My first $10k month as an agency owner

The 10K monthly milestone is often glorified in the entrepreneurial world. As someone who has hit this milestone, I thought it would be useful to share my experience and the reality of this achievement. For context, I've been running a development agency Mossoai for two and a half years, working in the six-figure range and aiming for seven figures. My first 10K month was about a year and a half ago, and here's what I learned from it.

How I Made the Money

The money came from my software agency Mossoai. My first deal was for 11 grand, but the payment was broken up into several months. My first 10K month came from two deals whose payments came in the same month. It took about a year to reach this point.

What I Did with the Money

Rather than buying expensive items, I invested in people. I began contracting out more and hiring full-time employees. This was a significant change in my life as I now had salaries to pay every month.

The Aftermath

After hitting the 10K month, life didn't change dramatically. The biggest change was the added stress of having more responsibilities, especially in terms of salaries. The goalpost had moved, and I now had a new standard to maintain, which can be both motivating and stressful.

The Journey to 10K

It's important to note that the journey to a 10K month can vary greatly. Some people reach it quickly, while others, like me, take longer. I had been in business for about 4 years before hitting this milestone, and during that time, I often felt frustrated and stuck.

The Importance of Persistence

One of the biggest lessons I learned is the importance of persistence. Many people, including myself, often jump from one opportunity to another, hoping to find the magic formula for success. However, the key is to stick to one thing and work on it consistently. For me, that was my development agency.

The Reality of Business Growth

Business growth is often a slow process. The actions you take today may only yield results in six months. This can be disheartening, especially when you feel like you're not making any progress. However, it's crucial to be patient and consistent, as these are the actions that will eventually lead to those 10K months.

The Role of Strategy

While strategizing is important, it's also easy to get caught up in it and neglect taking action. The most effective strategy is to focus on getting your first client and then executing that strategy consistently.

Conclusion

Hitting the 10K month milestone is a significant achievement, but it's not the end-all-be-all of entrepreneurial success. The journey to this milestone is filled with challenges, lessons, and growth. The key is to be patient, persistent, and focused on taking consistent action.

Remember, the goalpost will always move, and that's okay. It's part of the journey. If you have any questions or want to know more about my experience, feel free to ask. I'm always happy to share my insights and learnings.