So you’ve started your business – perhaps years ago, or perhaps just last year. Up until now, it has taken guts and endless hours to get your business to where it is in 2016. Take stock of what you’ve accomplished and never lose sight of the hard work you’ve put in. No one can take that away from you.
You’re a bona fide entrepreneur; but what now?
As we continue into the New Year, most of us in the business community likely have made some kind of resolution, which is a good idea. Keep sight of your goals. However, the context in which your business goals are made needs to reflect the phase beyond your start up. This is exactly what my book, “The Second Decision: The Qualified Entrepreneur,” addresses.
Your First Decision was to create your enterprise, and small libraries can be filled on jumpstarting a business. But far fewer experts zero in on maintaining commerce, whether growth is out of control or you’re struggling to get by. Sometimes, to a significant degree, business owners exist largely in the past, basing all of their days on that one big decision made a while back to start a business. It may be time for you to make a Second Decision to address where you are today. This decision is the choice you make when you fully realize the responsibility that rests on your shoulders.
Are you enjoying your involvement in the business? Are you up for what you have been doing, or what you think you should be doing? Most importantly: Do you possess the vision, the personal skills, the perseverance, and the nuts-and-bolts knowledge that your company needs from its leader at this stage of its growth? You may know the answers to these questions immediately, or you may need to think them over. What’s important is that you be honest with yourself. I’m sure it’s not lost on you that small businesses fail every day – about half go under within four to five years.
Perhaps you’ve been the right entrepreneur for the right business at the right time, or maybe your luck has run the other way. Regardless, there will be a time where you have to recognize that a transition needs to occur. The more open and honest with yourself you are, the better you’ll be able to address the Second Decision. At some point, the business will have become more about the overall needs of the company itself, and less about “me,” which was necessary in the First Decision.
Only you can determine specifically what’s needed for this next important decision. Once you’ve figured out your best role for the betterment of the company – and all that it entails – resolve yourself to be disciplined in carrying out your decision. You’ll be tempted into your old habits.
As with the First Decision, this next one will be a journey.
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