5 stages of business growth and the key success factors

05/06/2022 17 min Episodio 21

Listen "5 stages of business growth and the key success factors"

Episode Synopsis

Would you agree if I said determination is key to success? Pretty cliché ha? 
Howcome despite the fact we know this we lose determination?  What makes us lose our determination...? Research shows that "uncertainty" and feeling uncomfortable with uncertainty, is the number one determination killer. 
Imagine this: If I said to you if you cold-call 10 people that you don't know every day for 1 year your business will be a million-dollar business..., even if you hated cold calling it would be much easier to do it. Most importantly, even when you don't feel like it, you can continue doing it... because you have the guarantee that it will work. 
Alas, no one can give you any guarantees in this game of business management. Uncertainty is the middle name for entrepreneurship. 

I decided to make this episode to shed a light on this journey of roller coaster that we call business ownership. 
What are the usual patterns in microbusinesses, what happens in your business at different stages and what should you be doing as the proud owner, how should be adapting?
One of the most difficult things for a micro business owner or solopreneur is to understand the stages of growth that their business is going through and know what shall they be doing to limit the teething pain and grow stronger.
Every business goes through 5 different growth stages…and, on different scales, every business suffers from similar types of pain and symptoms.
Don’t get me wrong, growth is positive for a business and the positive symptoms can be pretty positive like, stabilised income, growing income, new clients, less effort in selling as people know about you and come to you directly a big pipeline of new inquiries and a growing team of people.
Negative symptoms mostly happen during the transition phases and are also pretty common. Too much work (more than you can handle) new systems to integrate, new things to learn, less cash in the bank (because you are investing), new members of the team to deal with, everyone asking you the solution, less quality from clients perspective…

Do you relate to these? Well, hopefully, you will find some answers in this episode.
Some big news!!!
You know how much I believe in the power of networks. 
If you have a strong network of influence, who became your tribe, you can achieve anything, I mean anything you want.
Therefore, we as Academy for Women Entrepreneurs acquired 6 existing Women In Business Network franchises, all in central London. We are thrilled to welcome this new department into our business and invite all our listeners to contact us to visit our meetings. There are 5 meetings per month held in London and one online. I am sure we can fit you somewhere where you can connect with like-minded, awesome women in business!

And finally, if you need a little bit more understanding about your business stage and what’s next for you just send me an email and we’ll book you in for our next planning session!
https://academyforwomenentrepreneurs.com/workshops/

https://academyforwomenentrepreneurs.com
[email protected]

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