The 5 Stages of Business Development
Think of the business as a tent … with the owner as the tent pole. Everything rests on the owner’s shoulders. As the business grows, that tent becomes harder and harder to hold up.
Stage 1: Entrepreneurial & Optimistic
What will it take for you to get from “maybe” to “yes”? 95-98% of all businesses start and end in Stage 1, even though the peak rewards for business owners are in Stage 2.
Stage 1 entrepreneurs work harder than they have to, make less than they could, and leave a lot on the table when they exit the business. Entrepreneurs:
Know their business could be delivering better results
Believe the business could be worth more than it is
Say their business is not consistent or focused enough
Spend time working in the business, not on the business
Feel the business sits all on their shoulders
Think the business is not as fun or rewarding as it could be
Stage 2: Structured for Growth
This is where real profit happens. Here, the business becomes a stable, well-run company with long-term goals and steady, profitable growth, supported by well-grounded structures and process.
Stage 3: Financial Capital Infusion
Stage 4: Human Capital Infusion
Stage 5: Resize and Realign
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