4 Stages Of Business Building

4 Stages Of Business Building

I just came back from business building event in San Jose last Saturday and I took away a lot of wisdom from millionaire business owners / mentors.

 

One of the speakers is talking about 4 stages of business building / creation. He said, “everyone will go through these 4 stages in business”. And, I totally agree with his view point.

 

For seasons business owners should relate to this message. Today’s blog is for the person who wants to start out business / entrepreneurial journey. Inevitably, all of us will go through each stage and by knowing what’s coming, all of us can prepare what’s ahead of us (especially for new people)…

 

During the session, speaker showed power point slide… Here is 4 stages in business building (I also commented each stage with my understanding)…

 

 

Stage 1: Forming
Stage 2: Storming
Stage 3: Norming
Stage 4: Performing

 

Let me explain what is each step…

 

Stage 1: Forming

In stage 1, everyone gets revelation / realization from books and other resources like Rich Dad Poor Dad. Many found out that there are other ways to create wealth and it is totally possible to create financial freedom for themselves and their families. So, they get excited and start to pursue entrepreneur journey. They start to attend meetings, seminars and boot-camps to get their business started.

During this time, most people can only see rosy view of being entrepreneur. They only can see the benefit and most tend to think that if they can get to know how to do things, yes! they will become financially independent. Then, most people will go to next stage…

 

Stage 2: Storming  

This is the stage where they start to face tough times that they never thought they would face… These are including but not limited to

  • Rejections from your friends and families (People who are very close to you)
  • Investing your time, effort and possibly money but no sizable return
  • People in your team quit altogether
  • Lost money (sometimes big money)
  • Appointment cancellations (Thousands)
  • Time constraints from your job and life
  • And many more

 

I can tell you from my own experiences as well as what speaker said. This is where MOST PEOPLE QUIT. Most people thought it would be easier than what they originally anticipated. But it is not… In 1st stage, they are very excited to attend events, trainings and meetings. In stage 2, their excitement is subsided. They don’t feel like doing anything because of the reasons above. After countless rejections and disappointments as well as negativity from people who are very close to them, devil starts to whisper to their ear and heart. Something like this…

 

Is this worth it? Rather going back to the job and spend more time with family..

 

I would say 90% of people will eventually quit and go back to the old routine (I hope people who are reading this post are not those 90%…).

 

It seems that business building is very hard. However, here is the good news for those who are mentally tough enough to go through this storm…

 

Stage 3: Norming

In stage 3, entrepreneurs who went through stage 2 realize that those obstacles are part of building business as well as good opportunity for them to become stronger and better. They embrace these obstacles and tough aspects as norm. In this stage, they start to build daily routine and whether they feel like or don’t feel like it, they stick to the routine (daily activities). They become so consistent in the process every single day. Their daily effort starts to compound and accelerate and they start to get sizable return in their pursuit.

 

Stage 4: Performing

Entrepreneurs who went through all previous stages with consistency reach to the final stage: Performing. Due to their daily activities and discipline, their business take off and now require much less effort of their own. Most people (or money) are working for you. Now, you are true business owner!

 

Key for success is how we can tolerate and protect our mind during stage 2. We absolutely need to go through stage 2 whether we like it or not. There is no way around it. However, if you have (or build) growth mindset, overcoming this stage is much easier. For example, if obstacles hit you (and it will), rather than treat this as wound, treat this as learning lesson for you to become better. Rather than, you think “why this is always happening to me“, you should think “these obstacles will build you better ME and prepare you to create more success in the future“.

 

 

I hope you got great value out of this blog post. If you want to learn how to attract quality leads by using Meetup, you might want to get my brand new free video study course called “How To Leverage Meetup To Build Your Home Business”. You will learn exactly how I use Meetup to get, attract and grow list of prospects. You can just click on the right hand side of banner, enter the information to claim this totally free video study course.

 

P.S 1: Do you want to become master in sales and business? If so, I am personally learning from Grant Cardone. He is absolute master when it comes to sales and entrepreneurship. Especially, books like Closer’s Survival Guide, Sell or Be Sold and 10X rule is excellent. If you want to learn more, click here.

 

P.S 2: Best way to communicate with me is through Facebook, you can join my Facebook fan page. I sometimes discuss the topic that I don’t mention in the blog site.  If you want to join the community, click here.

About Takeshi Yashima

My name is Takeshi. I am entrepreneur in financial education field to help clients / business associates to achieve financial independence.

Takeshi Yashima's Formulfaforprosperity Blog
Email: takeshi@formulaforprosperity.com
Tel: 847-736-6744

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By | 2018-10-31T19:46:11+00:00 October 31st, 2018|Blog, Mindset, Personal Development|