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
