Many have the misconception that being successful in business means that you are a millionaire who lays around on the beach all day, doing nothing and collecting checks. The reality is that less than 1% of all business owners have this luxury.The average business owner reports to work every weekday to keep their business afloat, and small business owners in the United States average only about $70,000 in annual revenue. Does this mean that they are not successful? Not at all.
Being successful in business is not based on how much money you make and how less you have to work. It's based on whether or not your business is even a business. In other words, if you're actually making money - you're successful.
Most people who start businesses never actually get to the point where they are generating a cash flow - let alone a profit. Their companies flop before they are even launched.
If you have a business that only makes $30,000 a year, don't feel bad. You're successful by far. At least you are able to create some type of revenue - whether it supplements your income a little or a lot.
Even a company that only generates just $1,000 a year in annual revenue is technically a successful company. There are millions of businesses that have come and gone that have never generated a penny.
Don't ever be mislead into believing that your business is not successful because you have to work hard, and don't own a yacht.
Very True Sir Thank You For Your Insight On the Issue I Needed That.
ReplyDeleteAfter hearing time again that I do not qualify for funding, mentoring, etc. because I don't have employees or have not met an income threshold (usually six figures), this is comforting insight Dante!
ReplyDeleteI wholeheartedly believe that success is defined by personal goals. However, from government agencies to local business "supporters", your bottom line often determines how they define your success. Sure, it's nice to be able to employ people and pay for benefits to help the economy thrive, but if that's the only if not main criteria for success, it becomes a burden to live up to someone else's standards especially if you want them to help....
So either play by their rules or make your way prosperous and prove to the naysayers that you have great potential; that faith confidence, and a viable plan is greater than your bottom line.
Dante I enjoy reading your blog. I also subscribe to BlackNews.com. The advice or info you give is usually more current than (BN). So....do you have a yacht? :}
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