Business life cycle

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Reading time – 2 minutes

Here’s to give you an idea of what’s ahead of you:

Stage 1

The most stressful period of running a business; you just got started and you don’t exactly know what you’re doing but you do whatever comes up.

You usually look like crap because you’re too busy burning the midnight oil and the candle from both ends.

This is the period when you should be conscious of your health by making sure you exercise right and mindful of how you talk to people because the harder it is to run your company the rougher (arrogance, selfishness) you get and you might lose/offend your parents, siblings, girlfriend…

This is also the period where you have to confront who you are and why you got into business in the first place. Did you step on the field with a cheerleader mentality? Are you in the game to win, or did you participate because it’s the cool thing to do?

Side note: this is the stage in which you will know whether or not we are full of shit or not.

Stage 2

You’re not panicking as much as you used to because you’ve figured out the essentials. You’ve got more time for yourself and that might go two ways. You might become complacent and if you’re not careful everything will unravel. Or you will focus on expansion, setting up another business, restructuring your business by finding cheaper suppliers etc.

Stage 3

This is where you will split all you were doing at the beginning into job titles with their functions and assign them to “Management”.

If you’re as focused as you initially was, you will write an SOP and put it in every room, so that every employee becomes fungible and you can spend most of your time planning your next steps and checking troubles ahead.

Stage 4

You’ve developed a holistic understanding of money and business, so you see opportunities everywhere and are making things happen left and right with adjustments made on the fly.

Note: you can tell that I’m at Stage 1.5 and I have just derived Stage 3 & 4 from where I work at. Anyway see you next week fam!

Stay prosperous!

 

 

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