Creating Magic in Business

It’s not a pipedream… there’s a smarter way to start and run your company

Trevor Blake
5 min readMay 26, 2021
Photo courtesy of @nd3000/EnvatoElements.com

From what I can tell, there’s never been a better time to start a company and achieve results that blow these statistics out of the water.

According to the IRS, there are more than 27 million registered sole proprietorship businesses (defined as a business owned by a single person who files a Schedule C or C-EZ with their tax return) in the U.S.

These essential businesses filed a $350 billion profit in 2018.

Sounds impressive, right?

That is until you realize that, as a whole, sole proprietorships aren’t very successful with an average return of $13,000 profit per person.

Hardly the American dream, is it?

Perhaps expecting or anticipating this, the U.S. Business Bureau regularly classifies a sole proprietorship making less than $1 million in profit a year as ‘nonemployer businesses.’

Apparently, the Bureau considers it impossible for a company to make more than $1 million without hiring employees.

The same census shows that 96% of all nonemployer companies make less than $50,000 in receipts, and less than 0.1% make more than $500,000.

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Trevor Blake

Perpetual student of life. Author of NY Times Bestseller, Three Simple Steps. Author of new book, Secrets to a Successful Startup — https://www.trevorgblake.com