It bears repeating that 90% of businesses started fail within 10 years. And just about every single business owner I meet is smart and passionate. So that alone doesn’t cut it.
There are a variety of reasons for the failures, ranging from poor vision, poor planning and/or execution, poor leadership, lack of uncompromising values, insufficient marketing & sales, lack of investment capital, and the like.
There are a few common characteristics of successful business owners, but the most prominent being they engage a proven mentor/coach.
- Great Products & Service
- Great Vision
- Fantastic People
- Flawless Execution
- Always Enhancing Value to Their Clients
- A Culture of Family and Values
The best part is the owner is stepping away more and more from the business, and is living life to the fullest. That’s the real dream, right?
According to the US Census only 1% of small businesses are billing > $1 million per year (26,744 of the total 22.5 million listed). Imagine what your life would look like if you were billing $1 million per year…or even per month!