Million-Dollar Startup Secrets | AllBusiness.com


Most small businesses never reach $1 million in annual sales. Instead, they struggle just to survive. Of businesses started in 2004, barely more than half — 56 percent — were still around in 2009, a study from the Ewing Marion Kauffman Foundation found.

In fact, cracking the $1 million barrier at any point in a company’s lifetime is a major achievement. U.S. Census data from 2007 shows that more than three-quarters of the country’s 6 million firms with employees made less than $1 million in revenue. And most solopreneur businesses don’t earn anywhere near that much: According to IRS data for 2008, the average solo business brought in less than $60,000.

Given these sobering numbers, reaching seven figures in a business’s very first year — and with a startup’s often-scarce resources — is nothing short of extraordinary.

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