Turning a small business into a big one is never easy. The statistics are grim. Research suggests that only one-tenth of 1 percent of companies will ever reach $250 million in annual revenue. An even more microscopic group, just 0.036 percent, will reach $1 billion in annual sales. In other words, most businesses start small and stay there. But if that’s not good enough for you—or if you recognize that staying small doesn’t necessarily guarantee your business’s survival— there are examples of companies out there that have successfully made the transition from start-up to small business to fully-thriving large business.
Key Takeaways:
- Once you’ve defined your value proposition and established your foundation, you can build your strategy. Start by setting measurable goals you can strive to achieve. Then, go out and make it happen. “
- Always be thinking about the long term and how what you’re doing right now will help you reach your goals. Your strategy is more than just the act of envisioning success.
- When you’re just starting out, you have to know how to get big results with little effort
“Before you can even think about growing your business, you need a strong foundation. That means investing in the right product, the right team and the right strategy.”
Read more: https://www.entrepreneur.com/article/296643
