Entrepreneur

Same here. Had a huge up cycle for a couple years, then things slowed down. I’m married, two kids, we’re comfortable but not blowing up like I thought I would by this point. When you look around the data shows most people are like this. Just try to stay focused and you’ll have ups and downs, hopefully the ups continue getting bigger and the lows don’t get as low after a while.

I'm like, hanging in there.

Started the business in 2020, was given an existing client base. Many, many people left us, we've not gained more clients that have left, but we're hanging in there. We have just under 200 monthly clients and our turnover is about 2m a year. But we still don't make a lot of profit because people are wanting to pay less and less and less for more.

I have an AI automation tool that may interest you.

Sent you a DM.

My first business, I was doing $1.2m/yr but only taking home about $40-60k/yr. This was like 2017 and I’ve just about 20x’d the numbers (besides the income part).

Call me a weirdo, but I think good employees are worth their weight in gold. Simply put, why would I take $1m and pay a key employee $100k when while expecting them to do all the work while I’m off in Tahiti somewhere. So I pay myself based on what I do and assign “partners” to individual departments who I’ll then work with to manage key employees, who then manage the boots on the ground folks. It’s not the “take the most home” business model, but it’s done very well for me and my business - including reputation.

I also only hire through word of mouth referrals. It will likely remain this way until I sell or decide to maybe franchise (probably won’t happen but w/e idk wtf I’m doing).

I’m trying to make my dad successful

Started a small bookkeeping business in 2021. Specifically, We work with local construction companies It’s just 2 of us and we turn about 240k a year.

Profit however….. maybe I keep 10-12k at the end of everything ? Currently paying myself a 55k salary so I guess I can see the end as a “bonus” at the end of the year.

Working on getting my EA so we can start completing tax returns. I’m hoping that’ll push us to the next level

Seems to be a question of margins. My consulting business brings in about $250k-$300k a year and growing, but I have no employees and very little overhead. I’m very comfortable with this outcome. Living in a LCOL area, I’m doing just fine.

Wild. We might be the same person. I too own an agency. Our revenues are about the same. I take home about the same.

It’s a frustrating place to be.

You have a lot of freedom. Control of schedule and the ability to lead is great. But it’s also consuming.

That said, personally, I have been thinking about this a lot and working to figure out, how do I get from $600k~ revenue per year to that next figure? Maybe $1.5 M per year.

I mean the burnout is real. Don’t get me wrong. But I personally feel like I have to keep a plan in place to make that next landmark or else I really would be saying; “hey, I could probably make more money working for someone else in corporate”

I'm covering bills with my main business, enjoying a bit of lifestyle with the side hustle. In the process of scaling main biz to get to upper/upper middle class in next year or so. I'm content, but work many hours of enjoyable work. Not exactly fuck you money, but I don't get into really anything I don't want to. No one telling me what to do is really nice.

I work for a small family business. We have an office and factory in the UK and an office in Hong Kong. We used to have a factory in China. No longer. Our products are of yesteryear and we have had some very unfortunate issues over the last 4 years, so are just now getting back in to profit. We have a very small market share due to some of those issues, so room to grow. I would say I live an ok middle class life. Have been forced to cut back on holidays and expenditure in order to save for a house that we have just bought. I would like to think that in a few years we will be back up to the £2m+ that we had about 10 years ago before I was in the company.

I sold my part of the software consulting company I founded with my friends for 2m€ this year. After taxes it will generate just enough passive income to retire if I want to which was my original goal as an entrepreneur.

Really happy about it. I am still working at the company full time and don't really know what I want to do next but time will probably tell.

I’m really only just getting started in my current business. I have a private practice where I provide a variety of services. I also work as a contractor for a few other companies. My income is basically what I would make if I worked one full time job but there is a lot of potential to grow whereas in a full time job that would be the ceiling.

Very much relate. I have a small recruiting firm, started July 2020. I’m paying myself a livable wage, taking care of my family. We have a few actively hiring clients every month, and our revenue this year should be about the same as last year. But I thought we’d be doing at least $100-200k/year more than we are. We’re light years away from any kind of exit or passive income or even scaling up at all. It’s basically the best job I’ve ever had, but it’s still a full time job, and very much working IN the business 80% of my time, rather than ON the business.

It's interesting to continue to hear stories from fellow agency owners who try to build and scale.

The one thing I hear consistently is most of them didn't like building agencies with dozens of employees because they got burnt out from managing people and continually being on the hamster wheel.

I make nowhere what you make in revenue but my take-home is higher than yours. Not saying that to brag but just to draw attention that big isn't always best. When Covid hit, I lost half of my clients and had to crawl my way back. Three years later, I believe I'll have my best year yet and excited for the new year and want I want to accomplish.

I also consider myself "kinda successful". Thanks for sharing.

"Kinda successful" to me seems like a loaded term because it's relative right?

I'm sure my sister thinks I'm "rich" but I'm not cracking $400k let alone a million.

Money isn't everything to me. Sure, I pay way too much in taxes. Sure, you can take everything away and of course I'll not be happy but it's a blip. If I did it once, I can do it again. No question.

We make a hell of a good living. If we want something we get it. No debt. I do what I love. Does work suck sometimes? Of course! But so is being jobless or living pay check to pay check.

I've been asked many different times why don't I open up my own shop. The answer is simple. I don't like prospecting. I'm great at what I do, have an AE bring me the customers and I'll close them!

My reputation in my niche seems global and legendary. I'm only well positioned and well connected, I have never made a "deal" yet.

I earn roughly $10k/m from my business distribution. I recently retired to be a full time stay at home dad. I'm part of a pizza franchise group. I Fucking hate being "retired" at 29.

I started this business as a side hustle. I still have a full time job but make a good $50k on the side. I’m Trying to scale it up but am happy being a small timer.

I’m doing ok. Own two businesses. One permanent makeup studio that I run myself and started 6 and a half years ago that will bring in about $400k this year with probably $300k profit and a food truck that isn’t making a profit yet that my husband runs. We are starting up an eclectic home decor social media page for affiliate marketing this year as well that I predict will be a hit. Trying to get a little bit more passive income this year. But, just like you, burn out is so real. I have about 100k in savings and investments, but at this point I wouldn’t call my endeavors a huge financial success, just enough to possibly be able to retire someday and live a comfortable life.

I've been in business a year and a half and I am profitable. On paper very profitable, as far as trying to support a family, not as profitable as I need.

I'm in the process of bringing team members on. I have my first one started and I'm looking at another one right now. I'm successful enough for the time being but I think there's a lot of upside coming. That being said, I'm always toying with getting a part-time job or something

I’m 36 and have a few businesses now, the most lucrative being a property management company. We hit over 500k this past year in total profits through the businesses but I won’t consider myself “successful” until I have the kids retired and I probably won’t stop even then. Lol good luck my friend.

Running a side social media management business on my own. Pretty much no overhead costs except my website and canva... I'll do monthly add ons for special projects like SEO and website designs... but yearly my overhead is like... $300? I'm making about $1200/month consistently and have had a few months of $2700+/month. I'm also working full time while doing this - so overall I'm happy with this on such a small scale but hoping to scale up slowly.

Have an alright business. I’m earning about 60% what I did working for someone else, but putting back into the business. Just me. Hired someone. That didn’t work.

I’m now contemplating rejoining the work force for someone else; if I do that and cash out, it’ll be basically be bringing me back up to the same salary I would have earned the last couple years.

Barriers are getting bigger, competition fiercer and confidence lower… so it’s been fun running my own shop, but time to step back for a bit I think.

You hear a lot of bad things about "lifestyle business" but that's mostly from VC's who are only focused on scaling.

Nothing wrong with a lifestyle business imo

I resonate with your journey of being "kinda successful." My experience is a bit different, but I've seen a similar pattern in my line of work. I've been involved in acquiring small businesses for larger corporations for about 8 years, handling over 30 deals in the last 5 years.

Your story highlights a common scenario where business owners reach a certain level of success but also face challenges, like battling burnout or feeling like they're just maintaining a regular job. It’s a tough balance between growing a business and managing personal well-being.

In my experience, many business owners get stuck in this middle ground. They manage to keep the business afloat but struggle to take it to the next level, or prep it for an optimal sale. This often happens because life, with all its demands and surprises, tends to take priority. I've seen many talented entrepreneurs dealing with similar feelings of stagnation or unfulfilled potential...thinking of making a business to help them but don't want to just be another consultant...

I’m betting you pay yourself $40-60k a year to keep your taxes low and expense everything through the business for the tax write off?

Objectively I'm doing pretty good (although I'd like to be doing better). Outside of my full-time job I create programming tutorials on YouTube, sell premium courses, and offer consulting in the fields I'm knowledgeable in.

Side income is nowhere near enough to replace my main income, but it's a nice little monthly addition since I started a couple of years ago.

After the new year I'm planning on taking it more seriously, treating it more like an actual business, and trying to grow. Just have to put in some more effort than I'm used to!

Success isn't always a binary equation. 🌟

Your journey resonates with many of us. I am working as the fractional CTO, the quiet achiever, the one who've built bridges between dreams and reality. My balance sheets might not scream "millionaire," but my life tells a different story.

600k revenue? That's a symphony of hard work, resilience, and midnight coffee. Your 6-7k salary? It's the steady beat of consistency.

Burnout? Regrets? They're the shadows we dance with, the price of ambition. But look around: health, a good marriage, and not terrible—that's a melody worth celebrating.

So, fellow kinda successful entrepreneurs, let's raise our virtual glasses. 🥂 Here's to the quiet victories, the fractions that make us whole. 🚀