Which Path Is Your Business On?
Understanding which path your business is on is a major key to making it successful.
Path One - The Bridge Is Out
The SBA reports that 50% of the small businesses fail in the first 5 years and 75% in the first 10 years. Unfortunately for those business owners this path is called being on the "Bridge Is Out" for a reason. This path typically leads to the loss of personal savings and assets, destroyed credit scores, and damaged personal relationships. This is a path that is traveled all too often. You need to avoid this path.
Path Two - Path To Nowhere
For those small businesses that survive, most just survived but did not thrive. The path to nowhere is one where the business owners work 60+ hours a week and take home less than $80,000 a year. Effectively they have created a long hour low paying job. It is said that they are not "Business Owners", but rather "the business owns them". The IBBA reports that 80% of these business will never sell and never create any equity for their owners. The owners end up just walking away with nothing to show for all their long hours of hard work. This is another path to be avoided.
Path Three - The Success Path
The success path is easy to define and with help is not so hard to reach. It is simply a business that has been optimized for all 12 Key Success Elements and that is generating at least $100,000 in Owner's Discretionary Earnings. These businesses earn a good living for their owners and are very attractive to new buyers. They also command a much higher price when their owners elect to sell and create substantial equity for their owners. If you take the time to get your business on the Success Path and keep it there, its value will continue to grow, it will earn you more money and create equity for your future.
Our success system optimizes all aspects of your financial and digital marketing positions which in turn maximizes your access to capital and your exposure to new customers, placing your business firmly on the success path.
Which path is your business on now? Run your free success scan now to find out.