The 4 stages of entrepreneurship…..
The 4 Stages of Entrepreneurship
The entrepreneurial journey is as challenging as it is exciting.
If you think you are good at something, you want to more than likely do it on your own! And then there are all these exiting possibilities….
The possibility of being your own boss… the feeling of being in control of your own destiny… of freedom… of liberation…. the impact that you can potentially create… the number of jobs you can create…. the money…. As you start dreaming about what it could be, it does not take much to amass the courage to get onto the path of entrepreneurship.
It is easy to call yourself an entrepreneur. It costs you just a few dinners to incorporate your company and some pocket change to get your business cards printed calling yourself a CEO. However, making it big is a different story!
Entrepreneurship is not just about being good at what you do… it is about how you can get the word out there… it is about how you can sustain, scale and thrive! It is about building a vehicle that then carries forward your vision… where others live your dreams…. It is about building an organization that lives after you!
Here are the four stages in an entrepreneur’s journey:
Technician:
You will probably start by doing it yourself! You know your skill set. You know how to get a few people to buy into your capabilities. You go out… you sell… you deliver goods! At this stage you are a self-employed technician… a freelancer!
Supervisor:
You are able to do what you do well, you are able to get more work than you can handle all by yourself. You have therefore hired a few more… and to ensure that your quality of service does not suffer, you are closely supervising their activities… for you want to continue to maintain the standard that got you this level of success! You are no doubt running your business, but you are only a supervisor… you must stand on the floor to get the quality that you would like to deliver! You are sure making a little more money than an individual or even a manager of a department, but that comes with a lot of added responsibility, uncertainty and related stress… not to mention, your total inability to take a break! Breaking into that next level can take time!
An Owner:
You own your business, you have scaled enough to where you are now managing your people, you have delegated the vital aspects of your role to individuals that you have put in place… but you are still very involved. Your presence in your office is critical to the continued running of your business. And you are walking the thin line which could land you either way, based on how involved or otherwise you are…. It might sometimes feel like you were better off in your previous stages! You will have more cash flow and growing pains here than you would have ever faced! You must constantly watch for competition and people internally and externally that are best dealt with by your legal counsel. You may be able to take a break on occasion… you may feel financially freer sometimes… but you are always on the edge! This is the stage of equal risk and opportunity! Your creative ideas may seem severely constrained by your other business restraints… and you wait and dream for that next stage where you can be more free and finally pursue your big dreams amidst stress, the need to continue to plough forward while not burning yourself out… personally… financially!
The Entrepreneurial Dream:
This is where you have the vehicle in place… You have a real business… People taking your vision forward… The world knows and recognizes you and you finally get to define what you want done and have enough experience and clout around you to be able to get things moving quickly. You can take time off knowing that your business is taken care of. There sure is stress, pressure… but here you are playing the big game!
Conclusion
I see my own company in stage 3 and fully realize the struggles of the first three stages!
The entrepreneurial path is difficult… stressful… challenging and demands a lot of personal sacrifice…. It is a very lonely journey! But the one thing it does give you, not withstanding the ultimate glory and freedom is… a reason to jump out of your bed each morning with excitement… that you may live what you dream!!!
