![\"baby_in_white_205018\"](\"http:\/\/abundancecoaching.net\/blog\/wp-content\/uploads\/2015\/10\/baby_in_white_205018.jpg\")
<\/a><\/p>\nThe four different stages of a business life cycle are:<\/p>\n
- \n
- Infancy<\/li>\n
- Adolescence<\/li>\n
- Growing Pains<\/li>\n
- Maturity<\/li>\n<\/ul>\n
We\u2019ll talk a little about what each of these cycles means and how they can each help expand or extend your business\u2019 lifespan.<\/p>\n
All of these stages bring in the 3 basic roles of the entrepreneurial environment\/business\/owner: the Entrepreneur, the Technician, and the Manager.<\/p>\n
Infancy<\/strong><\/p>\n
This is generally considered the phase of the technician, which is one of the \u201chats\u201d or roles being worn by the owner. At this point, the relationship between the business and the owner is that of a parent and new baby. There is an impenetrable bond that is necessary to determine the path your business will follow. The business and the owner are deeply and personally attached, part and parcel of each other.<\/p>\n
The key is to know that you AND your business must grow in order to flourish, and that you cannot stay in this stage forever. The challenge is that many business owners continue to view the business as themselves, and do not prepare the business nor themselves to separate from that \u201cbaby-ship\u201d bond. It\u2019s also a reason why many owners are afraid to see their businesses \u201cgrow up\u201d, and have other \u201crelationships\u201d so necessary for growth. These folks want to perform all roles for their baby. That\u2019s not healthy for the baby, nor for the \u201cparent”\/owner.<\/p>\n
Adolescence<\/strong><\/p>\n
In this stage you need to start bringing your support staff together. You need to delegate and allow growth to happen\u2026and let your \u201cbaby\u201d be handled by other people. The first line of defense is your technical person, as they need to bring a certain level of technical experience. However, this cycle really belongs to the manager. The planning stage needs to start and a relationship should be built with the entrepreneur to plan for the future.<\/p>\n
Growing Pains<\/strong><\/p>\n
There\u2019s a point in every business when business explodes and becomes chaotic. This is referred to as growing pains. It\u2019s a good problem to have, but a problem nonetheless. You are often faced with\u00a0 3 basic choices:<\/p>\n
- \n
- Avoid growth and stay small<\/li>\n
- Go broke<\/li>\n
- Push forward into the next cycle<\/li>\n<\/ul>\n
Moving ahead requires collaboration and communication from and with<\/span> all roles (Technician, Entrepreneur and Manager). All 3 must step up, communicate openly, and collaborate with the others. At this time, it\u2019s important to be very clear on strategies and plans\u2014even if the strategy is to stay as is. An honest assessment or SWOT analysis (Strengths, weaknesses, opportunities and threats) needs to be performed by each role for their areas of expertise, as well as for the company as a whole.<\/p>\n
Maturity<\/strong><\/p>\n
The last cycle is maturity, though this doesn\u2019t mean the end of your business. Your passion for growth must continue in order for your business to succeed. You need to keep an entrepreneurial perspective in order to push your business forward.<\/p>\n
There are 3 areas that MUST be addressed, even if you want your company to remain as-is. To change NOTHING (or choose to always do and be what you\u2019ve always done and been) doesn\u2019t mean that you will stay status quo\u2014it means that you will eventually slide backward and start to fail. Even mature companies must do these 3 things to stay alive and viable:<\/p>\n
- \n
- Continually master their craft by learning and changing<\/li>\n
- Build continued chemistry with clients, through understanding them and \u201cwalking in their shoes\u201d<\/li>\n
- Deliver products and services that feed clients\u2019 changing needs and desires\u2026and this means listening to the clients.<\/li>\n<\/ol>\n
Take nothing for granted. Learn, empathize and listen.\u00a0 Always.\u00a0 <\/em><\/strong>If you don’t, your business will slip into the fifth and final phase– and will pass away, die.\u00a0 If that’s what you want, then that’s something to be welcomed.\u00a0 If not, your business, and you as its leader, must be fed and nurtured. Always.
\n<\/em><\/strong><\/p>\nYou see how all of these cycles are connected– and depend on a strong foundation for each one of them– in order for your business to be (and continue to be) successful. All three of your key roles must<\/span> work together to work through these cycles.<\/p>\n
If you\u2019re having trouble putting together your business life cycles and figuring out which of the key roles you fit into (and how to let go of those you DON’T), try our FREE test drive. Contact me at lynnea@abundancecoaching.net<\/a>, or 408-975-9930. Also, visit Abundance Business Academy<\/a>.<\/p>\n
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