There are 32.5 million US small businesses.
Most fail in a year.
These 8 facts may save you from losing money on your startup:
Most fail in a year.
These 8 facts may save you from losing money on your startup:
CEOs don't make a ton of $.
86% of SMB owners make <$100,000.
So if you make over $8,333/month, you’re in the top 14%.
86% of SMB owners make <$100,000.
So if you make over $8,333/month, you’re in the top 14%.
Expect to bleed before your billions.
98% of startups make $0 profit in the first 2 years.
10% fail completely.
So if you have sales... you're winning.
98% of startups make $0 profit in the first 2 years.
10% fail completely.
So if you have sales... you're winning.
Most businesses are just jobs.
Small businesses with 0 employees average $44,000 annual revenue.
So if you sell more than $3,666/month on your own, you’re top 10%.
Small businesses with 0 employees average $44,000 annual revenue.
So if you sell more than $3,666/month on your own, you’re top 10%.
Revenue is NOT profit.
The average small business operates at a 7% profit margin.
So if you’re keeping more than 7¢ for every $1 sold, you’re better than average.
The average small business operates at a 7% profit margin.
So if you’re keeping more than 7¢ for every $1 sold, you’re better than average.
Is it a business or a side hustle?
Small biz’s with 0 employees average $3,000 annual profit.
So if you net over $250/month by yourself.. you’re in the top 50% of biz's your size.
Small biz’s with 0 employees average $3,000 annual profit.
So if you net over $250/month by yourself.. you’re in the top 50% of biz's your size.
Cash is never trash.
82% of failed businesses blame their failure on a lack of cash flow.
So if you have more cash going in than out, you have an 8x bigger chance of success.
82% of failed businesses blame their failure on a lack of cash flow.
So if you have more cash going in than out, you have an 8x bigger chance of success.
7 figures is truly rare.
The average small biz makes $100,000 yearly revenue per employee.
So if you’re making a million per year with 10 employees - congrats, you’re average.
The average small biz makes $100,000 yearly revenue per employee.
So if you’re making a million per year with 10 employees - congrats, you’re average.
And yet your small biz is crucial.
50% of all US workers are employed by small businesses.
So if you think that’s too low… you’re right.
Main Street > Wall Street.
50% of all US workers are employed by small businesses.
So if you think that’s too low… you’re right.
Main Street > Wall Street.
If you want to build your bank account...
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I write deep-dive breakdowns in my newsletter each week to 170,000+ others.
Join us here:
contrarianthinking.co
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