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To Take Your Startup From $0 to $1 Million, You Have to Get This Right

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According to the Bureau of Labor Statistics, small businesses make up 99.9 percent of the businesses in America. That’s impressive.

What isn’t impressive, though, is that only 7 percent of them reach $1 million in revenue.As disheartening as that statistic might be, there’s really only one reason why 93 percent of small businesses never reach the million-dollar mark.

In almost every instance, the reason a small business struggles is that the entrepreneur or small business owner fails to get their unit-level economics right. (This term refers to your specific business’s revenues and costs as they relate to an individual unit.) What does that mean for you as an entrepreneur and would-be empire builder?

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