Mike Andes argues most small businesses should target $500K annual revenue to hit profit mode. Raise prices when you're at capacity, keep your team small (4-8 people), and you'll be very profitable around $800-900K. Want to grow bigger? Replicate the model.
That is the million dollar lie. And in the book we talk about going past $500,000 and entering profit mode. Because if you get to $500,000 in annual revenue and over the course of a few years, keep raising your prices every time you hit capacity, assuming that you have a great brand, you have good trucks, you have a website to drive leads to your business and replace Churn, you'll be able to build a business that over the course of a few years gets to 800, $900,000 in annual revenue. You have four, five, six, seven, eight employees max. And it's very, very profitable. I believe the vast majority of people should do that one thing. And if you're that crazy and ambitious and entreprene, want to keep going, copy and paste that model.
