The Only Analogy You’ll Ever Need to Understand Business Growth Stages
The analogy is a parenting analogy, but you don’t have to be a parent or even want to be one to understand it. It goes like this, and I’m writing on this topic because I see many entrepreneurs stumbling here while trying to grow their business.
There’s an unspoken force that pushes passionate business owners, hungry to climb higher and move faster, into trying to rush beyond the point their business is actually at while pretending to own a level of credibility not yet earned. The Internet is unfortunately filled with people feeling that pressure who follow formats and templates with a desperate level of “doing the right thing”, regurgitating others’ thoughts while grasping toward growing their business bigger and better.
Surely you’ve never felt this way, right? Grow bigger! Launch a course! Now, now, now!
I liken the scenario to a brand-new mom, holding her newborn baby in her arms as someone walks up to her and says, “What you really need to do is skip over this whole baby stage and get that kid into the teen years.” It wouldn’t make any sense right? No one would advise a new parent to miss out on the joys of being a brand new parent, just as no one could actually magically transform a baby into a teenager, either. The journey takes time.
The want to be farther along the journey is somewhat warranted in business—who doesn’t want to have all of the experience, all of the know-how, all of the earned elements aligned and in place, all of the cash stacked? But the truth is that it’s unrealistic at the onset. And trying to force your business into being something it isn’t (or, worse, pretending that it is) will only ensure that you miss out on owning and putting to work your actual strengths at where you’re standing. It can also greatly influence you misinterpreting your best next growth moves.
Think, for example, of the entrepreneur chasing down passive income, ready to invest large amounts of time and money into building a high-level, premium-priced training course … six months into business ownership and with a mailing list of 50. ROI and booming passive income just aren’t likely, not yet, and working to create an expensive course probably isn’t the best next move at this time, even though the Internet is filled with masterclasses on how to launch profitable courses. This entrepreneur could save serious money and avert a crisis feeling of failure through this simple analogy and an honest assessment of where his/her business currently, actually stands. (What’s a better move for this hypothetical entrepreneur? Build that emailing list, take a look at opt-in offerings, implement larger and more strategic social media efforts, create effective content, etc.)
Be true to yourself and your business right now
At what stage and phase is your business at right now? Are you holding a newborn bundle, managing the changing needs of a growing teenager, or even further along the journey? What is your idea for your best next move toward business growth, and does your current positioning warrant making this move? Do you have a clear idea of the goals you’d like to achieve within this next business growth stage you seek? And, finally, have you talked with a professional whom you trust for savvy advice on your next strategic business growth options?