This episode is the first of five in a mini-series diving into the details regarding the four phases of a business. Did you know that businesses have a life cycle just like a living being? It’s true. And just like we all had to learn how to do different activities at different stages of our lives, and we have had different priorities throughout our lives, so do our businesses. This mini-series is going to help answer the question: which business phase are you in?
There are 4 specific phases that I refer to within Legend Leaders:
It’s critically important to understand where your business is along this lifecycle. Why? Because if you aren’t sure where you are, how do you know what you need to focus on in order to be successful?
What if you are doing work that should be delivered upon in the mature phase but you are only in the startup phase?
Beyond that, there are key fundamental steps that each business must take in each phase to be successful. It doesn’t matter which phase you are in, you have to execute on those key fundamentals around execution, prioritization, hiring, revenue, etc. How they are executed are different in each phase but they each have to be delivered upon nonetheless.
As we go through this mini-series, I’m going to encourage you to go take the “What Type of Business Legend Are You” Quiz. There are 8 short questions, you will get your results immediately, and you will also get them emailed to you so you can refer to them later. So go check it out. www.legendleaders.com/quiz (I say backslash in the episode but it’s a forward slash.)
I will see you in the next episode where we dive further into Phase 1: Startups.