Stage 2 Video

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ALL OF THE TOP ACHIEVERS I KNOW ARE LIFE-LONG LEARNERS LOOKING FOR NEW SKILLS, INSIGHTS AND IDEAS. IF THEY’RE NOT LEARNING, THEY’RE NOT GROWING NOT MOVING TOWARD EXCELLENCE

DENNIS WAITLEY

BE NOT AFRAID OF GROWING SLOWLY, BE AFRAID ONLY OF STANDING STILL

CHINESE PROVERBS

KEY FACTOR:

There are five stages of growth in any business. Stage 1 is existence, Stage 2 is survival, Stage 3 is success, Stage 4 is take-off and Stage 5 is resource maturity. If your company has been started and you are generating between $155-410K/yr in gross revenue then you are in stage 2 of the business growth cycle which is survival. In stage 2 you are in the heart of the growth stage of your business. You probably have between 5-12 employees and if you are driven by repeat clients you have between 50 and 140 repeat clients. You are at a moderate sales growth but you are still in jeopardy of failing, especially at the $155K and 50 repeat client level of stage 2. You have minimal emphasis on management systems and long term planning which will need to be developed to get you to stage 3, success.

ACTION ITEM:

Develop plans for each of the 7 key factors that will drive your company into Stage 3. The 7 Key Factors that drive any business are Leadership, Information and Analysis, Strategic Planning, Human Resource Development and Management, Process Management, Business results and Customer Focus and Satisfaction.

IMPLEMENTATION PROCESS:

At Stage 2 you need to take some time doing some long term planning for each of the 7 Key Factors listed above. Look at the detail of each Key Factor, what processes you currently have in place for each Key Factor and what processes will need to be changed or added to continue a reasonable growth curve. For most companies just entering Stage 2 most of the emphasis will be on Information and Analysis and Human Resource Development and Management because those will be your weakest links coming into this stage. You will need to make significant impact on those two key factors to get to stage 3. You now have a lot more data to manage and analyze than you did when you were just starting out and you are in a constant hiring mode.