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The Differences Between Companies That Make Under $1 Million and Over

April 22, 2017

 Many things come with the growth of your business, like hiring  HR staff, and are unnecessary when your business is small. But there are so many things that million dollar companies do, not because they are successful, but because they learned along the way the power of doing them. These things can actually be implemented at any time and the earlier you start doing them, the faster you will grow to over $1 million dollars, and join the 4%!

 

Under $1 Million 

  • Primaraly Uses Word of Mouth Advertising

  • Weak or No Core Value

  • Weak or No Company Culture

  • Owners Work In the Business and Not On It

  • Owners Have No Time

  • Little or No Growth

  • Little Participation or Give Back to the Community

  • Low Net Profits (Under 10%) Your Company is on Life Support

  • Employing Family and Friends

  • Small Number of Employees and That's OK

  • No HR (May Not Be Necessary When Small)

  • No Benefits

  • Owners Don't Take Vacations or They Are Short and Unpaid

  • Ineffective Meetings or No Meetings

  • Weak Goals with Little to No Follow Up or Accountability

  • Prices Are Set Too Low

    • Things Are Very Busy and Booked, but No Money is Being Made

  • A Lot of Time Wasted on Customer Support

    • Clients taking advantage of your time and low price tag

 

Over $1 Million

 

 

Let us know what you think should be added to this list!

 

More From The 4%!

 

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