What industry you are in and what kind of business model you have makes a HUGE difference in your ability to make a profit and succeed long-term. I see so many people assuming that their business can operate in the same way as someone else’s when their business is completely different.
This is one of the reasons why I teach my clients to NEVER compare.
You have no idea how someone is operating their business in the background. You don’t know if they have any profit at all, even if they are making millions. You don’t know how hard they are working or what kind of connections are keeping them afloat. I have seen solo entrepreneurs drowning in million dollar debts and yet appearing to succeed on the surface.
Also, some industries like marketing or graphic design are hot right now. Everyone “thinks” they need them which makes them in high demand. If you have a wellness business, you won’t have the same level of demand. If you are in a highly competitive market like coaching, you won’t have the same level of demand. It means you have to work really hard to get attention and you need to know what you are doing to succeed.
You have to stop riding on the models of what others are doing and start to assess what YOU need to do now to take your business to the next level.