Entrepreneurs

Founder of 7-figure company: 3 things you need to start a multi-million business

Julia Pimsleur, Million Dollar Women
© jean luc mege photography

Julia Pimsleur has a big goal: to help one million women entrepreneurs individually reach $1 million in revenue by 2020.

Pimsleur has built her own seven-figure business, Little Pim, which focuses on language courses for children. She has raised more than $26 million in non-profit and for-profit dollars to date.

In her book "Million Dollar Women," she shares advice she learned along the way, as well as from interviewing dozens of businesses most successful women, including big names, such as Carla Harris of Morgan Stanley.

"We all agree that everything you need to run a big successful business really falls into three categories," Pimsleur tells CNBC.

1. The right mindset

"This is the hardest one of the three," Pimsleur says. When building a business, you'll encounter many situations that will challenge your optimism and courage.

"Get the self limiting beliefs out of your head by writing them down," she writes. "Fill all the newly freed up space in your brain with new skills and the positive opposite beliefs of the ones you got rid of."

Melody McCloskey, a 32-year-old CEO who raised $40 million, says that it was only after she was able to work through negative thoughts that she started seeing business success.

2. The right skillset

Focus on building important skills like raising money, conserving money, delegating tasks to others and expanding your social network, Pimsleur says. Work on your personal skills, too, like how you carry yourself and the way you communicate with others.

"The importance of body language and tone is undisputed," she writes.

Brian Wong, a 25-year-old CEO and start-up co-founder, says that constantly learning new skills was one of the career hacks that fast-tracked him to success.

3. The right network

"Find others who are also on big, bold journeys that require similar tenacity and temerity," Pimsleur writes.

Join local entrepreneur groups, small business organizations, talk to different people at parties and social gatherings, she recommends.

Pimsleur says that by being around people who knew more than her and were equally as ambitious helped her grow her company.

Sophia Amoruso of Nasty Gal recommends that every entrepreneur ditch friends who hold them back.

"If you get those three things right, you can start from anywhere and grow a multi-million dollar business," she says.