A growing number of entrepreneurs are hitting $1 million to $2.49 million in annual revenue before they hire their first employee. In 2017 there were 36,984 firms at this revenue level, a 38% increase from 26,744 in 2011, according to the most recent data from the U.S. Census Bureau.
A growing number of entrepreneurs are hitting $1 million to $2.49 million in annual revenue before they hire their first employee.
Srivastava has become one of a growing number of entrepreneurs who are hitting $1 million to $2.49 million in annual revenue before they hire their first employee. And many like him are hitting the million-dollar mark within three to five years. In 2017, the most recent year for which statistics are available, there were 36,984 firms at this revenue level, a 38% increase from 26,744 in 2011, according to the U.S. Census Bureau.
Srivastava does this when it comes to spreading the word about his business. To attract customers to his website, the entrepreneur wanted to try doing content marketing but realized it would be costly for a business his size to hire bloggers to write custom articles. He decided to program his open source web-based trade analysis software to automatically create unique charts each day that reflect selected trades and what's going on in the markets.
She has not had to look far to find these team members, given her past corporate career in events. "A lot of my former colleagues work in the industry," she says. Having worked side by side with them in the past, she knows their work ethic and capabilities.To extend what they can get done in a day, solo entrepreneurs also turn to outsourcing for everything from content marketing and bookkeeping to payroll.
Ana Gavia, 26, a former medical student from Melbourne, Australia, started Pinkcolada, a bathing suit company, with just $200 in 2017. A self-taught designer, Gavia sketched a bikini, did internet research to find a factory in China that was willing to make a prototype, and posted a photo of the swimsuit on a Facebook ad, investing about $5 in the promo. She started getting preorders and soon placed an order for her first 100 bikinis.
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