ENTREPRENEURIAL TOOLBOX
How To Be Surrounded By Competitors And THRIVE
BY ROBIN ROBINS
This just in : McDonald ’ s , the leading restaurant organization in the world , is opening 10,000 more stores in the next four years , increasing their count to 50,000 worldwide . They ’ re anticipating the fastest period of growth in the company ’ s history . With SO many competitors , and so many fast-food options , how is there even enough market share for them to accomplish this ?
What makes this even more astonishing is that there are very few industries as difficult to succeed in as the restaurant business ; 60 % of all new restaurants fail within their first year of operation . With slim margins , high employee turnover , and intense competition , it ’ s one of the hardest businesses to operate , much less scale . Yet McDonald ’ s has continued to dominate and figure out how to expand in an incredibly crowded marketplace with an already impressive market share .
Black Rifle Coffee , a competitor to Starbucks , is another company that is rising above the others . They had a net revenue increase of 31 % in Q4 of 2023 , with anticipated revenue of between $ 430 million and $ 460 million this year . How can this be ? Is it because everyone is walking around saying to themselves , “ I wish I could find a place to buy coffee around here !”? Nope . We live in America , where you can get coffee anywhere , from fine-dining shops to any choke-and-puke pitstop on the Interstate .
At the 17th Annual IT Sales and Marketing Boot Camp , my big event in Nashville , I talked about how only 4 % of the 33 + million businesses in the U . S . ever break the million-dollar mark , and a mere 0.4 % of all businesses get to $ 10 million in sales . In the MSP space , the numbers look better but are still fairly abysmal : 79 % of all MSPs never break the million-dollar
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