The four stages any entrepreneur goes through   

The four stages any entrepreneur goes through   

Running a business is not something easy to do and while some people manage to succeed although they do not have a lot of experience, others may fail even if they are More »

Steps to starting a small business

Steps to starting a small business

If you are interested in setting up your own business, then there are a few important steps to follow in the process. Because the business world is highly competitive, it is more More »

Keeping your social media fans engaged – how to attract new followers

Keeping your social media fans engaged – how to attract new followers

Considering that social media marketing is more popular than ever and can have a very important influence on the success of a company, managers will need to always be careful with their More »

 

The four stages any entrepreneur goes through   

Running a business is not something easy to do and while some people manage to succeed although they do not have a lot of experience, others may fail even if they are not at the first attempt. There might not be a key to success that works for everybody, but one thing is for sure: when it comes to entrepreneurship, there is definitely a pattern you have to keep in mind if you are planning to start your own company. If you talk to an expert in business analysis, they will probably tell you that regardless the field of operations, most entrepreneurs go through the same phases, with small variations. Actually, many reputable business persons have confirmed this theory, admitting they have experienced each and every stage of this assiduous process. In the beginning, it is all about setting goals and expectations, but it takes a lot of efforts to reach the moment when you can actually enjoy your work and the impact your services bring to the industry.

Of course, each new project is yet another milestone for any business, but as far as the entrepreneur is concerned, they also have an interesting journey. From being afraid, to seeing potential, speculating opportunities and achieving a goal – all these are normal in the life of a business person. So if we were to state some of the most important stages, these would be as follows:

Working towards growth

The first period (ranging from one to three years) of a business is generally synonym to trying to reach growth. As same as any other entrepreneur, you want to get more followers, more recognition, more customers, more sales and of course, more money. This is natural and is most of the times fueled by the enthusiasm of any beginner. However, a common mistake is forgetting to enjoy the ride and getting too caught up into the hassle. For this reason, experts advise you that besides work and skill, you need to add some passion to your struggle and remember to have fun along the way. There might be moments when you feel like you are working in vain, but these are only temporary and in time, you will manage to reach your target. Resenting your work will not help you under any circumstances, so do not give up and keep going.

Fearing positive results are only temporary

Since hard work will eventually pay off, you are probably going to achieve the growth you desired. At this point, after the euphoria of small successes such as reaching new markets or signing an important contract, you get scared. What if it will all go away? What if your efforts are not enough for a continuous growth? These are only some of the main questions entrepreneurs in the entire world are asking themselves when they reach this stage. Actually, the real problem is whether your positive results will become reputation or are just temporary. Try to overcome this feeling by believing in yourself and working harder and harder with each day.

Disappointment

When it comes to business, you will see that achieving your initial goals is not as fulfilling as you thought it would be. You got there, and now what? You have managed to surpass your competitors, become one of clients’ first choices, reached recognition and your company is quite fruitful. Basically, there is nothing to worry about, in spite of this, this stage is crucial for most business persons because it does not offer challenges anymore. At this point, after struggling so much, this can be really disappointing for some of the most competitor individuals. In case this happens to you, make sure to find yourself new opportunities and start experiencing.

Be proud and enjoy

For some people, their entire business journey is a struggle. However, if this occurs, they often forget to enjoy it. At some point, all you have to do is lay back, relax, enjoy what you have achieved and feel proud. Recognizing your success is extremely important, because only this is the only way you will understand how far you have come. You have managed to create a network of contacts in the industry, offer your customers the best experience they could ever have and also fulfil your own expectations. When this happens, do not hesitate to take time and be grateful.