Today, I’m going to talk about the life cycle of a business and how to get the most out of each cycle while also extending the lifespan of your business.
We’ll talk a little about what each of these cycles means and how they can help expand your business’s lifespan.
This is generally considered the technician’s phase, where the owner acts as the technician. At this point, the relationship between the business and the owner resembles that of a parent and a newborn baby. There is an unbreakable bond necessary to determine the path your business will follow. Never let go of your baby.
The key is to understand that your business must grow in order to flourish; you cannot remain in this stage forever.
In this stage, you need to start assembling your support staff to delegate responsibilities and facilitate growth. The first line of defense should be your technical expert, as they require a certain level of technical experience. This phase primarily belongs to the manager. The planning stage needs to commence, and a relationship should be established with the entrepreneur to plan for the future.
At a certain stage in every business, it experiences explosive growth and becomes chaotic. This is often referred to as ‘growing pains.’ It’s a good problem to have, but a problem nonetheless.
The final stage is maturity, though it doesn’t signify the end of your business. Your passion for growth must persist for your business to succeed. You need to maintain an entrepreneurial perspective to drive your business forward.
You can see how all four of these cycles are interconnected and rely on a strong foundation for your business to be successful and continue its success. The three key roles I mentioned in my previous post – the technician, manager, and entrepreneur – must also collaborate to navigate these cycles effectively.
If you’re struggling to piece together your business life cycles and determine which of the key roles fits you, consider taking our FREE test drive and collaborating with one of our exceptional coaches.
Your time management is crucial to the success of your life and business. If you had more time, what would you do more of? If you had more energy, how much more could you get done in a day? We teach you how to manage your time and energy in such a way that you can gain as much as 40% of your time back into your life. What kind of difference would that make for you? If you need more time, reach out to us for a free consult.
If you could increase the productivity of your employees by as much as 40% would it change your profitability as a company? Engaged and happy employees are a crucial part of your company but most often employers don’t look at the financial impact this has on their organization. A healthy team makes a world of difference for you in your organization. If you have high turnover, internal bickering or clients who are complaining, call in a coach to assist with your employee engagement.
True leaders are hard to find in this day and age. Could your leaders be better at leading? Do you ever have communication breakdown within your organization? We work with the business leaders, management and influencers inside your company. We help inspire them to live true leadership in work and home. If you have turnover in your company, or if you have fighting and bickering amongst your employees, pull in a coach to help uncover the problem and create positive relationships inside your company.
Sales results are the fastest way to turn around cash flow in your life and in your business. Too often sales people don’t know the key behaviors that they need to track in order to create the success they are after. There are two key areas that are crucial to sales success.
True sales results create more time and freedom in your life. As you track your sales behaviors, you will see momentum and your productivity increase. As your productivity ur pipeline will fill up.
Most business owners don’t know where their marketing dollars go. They don’t track the numbers. Sometimes it’s because they don’t have time, sometimes they just don’t know which numbers are crucial for their marketing success. We build a tool that contains the marketing metrics that are crucial for you and we track the results. After we have begun to track our results, we modify our strategies and tactics to match what marketing vehicles are the most successful. Your marketing should generate business for you. Through coaching, focus groups, customer surveys and employee questionnaires, we can assess where your brand is, where it should be compared to your competitors and your plan of action to get there.
What is that one thing keeping you from going to the next level in your life? Do you know what it is? Most people don’t. They have tunnel vision. They don’t have clarity of the big picture. They don’t know what their life calling is. They know they want to leave a legacy that spans many decades of time, but they don’t know what they could do that would actually achieve this. All of these things keep us from our true destiny. In life coaching we look at the behavioral, emotional, mental and physical elements that are keeping you from going to the next level. We help you see your greatest faults, your biggest strengths and how you can leverage them to create momentum. Life coaching can create massive change in short periods of time and can sustain it through ongoing accountability.
If you’d like to learn more about our life coaching platform and how you could change the course of your life.
What is truly holding your business back from going to the next level? Is it you? Is it your sales? Your processes? Your team? Your cash flow or profit?
Business Coaching helps you look at five key aspects of your business:
Business coaches know the questions to ask to find the metrics that are important to you. They can help you find risks. They help you see problems. They know how to take a business to the next level. They can help you find how you are getting in the way of your own business. They help you see what you don’t know even when you don’t know it. They see the common patterns that we all make in our businesses. Not only are they aware of the greatest things holding you back, they know how to create action that will create lasting and sustainable results.
A good business coach should be able to pay for themselves within 6 months of you hiring them.