Each business begins in the Dream Stage, when the business is just a thought or an idea. At this early stage of the business, it’s an adventure and the focus is on proving that an idea is a viable concept and putting ideas to paper.

The Innovation Stage is where great ideas flow. They produce no shortage of opportunities. Products or services are in production and the first customers exist. While it’s all about sales, it is common for many businesses in this stage to underestimate money needs and the time it can take to get out of the ‘red.’ An improved business plan, increased cash flow and good organisation of priorities are key.

During the Breakeven Stage, revenues and customers are increasing while new opportunities and challenges arise. You are ‘running’ flat-out. Businesses at this stage are breathing easier, but are still heavily dependent on the owner. The challenge is to juggle key business functions in a way that continues to grow the business.

The Steady Stage is where growth is becoming manageable and business life has become more routine. As the business matures, the focus turns to operations and proof of management. Key during this stage is a determination not to settle, but to avoid slipping backwards by pushing forward to the Success Stage and beyond.

The Success Stage carries with it a sense of relief, as business owners move into a stage where their business depends on them less and less. The job is not done yet though - independent wealth awaits. Strong business strategy and implementation processes are key at this stage, in order to release time and lifestyle for the owner.

Owners of businesses in the Significance Stage are focused on Leadership. Others are ‘in place’, and you have your freedom, but will the business continue its trajectory when you’re not managing? Developing ‘ownership’ in the team is key to not slipping backwards and unlocking “what’s next?”.

During the Succession Stage, the business is thriving on Team leadership and your vision. What’s the next great adventure and how do you juggle both well?. The goal of the business owner is to transition  vision through mentorship, and to determine the legacy you want for what started as your dream.