My colleague and serial entrepreneur, Scot Wingo, of ChannelAdvisor, Spiffy and Triangle Tweener Fund fame, recently posted on LinkedIn, how hard it was to scale a business. He referenced data from a book by Verne Harnish, the founder of Entrepreneur’s Organization, called Scaling Up: How a Few Companies Make It . . . and Why the Rest Don’t. The core of the story was this graphic:
What the graphic basically says is, of the 28,000,000 businesses in the United States, only 0.061% actually get larger than $50MM in revenues. And 96% of all businesses, never get larger than $1MM in revenues. I was so taken back by the data here, that I thought it was worthy of a deeper discussion.
Read the rest of this post on Entrepreneur, which I guest authored this week.
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