Welcome to our latest blog in our series all about the importance of CLARITY. In this latest blog in our current series we focus on those entrepreneurs in the RUN phase of their entrepreneurial journey.
With this in mind, if you have already successfully navigated the highs and lows of the initial stage of your entrepreneurial journey then your next challenge is almost certainly going to be around establishing a more consistent level of growth and increased profitability in your business.
You will have already learnt a lot about sales, marketing, finance, purchasing, IT and administration, but maybe you are finding it challenging to get away from the early cycles of having to find work, deliver work only to have to go back to finding more work?
We call this next phase the RUN phase. As your business enters this phase it becomes easy to lose sight of the original goal of building your business to create a lifestyle that gives you both the financial and personal rewards you desire.
Maybe you’ve noticed fellow entrepreneurs kicking on and enjoying the commercial and personal rewards that come with;
- A more consistent pipeline of ideal customers
- Increased numbers of higher value customers
- Greater levels of repeat business
- Greater levels of brand recognition
- Improved cash flow & profitability
- Greater levels of control from a more systemised and process driven business
- A growing team/business that’s less reliant on The Founder
- A significantly better work-life balance
Like the many others at the beginning of this RUN phase, you’ll almost certainly have a strong desire to realise them too!
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You’ll appreciate that with the growth in both revenue and customer base the previous levels of anxiety and frustration subside and that with each new business win comes increasing levels of confidence for the future and the opportunity to celebrate the successes.
You’ll be focused on getting to a point where you know that you are consistently making enough money to pay all of your bills and are able to pay yourself more than you ever earned as an employee prior to starting your own entrepreneurial journey.
As you progress through this RUN phase you’ll be looking forward to bringing competent, productive and loyal team members on board with a view to;
- increasing the business’ ability to take on more work,
- reduce its reliance on just a few customers whilst
- increasing its profitability and
- reducing the business’ reliance on you the founder/owner too.
At the same time, you’ll already have learnt that entrepreneurship is not without its challenges. You will still remember the feelings of self doubt, loneliness, overwhelm alongside with the pressures to succeed in that SWIM phase.
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Understand what stage your business is currently at, and get a bespoke report that will help you take it to the next level!
As businesses grow, they invariably face some very specific challenges. Understanding how best to address them, in what order, whilst also identifying the opportunities associated with these challenges is a critical part of unlocking your business’ true potential.
You will already appreciate that the path to success is rarely a linear one. You’ll equally be aware that there are many things that you perhaps don’t know and/or have simply never done before.
You’re no doubt keen to realise the rewards of this early growth phase quickly and like many other entrepreneurs probably don’t relish the thought of making painful and costly mistakes along the way.
Consequently, you’ll see the benefit of having the help and support of an experienced entrepreneur and business coach and mentor to ensure that you build the knowledge, infrastructure and an appropriate plan to ensure you succeed.
For many, like you, that success may be realised through one of our bespoke One to One programme. Alternatively, you may find that the additional help and support of a community of like-minded entrepreneurs working alongside you and your professional business coach might be a better solution for you right now.
If that’s the case don’t delay any longer. Join one of our CIPD accredited Group Coaching or Mentoring Programmes.
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Download a free copy of our eBook “Why So Many Businesses & Ambitious Entrepreneurs Fail to Achieve Their True Potential” today!
It’s packed full of practical and easy to implement strategies that will help you “Avoid the Pitfalls” and drive your business to the next level!
DON’T MISS our next blog in this series of 6 separate blogs. In our next blog we’re going to delve deeper still into the importance of CLARITY for entrepreneurs in the RUN phase and focus more specifically on the clarity needed to develop more consistent levels of growth and profitability.