The entrepreneur journey in Facebook emojis:
STAGE 1 – Startup! $0 – $50k: There’s over 100 million startups in the World that start each year! Unfortunately 80% won’t survive more than 18 months…
STAGE 2 – Micro-business $50k – $300k: If you get up and running, with your customers & products, now you’re in the struggle zone. Some scale back and choose the life of the one-man-band. Other push through and build their team.
STAGE 3 – Lifestyle business $300k – $2M: Success! The battle was worth it and your business is now a time machine, where you can turn your time into a high performing team, giving you high performing time.
This is the reward of the journey. Do you now relax and travel, with the business working without you, or push through to the next level?
Less than 4% of the World’s 150 million businesses grow beyond $1 million in revenue, and less than 4% last more than 10 years…
STAGE 4 – SME $2M – $10M: You push through only to find even greater challenges as you scale. Now, suddenly strategy, systems, talent and training need more money up front and you’re back in the struggle zone.
STAGE 5 – Medium to large corporation $10M – $50M+: You’re now a company that can dramatically impact your market and the World.
Less than 1 in 1,000 businesses make it past $50M. But today, if you deliver the right value and catch the right wave, you can reach that mark faster than ever. So be prepared for the zones, commit to your goal, and enjoy the journey!
“The journey of a thousand miles begins with one step.” – Lao Tzu
And if your company fails? Start again…
“Nine out of ten businesses fail; so I came up with a foolproof plan: Create ten businesses.” ~ Robert Kiyosaki