Episode Details
Back to Episodes
21 - Success Strategies for Each Phase of Business
Description
Something really successful people often do, when telling their stories of rags to riches or hardship to success, is they sort of gloss over the decade or so in between difficult struggle and amazing achievements. But it’s in that between time where the work is really done. And I think we need to hear how to actually navigate that decade or so when our business goes from brand new to an established organization. That’s what I’m talking about today. About the growth years of business. About the stages that are necessary for every business to move through.
I like to think of these phases as similar to human development. We start in the infant stage, move through to childhood, then to teenage years, and finally to young adulthood. Our businesses are not that different. They start in infancy, take steps in childhood growth, become independent teens, and finally are fully grown, young adults. When we think about our businesses in this manner, it’s easy to define the stages that we need to take our business through. But how do we realize success in each stage? What are the right things to do when?
Do we start right off with strong marketing and an omnipresent social media presence when we’re just in the infant phase? Or is that the time for market research and developing our customer service? When should we hire? When should our focus simply be on client experience? When should we expand our offerings? What feedback do we allow to shape our business? These are the things I talk about in today’s episode: the strategies we need to employ in each phase of business. Some things can be left until the teen phase. Some things can’t wait and need to be taken care of in infancy. Knowing when to do which thing in business, and how, is half of the journey to success. Let’s start looking at how businesses flourish like little children with the right parenting.
Key Moments
05:00 First step: infant phase
14:24 Second step: child phase
23:33 Third step: teen phase
- How do we know if we’re taking on the wrong feedback and expanding too fast?
- Has the ideal client for our business been identified? Who do we serve?
- Do we want to constantly be attracting new clients or focus on repeat business?
__
Resources mentioned in this episode:
__
Contact Kari Lotzien | Be the Anchor:
__
Transcript:
Kari Lotzien: [00:00:01] Welcome to Be the Anchor the Podcast. I'm your host, business and leadership coach Kari Lotzien. When the seas of life get stormy, and they always will, it is not up to us to captain anyone else's ship or to try to calm the waters of the ocean. It's up to us to set our own destination for what we really want, and to learn how to navigate those waves of life together while finding that place of security and stability with others. I call this being an anchor. If you are a dreamer, a visionary, an entrepreneur, whether you have an idea, big or small, that you think might just make the world a little bit better, kinder, gentler place, you are in the right spot my friend. We are going to talk about everything from big ideas to mindset and strategy, and sometimes just how to get through the day. I don't want you to miss an episode, so be sure to follow and subscribe to the podcast so that we can stay connect