Growing upDo you think starting your own business makes you an entrepreneur? Well starting a business is just the ‘A’ of entrepreneurship. You have still many stages to cross before you can call yourself a true entrepreneur. Here you are.
Stage 1: Self employed
When you start your own business, the first thing you earn is the pride of being self-employed. You are now your own boss. However the irony of the ‘own boss’ is that he is doing all the work himself. And you have to answer umpteen questions everyday- whether I will fail, succeed, when will I breakeven?
When you start your own business, the first thing you earn is the pride of being self-employed. You are now your own boss. However the irony of the ‘own boss’ is that he is doing all the work himself. And you have to answer umpteen questions everyday- whether I will fail, succeed, when will I breakeven?
Stage 2: Employer
Now your business has passed the initial hiccups and is growing in the desired direction. Now you aren’t able to do all the work and so you start hiring people and delegating tasks to them. Wow…another jump in your self-esteem. You are now an employer and also the manager of the people employed…inching higher in your entrepreneurial journey.
Now your business has passed the initial hiccups and is growing in the desired direction. Now you aren’t able to do all the work and so you start hiring people and delegating tasks to them. Wow…another jump in your self-esteem. You are now an employer and also the manager of the people employed…inching higher in your entrepreneurial journey.
Stage 3: Business Owner
You have now started working with a team though you have still not perfected the art of delegating. At the end of the day you end up doing everything on your own and let others walk away with their salaries. Systems and processes are still struggling to make their place. However given all your effort and grit money is coming in no matter.
You have now started working with a team though you have still not perfected the art of delegating. At the end of the day you end up doing everything on your own and let others walk away with their salaries. Systems and processes are still struggling to make their place. However given all your effort and grit money is coming in no matter.
Stage 4: Investor
Now your business is capable of the next level of growth. This is the time when you become an investor for your business. You start investing your on profits back into your business or pool in funds from other sources. You are growing…cheers!
Now your business is capable of the next level of growth. This is the time when you become an investor for your business. You start investing your on profits back into your business or pool in funds from other sources. You are growing…cheers!
Stage 5: Entrepreneur
Now you have reached the Z of entrepreneurship. Your business is now on autopilot. You are managing ‘on’ your business rather than ‘in’ your business. You are neither managing your accounts, neither people nor operations. You are just strategizing and making things work the way you want them to.
Hey…you are an entrepreneur now.
Now you have reached the Z of entrepreneurship. Your business is now on autopilot. You are managing ‘on’ your business rather than ‘in’ your business. You are neither managing your accounts, neither people nor operations. You are just strategizing and making things work the way you want them to.
Hey…you are an entrepreneur now.
very interesting way of looking at the evolution of an entrepreneur...
ReplyDelete