Taking Your Small Business to the Next Stage

The transition from Stage 1 to Stage 2 can be the most challenging for entrepreneurs. Their business vision may have included growth, but they probably didn’t plan for the challenges that growth would present. While many companies tend to “evolve” from one stage to another, more successful leaders strategically direct change and manage the people, processes, technology and infrastructure through each stage.

For Stage 1 companies ($.5 to $5 million in annual revenue), the mantra is “just get it done.” Make the sale, receive the customer’s order, fulfill the order, deliver it on time, collect your payment, and – hopefully – make a profit. In this stage, you and your team wear many hats and do whatever it takes to “get it done.” As the company grows into Stages 2 ($5 to $25 million) through 4 ($100 million+), you need to establish processes, policies and procedures.

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