The 100 Penny Problem

Without sales there is no business. That is the short, hard truth of the matter. Business exists because of an exchange of goods and services.

If there is no exchange (AKA sales), there is no business. This makes sales and sellers the core of every industry. And in our noble pursuit to grow our business or the business we represent, most of us have a desire to make a good amount of money in the process.

The path to those riches has a very humble beginning. Just $1. Most of us want to see high 6- or 7- figures.

$1 of Validation.

First and most importantly, earning the first $1 proves that you can sell. It also proves that your product can be sold. Those are two very important milestones.

Without that first sale, there is no way to build to the riches that we want. Earning $1 proves that we can convince people of the worth of our product. The first dollar also demonstrates that we are at least somewhat credible.

From a product perspective, a product only has value if someone else wants it. A product that is not useful or a product that does not solve a problem has no value. If there is no value, it cannot be sold (or should not be sold). Earning that first $1 proves that a product is marketable and that there is a demand for it.

Scaling from $1.

These initial sales are typically direct and often transactional. This means that hard work and some extra effort can grow that $1 into $100,000.

All that is needed is to duplicate the process used to make that first $1. Then just add in the extra effort and you are on your way.

Now that you have the process down, you can even hire some people to sell with you or on your behalf. Teach them the process and you can have a team selling. All you have to do is master that first $1.

Compounding $1’s.

In 2002, the Oakland A’s found surprising success. They broke with tradition and steered away from signing players that hit home runs. Instead, the team focused on signing players that could get on base.

The more players on base equaled more runs crossing home plate. Sales has a similar concept. Sales do not have to be huge to make a difference.

Small, compounding earnings are typically better for an organization. Yes, everyone love cashing big checks. But, small consistent sales can produce the same results.

Many smaller sales are typically more diverse. Diversity reduces a lot of risk. High volume, low risk sales produce a good business model.

Take Aways.

Striving to make a $1 is a good goal. It is small and achievable. And $1 is the foundation for both scaling and diversifying.

Make selling at least $1 each week a goal. Quickly, those $1’s will compound and accumulate. Hits do not have to be home runs. They just need to get you on base.