The 4 Mind-Sets & 7 Stages of Business Life: Identify Key Factors & Your Business Can Progress Toward Unlimited Success

22 Jan, 2009 | by

I created the model of 4 Mind-Sets and 7 Stages of Business Life in order to give you a simple but proven roadmap to success. Here’s how it works.

First identify which mind-set is yours right now:

  • Technician: In this mind-set you do as you were trained to, depending on leadership and decisions from others. Those dissatisfied will soon become inspired to move to the next level.
  • Entrepreneur: With this attitude you venture out on your own. But once you become established, you need to delegate work to others and manage time and energy more effectively in order to grow.
  • Business Builder: In this mind-set you increase success by putting human resources and technical and managerial systems into place. You expand your business – and your profitability – exponentially, freeing up more time and money to look toward the future.
  • CEO: The CEO mind-set is characterized by abilities, tools, assets, and resources to plot your own course – both professionally and personally – and do whatever you want to in life. You can dream big and then fulfill those dreams because you have reached the pinnacle of success.

After identifying your current mind-set, the next step is to match it with the level that your particular business is at right now within the 7 Stages of Business Life.  

#1- Idea Stage: This is the stage when you are inspired to start a business with a vision.
#2- In the Game Stage: Once your business gains customers and stability enough to compete, you are in the game in a sustainable way and can start looking at ways to develop and grow further. 
#3- Growth Stage: You expand your business revenues and client base for greater success and more profits.
#4- System Stage: In order to continue growing, you need labor, money, and timesaving systems in place. 
#5- Replication Stage: Your success formula has the solid foundation it needs so now you can duplicate it – with more locations, for example, in more places – for exponential expansion.
# 6- Assets Stage: The business is profitable and others offer to buy it as a recognizable, lucrative asset. 
# 7- Walk-Away Stage: Keep the business growing, sell it, or license or franchise it. The choices are yours to make and the options are plentiful. You have the financial and personal resources to pursue any goal or dream.

 

By identifying the business mind-set and applying it to the seven stages of development, anything becomes possible for anyone in any business. Just remember to adopt the appropriate mind-set at the right stage, and avoid mixing the stage you are at with the wrong mind-set. Do as I’ve outlined and it will bring focus to the skills and resources you need now to move your business forward to the next level. Then enjoy the freedom and options that financial wealth provides.  

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