A squad is defined as the smallest military unit. A squad is a small group of like minded people united in a single purpose. A Wealth Squad is a team that is focused on increasing the wealth of everyone in the squad. Elite squads are very particular about who their members are. They have stringent tests and extremely high requirements to even be allowed on the squad. Do you have those same measures for your squad? Or are you doing as many small business owners do … simply accepting whoever shows up.
Successfully starting a small business is a tough endeavor. A recent small business survey showed that over 50% of business’s stop operating in under 5 years. Conversely that also means that you have a 50/50 shot at starting a small business and being successful. Now the flip side to that is the profitability side. Over a business lifetime, it was reported that 39% were profitable. 30% broke even and 30% lost money. Now the poor 1% of business who couldn’t tell what happened to them didn’t read my ideas on Seven Key People.
If you are thinking of starting a small business or currently own one that falls into either category that is not producing the results you want. Take a look at it and let me know what you think. Do you have another person that needs to be on that list? Do you have everyone from that list on your squad? I will say that it is a fairly long post. You may want to spend some time thinking about how it. Understanding how your current business compares and understanding where you need to improve can have dramatic impacts to your business in tough economic times.
Give me your thoughts and let me know what you think.
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