Service business owners often get stuck at $4-5 million because they won't adopt technology for payroll and budgeting, and they treat the business like a baby instead of delegating to a team. Breaking through means investing in tools and trusting people to run parts of the operation.
Chapters
I would love to know your hot take when it comes to this mid-level ceiling. A lot of companies find themselves within this $4 to $5 million range, and it seems like there's just grinding there and really almost stalling.
You need to embrace technology and data. As a business owner especially, you should not be spending your time sitting around a table with a calculator to figure out how you are going to make your month's budget or in some cases make that week's payroll. I truly believe the crux of it, of what holds people back from even reaching that point is some business owners just don't wanna let go of their baby. And so it's really hard for them to take a step back and begin delegating and growing out that team that they can trust. Build a solid team, invest in talent, and invest in that technology to help you get there.