four generic growth strategies

High-performing small business

level off after success defined by sales of $100,000 and $1,000,000. grow at rates of 5-15%/year. add employees and open other locations. 20% fall into this category.

high-growth ventures

aim for growth rates of 25%/year or more. sales of > $1,000,000. aim to become big businesses and pursue high levels of professionalization and external funding. 5% fall into this category. at the tip, called unicorns.

Lifestyle or part-time firms

sales of $25,000/year or less. enough to supplement an income, but not live off of. start and stay small. operate seasonally or whenever owner wants to work. growth quickly levels off. about 53% of all small businesses fall into this category.

Traditional small businesses

smaller full time with schedule defined by the customer. sales of $25,000 and $100,000. growth levels off after operations settle into a consistent money making pattern. enough income for owner and family. 22% fall into this category.