If you’ve been around here awhile you have caught on that I’m not always straight-laced and professional. I was getting ready to speak once and had to describe my target audience. The best I came up with was like, a teenager business, you know? You can’t be a little baby business, you have to know some things.
This totally clicked and was such a great way to describe those growing pains we all experience in business.
Today’s podcast is just me sharing the stages of business with this child development analogy. I hope it helps you to be kind to yourself and find support for whatever stage you find yourself in. It’s not super in-depth, just a loose framework, but I think you’ll see yourself in one of these stages.
- These are those survival years! It’s time to learn the very basics. If you’ve seen a baby learn to walk, you know they’re going to fall flat on their face a few times. But they pick themselves up and keep trying!
- I spent a long time in the baby stage as an accidental, even reluctant, entrepreneur. I had a lot of time to play and try new things. I was able to learn from my mistakes and try new things.
- My journey seeking supplemental income is going to look a lot different from someone seeking startup funding or already working with a team! If you can’t spend too much time learning from mistakes, consider getting a coach on board to guide you through.
- “Okay, I have all of these things that equip me but who am I really? What is the identity that I want to hold?”
- You are a little more established and confident and it’s time to make big life decisions.
- You’re finding boundaries and pushing limits.
- This is me: “I’ve tested things. I’ve broken a lot of shit.”
- I’ve learned that I can’t stay out all night without paying for it the next day. There are consequences for my actions and I have to do some un-fun stuff too.
- According to LendingTree.com, 18.4% of private sector businesses fail in the first year, 49.7% after five years, and 65.5% after 10.
- It’s ok if businesses grow and change! Maybe they took a “gap year” or retrained for a new career. Growth keeps happening.
- Think of businesses you admire: They all went through tough phases too, we just might not have been paying attention.