3 Reasons Most Businesses Don’t Reach 6 Figures

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Alex Charfen is an entrepreneur, creator and speaker who has used his experiences to educate small enterprise homeowners on gaining momentum and rising their companies. Charfen has skilled each super failures — like going bankrupt in the course of the 2008 recession — and unbelievable successes — like launching a enterprise and rising it to a income of greater than $10 million per yr.

In this interview at Click Funnels’ Funnel Hacking Live convention, Entrepreneur Network accomplice Emily Richett talks to Charfen in regards to the significance of caring for your self, understanding your market, and constructing a staff.

Charfen recommends these three issues to construct momentum: 

Reduce the stress and noise in your life

Charfen teaches fast-growth entrepreneurs about the way to care for themselves first with hydration, diet, respiratory and what he calls “daily momentum planning.”

“If you have the earning potential of a multimillion dollar athlete, you should treat yourself as one,” Charfen says.

Charfen additionally says, “If there is pressure and noise anywhere in your life, it’s creating pressure and noise everywhere in your life.”

Be polarizing and entice true believers

Charfen highlights the truth that “of the 29 million businesses [in the United States], 22 million are under $100,000 in revenue.”

He attributes this to entrepreneurs’ tendencies to “try and make their product available to everybody.”

He says, “if you walk into a room of 100 people, you should be able to identify the two or three that are your market. If you walk into a room of 100 people and you think to yourself, ‘80 people could buy my product,’ you’re doing it wrong.”

Scale with the ability of a staff

Charfen validates what all of us entrepreneurs already know: It’s onerous to ask for assist, particularly after we are used to carrying each hat in our companies.

“Successfully starting a business conditions us to do everything,” he says, earlier than occurring to emphasise the significance of strategically trusting others to take a number of the stress and workload off your shoulders.

Many small enterprise homeowners resist the concept that they want a staff, arguing that managing different individuals would improve their accountability and add pressure.

Charfen counters by saying, “When you don’t have a team, you are as exposed as you possibly could be … When there’s no team, if something happens to you, everything stops.”

He encourages entrepreneurs that even when they don’t assume they’re prepared for a staff, they probably are prepared. “Do it before you think you should,” he advises. “Get that first person on board to help you.”

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