To be blunt, the biggest limit to your business success is probably you.
No judgement. It’s true for me too.
The facts are, you are 96% likely to be running a business that has very limited chances of achieving the success you want.
Please don’t stop reading.
What you learn here, if you keep reading, will probably change your life and your chances of success significantly.
I’m not a negative person. I’m usually highly optimistic.
But optimism has to be based in reality.
I believe that positive thinking doesn’t mean you think nothing will ever go wrong.
I believe that positive thinking means that when things go wrong, you believe enough in your capability to deal with it and turn that negative into an opportunity that will work out for the better for you.
When I wrote Run Your Business on Autopilot I was shocked to discover in my research that less than 20% of all businesses in the developed countries grow to more than 5 employees and less than 5% grow larger than 20 employees. Only a fraction of one percent grow larger than 100 employees. And these stats are for the ones that survive!
My further research identified that almost every business owner (around 95%) creates a business that is almost totally dependent on its owner or owners. And because of that, there is an inbuilt limit to how successful the business will be.
That’s because any business that is dependent on it’s owner can only achieve what the owner is capable of achieving. There is no leverage in the business to break through the normal growth barriers that stop otherwise successful businesses from achieving their full potential.
Michael Gerber, in the E Myth, told us that we needed to work on the business as well as in the business. But from my experience, most owners limit their success because they don’t have a plan that tells them what it is that they need to work on. Consequently, they remain focused on what they need to do in the business day-to-day to get the work done, get the money in, pay the bills and manage the people.
I call this approach “managing to survive.” Because that’s all that businesses that are run this way usually achieve.
If you want to break through the growth barriers and achieve the success of the top 4 or 5%, you need to take a different approach. You need to “lead to succeed.” You need to develop a different mindset and adopt the methods of the top 5% to really break through and create a business that works for you, instead of being stuck in a business that keeps you working harder than your employees for less profit and freedom than you want. The top 5% operate with a different business model to the norm, which makes all the difference. I’ve written about that model in Run Your Business on Autopilot.
If you’d like to know how these top 5% achieve their success, I’d love you to have a copy of my book, for free.