Peter Vander Wall argues that hitting a revenue target like $1M a year doesn't create freedom. What matters is having a reliable system you can activate when clients leave or mistakes happen. Without it, higher revenue just amplifies your vulnerability.
Chapters
Freedom doesn't come from reaching a certain revenue mark. It comes from having one specific system in place that actually has nothing to do with delegation or hiring. You see, most firm owners, they think they'll be free once they hit a million dollars a year or 100k a month or some other magic number that they've just set in their head. But higher revenue actually just amplifies whatever other chaos you already have in your business when you don't have this one system in place. And what I'm referring to here is a money making system. Do you have levers to pull so that you can make money if you're ever in a pinch? If you lose a big CL client or maybe a team member makes an expensive mistake? If you have a big red make money button that you can just press, you'll make it through okay. But the problem is most firms rely entirely on other people giving them referrals to get new clients in the door. And so even if you're making millions of dollars a year, you're only one accident away from a really painful squeeze.