What it means to have a 7-figure business

What does it mean when someone says they have a 7-figure business? In reality, saying you have a 7-figure business should probably mean that your business generates over $1,000,000 in annual gross revenue. However, Some people may use it to mean cumulative gross revenue over an extended period of time or business valuation. It's important to note that even a business that generates over $1,000,000 in annual gross revenue does not necessarily mean it's profitable. There are plenty of examples of businesses that have gone bankrupt or had a negative net income despite generating millions of dollars in revenue. Magnaltus Instagram: https://www.instagram.com/magnaltus/ #business #businessmanagement #businessstartup