So your #1 biggest problem that’s holding you back from creating ultimate wealth is Stagnant Business Growth. Your business revenue has plateaued. I see a lot of people stuck in the $50,000 to $100,000 and the $120,000 to $200,000 revenue level.
And after working with entrepreneurs over the last 20 years I’ve noticed an interesting pattern, which goes like this:
The employee quits her job to become self-employed. Once she replaces the income she had at her job her business growth stagnates. If she made $78,000 a year, she’ll work hard until her business is generating about $6,500/month. Then she can’t seem to get over the hump.
If that’s you, if you feel like you’ve hit an invisible wall where you can’t seem to make over $200,000 a year then you’re suffering from a classic case of Stagnant Business Growth. Perhaps you’re like the employee who just wanted to replace her prior income with a business. There’s nothing wrong with doing that as long as you don’t stop there!
Remember, growth is a choice. But so is staying stuck where you are. You can throw a pity party and complain about all the reasons why business is so hard or you can choose to move forward and grow your business.
However, deciding to grow your business is only the first step. As soon as you do that you’ll run into problems, which are really the very things you must overcome to go to the next level.
3 MAIN REASONS WHY BUSINESSES STAGNATE
1. Team: One of the first obstacles you’ll likely experience has to do with not having a team. If you’re making less than $200,000 a year then you’re probably doing most the work yourself. You’re doing the marketing, sales, fulfillment, accounting, customer service, etc. And that’s exhausting! You run around putting out fires, dealing with all the urgent tasks while neglecting the important revenue generating projects you know you should do but just don’t have time for.
2. Technology: You’ll also need to invest in the right technology that will help you automate tasks for you and your newly formed team. For example, you may hire a salesperson but without a good CRM in place your leads and sales opportunities will inevitably fall through the cracks.
3. Fulfillment: If you really want to solve your Stagnant Business Growth problem you must outsource your fulfillment, or organize a fulfillment team, so you can be free from fulfilling the orders or implementing the services you sell. Remember, every hour you spend on fulfillment or implementation is an hour you could have spent growing the business.
There’s many reasons people get stuck under $200,000 in revenue; but 90% of the time it has to do with one of those three areas. But the good news is that once you figure out your team, technology and fulfillment you free yourself from Stagnant Business Growth and you can go to $1,000,000 like that! It’s like taking the parking brake off your growth and hitting the gas pedal.
Remember, it’s your choice to grow or stay stuck. Anyone can grow their business.
The question is: are you willing to get help to do it or will you do the same thing forever and expect different results?
Your next step is to join my mastermind!
I've worked with thousands of clients over the past twenty years and I have seen this EXACT situation first hand over and over ... the good news is that it's not unique.
It's almost always the result of not having any wealth building strategy or having one that is LAZY.
In fact, as anyone who has read any of my 5 New York Times Best Selling books will tell you, becoming financially free and building your wealth is the result of a plan AND NOT AN ACCIDENT.
You have to have a high powered wealth strategy if you want high end wealth.
Anything seen or heard here should not be viewed as an offer to buy or sell a security. Educational resources are provided for general information purposes only and should not be considered an individualized recommendation or advice.
This is not an offering or the solicitation of an offer to purchase an interest in any investment vehicle. Any such offer or solicitation will only be made to qualified investors by means of an offering memorandum and only in those jurisdictions where permitted by law. The target returns set forth within all offerings may not be realized; actual results may differ materially from the stated goals. Prior to investing, investors must receive a prospectus, which contains important information regarding the investment objectives, risks, fees, and expenses of any funds and/or other investment opportunities. Past performance is no guarantee of future results. All investments involve risk, including the loss of principal investment.