The Three Stages of Small Business

In my reading I’ve enjoyed the writing of Duct Tape Marketing creator John Jantsch. You can read his blog over at Duct Tape Marketing.

In a recent blog, The Three Natural Phases of Successful Small Business Growth, Jantsch talks about the 3 phases that he sees small businesses progress through.

The first phase is foundation, the second phase is growth, the third stage is momentum. Jantsch describes each phase and encourages readers to identify where they are.

To recap (and to add on to what Jantsch has said):

• Foundation is the early start-up phase where entrepreneurs start their business and work through all of the initial stage work, like creating systems and developing the business plan. In this stage, the business owner is often working solo and the work, although thrilling, might not be extremely profitable.

• Growth is the next phase where the business moves from a solopreneur who runs it all into a revenue-producing machine that probably includes additional staff and refined products or services. Jantsch wisely says that businesses feel the pull to add new markets and products but the better choice here is to narrow your markets and focus.

• Momentum is the third stage and businesses owners who achieve this stage hit a “zen” stage in which they just keep doing the smart, profitable things again and again to consistently build a strong business. But this stage is so easy to fall out of that mindset and it needs to be carefully cultivated and nurtured to be successful. Jantsch also says that this is a stage when other businesses want to partner and align with you.

Jantsch’s blog is so relevant to the work I’ve done and it mirrors closely the clients I’ve worked with over the years as well as the businesses I’ve been involved with.

As a consultant, I’ve helped businesses jump into that Foundation stage. As the owner of IAC Professionals, my staff helps businesses (often those in the growth stage, run by entrepreneurs who need to delegate in order to grow).

If you’re a small business owner looking for the next step in your business, you should consider where you are in this spectrum and how you can advance your business to the next level.

Until next time!

Related posts:

1. When Business Growth is Bad – Part 3
2. When Business Growth is Bad – Part 1
3. These People Will Destroy Your Business
4. When Business Growth is Bad – Part 2
5. Business Growth in Ten Minutes a Day