Today I'm going to talk about the life cycle of a business and how to get the most out of each cycle while also extending the lifespan of your business.
The four different stages of a business life cycle are:

• Infancy
• Adolescence
• Growing Pains
• Maturity

We’ll talk a little about what each of these cycles means and how they can each help expand your business’ lifespan.
Infancy
This is generally considered the technician’s phase, which is the owner. At this point, the relationship between the business and the owner is that of a parent and a new baby. There is an impenetrable bond that is necessary to determine the path your business will follow. Never drop your baby.  
The key is to know your business must grow in order to flourish. You cannot stay in this stage forever.
Adolescence
In this stage, you need to start bringing your support staff together to delegate to and allow growth to happen. The first line of defense is your technical person as they need to bring a certain level of technical experience. This cycle really belongs to the manager though. The planning stage needs to start, and a relationship should be built with the entrepreneur to plan for the future.
Growing Pains
There’s a point in every business when business explodes and becomes chaotic. This is referred to as growing pains. It’s a good problem to have, but a problem nonetheless. You are often faced with a number of choices:

• Avoid growth and stay small
• Go broke
• Push forward into the next cycle

Maturity
The last cycle is maturity, though this doesn’t mean the end of your business. Your passion for growth must continue in order for your business to succeed. You need to keep an entrepreneurial perspective in order to push your business forward.
You see how all four of these cycles are connected and depend on a strong foundation for each one of them for your business to be and continue to be successful. All three of your key roles (the technician, manager, and entrepreneur that I mentioned in my previous post) must also work together to work through these cycles.
If you’re having trouble putting together your business life cycles and figuring out which of the key roles you fit into, try our FREE test drive, Click Here. 

Today I'd like to chat about the different types of support staff you need and what makes them so important.

There are essentially three key roles that need to be filled to set your business up for success:

• The Technician
• The Manager
• The Entrepreneur

All of these roles need to be played simultaneously by different people with the right talents. It’s all about balance.

The Technician
This person represents the present and all that needs to be done for the physical aspects of the business-building process. They are the “doer”. This is usually the most visible person in the entire operation.

The Manager
This person represents the past and works to fix problems through learning from past mistakes. They are the practical side of the business and are in charge of putting together the business and overseeing the planning.

The Entrepreneur
This person represents the future and the vision for the business. They are responsible for the creative side of the business and are always considering ways to enhance products/services, business image, branding, and more.
All three of these characteristics are essential in the success of any business and to build a solid foundation from the start, you need to work harder to find the right people to put in these roles. Obviously, you need to be one of these key people, but ensure you find the role that fits your skills and talents, not necessarily what you THINK you should be doing.

This may be a hard process for you as you will need to relinquish some control over the business and instill trust in people to allow them to do their jobs.
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Remember, our business coaches can help you through this entire process and teach you how to avoid falling victim to e-myths when you try our FREE test drive.

We are going to embark upon a journey through the world of e-myths and debunk them to help you avoid falling into the e-myth trap.
First, let’s take a minute to talk about what an e-myth is. An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with:

1. Desire
2. Some capital
3. Projected targeted profit

This sounds great, but it is just not realistic. Think of starting a business as a marathon. Sure, everyone starts out of the gate at a record pace, but after a few miles, people start slowing, and some drop out entirely. Building a successful business takes stamina and agility.
The reality is that there are many different facets to a successful business and none of them can be ignored if you plan to find success.
Let’s take a minute to talk about entrepreneurial seizure. This defines the roller coaster of emotions that comes with starting, nurturing, and the potential failure of a business.
The emotions that occur, in order, are:

1. Exhilaration
2. Exhaustion
3. Despair
4. Sense of self-loss

This is usually caused by the e-myths and assumptions we talked about. You can get your hopes so high on instant success that even the smallest lag and you are sent into an emotional tailspin. This is also brought on by the stark realization that you can’t do it all and will need help in the areas where you don’t have the knowledge. Now, faced with limited choices you may feel like you need to back out and hide, but don’t do this.
Use our FREE test drive to get the business coaching you need to avoid feeling overwhelmed and defeated.
Click Here:  Success Simulator