Is Your Business Elite?

by | Jun 15, 2018

If you are a $1M+ business owner, you are rare.

While the posted numbers from different sources vary slightly, there is consistency in the message… you represent the elite when it comes to growing a business.  If you take into account every business that ever started (not just the ones the government knows about), only 3% of businesses ever make it to $1M in annual sales.  Only 3%! That’s why you are elite.

Having successfully grown a business to $1M+ in sales, you’ve probably figured out that what got you to $1M isn’t going to get you to $10M.  In fact, as an elite business owner, you may not have even realized what you learned that the vast majority of business owners never figure out.

Now, I’m not saying that you’ve necessarily mastered these things, but I’m confident you would not have made it as far as you have without sufficient mastery in these three areas:

  • Time management allowed you to get to $100k
  • Sales capability enabled you to grow to $300k
  • Marketing and Fulfillment muscle propelled you to $1M+

So, you deserve a hearty “Congratulations!” for achieving what 97% of businesses never achieve.  But, as you look around at what you have, you may not be feeling elite at all. In fact, if you are like the hundreds of Elite business owners we’ve helped along the way, you find yourself staring at a whole new set of challenges.

After a nice run of growth to a $1M+, it is not uncommon for businesses to plateau or hit a revenue ceiling that they can’t seem to break through.  Or, if they make a herculean effort and hit a new revenue mark one year, they tend to take a step back to a prior level the following year.

Another common challenge facing the $1M+ business owner is this “weight of the world on your shoulders” feeling that you can’t seem to ever quite shake.  You have enough employees now for some of that weight to be distributed, but instead of feeling lighter, it seems like having more employees only creates more headaches and issues for you to manage.

You may have had thoughts like, “Why don’t I just shrink the business back down to a more manageable size?”  In many cases business owners look back on those smaller teams with a sort of longing. There seemed to be less work and less trouble with the same or even greater levels of profitability.  Why would you want to sign yourself up for more work with less pay?

Yet another common thread we hear from $1M+ entrepreneurs is that they are good, even excellent at their craft but don’t really know how to run a business.  Many elite business owners have legitimate concerns about their own abilities to lead a growing team of people into an unknown future.

If you’re thinking, “I’ve never done this before.” you’re not alone.  I could go on and on with some of the common things we hear from businesses who’ve hit that ‘Elite’ status, but here’s the punchline… IF (and that’s a big IF) you want to grow your elite business to $10M and beyond you must do the work required to get there.

The only difference between an Elite business who wants to grow and a business who wants to get to that $1M mark is the starting point.  Elite businesses just have a new set of “elite challenges” to figure out if they want to keep growing. The good news is that these challenges are predictable and addressable.

You are an Elite Entrepreneur because you have successfully done what 97% couldn’t figure out.  We’ve named our company Elite Entrepreneurs because we’ve made it our business to help as many $1M+ businesses as possible take the steps necessary to grow to $10M and beyond.  We’ve seen it and lived it and now we are helping you take a similar path for your business.

Now you know why you and we are Elite Entrepreneurs.        

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