At the beginning of 2024 there were 31 million entrepreneurs in
the United States alone, with a
failure rate for startups at a staggering 90%*. So how do
entrepreneurs succeed, personally and professionally, in this new
age of technological advancements, the inclusion of AI in business
and the overall demands on modern day business owners? Author and
Founder of Next Level Growth Michael Erath shares tips on just that
in his book RISE: The Reincarnation of the Entrepreneur.
PHOENIX, July 11,
2024 /PRNewswire-PRWeb/ -- At the beginning of 2024
there were 31 million entrepreneurs in the United States alone, with a failure rate
for startups at a staggering 90%*. Additionally, the divorce rate
for entrepreneurs is higher than the general population at a rate
of approximately 50%**. So how do entrepreneurs succeed, personally
and professionally, in this new age of technological advancements,
the inclusion of AI in business and the overall demands on modern
day business owners? Author and Founder of Next Level Growth
Michael Erath touched on just that
in his book RISE: The Reincarnation of the Entrepreneur.
"Entrepreneurs need four key things on
their journey: a strong and aligned team, a principled framework
for operating and scaling their business, a peer group, and an
experienced Guide to mentor and coach them," said Author and
Founder of Next Level Growth Michael Erath.
"There are many more pitfalls to success today than there were
even 10 years ago," said Michael
Erath, author and founder of Next Level Growth, a Fortune
5000 company comprised of experienced entrepreneurs turned Business
Guides, who are helping other entrepreneurial leaders build elite
organizations. "RISE shares the many lessons I learned in growing,
losing and rebuilding two eight-figure businesses and the tips I
now give my clients to ensure success."
After 9 years of helping a variety of companies – including the
likes of Upward Projects (Postino WineCafe), AlphaGraphics, and
Goodwill Industries – to their next level of success, Erath has
comprised some key tips for the next generation of
entrepreneurs:
I read every entrepreneurial book you could think of and thought
I could do it all myself. I was wrong. Entrepreneurs need four key
things on their journey: A strong and aligned team, a principled
framework for operating and scaling their business, a peer group,
and an experienced Guide to mentor and coach them.
Our family business, Erath Veneer, was entirely domestic and in
the late 90's the majority of our customers began moving their
factories to Asia. We had no
choice but to shift our focus to exports, eventually managing
offices on 6 continents.
Entrepreneurs can have a soft heart when it comes to their team
and, in my case, it led me to ignore not just one but multiple red
flags with people. Key Team Members I hired who I knew could help
me grow our business weren't ultimately morally or culturally a
good fit for the company and ultimately, we suffered greatly
because of it.
Imagine driving somewhere you've never been and not having a map
(or GPS). This is what entrepreneurs do every day with their
business; they have an end goal, but often no road map to get
there, or to share with the people that will help them get there.
Without it, successfully reaching the destination is much more
difficult, if not impossible.
When I opened my second business, focusing first on my core
values – when I hired, fired or rewarded employees – was the first
key to the success of my business. Hiring the right people, who
aligned with my core values, created an aligned team, who could be
empowered in their roles, allowing me to take on more high-level
leadership initiatives focused on growing the business.
To learn more tips from Erath on his own path to success, as
detailed in RISE: The Reincarnation of an Entrepreneur, purchase it
on Amazon and wherever books are sold.
For more information about Next Level Growth, visit
www.nextlevelgrowth.com or call 480.261.0598.
*Source: Demandsage.com
**Source: Meehan Law LLC
ABOUT NEXT LEVEL GROWTH:
Founded by Michael Erath in 2015,
Next Level Growth is comprised of a team of successful
entrepreneurs who guide other entrepreneurial leaders in building
elite organizations via in-depth discussions and a series of
systems that focus on great people, an inspiring purpose, optimized
playbooks, a culture of performance, and growing profits and cash
flow. For more information on Next Level Growth, visit
www.nextlevelgrowth.com.
Media Contact
Kendra Riley, Next Level Growth,
1 4802206051, kendra@dawningpr.com ,
www.nextlevelgrowth.com
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SOURCE Next Level Growth