4 Stages of Business Success

If you’ve got children you know that the help they need depends on how old they are and what stage they’re at.

From toddler, to adolescent to twenty-something, the advice you provide (when they’re looking for it) depends on the stage they’re at in their life. The same is true with…

your business. What you need to increase your income is going to depend on what stage you’re at too.

So what kind of help do you need now…

The answer is that it depends.

It depends on what stage you’re at as an entrepreneur and business owner. Just scan through the following 4 stages, pick the one that describes your business and find the answer.

Stage I – Startup

You have an idea for a business, a new product or a better way of delivering a service, one you see a need for and you want to support yourself and your family. At this point your biggest concern is taking your idea and turning in into a saleable product or service.

It sounds simple but 50% new businesses fail in the first four years.

So what do you need to succeed?

Focus!

Over the last 20 years I’ve worked with hundreds of business owners, eager to launch a new business. The most common problem isn’t lack of hard work, commitment or even smarts.

The biggest mistake that most startups make is trying to do too much, to be everything to everybody. What almost every entrepreneur and startup needs to be more successful is to focus on clarifying their target market, the problem they solve and the primary benefits of their product and service.

Figure out what your business is, who it helps and how. Then come up with a killer marketing message so your prospects understand the value of your product and services. It’s a simple step that all too many businesses ignore, even well established ones, at their own peril.

Here’s the simple formula to focus your business and your marketing >> 

Stage II – New Business

After a few months of working around the clock, you have a product or service ready to sell. You land a few customers and sales start to trickle in, but that’s when the frustration sets in.

You’ve worked hard to create top quality products and services but your business is still the best-kept secret going. Hardly anyone knows about it and too few are becoming buyers.

What do you need to get more than the occasional client and sale?

It’s at this stage that entrepreneurs and service providers who are experts in their industry niche, in accounting, web design, dentistry, in financing realize that they’re not experts in marketing.

What do you need to grow your business at this point?

Ideas!

Even the smartest entrepreneur needs marketing ideas so they can discover the proven ways to attract clients, increase sales and generate a steady income.

Are you looking for more ideas, low-cost proven ways to skyrocket your business?

Use the ultimate marketing success formula >>

Stage III – Profitable Business

It happens to every smart entrepreneur and business owner. You apply a few solid marketing strategies and business starts rolling in and pretty soon you’re overwhelmed.

You’re trying to do everything, do the work, do all the routine stuff and keep marketing so you avoid roller coaster swings in the number of clients you have.

The problem now is, that because you did a few things right your business is the ball and chain around your life. You’re making good money, but you’re working way too hard and have yet to break into the upper six-figures or seven-figures.

At this point, you don’t need more ideas. You already have too many ideas.

At this stage the challenge is taking what you already know, all the good ideas you’ve been accumulating, and figuring out which ones to apply and how.

What do you need help with?

Implementation.

This is the stage in your business when a mentor, a coach can help you. You need someone to work with you one-on-one to help you sift through all the ideas you have, figure out which ones to use first, second and third to help you keep the sales rolling in.

Do you have a profitable business? Looking for ways to grow it?

Get one-on-one help growing your business >>

Stage IV – Successful Business

This is when things get really crazy and your life feels like controlled chaos or just plain chaos. Sales are rolling in at a steady clip and you keep coming up with even more ideas to grow your business.

It’s at this point that many otherwise successful entrepreneurs let themselves get buried by their business success, and end up missing the big opportunity to not just double their business but grow it by a factor of ten.

I’m sure you know friends who own a business. They’ve got a steady business and are bringing in a couple hundred thousand dollars a year but then they stop short. The problem, as you know, is that they’ve become their business instead of running it.

What do you need help with at this stage, once you have a successful business?

Expansion.

After all the hard work you’ve put into creating a profitable business why not continue to grow it and help even more customers enjoy your products and services.

Can you imagine if Bill Gates had stopped after he’d sold his first client? He’d only be worth a few hundred thousand dollars.

Instead he’s worth billions, has a huge team that runs his company for him and spends his time giving some of his billions away and giving back.

Any successful business has the potential to keep growing. It’s just a matter of taking your products and services and multiplying the number of people you sell to. Or course this involves a couple of key steps such as making better use of your time, building your team and mastering the art of delegation.

The challenge at this stage – is to move from doing all the work to leading your team and building your company. It’s not easy – to make the shift while you’re in the thick of it. Which is why we provide a complete done-for-you online marketing and sales support system, that comes with one-on-one coaching.

Ready to lead your business to the next stage?

Get Started >>

To your success,

Charlie Cook
MarketingForSuccess.com

P.S. Both my “children” are in their mid-twenties now, and aren’t looking for the basics anymore, but seek out advice on how to get the next promotion, how to get the next job, and how to advance their careers, in both the non-profit and for profit worlds.