How to Measure Your Home-Based Business Growth For Maximum Success
There are six different business stages every home-based business goes through. If you’re not sure what stage your business is in, read on and use the following descriptions to help you find out. Knowing what stage your business is in makes it easier to navigate that stage because you know what to expect and where you focus should be.
This is the stage BEFORE you launch your home-based business.
This is the stage where you are considering different businesses or developing your specific business idea and preparing to bring your new business into the world. It’s important to get support during this stage and not try to go it alone. You need others to bounce your ideas off of and to get feedback from.
This is the stage when you first launch your business and introduce it to the world. You know if you’ve recently launched your business that this can be an exciting, yet sometimes scary stage. Everything is brand new and adrenalin is usually carrying you through.
Also know that it’s common to feel a let-down after giving birth to your business. After all, you’ve just worked very hard, probably for months, to develop and introduce your business, and now all of that excitement is over. Don’t worry, this is perfectly normal and it will pass.
This stage encompasses the first few months after start-up. For some women this stage can even last up to a year. It all depends on how fast you want to build your business. There is no right or wrong timing. It’s important to do what works for you and your family.
This is a very tender age for your business … an age that can sometimes be trying for you, the new business owner. But handled correctly, this is also the stage that will create a strong foundation to support your business for years to come. Remember to surround yourself with support and to constantly focus on learning and educating yourself about business and marketing. The more you grow your own knowledge, the more your business will grow.
This is that awkward stage of business when you’re trying to grow your business and fine-tune it based on the initial feedback you’ve received from your customers and the marketplace in general. You’re starting to see what works and what doesn’t.
Keep in mind that Toddlers aren’t afraid to take chances and try new things. Toddlers don’t let their fear of making mistakes stop them. And these are the same qualities that make for a strong, successful business owner and fast business growth. So keep on focusing on learning and trying new things. Don’t be afraid to make mistakes, that’s how you learn and grow … and grow your business.
K-12 is a time when you feel as though “you’ve made it” but at the same time, you’re not ready to stop where you are. Even though you have a loyal client base and consistent income, you know you and your business are capable of so much more.
You’re ready to step up to the next level and it’s important to find mentors and people who can help you grow yourself so you can grow your business.
There’s a pretty good chance you’ve already recognized yourself and your business in one of the previous stages. But just in case you haven’t, and if you’re a seasoned business owner, there is one more stage that could describe you … and that’s the Graduation Stage. If your business is humming along pretty well on its own, and you have a team in place that keeps things running whether you show up or not, OR, if you’ve grown your business to the point where it just doesn’t excite you anymore, you’re probably at this stage.
Remember, there is joy and possibility in every stage, and I encourage you to stop “worrying” about where you are and when you’re going to get to the next stage. After all, you wouldn’t want your child to skip from being a baby to being a teenager, just think of all you’d both miss. So why would you want your business to skip a stage?
You and your business will naturally grow into each stage, when you’re both ready. Try to jump ahead too soon and all may just come crashing down.