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Posted By: Admin
Have you ever heard about “Entrepreneur” (this is silly, of course all of us know about it)
But… do you know that there are 5 phases of Entrepreneurship (now we’re talking).
Yes… while some of us believe that having our own business is what Entrepreneurship about (and it is true… in some ways), still there are actually 5 phases toward becoming a True Entrepreneurship.
This is the first step of Entrepreneurship, where we will stop working for our boss, and in turn, decided to become our own boss (that’s cool!). In some line of jobs, we might know this phase as the “Freelance”, where we will have to do all of the work for ourselves. In this phase, we will still have the mindset of “If we can get it done alone, why bother to have other to do it?”. And that’s totally okay, because this is just the beginning!
Regardless, this phase is totally important, as in this phase, we will start to adapt with the “income insecurity” and have to decide our own workflow for our (soon to be) business.
The second phase is where we decide to (finally) hire some employees to help us running the business. There will be specific job descriptions shared amongst the employees (and yes, it’s totally normal for the job description to be overlapped with each other), while we will be more focusing in crucial jobs that are related to the business core values. In this phase, we will learn how to manage the business, delegate the tasks effectively, and deciding a business vision. This is also the phase where most of the Entrepreneurs in the world are currently in.
Starting from the third phase, we can start to “sit back and enjoy the show” as our business has expanded and grown quite well, with all of the business systems has been structured, and all of the jobs will be done by our employees. The great indicator that we already reach this stage is where there will be a organization structures and managers within our business (such as “General Manager”, “Operational Manager”, “Financial Manager”, etc). These managers are the one who will supervise our business for us, thus enable us to breath with more ease now. This is the phase that most of us dreamed of. While we cannot say for sure whether we can achieve that “Financial Freedom”, there are some legit “Freedoms” that we will have in this phase.
In this fourth phase, we will be no longer focusing in the product or services of our business. Instead, we will be focusing in create “more businesses”. And that’s what we call here as the “investing”. It could be in a form where we invest in other business, or creating another line of businesses. It is a little sad because in this phase, we will be a little bit “disconnected” with our own business. We might only know the highest managers of our businesses, and mostly we will be networking with other business investors. Fear not! Because it means that we are on the right track.
The final phase is where we will achieve that honorable True Entrepreneur title (metaphorically of course). But in this phase, we can ensure that those “Financial & Time Freedom” is already waiting for us. We don’t have to worry about the money anymore as our businesses will provide it for us, and of course, we can take a full lifetime vacation everyday! While those are the luxuries that we will have as the result, the true difference is that the mindset, where the “True Entrepreneur” mindset will stay within our mind. Our life will be about investing and innovating, because that’s what True Entrepreneurship is about!
So…. In which phase that you are currently in?
Regardless of that, always remember that Entrepreneurship is a one tough long journey that will take a tremendous time and learning experience. It is not easy, but no one say that it is impossible. Just always ensure that we are on the right track, and enjoy the journey.
See you at the TOP! :)