What should I expect?

Are you wondering, “When is my business ever going to GROW UP?”. That is a great question. Fellow small business owners, we all have this question. Understand that business development isn’t linear, and the answer is – IT DEPENDS. Look at the statistics according to the Bureau of Labor Statistics:

Year 1 –

Consider the Year 1 failures. The business development phase was stuck in Creation Phase. Like the idea was more romantic in nature than solid concepts and lacked many foundational processes to offer stability, and they failed. It would be the business foundation built on sand. It could have been great ideas, just not built on a strong foundation. This business didn’t mature past the Creation Phase.

Business Development Year 5 –

The year 5 category offers some great promise. Most of these businesses would have worked out the missing pieces in their foundation and stabilized things well. The business is growing and showing signs of promise. As the business grows, control slips away from the one-person operation, and chaos grows along with the company. Business owners have staff, products/services are growing, delegation is happening, and money is coming and going.

This phase of business growth has moved into the Chaos Phase. Chaos has its own office space, teams are working but not in unison, and tasks are being completed but usually with tremendous inefficiencies. Cash is coming in and going out so fast that the business’s financial future is in jeopardy and unclear. Cash flow plans, team building, and strategic planning will help provide the necessary elements to help move the business to the next business development phase.

Remember 50% will fail during this time period. This is a tricky time and requires a lot of attention to maintain this growth. The businesses that stay in this Choas Phase are the ones that fail. “Herding Cats” can only go on for so long before things snap and the business owner throws in the towel.

Year 10 –

The businesses that have reached this point are likely those with the greatest resiliency. Some are the stubborn types that can put their head down and ride it out, but nonetheless, the Chaos Phase has always been life-sucking, and many will fold during this time. Like the frog in the pot of water, when the heat is applied, they eventually will succumb to the heat and close the doors.

Those that have put systems and processes in place will be in the 30% that survive this period. They will have moved into the business development phase called, the Control Phase. The business learns to run without them having to intercede in many of the day-to-day transactions. Once control is established, the business owner becomes focused on prosperity and getting freedom for the business. They can work on the business and not ‘in’ the business. Growth, vision, strategies, and financial markers are all areas they can focus on and make an impact on.

Moving through the Business Development Phases

Fellow small business owner, you can do this! The Chaos Phase is the hardest part of the business growth phase. It is like parenting the adolescent. They were cute and cuddly in the creation phase, but then they became these nearly intolerable ‘things.’ Those of you that have been there (I had five kids) you know what I am talking about, and those of you that haven’t been there yet, I don’t want to ruin it for you.

Anyway, the Chaos Phase has things coming at you left and right, and it sometimes makes you think the world is out to get your business and see you fail. I can’t say how long it will last, but I can tell you if you reach out and hire a business coach, you can make this phase shorter and move into the Control Phase more quicker.

Having the help of someone that has been there, someone that can look around at the scenery while you keep your hands at 10 and 2 on the steering wheel of your business, will only make this period easier to endure and help you get control. I would love to be your passenger on the journey to your success.

Would you like to talk about how to get started? Click this link for a FREE 30-minute strategy call to discuss your business and your journey. See if we can take a ride together, no high pressure, just a conversation; bring your cup of coffee – let’s talk.