Getting to Seven Figures: 5 Crucial Success Pointers

Thousands of new firms are developing in the Middle East as a result of a rise in entrepreneurial activity within the startup ecosystem. Local governments are providing incentives, infrastructure, and startup-friendly regulations. The region’s strategic location, access to global markets, thriving venture capital scene, and rapid adoption of digital technologies are contributing to this explosive growth.

Startups worldwide face challenges in reaching US$1 million revenue, particularly for women. The global innovation ecosystem is male-dominated, favoring men’s support networks and mentoring opportunities. Women must work harder to gain social capital and relationships to grow their businesses. Women who are afraid of failing or who have self-limiting views may not pursue entrepreneurship as a career. Balancing business responsibilities with familial duties may increase the risk of burnout for those who do venture into entrepreneurship.

Women entrepreneurs are demonstrating resilience and creativity, showcasing their success in various sectors. H.H. Sheikha Bodour Al Qasimi, CEO of Kalimat Group, promotes Arabic literature and cultural preservation in the Middle East. Sarah Abu Rishah co-founded FriendyCar, the first peer-to-peer car-sharing platform in the region. Noor Al-Hassan, CEO of Tarjama, leads a legal services company in the legal industry, driving growth and setting new standards for innovation.

The author shares her journey to becoming an entrepreneur, overcoming challenges and lessons in growing three seven-figure businesses. One of her ventures was a physical dance studio that benefited from energy and interpersonal relationships. However, the COVID-19 pandemic disrupted her business model, forcing her to offer digital movement classes. Despite the challenges, she adapted her curriculum to maintain the essence of her in-person sessions, expanding her reach beyond geographical limitations and resulting in even more profitable digital classes.

Having grown three seven-figure firms since emerging from this crisis, I owe a great deal to my intimate knowledge of the sales process. I now help other business owners—especially women—understand that success has many facets by sharing my experiences with them. It involves both having a strategic strategy and being resilient and adaptive. It’s about creating a company that prospers in spite of obstacles rather than just surviving them. If you want to expand your business to seven figures as well, here are some guidelines to help you through the process:

1. Examine your beliefs that limit yourself

Start by analyzing the attitudes and routines that may be preventing you from creating the kind of business you’ve always wanted. Oftentimes, we limit ourselves without even recognizing it. Are you holding yourself back from taking required risks because of old fears or beliefs? Consider the ways in which you might change your perspective to one that is more growth-oriented.

2. Consider scaling or growth as a mathematical problem

Comparing your efforts (spending) and outcomes (profit margin) is the science of scaling. Profit margins can rise dramatically even with slight adjustments to strategy or spending. Carefully examine your data to find areas that could benefit from optimization for improved outcomes.

3. Find Your Tribe

Setting up a support system of peers and advisors you can turn to for advice can really change everything. I encountered a remarkable group of like-minded individuals on my Middle East trips, and these relationships have been quite helpful to me to this day. Embrace the company of positive and inspiring individuals whenever possible. Enroll in women-focused business organizations, go to neighborhood get-togethers, and look for mentors who have experienced similar situations as you.

4. Improve What Is Successful

Consider your business’s strengths and build on them. Make use of your advantages rather than throwing all of your energy into fixing what isn’t working. Make more of an investment in your best-performing goods, services, or marketing avenues. By building on past success, this strategy not only makes the most of your resources but also promotes exponential growth.

5. Take The first step now

The path to seven-figure success is not without difficulties, but you can overcome these roadblocks and use them as chances for personal development if you take a deliberate approach. You can achieve your ideal business, so get to work creating it now!