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4 Stages of Growth
You've started your business today, you're supposed to be making money by tomorrow right...?
No, that's not how it works. Every business in existence has to be built before a substantial profit is seen by the owner - over a period of years in most cases.
Every business on the planet, big or small, goes through 4 stages of growth... Formulation, Concentration, Momentum, and Plateau.
Formulation: This is the beginning stage of your business, the starting line. Planning and placing. Obtaining permissions and licenses. During this stage of growth you will be identifying systems and routines to utilize, hiring services and budgeting expenses, big business places C.E.O.'s and key people - (home business identifies key team members).
Concentration: This stage of growth is where mass advertising takes place, and clientel are established, teams begin to build.
Momentum: For Big Business - Momentum is reached when 50 million in sales has been achieved, it is at this point that word of mouth generates sales. In home marketing companies - momentum is where millionaires are made. In your home business - you reach momentum when you go full time. When you go full time in home marketing, everything doubles, and word of mouth generates business for you.
Plateau: This stage is when sales level off or begin to decline from the average. Big business introduces new products or sevices or benefits to send the company back into momentum. Home business plateau is usually due to inactivity, or misfortune. In either case - activity will bring momentum back.
May you be in momentum forever!
I've heard that Attrition (the loss of team members due to drop out) was a home marketers greatest enemy... I disagree.
The desire for instant gratification is the home marketers greatest enemy, in the marketer themselves - and in downline members.
It is the desire for instant gratification that makes people quit early. The desire for instant gratification that turns people away from BUILDING a business - they want it now!
Guard yourself from the desire for instant gratification. Businesses take time to build, there are 4 stages to go through in growth, new skills to be learned, used, and become proficient with.
Use the 4 stages of growth as an outline for your business planning. What specific skills will you develop? When do you want to complete each stage and move to the next? What specific things will you do during each stage? Etc... Rushing through the stages and leaving things incomplete can cost you big time later.
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Originally Posted by cadance
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