Extremely successful founders often value impact over revenue, however, it doesn’t reduce the historic milestone of leading a company to its first million dollars.
With the COVID19 pandemic prompting a record jump in business registrations (here), AESTOLOGYY sought out five extremely diverse entrepreneurs for an honest behind-the-scenes reflection on the moment they led their company to its first million – advice, regrets and wisdom.
Demonstrating the power of individuality, each of these profiles reflect extremely different commercial approaches and adventures, however all have one thing in common: ‘million dollar ambition.’
The rise and fall of businesses every day reinstates the truth that entrepreneurs are accountable to themselves, presenting the opportunity to learn, and be inspired by, those who have gone before.
Irene Falcone has founded one of Australia’s leading e-commerce giants in natural and cruelty free beauty products, Nourished Life, and is recognised for leading the conglomerate to its first million faster than most.
“I was so busy at the time I didn’t really get to enjoy that ‘million dollar’ feeling.”
A milestone many entrepreneurs dream about, Falcone admits her busyness got in the way of truly seizing the moment.
Nourished Life is a renowned e-commerce portal that promotes toxic-free and eco-friendly living, especially in the realm of beauty and cosmetics.
Falcone first promoted her business through Facebook and was in control of all revenue and spending – the later one of the reasons she believes helped hit the first million comparatively early on.
Recognising that she ‘missed’ the moment, Ms Falcone wanted to ensure it wouldn’t be the same for her second business.
When Falcone’s second business, Sans Drinks, the home of mindful drinking with non-alcoholic beverages replicating wine and beer, hit the one million mark, she sought to ensure her ambition made room to “enjoy the journey”.
“I’m taking much more time to enjoy the journey – making sure I stop and enjoy those feelings.”
Falcone’s conglomerate is now on track to reach $4 million this year, and she is at a stage of success where she can actively appreciate each milestone for what it’s worth.
“I have come to realise business is really all about the journey, not the destination.”
|PRODUCT||PRICE A$||BUY LINK|
|ZEBRA GK420T THERMAL TRANSFER LABEL PRINTER||$600||BARCODES|
2. Mia Vicary, founder of Media in Action
Social media and online marketing are fundamental to the building blocks of successful businesses, and young entrepreneur, Mia Vicary, from Sydney recognised this early on.
Beginning with only $50 in her account, she pioneered Media in Action (M.I.A), a communications agency for the millennial age which “fuses old-school PR practices with modern marketing methods.”
Launched in early 2019, Vicary’s M.I.A hit the one million dollar milestone after only 15 months.
“In a word, ‘incredible’ describes how it feels to have made my first million.”
Vicary’s ethos embraces a modern spin different to traditional communications agencies, which she believes catapulted her business to the one million dollar mark – specialising in “creating social currency” for clients in the ever-changing digital landscape.
With those values at the forefront of her business, she is also seeing her client’s companies boom in such a comparably short amount of time.
Despite being at the ‘beginning’ of her business journey, Vicary has encountered rampant success from her proactive nature and ever-learning commercial acumen.
“Surround yourself with the right people, don’t be afraid to take a risk and actually consume what you trade in, and with this genuine passion and positivity, you’re best-placed to find success.”
|PRODUCT||PRICE A$||BUY LINK|
|iPhone 12 Pro||$1699||APPLE|
3. Loren Howard, founder of Prime Plus Mortgages
Loren Howard, serial entrepreneur and founder of Prime Plus Mortgages in Arizona USA, holds great satisfaction for the lessons and learnings gained in buidling multi-million dollar companies – more than the monetary markers.
“I felt really accomplished and good in the short [term], but looking back, more important than the money was the skillset, relationships, and resources cultivated.”
Prime Plus Mortgages is a lending company, specialising in hard money loans for developers, property flippers and buy-and-hold strategists.
Whilst Mr Howard has enjoyed the journey of the making money, he sees the potential of what he’s learnt on the journey carrying him even further.
“These things are invaluable, and you carry them with you to the second million and then the tenth million.”
Howard’s experience speaks for itself; involved for years in various financial services, a member of the Entrepreneurs Organisation’s Arizona chapter, and sitting on the board for the Valley Guardians, a non-for-profit which raises money for local underprivileged children.
Looking back on the journey of building financially-thriving businesses, he states things become second nature once you “polish your skillset”, which to him is more important.
|PRODUCT||PRICE A$||BUY LINK|
4.Simone Vincenzi, co-founder of GTeX
Rising from the potential of homelessness to become a serial entrepreneur, Simone Vincenzi saw making the first million as a natural progression of hard work.
“It was an achievement because it took several years to reach this goal through perseverance and dedication, ups and downs.”
Now a frequent writer for Forbes and Entrepreneur Magazine, in 2016 Vincenzi was nominated in the UK House of Parliament as one of the region’s most influential migrant entrepreneurs.
In 2018, he won the Maximise Man Of The Year award.
Vincenzi made his first million running an events company which generated income not only for other businesses, but inevitably his own – also gaining trust to sell his products personally. It was a lot of work, but he knew it would lead him to bigger and better business ventures, such as GTeX.
GTeX, which he eventually co-founded, is a company which assists businesses to become profitable – turning “experts into the authority of their niche.” The organisation has helped over 500 businesses to become profitable, all before Vincenzi turned 30.
Vincenzi attributes his success not solely to himself, but the broader community upon which he’s built a foundation.
“Build your community around the services that you deliver, and you will have a customer for life – the community will build the business for you.”
5. Anaita Sarkar, co-founder of Hero Packaging
Anaita Sarkar, the co-founder of Hero Packaging, saw making the first million as less significant than the impact she was helping make.
‘Making our first million was, of course, a huge and exciting milestone as a small business. However, in terms of our mission as a business, it plays a very small part.”
Hero Packaging is one of the world’s leading eco-friendly businesses selling biodegradable mailers, and recently celebrated 5 million HEROPACKS distributed around the globe.
To Sarkar, the accomplishment of impact exceeds than the monetary milestone. She views the million dollar milestone as more than just the dollar value, rather a picture of progression towards reducing plastic packaging in commercial usages.
“We would rather celebrate the number of plastic products we have removed and replaced from the environment. That’s what excites us most.”
Sarkar believes one of the reasons why the Hero Packaging brand is successful is because it focuses on return customers, encouraging loyalty over finding new clients.
“Really learn about what your customers want and listen to their feedback, and constantly change your business to adapt to their needs.”
According to Sakar, bringing business back to the customer’s needs is where million dollar ambition thrives.
“While you grow, stay agile, and focus on customer happiness more than anything else.”
|TRY||PRODUCT||PRICE A$||BUY LINK|