Only 9% of US small businesses make more than $1M in revenue.
That was my 2023 goal. We’re about halfway there, and… YAWN.
Until recently I didn’t realize why my goal was kind of unmotivating… it’s too small.
3 weeks ago I started reading a book co-authored by one of the most highly regarded entrepreneur coaches in the country – Dan Sullivan.
The book is 10X Is Easier Than 2X.
The reason why 2Xing my business is less than motivating is because it’s not that far away.
Getting to $1M in revenue just requires MORE of what I’m already doing.
To get there, I’d need to leverage more technology and employees and optimize their production.
But for the most part we wouldn’t look drastically different – just a couple more employees.
Going to $5M in revenue is an entirely different story.
It requires a completely different skill set than my current one.
I would have to fundamentally change my relationship to the business.
And most importantly, I would NOT be doing most of the things I currently do day-to-day.
10Xing is an exercise in what’s “not David”.
Once asked how he created THE David, Michelangelo famously replied “I just removed anything that was not David.”
2X = adding
10X = subtracting
Getting to $5M actually requires LESS not MORE.
So what are your goals for 2024 and what would it/you look like if you 10X’d them?
(Seriously. Try that exercise. It’s incredibly clarifying.)
