Ep. 187 - Why Most Businesses Never Hit $1M Revenue: Top 5 Stumbling Blocks
Fewer than 5 percent of businesses earn over $1 million in revenue and only 11% have 20 employees or more. For many entrepreneurs, those are magic numbers to reach so they can experience greater freedom from the business. Reaching those revenue and staff milestones means they have the resources and team to handle business while they go off on a great family vacation for a month.
Why do the majority of business owners stay stuck? The simple answer is they don’t have enough sales to build the team to handle business while they’re gone. But the real answer is deeper than that.
This episode explores the top 5 reasons businesses stay stuck.
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Key Takeaways:
You’re wearing too many hats
You’re casting a wide net
Your margins are too small
You have people in the wrong seat
You aren’t resting
