There are more than 22 million small businesses in the U.S.
Undoubtedly, most of them want to see their businesses succeed.
But how do you motivate yourself to keep at it?
In the beginning, it can be tough to run a small business. Rewards might seem small and minimal. It might seem like a slug to get to the next level, and borderline impossible.
If you want to be successful, you might want to take some of your cues from small business success stories.
These stories will help lift your spirits and motivate you to continue your small business journey!
Small Business Success Stories: Puzzle Break
You may have seen photos of your friends after successfully completing an escape room. Or, you may have tried your luck at one yourself.
Did you know they were invented by a small business entrepreneur?
Nate Martin founded the business shortly after completing his undergraduate degree. It took him nine years to do so, and his GPA ended up being under 3.0. He applied to several MBA programs, and all but one rejected him.
But he still launched his business, and it worked well for him, despite his not-so-stellar record in academia.
He now has a seven-figure revenue stream, with each year’s profits coming up at 100% of the previous year’s profits.
And, he had no debt or start-up funding.
Talk about some seriously inspiring stuff!
Liane Weintraub and Shannan Swanson’s Tasty Brand was born out of necessity. The two new moms saw an opening in the market and grabbed it, harnessing the power of something new moms didn’t know they needed.
Both women started out wanting to make organic purees for their babies. They were floored to find out that most stores didn’t carry them and were sure other moms would want the option to feed their baby something fresh.
The pair worked together to create a brand that has an estimated $2.4 million in revenue this year. They turned over a profit four years after their inception.
Their brand is available at Whole Foods all over the country, proving that moms really do know what they want for their children.
Limor Fried created her Adafruit Industries start-up as a way to pay for her masters of engineering degree at MIT.
She started with just $10,000. This sum of money went toward her tuition. Each time she has turned a profit, she has made a payment to MIT, paying down her student debt.
The female entrepreneur makes her living selling DIY electronics kits. This allows individuals to stick their toes into the world of engineering without going too far.
She also mails any design files and software the individual might need to complete their DIY kit.
Now, she sends out 150 to 200 DIY kits per day to individuals interested in their own DIY projects.
Ever wanted to learn about a new subject or gain a new skill? Chances are you’ve been to Mindvalley.
This website, created by Vishen Lakhiani, is a multi-million dollar business that helps individuals with personal growth.
Mindvalley allows teachers and students in transformational education to come together and dispense their knowledge. Students can sign up for digital courses and seminars as they see fit.
Lakhiani even provides his own classes and seminars. His courses are a testament to what he has gone through to make his business succeed. This is incredibly innovative and great for any small business owner looking for some inspiration on his or her journey.
CorpNet is not only a successful small business start-up but one you might want to use if you’re starting up a small business.
Nellie Akalp and her husband started a small business from their living room in 1997. In 2007, it sold for $20 million. This allowed them to create their current business, CorpNet.
CorpNet gives small businesses all of the paperwork they need to start their business. It allows individuals who don’t quite know what they’re doing to get all of the advice they need for a minimal fee.
With CorpNet, you can ensure you’re not missing a single piece of paper for your new business venture.
Oak Street Bootmakers
Cobbling shoes might seem like a thing of the past, but this old-school skill has paved the way for success for George Vlagos.
According to Vlagos, his father invited him into his shoe shop every Saturday to help him shine shoes. His reasoning was that he would teach his son that manual labor is difficult. He was also trying to ward his son off from entering into the family business of making shoes.
Unfortunately for Vlagos’ father, it didn’t go to plan.
Vlagos fell in love with the process of designing and making shoes. He found his niche by creating quality shoes for individuals who require them for certain jobs.
Now, Vlagos has a six-week waiting list to get a pair of his shoes.
Joanna Meiseles created Snip-Its after her son had his very first haircut 20 years ago. The new mom soon discovered that salons don’t cater to children, which can be a disadvantage when trying to get your children to have their hair cut. As a result, she created Snip-Its, the first salon dedicated to cutting children’s hair.
Snip-Its now has 63 locations in the United States with plans to expand to the United Kingdom in the next couple of years.
Starting Your Own Business
Starting your own business can be scary. It is full of risks and inevitable ups and downs. Even individuals from the small business success stories have likely not always had it easy when creating their businesses. But, with a little bit of ingenuity and a lot of belief in yourself, you can create your own successful business.
In no time, you’ll be free from your current job’s grind.
For more information about starting your own business, have a look at some of the topics on our blog.