Business owners will often explain to me that their business is like their “third child” and it is easy to understand why…
- In the early stages of your business you most likely got up early every morning, experienced many sleepless nights and spent way too much money on “toys” you probably only used one or two times.
- As the business grew you learned from your mistakes using the trial and error system as well as reading everything you could on the subject (“What to Expect When you are Expecting…a Decrease in Consumer Spending”) and learning from role models and peers that experienced the same issues you went through. This is called “pre-business adolescence”.
- When you reached the teen years you may have realized your business had grown and changed and looking back you hardly recognize what you have created (this is the scariest time of your business life). You begin to question everything, not the least of which is “do I even know what I am doing anymore?”.
- Hopefully once the teen years are over you realize you did know what you were doing and you now have a self-sustainable “being” that you molded and, with any luck, behaves in a way that at least somewhat resembles your own vision and personal value system.
- After you are certain stage four has been reached you may be ready to “give” the business away. This stage is similar to the process that occurs when you “give away” a daughter in marriage except in the case of your business you get the golden ring and if it is not big enough you have the power to send your suitor packing.
No matter what stage of the business cycle you are in Terry, Lockridge & Dunn and World Trend Financial can help you get to the next level. We offer sound advice and have years of experience you can put to work on day one.