Most entrepreneurs love the buzz of the deal, the new idea, the sales and starting over the detail and the finishing.
Whilst this is new and exciting, it can often result in lots of FUN but limited FUNDS.
There are 4 stages to the business Cycle:
- Form – Start up
- Storm – Scale up
- Norm – Service
- Perform – Statistics
It is rare that you have rapid growth with solid margins through Form and Storm as the cost of innovation, scale and the associated disruption is high.
Moving into Norm and Perform however, things settle down. The energy changes and you can shift gears from sales and scale to processes and profits. I like to have my cake and eat it so to avoid disappointment, I’m choosing the below.
Form and Storm is for FUN: these are my Start-up Businesses.
Norm and Perform are for FUNDS: these are Scaled Up Businesses.
Are you looking to ‘Ride the Rocket’ in Form and Storm, or focus on the processes and profits with ‘Bottom Line Time’ in Norm and Perform?
The key to success here is to be highly strategic.
You get what you focus on, choose wisely.
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