chart his path to entrepreneurial success.
These rules serve as a roadmap, guiding you through the complexities of entrepreneurship while emphasizing the importance of passion, values, and continuous learning. Ross Johnson's entrepreneurial journey embodies a spirit of innovation and resilience, and that with the right mindset and strategy, anyone can realize his dream of building a million-dollar business. It reminds me of.