Why Getting To $1 Million Matters

What’s the importance of netting one million in revenue annually for women founders? It’s the sweet turning spot where a business begins to generate consistent economic impact.

When a company climbs above the one-million threshold, it inches away from just surviving and enters an era of stability and scalability.

This makes perfect sense. A business can’t bring in one million or more if it doesn’t start adding more people, adopting smarter marketing principles to navigate digital ad changes, investing in growth, and creating loyal fans amidst a trust recession. All that natural expansion then leads to improved leader decision-making and a different way of viewing the company as a potential legacy organization, not just a side gig, hustle, or pet project.

Sherry Deutschmann is the founder of BrainTrust, a community that supports women founders as they scale toward and beyond one million in revenue. She explains that reaching $1 million in annual revenue is a turning point for women entrepreneurs, unlocking financial independence, influence, and the ability to build generational wealth.

Deutschmann understands this from a unique perspective as both a female founder and supporter of female founders. In fact, she just raised $5.4 million to bring her business to more communities within the coming four years.

How Hard Is It To Make A Million?

Just how much of a hurdle is being able to celebrate reaching (and surpassing) one million? On the whole, fewer than 10% of all organizations ever get to at least a million in revenue, via the most recent statistics available. And since women represent around half of all entrepreneurs and may find it tough to gain early-stage momentum, they’re lagging even farther behind when it comes to achieving the million-dollar milestone.

Remember all those barriers to raising money to merely get off the tarmac? They remain in play during the first years of a woman entrepreneur’s journey to seeing her business take flight. This causes major roadblocks that some women find tough to overcome.

That said, I’m heartened because I know that it’s possible for any woman who starts an organization to eventually get to the one-million goal by implementing a few strategies.

1. Connect With Other Women Entrepreneurs

Whether in a formal or informal setting, women entrepreneurs can gain an advantage by meeting and supporting each other. (Who better to understand a female founder’s experiences than another female founder?) This networking will allow them to seek out peers who may become mentors. Entrepreneurs with mentors are three times as apt to keep their businesses running.

2. Learn How To Become A Savvier Problem-Solver

While going with gut instinct may seem intuitive, women entrepreneurs who want to achieve one million for their companies need to be ready to learn advanced problem-solving skills. These can be discovered through consistent self-learning (e.g., reading the latest business and leadership books, attending conferences, listening to podcasts) and structured learning (e.g., attending classes, earning degrees).

3. Take Personal Wealth Management Seriously

Running a business that’s at the million-dollar level gives a founder the chance to start building personal wealth. The wealth can be used today as well as cascaded downward to turn into generational wealth for her family.

To take advantage of wealth through structured, systematic business growth, female founders will want to speak with financial professionals who have experience guiding successful corporate leaders. That way, the women can begin to leverage their growing wealth for both their organization and their personal objectives.

At the beginning of an entrepreneurship journey, a million may seem like a far-off goal. However, that’s exactly the moment to put together a strategy to reach the boundary that can reshape any woman’s entrepreneurship path.