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Anchor Advisors offers small business consulting in the Chicago area. Our advisors help businesses to grow with confidence and make better decisions.

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Do you want to make it into the elite 2%?

By Brad Farris Leave a Comment

We all know that it’s hard to grow a business — if it were easy, everyone would be doing it. But just how hard is it?

80% of all businesses have no staff; they are just the entrepreneur and nothing more. If you’ve hired someone, you are already in the top 20% of US businesses!

Only ~4% of businesses make it to a staff of 10 people (or roughly $1M in sales). If you grow to 10 people, you are in the top 96% of all US businesses. 

Only 2% of all businesses get to 20 employees, and there are only 30,000 businesses in America with more than 500 employees (0.1% of all businesses). 

So where do your ambitions lie? 

Are you OK in the top 4% — you can make it to a million in sales and that’s fine for you? Or do you want to go further and get into that $2M – $5M range? 

If your goal is to sell your business and retire on the money you make, you are going to have to grow bigger than 99.6% of all businesses in America. 

Do you have that in you? 

Data From: https://www.sba.gov/sites/default/files/advocacy/2018-Small-Business-Profiles-US.pdf

Filed Under: Email Archive

About Brad Farris

As Principal Advisor, Brad Farris guides business owners through the pitfalls and joys of growing their business. Brad is passionate about helping business owners find better ways to do things, make more money and enjoy life more. Brad is a speaker and author. Connect with Brad on Twitter and LinkedIn.

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