Do you understand the life cycles of business? Do you ever find yourself wishing you could achieve success a lot quicker? We’re so used to instant gratitude, that unless we see fast results, we tend to get discouraged, give up, or lose momentum halfway to the goal. I really think having a quick money mentality is what causes us to jump from program to program and mentor to mentor. We just think our results aren’t happening fast enough, so we go looking for the next big promise or solution that we think will make it happen sooner.
Launching a Business to Last
It’s critical to launch and build your business for the new economy with a sound plan and on a realistic time table…especially if you’re building it for sustainability. Once you get the foundation in place you can implement rapid product creation strategies and quick responses to the changes that seem to hit us overnight when doing business online. Launching a business isn’t about caffeine products and short term strategies that may produce income today, but fail to produce long term residual profits and an asset that brings freedom. A product launch is not a business! The life cycles of business require vision casting, strategic planning, and front end effort for lasting results and a lifestyle business outcome.
There are basically 5 stages in the life cycles of business.
- Development Stage
- Start-up Stage
- Expansion Stage
- Maturity Stage
- Transition Stage
I’m going to highlight each stage in different posts over the next week.
The development stage is divided into two areas I refer to as “seeding” and “launching” and in my Business Launch Mastery Academy I’ve broken this stage down into 5 “courses”. The first three courses are where you “seed” your passion (Dream Big!), and the last two focus on implementing your business launch (Launch Bold!). Mastering these five courses will help you thrive through your business launch!
- Dream This is where you seed your idea or passion into a mission and vision by first examining your Divine purpose, what you really feel called or compelled to do, and your personal strengths, weakness, experiences, skills, etc. You take a look at why you want to launch a business, and visualize what you see your business and personal life looking like in a year, 2 years, 5 years, and beyond. Then, determining what it will take to make that vision a reality and the sort of mindset you will need to see it through is critical before moving to the next course. There is no real commitment at this point, just aspirations. Clarity is the key to effortlessly move to the next course.
- Develop Once you are clear about your purpose, passion, mission and vision, and your success mindset is in alignment, you develop the steps you need to put a plan into action. What are your key revenue strategies that you’ll develop your offers around? What business entity will you put in place? What type of funding, budget, sales projections, and exit strategies do you plan to launch with? What self-mastery habits and business skills do you need to work on to achieve your projected outcomes and goals? What environments do you need to design to enhance and maximize your success? The motivated entrepreneur will not only develop, but actually start the processes in this course of creating the legal, financial, and operational foundation needed to move forward.
- Define After the operational, legal and financial foundation is established, you will need to define your big idea, your niche, your brand, the market potential, your products, your marketing progression plan (funnel), the tools you’ll need to launch, and the systems you’ll use to automate and leverage. At the end of this course you should have completed your market research and have a concrete business and marketing plan in place to implement, both in the short term to launch and in the long term to scale up your business.
- Design Through the first 3 courses, you’ve basically created your customized business plan, so this course is where you begin designing and putting into place the various pieces of your plan. This will include your platform like your website, landing/squeeze pages, email campaigns, social media, and then adding your products and offers, list building strategies, launch strategies, joint ventures, etc.
- Deliver The end result is a strategic and well thought out business launch where you officially open your business to potential customers and begin creating revenue.
To “seed and launch”, the first two segments of the development stage of business, will typically take about 6 months…or even longer for some who may be working a job alongside launching a business. Once launched your business moves into the next stage which is your start-up stage of the life cycles of business.
I’ve found that many people skip over critical steps, ignore, or halfheartedly do the work in developing a business plan. I’ve also watched many people struggle through the start-up stage because they chose to cut corners in the seed and launch stage. And, I’ve watched people never get through to the actual launch because of poor planning, critical mistakes, and sloppy implementation in this early stage.
The development stage requires an honest assessment of your dreams, skills, mindset, personal mastery, market potential, and your business strategies. The process may result in a shift in your original vision, working on personal habits, or may require more skill building or research before moving on. Many things can go wrong if a good business plan isn’t put in place.
One of the best ways to avoid making mistakes in this stage is to get a mentor or coach that has business savvy and strategic and visual planning experience. That way you are given direction and accountability in the planning process.
Are you among those who are committed to get launched, develop great products and services that fit into your long term progression plan, and produce the cash flow that results in the freedom you deserve and sustains your future growth?
If you’re unsure how to get started, or would like to work with me to create a strategic plan that will help you thrive through your business launch and set your business up for growth and profits in the future…
Let’s spend 30 minutes getting acquainted in a complimentary Discovery session. Click the image to schedule.