One of the reasons entrepreneurs start their own business is the desire to be their own boss and make decisions for themselves. Entrepreneurs love to be able to use their own creativity, do things their way, think big and create massive change.
There are 5 key stages in the entrepreneurial journey and knowing your starting point is just as important as knowing where you want to end up.
Stage 1 – Dream. At this stage, entrepreneurs are dreaming of the success they desire: life without a boss, the freedom of being in business for themselves, the new car they’re going to drive, the exotic vacations, the extra time spent on the golf course or on the tennis court – in essence, the lifestyle changes and perks that their business success will bring them.
Stage 2 – Reality Check. Time to stop dreaming and get your feet back on the ground! So you’ve put up a website, printed out some business cards and you’re noticing that clients aren’t miraculously finding their way into your business. You’re probably working long hours and earning far less than when you had a JOB. The dream of freedom and lifestyle has rapidly been replaced by the reality of having a very poorly paid job but at least you’re your own boss now (although you too are getting a little moody at times!)
Stage 3 – Head above water (only just!). You’ve realized that it takes real effort and determination to attract clients into your business. Instead of living paycheck to paycheck you’re now living client to client, hoping that you’ll be able to keep this up so you can keep paying your bills. You’re still working way too hard for the results and there’s not much left over to pay for the lifestyle you dreamed of back at Stage 1. Many entrepreneurs never get beyond Stage 3 and remain frustrated because they know they have so much more to offer.
Stage 4 – Success! Congratulations if you’ve made it to Stage 4. You’ve realized you need some good systems and support to help you get to this level. You value what you do, are an expert in your field and your higher fees reflect this. You’ve delegated tasks that are not within your core brilliance and have stepped into being the CEO of your own business. You’re no longer worrying about cash-flow and clients and are finally taking those vacations you dreamed of in Stage 1. Perhaps most importantly you’ve experienced some huge personal breakthroughs that have enabled you to make it to this stage. You know what it takes to create true success.
Stage 5 – Freedom. & Legacy. The entrepreneurial dream and you’re living it! You’ve built a well-known brand serving thousands of clients. You’re a thought leader in your field and you’re fully supported by a team who can run your business without you having to be involved in the day to day operations. You’re the visionary leader within a business that now generates multiple streams of income, time freedom and the lifestyle you dreamed of. It wasn’t easy to get here but the journey was certainly worth it and you’ve got some amazing breakthrough stories to tell!
What stage are you at now? And what stage do you want be at?
We’d love to help you bridge the gap – contact us here to set up a business strategy session to see how we can accelerate your progress.